George Adams Estates LLP - Accounts to registrar (filleted) - small 18.2

George Adams Estates LLP - Accounts to registrar (filleted) - small 18.2

GEORGE ADAMS ESTATES LLP - Company Information

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REGISTERED NUMBER: OC371812 (England and Wales)




















Unaudited Financial Statements

for the Period 1 April 2018 to 30 September 2019

for

George Adams Estates LLP
George Adams Estates LLP (Registered number: OC371812)






Contents of the Financial Statements
for the Period 1 April 2018 to 30 September 2019




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3


George Adams Estates LLP

General Information
for the Period 1 April 2018 to 30 September 2019







DESIGNATED MEMBERS: G A Adams
H E Adams





REGISTERED OFFICE: Mercers House
32 Cross Hayes
Malmesbury
Wiltshire
SN16 9BG





REGISTERED NUMBER: OC371812 (England and Wales)





ACCOUNTANTS: MHA Monahans
Chartered Accountants
14a Forest Gate
Pewsham
Chippenham
Wiltshire
SN15 3RS
Page 1
George Adams Estates LLP (Registered number: OC371812)

Balance Sheet
30 September 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Investments 4 - 4,309,968

CURRENT ASSETS
Debtors 5 - 991,117
Cash at bank - 2,536
- 993,653
CREDITORS
Amounts falling due within one year 6 - 3,958
NET CURRENT ASSETS - 989,695
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS
-
5,299,663

LOANS AND OTHER DEBTS DUE TO
MEMBERS
7
-
5,299,663

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 - 5,299,663

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 period ended 30 September 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 28 October 2019 and were signed by:





G A Adams - Designated member

The notes form part of these financial statements

Page 2
George Adams Estates LLP (Registered number: OC371812)

Notes to the Financial Statements
for the Period 1 April 2018 to 30 September 2019

1. STATUTORY INFORMATION

George Adams Estates 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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about George Adams Estates LLP as an individual LLP and do not
contain consolidated financial information as the parent of a group. The LLP has taken the option under Section
398 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit)
(Application of Companies Act 2006) Regulations 2008 not to prepare consolidated financial statements.

Turnover
Turnover represents rental income receivable excluding applicable Value Added Tax. Rental income is
recognised in accordance with the terms of tenants' leases.

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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. This gain or loss is considered non-distributable to members and is
therefore held in a separate reserve, the fair value reserve.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

3. EMPLOYEE INFORMATION

The average number of employees during the period was NIL (2018 - 3 ).

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2018 4,309,968
Disposals (4,309,968 )
At 30 September 2019 -
NET BOOK VALUE
At 30 September 2019 -
At 31 March 2018 4,309,968

Page 3 continued...
George Adams Estates LLP (Registered number: OC371812)

Notes to the Financial Statements - continued
for the Period 1 April 2018 to 30 September 2019

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Amounts owed by group undertakings - 980,810
VAT - 10,307
- 991,117

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade creditors - 3,958

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up of the company loans and other debts due to members rank pari passu in relation to
other creditors.

8. RELATED PARTY DISCLOSURES

On 16 February 2018 the LLP disposed of certain investment property and other assets to the LLP's subsidiary
company, George Adams Estates Limited ("the company"), at their carrying values in the LLP's accounts.

On 29 August 2019 £968,248 owed to the LLP by the company was assigned to GA Adams.

At the balance sheet date £Nil (31 March 2018: £980,910) was owed by the company to the LLP.

9. ULTIMATE CONTROLLING PARTY

The controlling party is G A Adams.

Page 4