Praetura Ventures (1) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC365643 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

PRAETURA VENTURES (1) LIMITED

LIABILITY PARTNERSHIP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DESIGNATED MEMBERS:

M J Fletcher

D C Foreman

REGISTERED OFFICE:

Level 8 Bauhaus

27 Quay Street

Manchester

M3 3GY

REGISTERED NUMBER:

OC365643 (England and Wales)

FIXED ASSETS

Investments

4

2,224,118

2,388,400

CURRENT ASSETS

Debtors

5

35,199

35,199

NET CURRENT ASSETS

35,199

35,199

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

2,259,317

2,423,599

LOANS AND OTHER DEBTS DUE TO MEMBERS

2,259,317

2,423,599

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

2,259,317

2,423,599

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 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 and authorised for issue on 1 May 2020 and were signed by:

D C Foreman - Designated member

1.	STATUTORY INFORMATION

Praetura Ventures (1) Limited Liability Partnership 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

3.	EMPLOYEE INFORMATION

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

4.	FIXED ASSET INVESTMENTS

Interest

in other

participating

interests

£

COST OR VALUATION

At 1 April 2018

2,388,400

Revaluations

(164,282

)

At 31 March 2019

2,224,118

NET BOOK VALUE

At 31 March 2019

2,224,118

At 31 March 2018

2,388,400

Investments are measured at fair value with changes in fair value recognised in profit or loss.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

as restated

£

£

Other debtors

35,199

35,199

6.	PRIOR YEAR ADJUSTMENTS

The 2019 accounts reflect a change in accounting policy that now measures investments at fair value with

changes in fair value recognised in profit or loss. Prior to this movements in the investment value were recorded

via a revaluation reserve. Furthermore the investment value as at 31 March 2018 was undervalued by £43,767.

Included in other debtors as at 31 March 2018 was an amount owed to the company overstated by £53,458.

The split of monies owed from and owing to each partner was incorrectly recorded in the prior year, resulting in

£365,938 showing as owed from one partner and £470,924 when both balances were nil.

The net effect of these restatements on the Balance Sheet is to increase investments by £43,767, remove the

revaluation reserve of £2,328,304, reduce current assets by £419,396 being the sum of the other debtors and

partner balance amendment, and reduce net assets attributable to members by £375,629.