Mariquita LLP - LLP accounts 20.1

REGISTERED NUMBER: OC377398 (England and Wales)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

FOR

MARIQUITA LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DESIGNATED MEMBERS:

J C W Caulcutt

S Hemsley

J Matheson

REGISTERED OFFICE:

Hunton Manor

Hunton Down Lane

Sutton Scotney

Winchester

SO21 3PT

REGISTERED NUMBER:

OC377398 (England and Wales)

ACCOUNTANTS:

Baldwin Scofield Accountancy LLP

Chartered Accountants

3 Newhouse Business Centre

Old Crawley Road

Horsham

West Sussex

RH12 4RU

The members present their report with the financial statements of the LLP for the year ended 31 October 2020.

CESSATION OF TRADING

The LLP ceased trading on 4 October 2021.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of investment in the yacht Mariquita.

DESIGNATED MEMBERS

The designated members during the year under review were:

J C W Caulcutt

S Hemsley

J Matheson

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The loss for the year before members' remuneration and profit shares was £879,032 (2019 - £52,136 loss).

MEMBERS' INTERESTS

Members interests on cessation are transferred to the remaining members equally in accordance with the partnership agreement.

ON BEHALF OF THE MEMBERS:

J C W Caulcutt - Designated member

28 September 2021

TURNOVER

-

Administrative expenses

919,032

64,636

(919,032

)

(64,636

)

Other operating income

40,000

12,500

OPERATING LOSS and

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

(879,032

)

(52,136

)

FIXED ASSETS

Investments

5

-

1,175,522

CURRENT ASSETS

Cash at bank

7,081

6,273

CREDITORS

Amounts falling due within one year

6

2,508

6,140

NET CURRENT ASSETS

4,573

133

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO
MEMBERS

4,573

1,175,655

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

4,573

1,175,655

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

4,573

1,175,655

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 October 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 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 28 September 2021 and were signed by:

J C W Caulcutt - Designated member

1.	STATUTORY INFORMATION

Mariquita 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.

Tangible fixed assets

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

3.	EMPLOYEE INFORMATION

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

4.	OPERATING LOSS

The operating loss is stated after charging:

31.10.20

31.10.19

£

Depreciation - owned assets

-

7,500

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

31.10.20

31.10.19

£

Yacht Mariquita

1,175,522

Sale of Yacht

(1,175,522

)

-

1,175,522

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.20

31.10.19

£

Other creditors

2,508

6,140

7.

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.