ACCOUNTS - Final Accounts

AMSTONE VENTURES II LLP - Company Information

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Registered number: OC393487

AMSTONE VENTURES II LLP

Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 March 2021

AMSTONE VENTURES II LLP

Registered number: OC393487

Balance sheet

As at 31 March 2021

		2021		2020
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	5,385		18,370
Cash at bank and in hand	5	103,835		164,558
		109,220		182,928
Creditors: Amounts Falling Due Within One Year	6	(51,320)		(115,502)
Net current assets			57,900		67,426
Total assets less current liabilities			57,900		67,426

Net assets			57,900		67,426

Represented by:
Loans and other debts due to members within one year
Members' other interests
Members' capital classified as equity	100		100
Other reserves classified as equity	57,800		67,326
		57,900		67,426
		57,900		67,426

Total members' interests
Members' other interests	57,900	67,426
	57,900	67,426

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AMSTONE VENTURES II LLP

Registered number: OC393487

Balance sheet (continued)

As at 31 March 2021

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity 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.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the profit and loss account in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 30 November 2021.

KH II Estates 121 Limited	Amstone Residential Limited
Designated member	Designated member

The notes on pages 4 to 6 form part of these financial statements.

Amstone Ventures II LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.

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AMSTONE VENTURES II LLP

Reconciliation of members' interests

For the Year Ended 31 March 2021


	EQUITY Members' other interests
	Members' capital (classified as equity)	Other reserves	Total
	£	£	£
Loss for the year available for discretionary division among members	-	(9,526)	(9,526)
Members' interests after profit for the year	100	57,800	57,900
Balance at 31 March 2021	100	57,800	57,900

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

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AMSTONE VENTURES II LLP

Notes to the financial statements

For the Year Ended 31 March 2021

1.	General information

Amstone Ventures II LLP (company number OC393487) is a limited liability partnership, registered in England and Wales. Its registered offie is at 3 Hollins House, 331 Hale Road, Hale Barns, Altrincham, Cheshire, WA15 8TS.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the LLP has transferred the significant risks and rewards of ownership to the buyer;

∙the LLP retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the LLP will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the LLP will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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AMSTONE VENTURES II LLP

Notes to the financial statements

For the Year Ended 31 March 2021

2.Accounting policies (continued)

2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.5

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.6

Long-term contracts

Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.

2.7

Financial instruments

The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 1).

Debtors

					2021	2020
					£	£


	Trade debtors	-	8,000

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AMSTONE VENTURES II LLP

Notes to the financial statements

For the Year Ended 31 March 2021

4.Debtors (continued)

Other debtors	5,385	10,370
	5,385	18,370

5.	Cash and cash equivalents
		2021	2020
		£	£

Cash at bank and in hand	103,835	164,558
	103,835	164,558

6.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Trade creditors	1,110	2,220
Other creditors	300	300
Accruals and deferred income	49,910	112,982
	51,320	115,502

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