Prescot LLP - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: OC371433 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

PRESCOT LLP

Page

General Information

1

Balance Sheet

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

3

407

610

Investment property

4

175,000

148,629

175,407

149,239

CURRENT ASSETS

Debtors

5

1,754

3,492

Cash at bank

6,640

7,087

8,394

10,579

CREDITORS

Amounts falling due within one year

6

2,471

923

NET CURRENT ASSETS

5,923

9,656

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

181,330

158,895

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

177,330

154,895

MEMBERS' OTHER INTERESTS

Capital accounts

4,000

4,000

181,330

158,895

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

177,330

154,895

Members' other interests

4,000

4,000

181,330

158,895

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 2017.

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 of Part 15 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 small LLPs.

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 on 19 December 2017 and were signed by:

P 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2016

and 31 March 2017

2,433

DEPRECIATION

At 1 April 2016

1,823

Charge for year

203

At 31 March 2017

2,026

NET BOOK VALUE

At 31 March 2017

407

At 31 March 2016

610

4.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 April 2016

148,629

Revaluations

26,371

At 31 March 2017

175,000

NET BOOK VALUE

At 31 March 2017

175,000

At 31 March 2016

148,629

Cost or valuation at 31 March 2017 is represented by:

£

Valuation in 2017

26,371

Cost

148,629

175,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Prepayments and accrued income

1,754

3,492

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

1,535

-

Accrued expenses

936

923

2,471

923

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2017

2016

£

£

Amounts owed to members in respect of profits

177,330

154,895

Falling due within one year

177,330

154,895

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

8.	FIRST YEAR ADOPTION

There are no adjustments to the accounts on transition to FRS102.