Red Reef Developments LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC384761 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2021

FOR

RED REEF DEVELOPMENTS LIMITED

LIABILITY PARTNERSHIP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

S R Booth

D Welch

REGISTERED OFFICE:

Parkway Volkswagen

Locomotive Way

Pride Park

Derby

Derbyshire

DE24 8PU

REGISTERED NUMBER:

OC384761 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

3 Princes Court

Royal Way

Loughborough

Leicestershire

LE11 5XR

CURRENT ASSETS

Inventories

317,946

314,457

Debtors

4

9

462

Cash at bank

2,110

15,667

320,065

330,586

CREDITORS

Amounts falling due within one year

5

2,408

10,237

NET CURRENT ASSETS

317,657

320,349

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

317,657

320,349

LOANS AND OTHER DEBTS DUE TO MEMBERS

6

317,655

320,347

MEMBERS' OTHER INTERESTS

Capital accounts

2

2

317,657

320,349

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

6

317,655

320,347

Members' other interests

2

2

317,657

320,349

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 30 April 2021.

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 and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

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 the members of the LLP and authorised for issue on 31 January 2022 and were signed by:

S R Booth - Designated member

1.	STATUTORY INFORMATION

Red Reef Developments Limited Liability Partnership is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

The financial statements cover the individual entity.

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.

Inventories

Work in progress is valued at the lower of cost and net realisable value. Cost includes all purchase, transport and handling costs.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2020 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

9

462

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

178

9,155

Other creditors

2,230

1,082

2,408

10,237

6.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2021

2020

£

£

Loans from members

262,200

262,200

Amounts owed to members in respect of profits

55,455

58,147

317,655

320,347

Falling due within one year

317,655

320,347

The loan would rank as an unsecured creditor in the event of a winding up.