Farnley Estates (No 1) LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC398486 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2019

for

Farnley Estates (No 1) LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mr T P Sykes

Mr J D Sykes

REGISTERED OFFICE:

Marland House

13 Huddersfield Road

Barnsley

South Yorkshire

S70 2LW

REGISTERED NUMBER:

OC398486 (England and Wales)

ACCOUNTANTS:

Harris & Co Limited

Chartered Accountants

Marland House

13 Huddersfield Road

Barnsley

South Yorkshire

S70 2LW

FIXED ASSETS

Tangible assets

4

207,483

63,778

CURRENT ASSETS

Stocks

1,760

11,315

Debtors

5

81,505

6,074

Cash at bank

4,473

12,298

87,738

29,687

CREDITORS

Amounts falling due within one year

6

(132,400

)

(13,442

)

NET CURRENT (LIABILITIES)/ASSETS

(44,662

)

16,245

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

162,821

80,023

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

80,338

16,245

MEMBERS' OTHER INTERESTS

Capital accounts

82,483

63,778

162,821

80,023

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

80,338

16,245

Members' other interests

82,483

63,778

162,821

80,023

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 28 February 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP on 5 November 2019 and were signed by:

Mr T P Sykes - Designated member

1.	STATUTORY INFORMATION

Farnley Estates (No 1) 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 and functional currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis under the historical cost

convention.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

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

useful life.

Freehold land - land is not depreciated

Stocks

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

obsolete and slow moving items.

4.	TANGIBLE FIXED ASSETS

Freehold

land

£

COST

At 1 March 2018

63,778

Additions

143,705

At 28 February 2019

207,483

NET BOOK VALUE

At 28 February 2019

207,483

At 28 February 2018

63,778

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

81,505

1,201

Other debtors

-

4,873

81,505

6,074

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

3,084

10,242

Taxation and social security

1,041

-

Other creditors

128,275

3,200

132,400

13,442

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2019

2018

£

£

Amounts owed to members in respect of profits

80,338

16,245

Falling due within one year

80,338

16,245

The loans and other debts due to members' (other than members' capital classified as debt) rank

equal in relation to other creditors.