Craven Park Road Llp - LLP accounts 20.1

Craven Park Road Llp - LLP accounts 20.1

CRAVEN PARK ROAD LLP - Company Information

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REGISTERED NUMBER: OC375846 (England and Wales)




















REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

CRAVEN PARK ROAD LLP
CRAVEN PARK ROAD LLP (REGISTERED NUMBER: OC375846)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019










Page

General Information 1

Report of the Members 2

Profit and Loss 3

Balance Sheet 4

Notes to the Financial Statements 6


CRAVEN PARK ROAD LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2019







DESIGNATED MEMBERS: G L Properties Group Ltd
Yelkus 2 Limited





REGISTERED OFFICE: First Floor, Winston House
349 Regents Park Road
London
N3 1DH





REGISTERED NUMBER: OC375846 (England and Wales)





ACCOUNTANTS: Melinek Fine LLP
Chartered Accountants
First Floor, Winston House
349 Regents Park Road
London
N3 1DH
Page 1
CRAVEN PARK ROAD LLP (REGISTERED NUMBER: OC375846)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 DECEMBER 2019


The members present their report with the financial statements of the LLP for the year ended 31 December 2019.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of property rental.

DESIGNATED MEMBERS
The designated members during the year under review were:

G L Properties Group Ltd
Yelkus 2 Limited

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £127,135 (2018 - £60,536 profit).

MEMBERS' INTERESTS
This report has been prepared in accordance with the special provisions of Part 15 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 small LLPs.

ON BEHALF OF THE MEMBERS:





G L Properties Group Ltd - Designated member


21 September 2020

Page 2
CRAVEN PARK ROAD LLP (REGISTERED NUMBER: OC375846)

PROFIT AND LOSS
FOR THE YEAR ENDED 31 DECEMBER 2019

period
6.4.18
year ended to
31.12.19 31.12.18
Notes £    £   

TURNOVER 412,721 338,374

Administrative expenses 98,549 150,469
OPERATING PROFIT 4 314,172 187,905


Interest payable and similar expenses 187,037 127,369
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION AND
PROFIT SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS



127,135



60,536

The notes form part of these financial statements

Page 3
CRAVEN PARK ROAD LLP (REGISTERED NUMBER: OC375846)

BALANCE SHEET
31 DECEMBER 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 2,385 10,240
Investment property 6 6,402,022 6,402,022
6,404,407 6,412,262

CURRENT ASSETS
Debtors 7 305,571 292,632
Cash at bank 4,249 2,053
309,820 294,685
CREDITORS
Amounts falling due within one year 8 18,752 25,512
NET CURRENT ASSETS 291,068 269,173
TOTAL ASSETS LESS CURRENT
LIABILITIES
6,695,475
6,681,435

CREDITORS
Amounts falling due after more than one year 9 3,060,400 3,046,488
NET ASSETS ATTRIBUTABLE TO
MEMBERS
3,635,075
3,634,947

LOANS AND OTHER DEBTS DUE TO
MEMBERS
11
734
606

MEMBERS' OTHER INTERESTS
Capital accounts 88,612 88,612
Other reserves 3,545,729 3,545,729
3,635,075 3,634,947

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 11 734 606
Members' other interests 3,634,341 3,634,341
Amounts due from members 7 (195,247 ) (260,006 )
3,439,828 3,374,941

The notes form part of these financial statements

Page 4 continued...
CRAVEN PARK ROAD LLP (REGISTERED NUMBER: OC375846)

BALANCE SHEET - continued
31 DECEMBER 2019


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 December 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 21 September 2020 and
were signed by:





G L Properties Group Ltd - Designated member

The notes form part of these financial statements

Page 5
CRAVEN PARK ROAD LLP (REGISTERED NUMBER: OC375846)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019


1. STATUTORY INFORMATION

Craven Park Road 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.

Rent is recognised on an accrual basis over the term of the lease.

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 - 20% on cost

Investment property
Investment property is shown at the market value. Any aggregate surplus or deficit arising from changes in fair
value is recognised in profit or loss.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual
provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a
financing transaction, where it is recognised at the present value of the future payments discounted at a market
rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost unless they are classified as receivable within one
year in which case they are measured at the undiscounted amount of the cash or other consideration expected to
be received net of impairment.

Financial liabilities that are classified as payable within one year are subsequently measured at the undiscounted
amount of the cash or other consideration expected to be paid.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an
enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise
the asset or settle the liability simultaneously.

3. EMPLOYEE INFORMATION

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

4. OPERATING PROFIT

The operating profit is stated after charging:

period
6.4.18
year ended to
31.12.19 31.12.18
£    £   
Depreciation - owned assets 11,331 10,636

Page 6 continued...
CRAVEN PARK ROAD LLP (REGISTERED NUMBER: OC375846)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2019


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2019 64,942
Additions 3,476
At 31 December 2019 68,418
DEPRECIATION
At 1 January 2019 54,702
Charge for year 11,331
At 31 December 2019 66,033
NET BOOK VALUE
At 31 December 2019 2,385
At 31 December 2018 10,240

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2019
and 31 December 2019 6,402,022
NET BOOK VALUE
At 31 December 2019 6,402,022
At 31 December 2018 6,402,022

The director believes that the market value of the investment properties to be not materially different to the
carrying value based on his knowledge of the comparative local properties.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade debtors 25,241 17,614
Other debtors 280,330 275,018
305,571 292,632

Included in other debtors is £190,148 due back from Members of the LLP (£260,006 Dec 2018).

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade creditors 16,652 23,295
Other creditors 2,100 2,217
18,752 25,512

Page 7 continued...
CRAVEN PARK ROAD LLP (REGISTERED NUMBER: OC375846)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2019


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2019 2018
£    £   
Bank loans 3,060,400 3,046,488

10. SECURED DEBTS

The following secured debts are included within creditors:

2019 2018
£    £   
Bank loans 3,060,400 3,046,488

11. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu with other unsecured debts.

Page 8