Six Ways Properties LLP - LLP accounts 20.1

REGISTERED NUMBER: OC309841 (England and Wales)

Report of the Members and

Unaudited Financial Statements for the Year Ended 30 November 2019

for

Six Ways Properties LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

M Reid

REGISTERED OFFICE:

Thornloe House

25 Barbourne Road

Worcester

Worcestershire

WR1 1RU

REGISTERED NUMBER:

OC309841 (England and Wales)

ACCOUNTANTS:

SW&A Accountants

Unit 7 Ball Mill Top

Main Road

Hallow

Worcester

Worcestershire

The members present their report with the financial statements of the LLP for the year ended 30 November 2019.

DESIGNATED MEMBERS

The designated members during the year under review were:

M Reid

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £5,760 (2018 - £4,334

profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

M Reid - Designated member

17 August 2020

TURNOVER

12,555

14,800

Administrative expenses

6,795

10,466

OPERATING PROFIT and

PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS'
REMUNERATION AND PROFIT
SHARES

5,760

4,334

PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS'
REMUNERATION AND PROFIT
SHARES

5,760

4,334

Members' remuneration charged as
an expense

4

(5,760

)

(4,334

)

PROFIT FOR THE FINANCIAL YEAR
AVAILABLE FOR DISCRETIONARY
DIVISION AMONG MEMBERS

-

CURRENT ASSETS

Stocks

221,567

220,229

Cash at bank

2,106

2,705

223,673

222,934

CREDITORS

Amounts falling due within one year

5

1,231

569

NET CURRENT ASSETS

222,442

222,365

TOTAL ASSETS LESS CURRENT
LIABILITIES

222,442

222,365

CREDITORS

Amounts falling due after more than
one year

6

104,105

109,787

NET ASSETS ATTRIBUTABLE TO
MEMBERS

118,337

112,578

LOANS AND OTHER DEBTS DUE
TO MEMBERS

7

60,829

55,070

MEMBERS' OTHER INTERESTS

Capital accounts

49,533

Revaluation reserve

8

7,975

118,337

112,578

TOTAL MEMBERS' INTERESTS

Loans and other debts due to
members

7

60,829

55,070

Members' other interests

57,508

118,337

112,578

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 30 November 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 and authorised for issue on
17 August 2020 and were signed by:

M Reid - Designated member

1.	STATUTORY INFORMATION

Six Ways Properties 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

3.	EMPLOYEE INFORMATION

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

4.	INFORMATION IN RELATION TO MEMBERS

30.11.19

30.11.18

£

Members' remuneration charged as an expense

Automatic division of profit

5,760

4,334

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.19

30.11.18

£

Trade creditors

199

(1

)

Other creditors

1,032

570

1,231

569

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

30.11.19

30.11.18

£

Bank loans

104,105

109,787

30.11.19

30.11.18

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

104,105

109,787

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

30.11.19

30.11.18

£

Amounts owed to members in respect of profits

60,829

55,070

Falling due within one year

60,829

55,070

As there are no Creditors art Year end - Members debts (other than members capital

classified as debt) would take Priority in this instance.

8.

RESERVES

Revaluatio

reserve

£

At 1 December 2018

and 30 November 2019

7,975