Wallace Retail LLP - Accounts to registrar (filleted) - small 18.2

Wallace Retail LLP - Accounts to registrar (filleted) - small 18.2

WALLACE RETAIL LLP - Company Information

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REGISTERED NUMBER: OC382522 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28TH FEBRUARY 2018

FOR

WALLACE RETAIL LLP
WALLACE RETAIL LLP (REGISTERED NUMBER: OC382522)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2018




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WALLACE RETAIL LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 28TH FEBRUARY 2018







DESIGNATED MEMBERS: J C Owen
Mrs N H Owen





REGISTERED OFFICE: Parkers
Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ





REGISTERED NUMBER: OC382522 (England and Wales)





ACCOUNTANTS: Parkers
Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ
Page 1
WALLACE RETAIL LLP (REGISTERED NUMBER: OC382522)

BALANCE SHEET
28TH FEBRUARY 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Investment property 3 653,557 653,557

CURRENT ASSETS
Cash at bank 38,275 41,759

CREDITORS
Amounts falling due within one year 4 11,018 10,738
NET CURRENT ASSETS 27,257 31,021
TOTAL ASSETS LESS CURRENT
LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS
680,814
684,578

LOANS AND OTHER DEBTS DUE TO
MEMBERS
5
680,814
684,578

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 5 680,814 684,578

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 28th February 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 notes form part of these financial statements

Page 2 continued...
WALLACE RETAIL LLP (REGISTERED NUMBER: OC382522)

BALANCE SHEET - continued
28TH FEBRUARY 2018


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 13th November 2018 and were signed
by:





J C Owen - Designated member

The notes form part of these financial statements

Page 3
WALLACE RETAIL LLP (REGISTERED NUMBER: OC382522)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2018

1. STATUTORY INFORMATION

Wallace Retail 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.

Turnover
Turnover represents rents received.

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.

3. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st March 2017
and 28th February 2018 653,557
NET BOOK VALUE
At 28th February 2018 653,557
At 28th February 2017 653,557

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
VAT 1,925 1,841
Other creditors 4,513 4,513
Accrued expenses 4,580 4,384
11,018 10,738

5. LOANS AND OTHER DEBTS DUE TO MEMBERS
2018 2017
£    £   
Amounts owed to members in respect of profits 680,814 684,578

Falling due within one year 680,814 684,578

There are no specific terms in relation to members' subscriptions and repayment of capital.

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