Six Ways Properties LLP - LLP accounts 18.2

REGISTERED NUMBER: OC309841 (England and Wales)

Report of the Members and

Unaudited Financial Statements for the Year Ended 30 November 2018

for

Six Ways Properties LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

M Reid

REGISTERED OFFICE:

Thornloe House

25 Barbourne Road

Worcester

Worcestershire

WR1 1RU

REGISTERED NUMBER:

OC309841 (England and Wales)

ACCOUNTANTS:

SW&A Accountants

Unit 7 Ball Mill Top

Main Road

Hallow

Worcester

Worcestershire

The members present their report with the financial statements of the LLP for the year ended 30 November 2018.

DESIGNATED MEMBERS

The designated members during the year under review were:

M Reid

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £4,333 (2017 - £5,489

profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

M Reid - Designated member

26 July 2019

TURNOVER

14,800

19,077

Administrative expenses

10,467

13,588

OPERATING PROFIT and

PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS'
REMUNERATION AND PROFIT
SHARES

4,333

5,489

PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS'
REMUNERATION AND PROFIT
SHARES

4,333

5,489

Members' remuneration charged as
an expense

3

(4,333

)

(5,489

)

PROFIT FOR THE FINANCIAL YEAR
AVAILABLE FOR DISCRETIONARY
DIVISION AMONG MEMBERS

-

CURRENT ASSETS

Stocks

220,229

320,001

Cash at bank

2,705

674

222,934

320,675

CREDITORS

Amounts falling due within one year

4

570

786

NET CURRENT ASSETS

222,364

319,889

TOTAL ASSETS LESS CURRENT
LIABILITIES

222,364

319,889

CREDITORS

Amounts falling due after more than
one year

5

109,787

175,490

NET ASSETS ATTRIBUTABLE TO
MEMBERS

112,577

144,399

LOANS AND OTHER DEBTS DUE
TO MEMBERS

6

55,069

41,686

MEMBERS' OTHER INTERESTS

Capital accounts

49,533

94,738

Revaluation reserve

7

7,975

112,577

144,399

TOTAL MEMBERS' INTERESTS

Loans and other debts due to
members

6

55,069

41,686

Members' other interests

57,508

102,713

112,577

144,399

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 30 November 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 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.

The financial statements were approved by the members of the LLP on 26 July 2019 and were
signed by:

M Reid - Designated member

1.	STATUTORY INFORMATION

Six Ways Properties 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 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

3.	INFORMATION IN RELATION TO MEMBERS

30.11.18

30.11.17

£

Members' remuneration charged as an expense

Automatic division of profit

4,333

5,489

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

Trade creditors

-

216

Other creditors

570

786

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

30.11.18

30.11.17

£

Bank loans

109,787

175,490

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

109,787

175,490

6.

LOANS AND OTHER DEBTS DUE TO MEMBERS

30.11.18

30.11.17

£

Amounts owed to members in respect of profits

55,069

41,686

Falling due within one year

55,069

41,686

As there are no Creditors art Year end - Members debts (other than members capital

classified as debt) would take Priority in this instance.

7.

RESERVES

Revaluation

reserve

£

At 1 December 2017

and 30 November 2018

7,975