Adams Business Finance LLP - Accounts to registrar (filleted) - small 17.3

ADAMS BUSINESS FINANCE LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

T C Adams

G W Keay

Mrs M P Barrett Rogers

REGISTERED OFFICE:

Greendale Court

Clyst St Mary

Exeter

Devon

EX5 1AW

REGISTERED NUMBER:

OC347619 (England and Wales)

ACCOUNTANTS:

Barretts

Chartered Accountants &

Chartered Tax Advisers

22 Union Street

Newton Abbot

Devon

TQ12 2JS

FIXED ASSETS

Investments

3

210,000

24,817,875

CURRENT ASSETS

Cash at bank

10,200,847

10,186,361

CREDITORS

Amounts falling due within one year

4

1

4,800

NET CURRENT ASSETS

10,200,846

10,181,561

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

10,410,846

34,999,436

LOANS AND OTHER DEBTS DUE TO MEMBERS

5

10,410,846

34,999,436

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

5

10,410,846

34,999,436

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 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 20 December 2017 and were signed by:

T C Adams - Designated member

1.	STATUTORY INFORMATION

Adams Business Finance 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 represents the interest due on loans and advances made on an accruals basis together with arrangement

and commitment fees.

Loans and advances made to customers

Loans and advances to customers are held as fixed asset investments to the extent that capital is not repayable

within 12 months of the balance sheet date. Capital repayable within twelve months of the balance sheet date is

shown within current assets.

3.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2017

2016

£

£

Loans and advances

made to customers

25,901,879

25,901,879

Repayments received

(25,691,879

)

(1,084,004

)

210,000

24,817,875

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

1

4,800

5.

LOANS AND OTHER DEBTS DUE TO MEMBERS

The loans are unsecured. It is the members' intention to repay other creditors in priority to any repayment of their

own loans.