Burnham Residential LLP - LLP accounts 20.1

REGISTERED NUMBER: OC418790 (England and Wales)

REPORT OF THE MEMBERS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2019

FOR

BURNHAM RESIDENTIAL LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

Mr M S Ross

Mr J Weg

REGISTERED OFFICE:

Unit 2

99-101 Kingsland Road

London

E2 8AG

REGISTERED NUMBER:

OC418790 (England and Wales)

ACCOUNTANTS:

Versa Accountants Ltd

Chartered Certified Accountants

Unit 2

99-101 Kingsland Road

London

E2 8AG

The members present their report with the financial statements of the LLP for the year ended 31 August 2019.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of investment property activities.

DESIGNATED MEMBERS

The designated members during the year under review were:

Mr M S Ross

Mr J Weg

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £5,505 (2018 - £16,160 loss).

MEMBERS' INTERESTS

The members confirm their respective interests in the entity going forward.

ON BEHALF OF THE MEMBERS:

Mr M S Ross - Designated member

25 March 2020

TURNOVER

-

-

Administrative expenses

5,437

14,542

(5,437

)

(14,542

)

Other operating income

17,400

2,900

OPERATING PROFIT/(LOSS)

11,963

(11,642

)

Interest payable and similar expenses

6,458

4,518

PROFIT/(LOSS) FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

5,505

(16,160

)

FIXED ASSETS

Investment property

4

297,822

297,822

CURRENT ASSETS

Debtors

5

-

157

Cash at bank

6,744

606

6,744

763

CREDITORS

Amounts falling due within one year

6

1,200

1,200

NET CURRENT ASSETS/(LIABILITIES)

5,544

(437

)

TOTAL ASSETS LESS CURRENT LIABILITIES

303,366

297,385

CREDITORS

Amounts falling due after more than one year

7

171,902

171,902

NET ASSETS ATTRIBUTABLE TO MEMBERS

131,464

125,483

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

131,464

125,483

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

131,464

125,483

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 August 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 in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP on 25 March 2020 and were signed by:

Mr M S Ross - Designated member

Mr J Weg - Designated member

1.	STATUTORY INFORMATION

Burnham Residential 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 as modified by the revaluation of certain assets.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange

ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating

result.

3.	EMPLOYEE INFORMATION

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2018

and 31 August 2019

297,822

NET BOOK VALUE

At 31 August 2019

297,822

At 31 August 2018

297,822

Fair value at 31 August 2019 is represented by:

£

Cost

297,822

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Prepayments

-

157

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Accrued expenses

1,200

1,200

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans more 5 years

171,902

171,902

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 years

171,902

171,902

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with unsecured creditors.