Francol Properties LLP - Accounts to registrar (filleted) - small 18.2

Francol Properties LLP - Accounts to registrar (filleted) - small 18.2

FRANCOL PROPERTIES LLP - Company Information

Print Friendly Version

IRIS Accounts Production v20.3.4.1 OC331363 designated member 1.9.19 31.8.20 31.8.20 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureOC3313632019-08-31OC3313632020-08-31OC3313632019-09-012020-08-31OC3313632018-08-31OC3313632018-09-012019-08-31OC3313632019-08-31OC331363ns16:EnglandWales2019-09-012020-08-31OC331363ns15:PoundSterling2019-09-012020-08-31OC331363ns11:Director12019-09-012020-08-31OC331363ns11:LimitedLiabilityPartnershipLLP2019-09-012020-08-31OC331363ns11:SmallEntities2019-09-012020-08-31OC331363ns11:AuditExempt-NoAccountantsReport2019-09-012020-08-31OC331363ns11:SmallCompaniesRegimeForAccounts2019-09-012020-08-31OC331363ns11:LimitedLiabilityPartnershipsSORP2019-09-012020-08-31OC331363ns11:FullAccounts2019-09-012020-08-31OC331363ns11:Director22019-09-012020-08-31OC331363ns11:Director32019-09-012020-08-31OC331363ns11:RegisteredOffice2019-09-012020-08-31OC331363ns6:CurrentFinancialInstruments2020-08-31OC331363ns6:CurrentFinancialInstruments2019-08-31OC331363ns6:FurnitureFittings2019-09-012020-08-31OC331363ns6:MotorVehicles2019-09-012020-08-31OC331363ns6:FurnitureFittings2019-08-31OC331363ns6:MotorVehicles2019-08-31OC331363ns6:FurnitureFittings2020-08-31OC331363ns6:MotorVehicles2020-08-31OC331363ns6:FurnitureFittings2019-08-31OC331363ns6:MotorVehicles2019-08-31OC331363ns6:CurrentFinancialInstrumentsns6:WithinOneYear2020-08-31OC331363ns6:CurrentFinancialInstrumentsns6:WithinOneYear2019-08-31


REGISTERED NUMBER: OC331363 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 August 2020

for

FRANCOL PROPERTIES LLP
FRANCOL PROPERTIES LLP (REGISTERED NUMBER: OC331363)

Contents of the Financial Statements
for the year ended 31 August 2020










Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


FRANCOL PROPERTIES LLP

General Information
for the year ended 31 August 2020







Designated members: Mr G R Spiller
Miss F A Spiller
Miss O L Spiller





Registered office: Coopers House
65a Wingletye Lane
Hornchurch
Essex
RM11 3AT





Registered number: OC331363 (England and Wales)





Accountants: Haines Watts Essex LLP
Chartered Accountants
Coopers House
65a Wingletye Lane
Hornchurch
Essex
RM11 3AT
Page 1
FRANCOL PROPERTIES LLP (REGISTERED NUMBER: OC331363)

Statement of Financial Position
31 August 2020

2020 2019
Notes £    £    £    £   
Fixed assets
Tangible assets 4 17,739 23,621
Investment property 5 490,000 490,000
507,739 513,621

Current assets
Debtors 6 684,468 730,851
Cash at bank 47,234 88,952
731,702 819,803
Creditors
Amounts falling due within one year 7 16,697 6,322
Net current assets 715,005 813,481
Total assets less current liabilities
and
Net assets attributable to members 1,222,744 1,327,102

Loans and other debts due to members 8 1,222,744 1,327,102

Total members' interests
Loans and other debts due to members 8 1,222,744 1,327,102

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 August 2020.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 27 March 2021 and were signed by:





Mr G R Spiller - Designated member

The notes form part of these financial statements

Page 2
FRANCOL PROPERTIES LLP (REGISTERED NUMBER: OC331363)

Notes to the Financial Statements
for the year ended 31 August 2020


1. Statutory information

Francol Properties LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. Employee information

The average number of employees during the year was NIL (2019 - NIL).

4. Tangible fixed assets
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Cost
At 1 September 2019
and 31 August 2020 1,183 45,838 47,021
Depreciation
At 1 September 2019 715 22,685 23,400
Charge for year 94 5,788 5,882
At 31 August 2020 809 28,473 29,282
Net book value
At 31 August 2020 374 17,365 17,739
At 31 August 2019 468 23,153 23,621

Page 3
FRANCOL PROPERTIES LLP (REGISTERED NUMBER: OC331363)

Notes to the Financial Statements - continued
for the year ended 31 August 2020


5. Investment property
Total
£   
Fair value
At 1 September 2019
and 31 August 2020 490,000
Net book value
At 31 August 2020 490,000
At 31 August 2019 490,000

Fair value at 31 August 2020 is represented by:

£   
Valuation in 2018 170,577
Cost 319,423
490,000

6. Debtors: amounts falling due within one year
2020 2019
£    £   
Other debtors 684,468 730,851

7. Creditors: amounts falling due within one year
2020 2019
£    £   
Other creditors 16,697 6,322

8. Loans and other debts due to members

In the event of winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

9. Related party disclosures

Mr G R Spiller
Common control

Included within other debtors is a balance of £485,713 (2019 - £485,713) due from Fairfield Property Ltd, a
company incorporated within the UK in which the partner has a material interest.

Mr G R Spiller
Common control

Included within other debtors is a balance of £2,000 (2019 - £2,000) due from GS Property Ltd, a company incorporated within the UK in which the partner has a material interest.

Page 4