Isaac Family LLP - Accounts to registrar - small 17.2

Isaac Family LLP - Accounts to registrar - small 17.2

ISAAC FAMILY LLP - Company Information

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REGISTERED NUMBER: OC411408 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 21 APRIL 2016 TO 31 MARCH 2017

FOR

ISAAC FAMILY LLP

ISAAC FAMILY LLP (REGISTERED NUMBER: OC411408)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 21 APRIL 2016 TO 31 MARCH 2017










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ISAAC FAMILY LLP

GENERAL INFORMATION
FOR THE PERIOD 21 APRIL 2016 TO 31 MARCH 2017







DESIGNATED MEMBERS: R Isaac
Mrs J M Isaac





REGISTERED OFFICE: Ravenswood
Mayes Green
Ockley
Dorking
Surrey
RH5 5PN





REGISTERED NUMBER: OC411408 (England and Wales)





ACCOUNTANTS: Nunn Hayward LLP
Chartered Accountants
Sterling House
20 Station Road
Gerrards Cross
Buckinghamshire
SL9 8EL
1
ISAAC FAMILY LLP (REGISTERED NUMBER: OC411408)

BALANCE SHEET
31 MARCH 2017

Notes £ £
FIXED ASSETS
Investment property 3 1,500,000

CURRENT ASSETS
Debtors 4 7,058
Cash at bank 9,806
16,864
CREDITORS
Amounts falling due within one year 5 16,864
NET CURRENT LIABILITIES -
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,500,000

CREDITORS
Amounts falling due after more than one
year
6
1,500,000
NET LIABILITIES ATTRIBUTABLE TO
MEMBERS
-

LOANS AND OTHER DEBTS DUE TO
MEMBERS
-

TOTAL MEMBERS' INTERESTS
Amounts due from members 4 (5,222 )

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 period ended 31 March 2017.

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 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.

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 on 9 August 2017 and were signed by:





R Isaac - Designated member

The notes form part of these financial statements

2
ISAAC FAMILY LLP (REGISTERED NUMBER: OC411408)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 21 APRIL 2016 TO 31 MARCH 2017


1. STATUTORY INFORMATION

Isaac Family LLP is registered in England and Wales. The LLP's registered number and registered office
address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is the total amount of rental income receivable by the LLP from tenants during the period. Rental
income is recognised when a right to consideration arises under a rental agreement, and where such income
relates to future periods, recognition is deferred and then allocated to the income statement on a time elapsed
basis.

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at
fair value at each reporting date with changes in fair value recognised in the income statement.

The fair value of the properties is ascertained by the directors using their knowledge of the local residential
property markets in which the investment properties are located.

3. INVESTMENT PROPERTY
Total
£
FAIR VALUE
Additions 1,500,000
At 31 March 2017 1,500,000
NET BOOK VALUE
At 31 March 2017 1,500,000

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£
Other debtors 7,058

At 31 March 2017, an amount of £5,222 was owed to the LLP by the designated members. This debt arose as
net rental income was incorrectly paid to the members personally, rather than the LLP. No interest was charged
on this debt, and the funds were reimbursed to the LLP after the period end.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£
Other creditors 16,864

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
£
Other creditors 1,500,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Loans 1,500,000

3