Rayfords LLP
Rayfords LLP
Registered number: OC348479
Unaudited Financial Statements
For The Year Ended
30 September 2020
Rayfords LLP
Unaudited Financial Statements
For The Year Ended
30 September 2020
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Reconciliation of Members' Interests | 3—5 |
| Notes to the Financial Statements | 5—6 |
Rayfords LLP
Balance Sheet
As at
30 September 2020
Balance Sheet
Registered number:
OC348479
For the year ending 30 September 2020 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLP's subject to the small LLPs regime.)
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 6 |
( |
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| NET ASSETS ATTRIBUTABLE TO MEMBERS |
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| REPRESENTED BY: | |||||
| Loans and other debts due to members within one year | |||||
| Members' capital classified as a liability | - | 2 | |||
| Other amounts | 893,745 | 912,979 | |||
| 893,745 | 912,981 | ||||
| Equity | |||||
| Members' other interests | |||||
| Other reserves | 5 | 3 | |||
| 5 | 3 | ||||
| 893,750 | 912,984 | ||||
| TOTAL MEMBERS' INTEREST | |||||
| Loans and other debts due to members within one year | 893,745 | 912,981 | |||
| Members' other interests | 5 | 3 | |||
| 893,750 | 912,984 | ||||
Page 1
Rayfords LLP
Balance Sheet (continued)
As at
30 September 2020
Member's responsibilities:
-
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. - The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
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Partner
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The notes on pages 5 to 6 form part of these financial statements.
Page 2
Rayfords LLP
Reconciliation of Members' Interests
For The Year Ended
30 September 2020
Reconciliation of Members' Interests
Reconciliation of Members' Interests
| EQUITY | DEBT | |||
|---|---|---|---|---|
| Members' other interests | Loans and other debts due to members less any amounts due from members in debtors | |||
| Revaluation Reserve | Other Reserves | Total Equity | Members'Capital classified as Debt | |
| £ | £ | £ | £ | |
| Amounts due to members | - | - | - | - |
| Balance at 1 October 2018 |
|
|
1,092,001 | - |
| Profit/(loss) for the financial year available for discretionary division among members | - |
|
|
- |
| Members' interests after profit/(loss) for the year |
|
868,685 | 1,960,684 | - |
| Other divisions of profits (losses) | - | (868,680) | (868,680) | - |
| Deficit arising on revaluation of fixed assets | (1,091,999) | - | (1,091,999) | - |
| Drawings | - | - | - | - |
| Other Movements | - | (2) | (2) | 2 |
| Amounts due to members | - | - | - | 2 |
| As at 30 September 2019 and 1 October 2019 | - | 3 | 3 | 2 |
| Profit/(loss) for the financial year available for discretionary division among members | - |
|
|
- |
| Members' interests after profit/(loss) for the year |
|
55,904 | 55,904 | 2 |
| Other divisions of profits (losses) | - | (55,899) | (55,899) | - |
| Drawings | - | - | - | - |
| Repayment of Capital | - | - | - | (2) |
| Amounts due to members | - | - | - | - |
| As at
|
- | 5 | 5 | - |
| DEBT | |||
|---|---|---|---|
| Loans and other debts due to members less any amounts due from members in debtors | |||
| Other amounts | Total Debts | Total members' interest | |
| £ | £ | £ | |
| Amounts due to members | 79,226 | 79,226 | - |
| Balance at 1 October 2018 | 79,226 | 79,226 | 1,171,227 |
| Profit/(loss) for the financial year available for discretionary division among members | - | - |
|
| Members' interests after profit/(loss) for the year | 79,226 | 79,226 | 2,039,910 |
| Other divisions of profits (losses) | 868,680 | 868,680 | - |
...CONTINUED
Page 3
Rayfords LLP
Reconciliation of Members' Interests (continued)
For The Year Ended
30 September 2020
| Deficit arising on revaluation of fixed assets | - | - | (1,091,999) |
| Drawings | (34,927) | (34,927) | (34,927) |
| Other Movements | - | 2 | - |
| Amounts due to members | 912,979 | 912,981 | - |
| As at 30 September 2019 and 1 October 2019 | 912,979 | 912,981 | 912,984 |
| Profit/(loss) for the financial year available for discretionary division among members | - | - |
|
| Members' interests after profit/(loss) for the year | 912,979 | 912,981 | 968,885 |
| Other divisions of profits (losses) | 55,899 | 55,899 | - |
| Drawings | (75,133) | (75,133) | (75,133) |
| Repayment of Capital | - | (2) | (2) |
| Amounts due to members | 893,745 | 893,745 | - |
| As at
|
893,745 | 893,745 | 893,750 |
Page 4
Rayfords LLP
Notes to the Financial Statements
For The Year Ended
30 September 2020
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2018 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
1.2.
Statement of Cash Flow
The LLP has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cash flow statement on the grounds that it is a small LLP.
1.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
1.5.
Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.
Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2019: NIL)
3.
Tangible Assets
| Investment Properties | |
|---|---|
| £ | |
| Cost | |
| As at
|
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| Additions | 863,175 |
| Disposals |
( |
| As at
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| Net Book Value | |
| As at
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| As at
|
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Page 5
Rayfords LLP
Notes to the Financial Statements (continued)
For The Year Ended
30 September 2020
4.
Debtors
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors |
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5.
Creditors: Amounts Falling Due Within One Year
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Other creditors |
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| Accruals and deferred income (Current liabilities - creditors < 1 year) |
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( |
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( |
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6.
Creditors: Amounts Falling Due After More Than One Year
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| RYFH Settlement loan |
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7.
General Information
Rayfords LLP is a limited liability partnership, incorporated in England & Wales, registered number
OC348479
. The Registered Office is EUROPA HOUSE, 46-50 SOUTHWICK SQUARE, SOUTHWICK, BRIGHTON, BN42 4FJ.
Page 6