Andora Properties LLP - Accounts to registrar (filleted) - small 18.2
Andora Properties LLP - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2021 |
FOR |
ANDORA PROPERTIES LLP |
ANDORA PROPERTIES LLP (REGISTERED NUMBER: OC421260) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2021 |
Page |
General Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
ANDORA PROPERTIES LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2021 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
869 High Road |
London |
N12 8QA |
ANDORA PROPERTIES LLP (REGISTERED NUMBER: OC421260) |
STATEMENT OF FINANCIAL POSITION |
31 MARCH 2021 |
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 15,715,055 | 13,945,186 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
10 |
2,431,554 |
341,685 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 11,919,501 | 13,603,501 |
Revaluation reserve | 11 |
15,715,055 | 13,945,186 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 10 | 2,431,554 | 341,685 |
Members' other interests | 13,283,501 | 13,603,501 |
15,715,055 | 13,945,186 |
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. |
ANDORA PROPERTIES LLP (REGISTERED NUMBER: OC421260) |
STATEMENT OF FINANCIAL POSITION - continued |
31 MARCH 2021 |
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 |
ANDORA PROPERTIES LLP (REGISTERED NUMBER: OC421260) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2021 |
1. | STATUTORY INFORMATION |
Andora 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 |
The Covid-19 pandemic has not significantly affected the company after the balance sheet date, and management has determined that there is no material uncertainty that casts doubt on the entity's ability to continue as a going concern. |
Turnover |
Turnover represents net rent receivable. |
Tangible fixed assets |
Plant and machinery | - |
Investment property |
Investment properties are carried at fair values. Revaluation surpluses are recognised in the statement of income. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties. |
The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in The Financial Reporting Standard 102 (Section 1A) for small entities. The partners considers that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt The Financial Reporting Standard 102 (Section 1A) for Smaller Entities in order to give a true and fair view. If this departure from the Act had not been made, the profit for the financial year would have been reduced by the amount of depreciation. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2020 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1 April 2020 |
and 31 March 2021 |
DEPRECIATION |
At 1 April 2020 |
Charge for year |
At 31 March 2021 |
NET BOOK VALUE |
At 31 March 2021 |
At 31 March 2020 |
ANDORA PROPERTIES LLP (REGISTERED NUMBER: OC421260) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2021 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2020 |
Revaluations | 1,684,000 |
At 31 March 2021 |
NET BOOK VALUE |
At 31 March 2021 |
At 31 March 2020 |
Fair value at 31 March 2021 is represented by: |
£ |
Valuation in 2020 | 21,615,000 |
Valuation in 2021 | 1,684,000 |
23,299,000 |
If investment properties had not been revalued they would have been included at the following historical cost: |
2021 | 2020 |
£ | £ |
Cost | 21,615,000 | 21,615,000 |
Investment properties were valued on a fair value basis on 31 March 2021 by professional valuers . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
Amounts owed by participating interests | 2,838,036 | 2,221,628 |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
ANDORA PROPERTIES LLP (REGISTERED NUMBER: OC421260) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2021 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2021 | 2020 |
£ | £ |
Bank loans |
Bank loan is secured by way of a fixed charge on the properties of the LLP. |
10. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members rank equally with other creditors on a winding up. |
11. | RESERVES |
Revaluation |
reserve |
£ |
Revaluation reserves | 1,364,000 |
At 31 March 2021 |
12. | ULTIMATE CONTROLLING PARTY |
During the year under review, there was no single ultimate controlling party. |