Fairmead Chingford LLP - Accounts to registrar - small 17.2

Fairmead Chingford LLP - Accounts to registrar - small 17.2

FAIRMEAD CHINGFORD LLP - Company Information

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REGISTERED NUMBER: OC393677 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

FOR

FAIRMEAD CHINGFORD LLP

FAIRMEAD CHINGFORD LLP (REGISTERED NUMBER: OC393677)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2017










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FAIRMEAD CHINGFORD LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 30 JUNE 2017







DESIGNATED MEMBERS: Mr J J Devereux
Mrs E Devereux
Mr G King





REGISTERED OFFICE: Solar House
282 Chase Road
London
N14 6NZ





REGISTERED NUMBER: OC393677 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certified Accountants
Solar House
282 Chase Road
London
N14 6NZ
Page 1
FAIRMEAD CHINGFORD LLP (REGISTERED NUMBER: OC393677)

BALANCE SHEET
30 JUNE 2017

30.6.17 30.6.16
Notes £    £    £    £   
FIXED ASSETS
Investment property 3 1,012,915 -

CURRENT ASSETS
Stocks 4 - 1,092,237
Debtors 5 16,600 -
Cash at bank 11,270 439
27,870 1,092,676
CREDITORS
Amounts falling due within one year 6 245,400 332,176
NET CURRENT (LIABILITIES)/ASSETS (217,530 ) 760,500
TOTAL ASSETS LESS CURRENT
LIABILITIES
795,385
760,500

CREDITORS
Amounts falling due after more than one
year
7
575,500
-
NET ASSETS ATTRIBUTABLE TO
MEMBERS
219,885
760,500

LOANS AND OTHER DEBTS DUE TO
MEMBERS
9
219,885
760,500

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 219,885 760,500

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 June 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 notes form part of these financial statements

Page 2 continued...
FAIRMEAD CHINGFORD LLP (REGISTERED NUMBER: OC393677)

BALANCE SHEET - continued
30 JUNE 2017


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 13 September 2017 and were signed by:





Mr J J Devereux - Designated member

The notes form part of these financial statements

Page 3
FAIRMEAD CHINGFORD LLP (REGISTERED NUMBER: OC393677)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2017


1. STATUTORY INFORMATION

Fairmead Chingford 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in
bringing stocks to their present location and condition.

3. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 1,012,915
At 30 June 2017 1,012,915
NET BOOK VALUE
At 30 June 2017 1,012,915

4. STOCKS
30.6.17 30.6.16
£    £   
Work-in-progress - 1,092,237

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.17 30.6.16
£    £   
Trade debtors 16,600 -

Page 4 continued...
FAIRMEAD CHINGFORD LLP (REGISTERED NUMBER: OC393677)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2017


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.17 30.6.16
£    £   
Loan from related company 240,000 330,226
Accrued expenses 5,400 1,950
245,400 332,176

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.17 30.6.16
£    £   
Other loans (see note 8) 575,500 -

8. LOANS

An analysis of the maturity of loans is given below:

30.6.17 30.6.16
£    £   
Amounts falling due between one and two years:
Bank loan 575,500 -

9. LOANS AND OTHER DEBTS DUE TO MEMBERS
30.6.17 30.6.16
£    £   
Amounts owed to members in respect of profits 219,885 760,500

Falling due within one year 219,885 760,500

The bank loan is secured by a charge on the LLP'S investment property.

10. FIRST YEAR ADOPTION

In the transition to FRS 102 from the old UK GAAP, there were no material measurement and recognition
adjustments required.

Page 5