ACCOUNTS - Final Accounts preparation

Loans and other debts due to members

ADAMS ROW CAPITAL LLP - Company Information

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Registered number: OC367675

ADAMS ROW CAPITAL LLP

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

ADAMS ROW CAPITAL LLP

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 AUGUST 2021

	2021	2020
	£	£


Turnover	16,034	52,323
Gross profit	16,034	52,323
Administrative expenses	(5,402)	(4,243)
Operating profit	10,632	48,080
Interest receivable and similar income	-	141
Profit before tax	10,632	48,221
Profit for the year before members' remuneration and profit shares available for discretionary division among members	10,632	48,221

There was no other comprehensive income for 2021(2020:£NIL).

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

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ADAMS ROW CAPITAL LLP

REGISTERED NUMBER: OC367675

STATEMENT OF FINANCIAL POSITION

AS AT 31 AUGUST 2021

		2021		2020
Note		£		£

Fixed assets
Investment property	3		585,594		585,594
			585,594		585,594
Current assets
Debtors: amounts falling due within one year	4	4,200		-
Cash at bank and in hand		7,158		35,915
		11,358		35,915
Creditors: Amounts Falling Due Within One Year	5	(3,499)		(7,688)
Net current assets			7,859		28,227
Total assets less current liabilities			593,453		613,821

Net assets			593,453		613,821

Represented by:
Loans and other debts due to members within one year
Other amounts	6		76,433		28,211
			76,433		28,211
Members' other interests
Members' capital classified as equity		506,388		537,388
Other reserves classified as equity		10,632		48,222
			517,020		585,610
			593,453		613,821

Total members' interests
Loans and other debts due to members	6	76,433	28,211
Members' other interests		517,020	585,610
		593,453	613,821

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ADAMS ROW CAPITAL LLP

REGISTERED NUMBER: OC367675

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 AUGUST 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 financial statements were approved and authorised for issue by the members and were signed on their behalf by:

D F Gardner

Designated member

Date: 14 December 2021

Adams Row Capital 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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ADAMS ROW CAPITAL LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

1.	General information

Adams Row Capital LLP is a limited liability partnership, incorporated in England and Wales, registered number OC367675. Its registered office address is 10 Queen Street Place, London, EC4R 1AG and its principal place of business is 10 Stavordale Lodge, 10-12 Melbury Road, London, W14 8LW.
The principal activity of the LLP is that of acquisition and ownership of investment properties.

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.
Revenue represents rental income due less payment received in advance.

2.3

Investment property

Investment property is carried at fair value determined annually by designated members, who are Chartered Surveyor 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. Changes in fair value are recognised in the Statement of Comprehensive Income.

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.5

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.

2.6

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.

2.7

Creditors

Short term creditors are measured at the transaction price.

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ADAMS ROW CAPITAL LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

2.Accounting policies (continued)

2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

3.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 September 2020	585,594
	At 31 August 2021	585,594

The 2021 valuations were made by the designated members, who are Chartered Surveyors, on an open market value for existing use basis.

Debtors

					2021	2020
					£	£


Trade debtors	4,200	-

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

Other taxation and social security	1,746	3,138
Other creditors	703	-
Accruals and deferred income	1,050	4,550
	3,499	7,688

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ADAMS ROW CAPITAL LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021


	Other amounts due to members	(76,433)	(28,211)

Loans and other debts due to members may be further analysed as follows:

					2021	2020
					£	£


	Falling due within one year	(76,433)	(28,211)

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

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