Prescot LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC371433 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

PRESCOT LLP

Page

General Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

J F Beesley

P Beesley

Mrs J S Beesley

Mrs J Beesley

REGISTERED OFFICE:

Coal Pit Lane Farm

Coal Pit Lane

Bickerstaffe

Nr Ormskirk

L39 0HH

REGISTERED NUMBER:

OC371433 (England and Wales)

ACCOUNTANTS:

Fairhurst

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

175,000

175,000

175,000

175,000

CURRENT ASSETS

Debtors

6

1,172

1,606

Cash at bank

18,779

4,013

19,951

5,619

CREDITORS

Amounts falling due within one year

7

8,053

1,688

NET CURRENT ASSETS

11,898

3,931

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

186,898

178,931

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

182,898

174,931

MEMBERS' OTHER INTERESTS

Capital accounts

4,000

4,000

186,898

178,931

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

182,898

174,931

Members' other interests

4,000

4,000

186,898

178,931

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 March 2021.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 18 January 2022 and were signed by:

J F Beesley - Designated member

1.	STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).

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.

These financial statements have been prepared in accordance with the Statement Of Recommended Practice, accounting for Limited Liability Partnerships.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Investment property

Investment properties are revalued annually and any surplus or deficit is dealt with through profit and loss. No depreciation is provided in respect of investment properties.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2020

and 31 March 2021

2,433

DEPRECIATION

At 1 April 2020

and 31 March 2021

2,433

NET BOOK VALUE

At 31 March 2021

-

At 31 March 2020

-

5.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 April 2020

and 31 March 2021

175,000

NET BOOK VALUE

At 31 March 2021

175,000

At 31 March 2020

175,000

Cost or valuation at 31 March 2021 is represented by:

£

Valuation in 2017

26,371

Cost

148,629

175,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

464

464

Prepayments and accrued income

708

1,142

1,172

1,606

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

15

245

Other creditors

6,043

-

Accrued expenses

1,995

1,443

8,053

1,688

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2021

2020

£

£

Amounts owed to members in respect of profits

182,898

174,931

Falling due within one year

182,898

174,931

Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.