Anchorage Bioenergy LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC340783 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

ANCHORAGE BIOENERGY LLP

Page

General Information

1

Statement of Comprehensive Income

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DESIGNATED MEMBERS:

Mr D J Bryant

Mrs A M Bryant

REGISTERED OFFICE:

22 Anchorage Way

Eastbourne

East Sussex

BN23 5BE

REGISTERED NUMBER:

OC340783 (England and Wales)

ACCOUNTANTS:

Acuity Professional Partnership LLP

Unit 2.02

High Weald House

Glovers End

Bexhill

East Sussex

TN39 5ES

TURNOVER

-

-

Administrative expenses

3,094

1,809

(3,094

)

(1,809

)

Other operating income

150

871

OPERATING LOSS and

LOSS FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

(2,944

)

(938

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(2,944

)

(938

)

CURRENT ASSETS

Debtors

21,773

23,414

Cash at bank

184

15

21,957

23,429

CREDITORS

Amounts falling due within one year

4

13,706

13,706

NET CURRENT ASSETS

8,251

9,723

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

8,251

9,723

LOANS AND OTHER DEBTS DUE TO MEMBERS

5

8,251

9,723

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

5

8,251

9,723

Amounts due from members

(21,773

)

(23,414

)

(13,522

)

(13,691

)

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.

The financial statements were approved by the members of the LLP and authorised for issue on 26 January 2021 and were signed by:

Mr D J Bryant - Designated member

1.	STATUTORY INFORMATION

Anchorage Bioenergy 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.

The preparation of financial statements in conformity with FRS 102 section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

ACCOUNTING ESTIMATES AND JUDGEMENTS

In preparing the financial statements, the directors are required to make estimates and judgements about the carrying amounts of assets and liabilities. The estimates and assumptions are reviewed on an ongoing basis and are based on historical experience and other factors that are considered by the directors to be relevant. Revision to accounting estimates are recognised in the period in which the estimate is revised.

FINANCIAL INSTRUMENT

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of Financial Liability

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basis Financial Liability

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

3.	EMPLOYEE INFORMATION

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

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

VAT

12,086

12,086

Accrued expenses

1,620

1,620

13,706

13,706

5.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2020

2019

£

£

Amounts owed to members in respect of profits

8,251

9,723

Falling due within one year

8,251

9,723

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.