Lochlane Property LLP - Accounts to registrar (filleted) - small 18.2

Lochlane Property LLP - Accounts to registrar (filleted) - small 18.2

LOCHLANE PROPERTY LLP - Company Information

Print Friendly Version

PTP Accounts Production v19.1.0.729 SO304295 designated member 1.9.17 31.8.18 31.8.18 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSO3042952017-08-31SO3042952018-08-31SO3042952017-09-012018-08-31SO3042952016-08-31SO3042952016-09-012017-08-31SO3042952017-08-31SO304295ns15:Scotland2017-09-012018-08-31SO304295ns14:PoundSterling2017-09-012018-08-31SO304295ns10:Director12017-09-012018-08-31SO304295ns10:LimitedLiabilityPartnershipLLP2017-09-012018-08-31SO304295ns10:SmallEntities2017-09-012018-08-31SO304295ns10:AuditExempt-NoAccountantsReport2017-09-012018-08-31SO304295ns10:SmallCompaniesRegimeForAccounts2017-09-012018-08-31SO304295ns10:LimitedLiabilityPartnershipsSORP2017-09-012018-08-31SO304295ns10:FullAccounts2017-09-012018-08-31SO304295ns10:Director22017-09-012018-08-31SO304295ns10:RegisteredOffice2017-09-012018-08-31SO304295ns5:CapitalRedemptionReserve2018-08-31SO304295ns5:CapitalRedemptionReserve2017-08-31SO304295ns5:PlantMachinery2017-09-012018-08-31SO304295ns5:PlantMachinery2017-08-31SO304295ns5:PlantMachinery2018-08-31SO304295ns5:PlantMachinery2017-08-31


REGISTERED NUMBER: SO304295 (Scotland)















Unaudited Financial Statements for the Year Ended 31 August 2018

for

Lochlane Property LLP
Lochlane Property LLP (Registered number: SO304295)






Contents of the Financial Statements
for the Year Ended 31 August 2018




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lochlane Property LLP

General Information
for the Year Ended 31 August 2018







DESIGNATED MEMBERS: S Timoney
Mrs A Reid-Timoney





REGISTERED OFFICE: 16 Hutchison Drive
Bearsden
Glasgow
G61 2LQ





REGISTERED NUMBER: SO304295 (Scotland)





ACCOUNTANTS: Montroig Consultants Limited
16 Hutchison Drive
Bearsden
Glasgow
Lanarkshire
G61 2LQ
Page 1
Lochlane Property LLP (Registered number: SO304295)

Balance Sheet
31 August 2018

31.8.18 31.8.17
Notes £    £   
FIXED ASSETS
Tangible assets 3 604,520 639,686
Investment property 4 19,027,354 18,647,590
19,631,874 19,287,276
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS
19,631,874
19,287,276

LOANS AND OTHER DEBTS DUE TO
MEMBERS
-
-

MEMBERS' OTHER INTERESTS
Capital accounts 21,715,867 20,724,029
Other reserves (2,083,993 ) (1,436,753 )
19,631,874 19,287,276

TOTAL MEMBERS' INTERESTS
Members' other interests 19,631,874 19,287,276

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 August 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...
Lochlane Property LLP (Registered number: SO304295)

Balance Sheet - continued
31 August 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 23 May 2019 and were signed by:





S Timoney - Designated member

The notes form part of these financial statements

Page 3
Lochlane Property LLP (Registered number: SO304295)

Notes to the Financial Statements
for the Year Ended 31 August 2018

1. STATUTORY INFORMATION

Lochlane Property LLP is registered in Scotland. 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 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.

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 - 25% on cost and 25% on reducing balance

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. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2017 1,255,186
Additions 178,605
At 31 August 2018 1,433,791
DEPRECIATION
At 1 September 2017 615,500
Charge for year 213,771
At 31 August 2018 829,271
NET BOOK VALUE
At 31 August 2018 604,520
At 31 August 2017 639,686

Page 4 continued...
Lochlane Property LLP (Registered number: SO304295)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2018

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2017 18,647,590
Additions 468,304
Disposals (88,540 )
At 31 August 2018 19,027,354
NET BOOK VALUE
At 31 August 2018 19,027,354
At 31 August 2017 18,647,590

5. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S Timoney.

S Timoney holds 100% shareholding in Lochlane Investments Limited.

Page 5