Alchemy Properties LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC387943 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020

FOR

ALCHEMY PROPERTIES LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

A N Butcher

The Rhion and Erin Butcher Trust

Miss E O Butcher

The Rhion Butcher Trust

REGISTERED OFFICE:

175 Risca Road

Newport

Gwent

NP20 3PQ

REGISTERED NUMBER:

OC387943 (England and Wales)

ACCOUNTANTS:

DAVID WRIGHT ACCOUNTANTS LIMITED

1st Floor..

Nathaniel House

David Street

Bridgend

South Wales

CF31 3SA

FIXED ASSETS

Investment property

4

1,468,799

1,233,726

CURRENT ASSETS

Debtors

5

3,684

351

Cash at bank

923

2,801

4,607

3,152

CREDITORS

Amounts falling due within one year

6

73,443

67,379

NET CURRENT LIABILITIES

(68,836

)

(64,227

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,399,963

1,169,499

CREDITORS

Amounts falling due after more than one year

7

760,210

376,930

NET ASSETS ATTRIBUTABLE TO MEMBERS

639,753

792,569

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

639,753

792,569

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

639,753

792,569

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 September 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 25 May 2021 and were signed by:

A N Butcher - Designated member

1.	STATUTORY INFORMATION

Alchemy 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents net invoiced rental, excluding value added tax.

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.

Investment properties

No depreciation is required in respect of investment properties in accordance with the Financial Reporting Standard for Smaller Entities.

3.	EMPLOYEE INFORMATION

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2019

1,233,726

Additions

235,073

At 30 September 2020

1,468,799

NET BOOK VALUE

At 30 September 2020

1,468,799

At 30 September 2019

1,233,726

Fair value at 30 September 2020 is represented by:

£

Valuation in 2017

318,988

Cost

1,149,811

1,468,799

If the investment properties had not been revalued they would have been included at the following historical cost:

30/9/20

30/9/19

£

£

Cost

1,149,811

914,738

The members carried out their own fair value assessment of the investment properties. The members have arrived at their assessment of the fair value of the investment properties following informal discussions with a local chartered surveyor and following a review of selling prices of similar properties in their area.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/20

30/9/19

£

£

Other debtors

3,684

351

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/20

30/9/19

£

£

Trade creditors

(1

)

-

Taxation and social security

1,171

2,700

Other creditors

72,273

64,679

73,443

67,379

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/9/20

30/9/19

£

£

Other creditors

760,210

376,930

8.	SECURED DEBTS

The following secured debts are included within creditors:

30/9/20

30/9/19

£

£

Loans

760,210

408,335

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

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