Fairmead Chingford LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC393677 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2019

FOR

FAIRMEAD CHINGFORD LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mr J J Devereux

Mrs E Devereux

Mr G King

REGISTERED OFFICE:

Solar House

282 Chase Road

London

N14 6NZ

REGISTERED NUMBER:

OC393677 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Investment property

3

723,511

1,012,915

CURRENT ASSETS

Debtors

4

16,600

16,600

Cash at bank

5,286

3,082

21,886

19,682

CREDITORS

Amounts falling due within one year

5

255,375

243,900

NET CURRENT LIABILITIES

(233,489

)

(224,218

)

TOTAL ASSETS LESS CURRENT LIABILITIES

490,022

788,697

CREDITORS

Amounts falling due after more than one year

6

41,993

557,500

NET ASSETS ATTRIBUTABLE TO MEMBERS

448,029

231,197

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

448,029

231,197

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

448,029

231,197

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 June 2019.

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 applicable to LLPs subject to the small LLPs regime.

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 10 September 2019 and were signed by:

Mr J J Devereux - Designated member

1.	STATUTORY INFORMATION

Fairmead Chingford 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.

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 1 July 2018

1,012,915

Disposals

(289,404

)

At 30 June 2019

723,511

NET BOOK VALUE

At 30 June 2019

723,511

At 30 June 2018

1,012,915

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Trade debtors

16,600

16,600

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Trade creditors

1,475

-

Loan from related company

250,000

240,000

Accrued expenses

3,900

3,900

255,375

243,900

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.19

30.6.18

£

£

Other loans (see note 7)

41,993

557,500

7.

LOANS

An analysis of the maturity of loans is given below:

30.6.19

30.6.18

£

£

Amounts falling due between one and two years:

Bank loan

41,993

557,500

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

30.6.19

30.6.18

£

£

Amounts owed to members in respect of profits

448,029

231,197

Falling due within one year

448,029

231,197

The bank loan is secured by a charge on the LLP'S investment property.