Centaur Property Trading LLP - LLP accounts 16.3

REGISTERED NUMBER: OC316752 (England and Wales)

Report of the Members and

Unaudited Financial Statements for the Year Ended 31 March 2016

for

Centaur Property Trading LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

P Fernback

A G Fernback

L Fernback

Centaur Property Estates Limited

A Fernbackpen No 1 Limited

REGISTERED OFFICE:

34 St George Street

Mayfair

London

W1S 2ND

REGISTERED NUMBER:

OC316752 (England and Wales)

The members present their report with the financial statements of the LLP for the year ended 31 March 2016.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of renting, management and trading of commercial

properties.

DESIGNATED MEMBERS

The designated members during the year under review were:

P Fernback

A G Fernback

L Fernback

Centaur Property Estates Limited

A Fernbackpen No 1 Limited

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The loss for the year before members' remuneration and profit shares was £36,296 (2015 - £47,410 profit).

MEMBERS' INTERESTS

MEMBERS CAPITAL AND INTERESTS

The capital of the LLP is determined and agreed by the designated members on a periodic basis linked to the financing

and business needs of the LLP. The capital belongs to the members in the proportions in which it has been contributed.

The members share of the capital is repayable at its original value on retirement or ceasing to be a member of the LLP.

Profits are allocated to the members during the year in accordance with the members agreement.

ON BEHALF OF THE MEMBERS:

P Fernback - Designated member

23 December 2016

TURNOVER

-

20,000

Cost of sales

29,777

(27,907

)

GROSS (LOSS)/PROFIT

(29,777

)

47,907

Administrative expenses

61

(6,000

)

OPERATING (LOSS)/PROFIT

(29,838

)

53,907

Interest payable and similar expenses

6,458

6,497

(LOSS)/PROFIT FOR THE FINANCIAL
YEAR BEFORE MEMBERS'
REMUNERATION AND PROFIT
SHARES

(36,296

)

47,410

(LOSS)/PROFIT FOR THE FINANCIAL
YEAR BEFORE MEMBERS'
REMUNERATION AND PROFIT
SHARES

(36,296

)

47,410

Members' remuneration charged as an
expense

3

36,296

(47,410

)

PROFIT FOR THE FINANCIAL YEAR
AVAILABLE FOR DISCRETIONARY
DIVISION AMONG MEMBERS

-

FIXED ASSETS

Tangible assets

4

850,000

500,000

CURRENT ASSETS

Debtors

5

79,975

63,620

Cash at bank

29

885

80,004

64,505

CREDITORS

Amounts falling due within one year

6

1,803,527

1,604,028

NET CURRENT LIABILITIES

(1,723,523

)

(1,539,523

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(873,523

)

(1,039,523

)

CREDITORS

Amounts falling due after more than one
year

7

-

184,000

NET LIABILITIES ATTRIBUTABLE TO
MEMBERS

(873,523

)

(1,223,523

)

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

MEMBERS' OTHER INTERESTS

Capital accounts

(1,410,823

)

(1,410,823

)

Revaluation reserve

8

537,300

187,300

(873,523

)

(1,223,523

)

TOTAL MEMBERS' INTERESTS

Members' other interests

(873,523

)

(1,223,523

)

Amounts due from members

5

(79,916

)

(43,620

)

(953,439

)

(1,267,143

)

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 31 March 2016.

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 in accordance with the provisions of Part 15 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 small LLPs.

The financial statements were approved by the members of the LLP on 23 December 2016 and were signed by:

P Fernback - Designated member

1.	STATUTORY INFORMATION

Centaur Property Trading 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

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents the amounts receivable for rent and service charge income, net of VAT and trade discounts.

Income from letting of investment properties is recognised evenly over the lease contract period.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated

to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful

lives.

Tax provisions

The tax payable based on the profits of the LLP is the personal liability of the individual members. Any

provision retained is therefore, included within loans and other debts due to members.

Investment property

Investment properties are included in the balance sheet at their open market value. Depreciation is only provided

on the investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities

(effective January 2005), it is a departure from the general requirements of the Companies Act 1985 for all

tangible assets to be depreciated. In the opinion of the directors compliance with this standard is necessary for

the financial statements to give a true and fair view. Depreciation or amortisation is only one of the many factors

reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be

separately identified or quantified.

3.	INFORMATION IN RELATION TO MEMBERS

31.3.16

31.3.15

£

Members' remuneration charged as an expense

Automatic division of (loss)/profit

(36,296

)

47,410

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

At 1 April 2015

500,000

Revaluations

350,000

At 31 March 2016

850,000

NET BOOK VALUE

At 31 March 2016

850,000

At 31 March 2015

500,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.16

31.3.15

£

Amounts due from members

79,916

43,620

Amount owed by related parties

-

20,000

Prepayments

59

-

79,975

63,620

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.16

31.3.15

£

Trade creditors

76

92

Amount owed to related parties

1,800,279

1,601,434

Tenant Deposits

1,300

Accruals and deferred income

1,872

1,202

1,803,527

1,604,028

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.16

31.3.15

£

Bank loans - 2-5 years

-

184,000

The bank loan was repaid in full during the year and all bank legal charges on the property released.

8.

RESERVES

Revaluation

reserve

£

At 1 April 2015

187,300

Current Year

350,000

At 31 March 2016

537,300

9.	RELATED PARTY DISCLOSURES

At the year end, Centaur Property Trading LLP owed the following balances:

Company

2016

2015

Centaur Property Group Ltd

41,650

(20,000

)

Centaur Property Estate Ltd

1,608,489

1,505,784

Centaur Property Investment Ltd

15,400

8,500

Spedho Ltd

7,100

5,500

Kingsway London Ltd

-

76,650

Barclay Property Trading LLP

1,010

-

Knowlwood Trading LLP

106,530

1,000

Champions Properties LLP

13,700

-

Alpenmile Properties Ltd

2,400

-

Barclays Estates Ltd

4,000

-

10.	ULTIMATE CONTROLLING PARTY

The members do not consider there to be an ultimate controlling party.