Barnet O'Brien LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC323689 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2018

FOR

BARNET O'BRIEN LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

F E Barnet

D P O'Brien

K O'Brien

REGISTERED OFFICE:

Suites 3 & 4 Pacific

Chambers

11-13 Victoria Street

Liverpool

Merseyside

L2 5QQ

REGISTERED NUMBER:

OC323689 (England and Wales)

ACCOUNTANTS:

John Kerr - Chartered Accountants

375 Eaton Road

West Derby

Liverpool

Merseyside

L12 2AH

FIXED ASSETS

Investment property

4

237,000

237,000

CURRENT ASSETS

Debtors

5

283

1,547

Cash at bank

4,923

252

5,206

1,799

CREDITORS

Amounts falling due within one year

6

16,362

14,792

NET CURRENT LIABILITIES

(11,156

)

(12,993

)

TOTAL ASSETS LESS CURRENT LIABILITIES

225,844

224,007

CREDITORS

Amounts falling due after more than one year

7

197,563

209,780

NET ASSETS ATTRIBUTABLE TO MEMBERS

28,281

14,227

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

225,953

211,899

MEMBERS' OTHER INTERESTS

Fair value reserve

10

(197,672

)

(197,672

)

28,281

14,227

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

225,953

211,899

Members' other interests

(197,672

)

(197,672

)

28,281

14,227

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 5 April 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 19 December 2018 and were signed by:

K O'Brien - Designated member

1.	STATUTORY INFORMATION

Barnet O'Brien 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.

Investment property

Investment property is included at fair value. Gains and losses are recognised in the income statement and a

transfer of the equivalent gain or loss is made to a fair value reserve.

3.	EMPLOYEE INFORMATION

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 6 April 2017

and 5 April 2018

237,000

NET BOOK VALUE

At 5 April 2018

237,000

At 5 April 2017

237,000

Fair value at 5 April 2018 is represented by:

£

Valuation in 2018

237,000

If investment property had not been revalued it would have been included at the following historical cost:

5.4.18

5.4.17

£

£

Cost

434,672

434,672

Investment property was valued on a fair value basis on 5 April 2018 by the Designated Members .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.18

5.4.17

£

£

Other debtors

283

1,547

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.18

5.4.17

£

£

Bank loans and overdrafts

12,821

13,000

Taxation and social security

680

680

Other creditors

2,861

1,112

16,362

14,792

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

5.4.18

5.4.17

£

£

Bank loans

197,563

209,780

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

138,963

153,680

8.	SECURED DEBTS

The following secured debts are included within creditors:

5.4.18

5.4.17

£

£

Bank loans

210,384

222,780

The bank borrowings are secured by a Mortgage Deed over the investment property.

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members (other than members' capital classified as debt) rank equally with debts

due to other unsecured creditors in a winding up.

10.

RESERVES

Fair

value

reserve

£

At 6 April 2017

and 5 April 2018

(197,672

)