Future Ambitions Investments LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC420668 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Future Ambitions Investments LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

M R Warburton

L M Warburton

C F Warburton

REGISTERED OFFICE:

8 Winmarleigh Street

Warrington

Cheshire

WA1 1JW

REGISTERED NUMBER:

OC420668 (England and Wales)

ACCOUNTANTS:

Voisey & Co

Chartered Accountants

8 Winmarleigh Street

Warrington

Cheshire

WA1 1JW

FIXED ASSETS

Investments

4

220,480

220,480

Investment property

5

630,000

630,000

850,480

850,480

CURRENT ASSETS

Cash at bank

34,924

13,934

CREDITORS

Amounts falling due within one year

6

182,176

171,096

NET CURRENT LIABILITIES

(147,252

)

(157,162

)

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

703,228

693,318

LOANS AND OTHER DEBTS DUE TO MEMBERS

42,494

32,584

MEMBERS' OTHER INTERESTS

Capital accounts

660,734

660,734

703,228

693,318

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

42,494

32,584

Members' other interests

660,734

660,734

703,228

693,318

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 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 30 October 2020 and were signed by:

C F Warburton - Designated member

M R Warburton - Designated member

1.	STATUTORY INFORMATION

Future Ambitions Investments 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 as modified by the revaluation of certain assets.

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.

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

220,480

NET BOOK VALUE

At 31 March 2020

220,480

At 31 March 2019

220,480

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2019

and 31 March 2020

630,000

NET BOOK VALUE

At 31 March 2020

630,000

At 31 March 2019

630,000

The Investment property was professionally valued by Ashtons estate agents on 24 January 2018 on an open market value basis.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Amounts owed to group undertakings

173,806

169,246

Accrued expenses

8,370

1,850

182,176

171,096