Six Ways Properties LLP - Accounts to registrar - small 17.2

REGISTERED NUMBER: OC309841 (England and Wales)

Financial Statements for the Year Ended 30th November 2016

for

Six Ways Properties LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mr Mark Alistair Reid

Mr Michael Edward Reid

Mrs Jane Reid

Mr Ian Phillip Kyte

Mr Glyn Wilks

REGISTERED OFFICE:

Thorneloe House

25 Barbourne Road

Worcester

Worcestershire

WR1 1RU

REGISTERED NUMBER:

OC309841 (England and Wales)

ACCOUNTANTS:

The Richards Sandy Partnership

Thorneloe House

25 Barbourne Road

Worcester

Worcestershire

WR1 1RU

FIXED ASSETS

Investment property

3

320,001

320,001

CURRENT ASSETS

Cash at bank

1,419

1,114

CREDITORS

Amounts falling due within one year

4

9,100

8,429

NET CURRENT LIABILITIES

(7,681

)

(7,315

)

TOTAL ASSETS LESS CURRENT LIABILITIES

312,320

312,686

CREDITORS

Amounts falling due after more than one year

5

173,901

182,699

NET ASSETS ATTRIBUTABLE TO MEMBERS

138,419

129,987

LOANS AND OTHER DEBTS DUE TO MEMBERS

6

36,196

27,764

MEMBERS' OTHER INTERESTS

Capital accounts

94,248

94,248

Fair value reserve

7

7,975

7,975

138,419

129,987

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

6

36,196

27,764

Members' other interests

102,223

102,223

138,419

129,987

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 30th November 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 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 31st August 2017 and were signed by:

Mr Glyn Wilks - Designated member

1.	STATUTORY INFORMATION

Six Ways Properties 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.

INVESTMENT PROPERTY

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in the fair value reserve.

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st December 2015

and 30th November 2016

320,001

NET BOOK VALUE

At 30th November 2016

320,001

At 30th November 2015

320,001

Cost or valuation at 30th November 2016 is represented by:

£

Valuation in 2012

7,975

Cost

312,026

320,001

If the investment properties had not been revalued they would have been included at the following historical cost:

2016

2015

£

£

Cost

312,026

312,026

The investment properties were valued on an open market basis on 30th November 2016 by the members .

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

8,206

7,613

Trade creditors

456

396

Accruals and deferred income

438

420

9,100

8,429

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Bank loans - 2-5 years

32,823

30,454

Bank loans more 5 yr by instal

141,078

152,245

173,901

182,699

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

141,078

152,245

6.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a

winding up.

There is no provision for specific legally enforceable protection afforded to creditors in such an event.

There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members' other

interests'.

7.

RESERVES

Fair

value

reserve

£

At 1st December 2015

and 30th November 2016

7,975