Living Smart Partners LLP - Accounts to registrar (filleted) - small 18.2

Living Smart Partners LLP - Accounts to registrar (filleted) - small 18.2

LIVING SMART PARTNERS LLP - Company Information

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IRIS Accounts Production v20.1.5.71 OC372057 designated member designated member 1.3.19 29.2.20 29.2.20 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureOC3720572019-02-28OC3720572020-02-29OC3720572019-03-012020-02-29OC3720572018-02-28OC3720572018-03-012019-02-28OC3720572019-02-28OC372057ns16:EnglandWales2019-03-012020-02-29OC372057ns15:PoundSterling2019-03-012020-02-29OC372057ns11:Director12019-03-012020-02-29OC372057ns11:Director22019-03-012020-02-29OC372057ns11:LimitedLiabilityPartnershipLLP2019-03-012020-02-29OC372057ns11:SmallEntities2019-03-012020-02-29OC372057ns11:AuditExempt-NoAccountantsReport2019-03-012020-02-29OC372057ns11:SmallCompaniesRegimeForAccounts2019-03-012020-02-29OC372057ns11:LimitedLiabilityPartnershipsSORP2019-03-012020-02-29OC372057ns11:FullAccounts2019-03-012020-02-29OC372057ns11:RegisteredOffice2019-03-012020-02-29OC372057ns6:CurrentFinancialInstruments2020-02-29OC372057ns6:CurrentFinancialInstruments2019-02-28OC372057ns6:Non-currentFinancialInstruments2020-02-29OC372057ns6:Non-currentFinancialInstruments2019-02-28OC372057ns6:PlantMachinery2019-03-012020-02-29OC372057ns6:PlantMachinery2019-02-28OC372057ns6:PlantMachinery2020-02-29OC372057ns6:PlantMachinery2019-02-28OC372057ns6:CurrentFinancialInstrumentsns6:WithinOneYear2020-02-29OC372057ns6:CurrentFinancialInstrumentsns6:WithinOneYear2019-02-28


REGISTERED NUMBER: OC372057 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2020

FOR

LIVING SMART PARTNERS LLP
d&t
Chartered Accountants
Swatton Barn
Badbury
Swindon
Wiltshire
SN4 0EU








LIVING SMART PARTNERS LLP (REGISTERED NUMBER: OC372057)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2020




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LIVING SMART PARTNERS LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2020







DESIGNATED MEMBERS: B Thorns
T Thorns





REGISTERED OFFICE: 26 Regent Road
Altrincham
WA14 1RP





REGISTERED NUMBER: OC372057 (England and Wales)





ACCOUNTANTS: d&t
Chartered Accountants
Swatton Barn
Badbury
Swindon
Wiltshire
SN4 0EU
Page 1
LIVING SMART PARTNERS LLP (REGISTERED NUMBER: OC372057)

BALANCE SHEET
29 FEBRUARY 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,515 10,546
Investment property 5 1,030,000 1,007,018
1,035,515 1,017,564

CURRENT ASSETS
Debtors 6 1,255 913
Cash at bank 1,858 2,881
3,113 3,794
CREDITORS
Amounts falling due within one year 7 1,464 1,912
NET CURRENT ASSETS 1,649 1,882
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,037,164
1,019,446

CREDITORS
Amounts falling due after more than one
year
8
871,972
812,169
NET ASSETS ATTRIBUTABLE TO
MEMBERS
165,192
207,277

LOANS AND OTHER DEBTS DUE TO
MEMBERS
10
165,192
207,277

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 165,192 207,277

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 29 February 2020.

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 notes form part of these financial statements

Page 2 continued...
LIVING SMART PARTNERS LLP (REGISTERED NUMBER: OC372057)

BALANCE SHEET - continued
29 FEBRUARY 2020


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 26 May 2020
and were signed by:





T Thorns - Designated member

The notes form part of these financial statements

Page 3
LIVING SMART PARTNERS LLP (REGISTERED NUMBER: OC372057)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2020

1. STATUTORY INFORMATION

Living Smart Partners 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.

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 reducing balance and 20% straight line basis

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. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2019 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2019
and 29 February 2020 34,586
DEPRECIATION
At 1 March 2019 24,040
Charge for year 5,031
At 29 February 2020 29,071
NET BOOK VALUE
At 29 February 2020 5,515
At 28 February 2019 10,546

Page 4 continued...
LIVING SMART PARTNERS LLP (REGISTERED NUMBER: OC372057)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2020

5. INVESTMENT PROPERTY

The investment properties were valued on an open market basis on 29 February 2020 by the
designated members.

Cost or valuation at 29 February 2020 is represented by:

£   
Valuation in 2017 263,397
Valuation in 2018 90,000
Valuation in 2019 14,340
Valuation in 2020 22,983
Cost 639,280
1,030,000

If Investment property had not been revalued they would have been included at the following
historical cost:

2020 2019
£    £   
Cost 639,280 639,280

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Other debtors 1,255 913

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Other creditors 1,464 1,912

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2020 2019
£    £   
Other creditors 871,972 812,169

Page 5 continued...
LIVING SMART PARTNERS LLP (REGISTERED NUMBER: OC372057)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2020

9. SECURED DEBTS

The following secured debts are included within creditors:

2020 2019
£    £   
Other Creditors 771,972 712,169

The loans included within other creditors are secured by way of the following:

A fixed and floating charge over the land, buildings, fixtures and fittings of 39 Talbot Road,
Fallowfield, Manchester, M14 6TA, dated 20th September 2016.

A fixed and floating charge over the buildings, fixtures and fittings of 97 Old Moat Lane, Manchester,
M20 3EJ, dated 3rd September 2015.

A fixed and floating charge over the buildings, fixtures and fittings of 58 Ashford Road, Manchester,
M20 3EH, dated 15th October 2014.

10. LOANS AND OTHER DEBTS DUE TO MEMBERS
2020 2019
£    £   
Amounts owed to members in respect of profits 165,192 207,277

Falling due within one year 165,192 207,277

Amounts due to members rank equally alongside the other unsecured creditors.

11. RELATED PARTY DISCLOSURES

Unless otherwise disclosed, all related party transactions have been conducted under normal market
conditions, including dividend payments to it's shareholders.

Page 6