Dauwalder's Property & Investments LLP
Dauwalder's Property & Investments LLP
Registered number: OC351151
Unaudited ABRIDGED Financial Statements
For The Year Ended
31 August 2019
Dauwalder's Property & Investments LLP
Unaudited Abridged Financial Statements
For The Year Ended
31 August 2019
Unaudited Abridged Financial Statements
| Contents | |
| Page | |
|---|---|
| Accountants' Report | 1 |
| Abridged Balance Sheet | 2—3 |
| Notes to the Abridged Financial Statements | 4—5 |
Dauwalder's Property & Investments LLP
Accountants' Report
For The Year Ended
31 August 2019
Accountants' Report
Chartered Accountants' report to the partners on the preparation of the unaudited statutory accounts of Dauwalder's Property & Investments LLP For The Year Ended 31 August 2019
In order to assist you to fulfil your duties under the Companies Act 2006 as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the accounts of Dauwalder's Property & Investments LLP For The Year Ended 31 August 2019 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records and from information and explanations you have given to us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements.
This report is made solely to the partners of Dauwalder's Property & Investments LLP, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Dauwalder's Property & Investments LLP and state those matters that we have agreed to state to the partners of Dauwalder's Property & Investments LLP, as a body, in this report in accordance with AAF 2/10 as detailed at ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dauwalder's Property & Investments LLP and its partners, as a body, for our work or for this report.
It is your duty to ensure that Dauwalder's Property & Investments LLP has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Dauwalder's Property & Investments LLP. You consider that Dauwalder's Property & Investments LLP is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Dauwalder's Property & Investments LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
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Chartered Accountants
Units 1-2 Warrior Court
9-11 Mumby Road
Gosport
Hampshire
PO12 1BS
Page 1
Dauwalder's Property & Investments LLP
Abridged Balance Sheet
As at
31 August 2019
Abridged Balance Sheet
Registered number:
OC351151
For the year ending 31 August 2019 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLP's subject to the small LLPs regime.)
| 2019 | 2018 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Debtors |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS ATTRIBUTABLE TO MEMBERS |
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| REPRESENTED BY: | |||||
| Loans and other debts due to members within one year | 28,666 | 53,127 | |||
| Equity | |||||
| Members' other interests | |||||
| Members' capital | (1,803) | - | |||
| Revaluation reserve | 744,766 | 754,766 | |||
| 742,963 | 754,766 | ||||
| 771,629 | 807,893 | ||||
| TOTAL MEMBERS' INTEREST | |||||
...CONTINUED
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Dauwalder's Property & Investments LLP
Abridged Balance Sheet (continued)
As at
31 August 2019
| Amounts due from members | (31,081) | (78,208) | |||
| Loans and other debts due to members within one year | 28,666 | 53,127 | |||
| Members' other interests | 742,963 | 754,766 | |||
| 740,548 | 729,685 | ||||
Member's responsibilities:
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The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. - The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
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All of the LLP's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 August 2019 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the members
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Designated Member
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The notes on pages 4 to 5 form part of these financial statements.
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Dauwalder's Property & Investments LLP
Notes to the Abridged Financial Statements
For The Year Ended
31 August 2019
Notes to the Abridged Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in January 2017 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
The LLP has adopted the disclosure exemption negating the requirement to present a statement of cash flows and related notes.
1.2.
Turnover
Turnover represents the value of rents received and receivable for the financial period.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Motor Vehicles |
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1.4.
Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
1.5.
Loans and other debts due to members
Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of winding up. There is no provision for specific legally enforceable protection afforded to creditors in such an event. There are no restrictions or limitations on the ability of members to reduce the amount of members other interests.
2.
Average Number of Employees
The average number of persons employed under contracts of service during the year was: NIL (2018: NIL)
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Dauwalder's Property & Investments LLP
Notes to the Abridged Financial Statements (continued)
For The Year Ended
31 August 2019
3.
Tangible Assets
| Total | |
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| Cost or Valuation | |
| As at
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| Disposals |
( |
| Revaluation |
( |
| As at
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| Depreciation | |
| As at
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| Provided during the period |
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| Disposals |
( |
| As at
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| Net Book Value | |
| As at
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| As at
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4.
Related Party Transactions
Dauwalders' Ltd
Company controlled by close family interests
Dauwalder's (Stamp Dealers) Limited
Company controlled by Paul Dauwalder
Interest of £34,463 (2018: £35,379) was accrued on the loan to the related party at the rate of 3%. This accrual was settled in the ensuing financial year.
The amount due to Dauwalder’s (Stamp Dealers) Limited was offset by £67,417 due from Dauwalders' Ltd to give a final amount owed to Dauwalder’s (Stamp Dealers) Limited of £1,081,345.
This transfer was made on 31 August 2019 as part of a simplification of inter-party indebtedness.
5.
General Information
Dauwalder's Property & Investments LLP is a limited liability partnership, incorporated in England & Wales, registered number
OC351151
. The Registered Office is 42 Fisherton Street, Salisbury, Wiltshire, SP2 7RB.
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