Arden Property Management LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SO301137 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2020

FOR

ARDEN PROPERTY MANAGEMENT LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Miss R A Waugh

Mrs C Smith

Miss E Waugh

REGISTERED OFFICE:

43 Morningside Road

Edinburgh

EH10 4DR

REGISTERED NUMBER:

SO301137 (Scotland)

ACCOUNTANTS:

Mc Creath & Co Limited

Bank House

20A Strathearn Road

Edinburgh

EH9 2AB

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

3,051

4,364

Investment property

6

461,205

461,205

464,256

465,569

CURRENT ASSETS

Debtors

7

229,329

201,164

Cash at bank and in hand

38,950

7,735

268,279

208,899

CREDITORS

Amounts falling due within one year

8

165,601

163,223

NET CURRENT ASSETS

102,678

45,676

TOTAL ASSETS LESS CURRENT LIABILITIES

566,934

511,245

CREDITORS

Amounts falling due after more than one year

9

258,563

273,237

NET ASSETS ATTRIBUTABLE TO MEMBERS

308,371

238,008

LOANS AND OTHER DEBTS DUE TO MEMBERS

11

308,371

238,008

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

11

308,371

238,008

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 April 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 29 April 2021 and were signed by:

Mrs C Smith - Designated member

1.	STATUTORY INFORMATION

Arden Property Management LLP is registered in Scotland. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents net invoiced sales of goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of business, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

in accordance with the property

Plant and machinery etc

-

25% on cost

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 10 (2019 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2019

177,881

Disposals

(177,881

)

At 30 April 2020

-

AMORTISATION

At 1 May 2019

177,881

Eliminated on disposal

(177,881

)

At 30 April 2020

-

NET BOOK VALUE

At 30 April 2020

-

At 30 April 2019

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 May 2019

84,176

97,122

181,298

Additions

-

1,365

1,365

At 30 April 2020

84,176

98,487

182,663

DEPRECIATION

At 1 May 2019

82,056

94,878

176,934

Charge for year

1,060

1,618

2,678

At 30 April 2020

83,116

96,496

179,612

NET BOOK VALUE

At 30 April 2020

1,060

1,991

3,051

At 30 April 2019

2,120

2,244

4,364

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2019

and 30 April 2020

461,205

NET BOOK VALUE

At 30 April 2020

461,205

At 30 April 2019

461,205

Mrs C Smith considers the valuation of the investment properties appropriate based on an open market basis.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

38,321

54,215

Other debtors

128,973

118,437

Prepayments and accrued income

62,035

-

Prepayments

-

28,512

229,329

201,164

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

32,829

32,829

Trade creditors

22,982

15,602

Taxation and social security

24,186

29,954

Other creditors

85,604

84,838

165,601

163,223

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

258,563

273,237

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

225,734

240,408

10.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loans

291,392

306,066

The bank loan is secured by way of a bond and floating charge over the assets of the business.

11.

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 a 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 the members to reduce the amount of ‘Members’ other interests'

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs C Smith.