Formartine Renewable Energy LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SO303757 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

FOR

FORMARTINE RENEWABLE ENERGY LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Cardinghill Renewables Limited

Formartine Partnership Limited

REGISTERED OFFICE:

Cloffrickford

Auchnagatt

Ellon

Aberdeenshire

AB41 8YD

REGISTERED NUMBER:

SO303757 (Scotland)

ACCOUNTANTS:

Bain Henry Reid

51-53 High Street

Turriff

AB53 4EJ

FIXED ASSETS

Tangible assets

3

1,363,445

1,403,865

CURRENT ASSETS

Debtors

4

88,789

134,125

Cash at bank

56,620

36,663

145,409

170,788

CREDITORS

Amounts falling due within one year

5

(119,090

)

(150,111

)

NET CURRENT ASSETS

26,319

20,677

TOTAL ASSETS LESS CURRENT LIABILITIES

1,389,764

1,424,542

CREDITORS

Amounts falling due after more than one year

6

(1,261,822

)

(1,424,542

)

NET ASSETS ATTRIBUTABLE TO MEMBERS

127,942

-

LOANS AND OTHER DEBTS DUE TO MEMBERS

127,942

-

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

127,942

-

Amounts due from members

4

-

(13,202

)

127,942

(13,202

)

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 January 2018.

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 21 October 2018 and were signed by:

Cardinghill Renewables Limited - Designated member

Formartine Partnership Limited - Designated member

1.	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.

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.

Plant and machinery etc

-

5% on cost

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.

2.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2017 - NIL).

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2017

1,452,276

Additions

16,401

At 31 January 2018

1,468,677

DEPRECIATION

At 1 February 2017

48,411

Charge for year

56,821

At 31 January 2018

105,232

NET BOOK VALUE

At 31 January 2018

1,363,445

At 31 January 2017

1,403,865

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

88,789

134,125

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

106,908

103,543

Trade creditors

2,504

1,889

Taxation and social security

6,190

9,624

Other creditors

3,488

35,055

119,090

150,111

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

964,290

1,071,198

Other creditors

297,532

353,344

1,261,822

1,424,542

7.	RELATED PARTY DISCLOSURES