Harepath LLP - Accounts to registrar (filleted) - small 18.2

Unaudited Financial Statements

for the Year Ended 31 March 2019

for

Harepath LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

C P Ackley

Mrs C Iskjaer Ackley

P J Whiteway

Mrs P H Whiteway

REGISTERED OFFICE:

8-10 South Street

Epsom

Surrey

KT18 7PF

REGISTERED NUMBER:

OC315925 (England and Wales)

ACCOUNTANTS:

Williams & Co

Chartered Accountants

8-10 South Street

Epsom

Surrey

KT18 7PF

FIXED ASSETS

Tangible assets

3

959

1,521

CURRENT ASSETS

Stocks

4

-

1,001,327

Debtors

5

60,192

115,153

Cash at bank

-

23,092

60,192

1,139,572

CREDITORS

Amounts falling due within one year

6

61,151

525,514

NET CURRENT (LIABILITIES)/ASSETS

(959

)

614,058

TOTAL ASSETS LESS CURRENT LIABILITIES

-

615,579

CREDITORS

Amounts falling due after more than one year

7

-

366,226

NET ASSETS ATTRIBUTABLE TO MEMBERS

-

249,353

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

-

249,353

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

-

249,353

Amounts due from members

5

(45,994

)

-

(45,994

)

249,353

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 March 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 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 30 July 2019 and were signed by:

C P Ackley - Designated member

1.	STATUTORY INFORMATION

Harepath 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 represents income derived from sales of new build residential property, excluding value

added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

3.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2018

and 31 March 2019

2,247

DEPRECIATION

At 1 April 2018

726

Charge for year

562

At 31 March 2019

1,288

NET BOOK VALUE

At 31 March 2019

959

At 31 March 2018

1,521

4.

STOCKS

2019

2018

£

£

Work-in-progress

-

1,001,327

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Amounts owed by group undertakings

-

91,002

Amounts due from members

45,994

-

Other debtors

13,957

-

VAT

241

24,151

60,192

115,153

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts (see note 8)

63

-

Trade creditors

35,312

67,029

Amounts owed to group undertakings

23,776

-

Accrued expenses

2,000

458,485

61,151

525,514

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other loans (see note 8)

-

366,226

8.

LOANS

An analysis of the maturity of loans is given below:

2019

2018

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

63

-

Amounts falling due between two and five years:

Other loans - 2-5 years

-

366,226

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2019

2018

£

£

Amounts owed to members in respect of profits

-

249,353

Falling due within one year

-

249,353