Isaac Family LLP - Accounts to registrar (filleted) - small 18.2

Isaac Family LLP - Accounts to registrar (filleted) - small 18.2

ISAAC FAMILY LLP - Company Information

Print Friendly Version

IRIS Accounts Production v20.1.5.71 OC411408 designated member 1.4.19 31.3.20 31.3.20 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureOC4114082019-03-31OC4114082020-03-31OC4114082019-04-012020-03-31OC4114082018-03-31OC4114082018-04-012019-03-31OC4114082019-03-31OC411408ns16:EnglandWales2019-04-012020-03-31OC411408ns15:PoundSterling2019-04-012020-03-31OC411408ns11:Director12019-04-012020-03-31OC411408ns11:LimitedLiabilityPartnershipLLP2019-04-012020-03-31OC411408ns11:SmallEntities2019-04-012020-03-31OC411408ns11:AuditExempt-NoAccountantsReport2019-04-012020-03-31OC411408ns11:SmallCompaniesRegimeForAccounts2019-04-012020-03-31OC411408ns11:LimitedLiabilityPartnershipsSORP2019-04-012020-03-31OC411408ns11:FullAccounts2019-04-012020-03-31OC411408ns11:Director22019-04-012020-03-31OC411408ns11:RegisteredOffice2019-04-012020-03-31OC411408ns6:CurrentFinancialInstruments2020-03-31OC411408ns6:CurrentFinancialInstruments2019-03-31OC411408ns6:Non-currentFinancialInstruments2020-03-31OC411408ns6:Non-currentFinancialInstruments2019-03-31OC411408ns6:CostValuation2019-03-31OC411408ns6:CurrentFinancialInstrumentsns6:WithinOneYear2020-03-31OC411408ns6:CurrentFinancialInstrumentsns6:WithinOneYear2019-03-31OC411408ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2020-03-31OC411408ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2019-03-31


REGISTERED NUMBER: OC411408 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

ISAAC FAMILY LLP
ISAAC FAMILY LLP (REGISTERED NUMBER: OC411408)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ISAAC FAMILY LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2020







DESIGNATED MEMBERS: R Isaac
Mrs J M Isaac





REGISTERED OFFICE: Ravenswood
Mayes Green
Ockley
Dorking
Surrey
RH5 5PN





REGISTERED NUMBER: OC411408 (England and Wales)





ACCOUNTANTS: Nunn Hayward LLP
Chartered Accountants
2-4 Packhorse Road
Gerrards Cross
Buckinghamshire
SL9 7QE
1
ISAAC FAMILY LLP (REGISTERED NUMBER: OC411408)

BALANCE SHEET
31 MARCH 2020

2020 2019
Notes £ £ £ £
FIXED ASSETS
Investments 4 466,992 466,992
Investment property 5 1,692,065 1,692,065
2,159,057 2,159,057

CURRENT ASSETS
Debtors 6 7,979 3,706
Cash at bank 16,111 33,696
24,090 37,402
CREDITORS
Amounts falling due within one year 7 14,612 9,930
NET CURRENT ASSETS 9,478 27,472
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,168,535
2,186,529

CREDITORS
Amounts falling due after more than one
year
8
2,151,992
2,151,992
NET ASSETS ATTRIBUTABLE TO
MEMBERS
16,543
34,537

LOANS AND OTHER DEBTS DUE TO
MEMBERS
9
16,543
34,537

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 16,543 34,537

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 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

2 continued...
ISAAC FAMILY LLP (REGISTERED NUMBER: OC411408)

BALANCE SHEET - continued
31 MARCH 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 11 August 2020 and
were signed by:





R Isaac - Designated member

The notes form part of these financial statements

3
ISAAC FAMILY LLP (REGISTERED NUMBER: OC411408)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020


1. STATUTORY INFORMATION

Isaac Family 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.

Turnover
Turnover is the total amount of rental income receivable by the LLP from tenants during the period. Rental
income is recognised when a right to consideration arises under a rental agreement, and where such income
relates to future periods, recognition is deferred and then allocated to the income statement on a time elapsed
basis.

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.

The fair value of the properties is ascertained by the members using their knowledge of the local residential
property markets in which the residential properties are located.

3. EMPLOYEE INFORMATION

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 April 2019
and 31 March 2020 466,992
NET BOOK VALUE
At 31 March 2020 466,992
At 31 March 2019 466,992

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 April 2019
and 31 March 2020 1,692,065
NET BOOK VALUE
At 31 March 2020 1,692,065
At 31 March 2019 1,692,065

4 continued...
ISAAC FAMILY LLP (REGISTERED NUMBER: OC411408)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2020


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£ £
Trade debtors 7,430 206
Other debtors 549 3,500
7,979 3,706

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£ £
Other creditors 14,612 9,930

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2020 2019
£ £
Other creditors 2,151,992 2,151,992

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Loans 2,151,992 2,151,992

9. LOANS AND OTHER DEBTS DUE TO MEMBERS
2020 2019
£ £
Amounts owed to members in respect of profits 16,543 34,537

Falling due within one year 16,543 34,537

In the event of winding up, amounts in 'Loans and other debts due to members' rank equally with unsecured
creditors.

10. POST BALANCE SHEET EVENTS

At the balance sheet date, the United Kingdom had entered into a period of lock down restrictions due to the
COVID-19 pandemic.

There has been no impact on the value of the investments and the members remain confident that the net cash
inflows over the foreseeable future remain strong.

5