Portland Road LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC394478 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st July 2019

for

Portland Road LLP

Page

Abridged Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

5

447

596

Investment property

6

551,892

631,561

552,339

632,157

CURRENT ASSETS

Debtors

89,667

89,667

Cash at bank

4,947

4,682

94,614

94,349

CREDITORS

Amounts falling due within one year

32,472

24,472

NET CURRENT ASSETS

62,142

69,877

TOTAL ASSETS LESS CURRENT LIABILITIES

614,481

702,034

CREDITORS

Amounts falling due after more than one year

7

227,337

239,325

NET ASSETS ATTRIBUTABLE TO MEMBERS

387,144

462,709

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

387,144

462,709

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

387,144

462,709

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 31st July 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st July 2019 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

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 accounts has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 30th June 2020 and were signed by:

Mr. M N Pons - Designated member

1.	STATUTORY INFORMATION

Portland Road LLP is registered in England and Wales. The LLP's registered number and registered office address

are as below:

Registered number:

OC394478

Registered office:

Kings Lodge

London Road

West Kingsdown

Sevenoaks

Kent

TN15 6AR

The presentation 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 under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

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.

4.	EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2018 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st August 2018

and 31st July 2019

1,413

DEPRECIATION

At 1st August 2018

817

Charge for year

149

At 31st July 2019

966

NET BOOK VALUE

At 31st July 2019

447

At 31st July 2018

596

6.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1st August 2018

631,561

Disposals

(92,300

)

Revaluations

12,631

At 31st July 2019

551,892

NET BOOK VALUE

At 31st July 2019

551,892

At 31st July 2018

631,561

Cost or valuation at 31st July 2019 is represented by:

£

Valuation in 2019

12,631

Cost

539,261

551,892

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2019

2018

£

£

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

121,042

133,030

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

The balances shown above would rank below unsecured creditors from the proceeds of a winding-up of the LLP.

9.	ULTIMATE CONTROLLING PARTY

During the period, the ultimate controlling party was Mr M Pons by virtue of having control of the designated

members.