Prime Landlords LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC386986 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

PRIME LANDLORDS LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

M Brook

Yelloway Coaches Limited

REGISTERED OFFICE:

Unit 1 Palm Business Centre

Stock Lane

Chadderton

Oldham

Lancashire

OL9 9ER

REGISTERED NUMBER:

OC386986 (England and Wales)

ACCOUNTANTS:

Cresswells

12 Market Street

Hebden Bridge

West Yorkshire

HX7 6AD

FIXED ASSETS

Tangible assets

3

620

2,246

Investment property

4

467,368

232,341

467,988

234,587

CURRENT ASSETS

Debtors

5

359

56

Cash at bank

3,068

3,038

3,427

3,094

CREDITORS

Amounts falling due within one year

6

16,251

2,786

NET CURRENT (LIABILITIES)/ASSETS

(12,824

)

308

TOTAL ASSETS LESS CURRENT LIABILITIES

455,164

234,895

CREDITORS

Amounts falling due after more than one year

7

312,478

67,212

NET ASSETS ATTRIBUTABLE TO MEMBERS

142,686

167,683

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

142,686

167,683

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

142,686

167,683

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 December 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 30 September 2019 and were signed by:

M Brook - Designated member

1.	STATUTORY INFORMATION

Prime Landlords LLP is registered in England and Wales. The LLP's registered number and

registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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

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

Fixtures

and

fittings

£

COST

At 1 January 2018

and 31 December 2018

6,501

DEPRECIATION

At 1 January 2018

4,255

Charge for year

1,626

At 31 December 2018

5,881

NET BOOK VALUE

At 31 December 2018

620

At 31 December 2017

2,246

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2018

232,341

Additions

235,027

At 31 December 2018

467,368

NET BOOK VALUE

At 31 December 2018

467,368

At 31 December 2017

232,341

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Prepayments

359

56

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

15,640

2,786

Accrued expenses

611

-

16,251

2,786

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans - 1-2 years

15,639

2,786

Bank loans - 2-5 years

46,916

8,358

Bank loans more 5 yr by instal

249,923

56,068

312,478

67,212

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

249,923

56,068

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to ordinary creditors in a

winding up.