TWB Regen LLP - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SO304810 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

TWB Regen LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

C N Horne

I Williams

REGISTERED OFFICE:

5 Whitefriars Crescent

Perth

Perthshire

PH1 0PA

REGISTERED NUMBER:

SO304810 (Scotland)

ACCOUNTANTS:

Campbell Dallas Limited

Accountants

Titanium 1

King's Inch Place

Renfrew

PA4 8WF

FIXED ASSETS

Tangible assets

3

1,918,134

1,120,000

CURRENT ASSETS

Debtors

4

68,120

20,704

Cash at bank

20,673

1,059

88,793

21,763

CREDITORS

Amounts falling due within one year

5

126,900

18,936

NET CURRENT (LIABILITIES)/ASSETS

(38,107

)

2,827

TOTAL ASSETS LESS CURRENT LIABILITIES

1,880,027

1,122,827

CREDITORS

Amounts falling due after more than one year

6

1,480,042

890,000

NET ASSETS ATTRIBUTABLE TO MEMBERS

399,985

232,827

LOANS AND OTHER DEBTS DUE TO MEMBERS

4,985

2,827

MEMBERS' OTHER INTERESTS

Capital accounts

395,000

230,000

399,985

232,827

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

4,985

2,827

Members' other interests

395,000

230,000

399,985

232,827

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 22 December 2017 and were signed by:

I Williams - Designated member

1.	STATUTORY INFORMATION

TWB Regen LLP is registered in Scotland. 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 rents and service charges due for the period, excluding value added tax.

Tangible fixed assets

No depreciation has been charged on land and buildings or tenant's improvements as in the opinion of the

members the asset has a long remaining useful life and a high anticipated residual value.

The asset will be reviewed annually for any impairment.

3.	TANGIBLE FIXED ASSETS

Heritable

Tenant's

property

improvements

Totals

£

£

£

COST

At 1 April 2016

-

1,120,000

1,120,000

Additions

798,134

-

798,134

At 31 March 2017

798,134

1,120,000

1,918,134

NET BOOK VALUE

At 31 March 2017

798,134

1,120,000

1,918,134

At 31 March 2016

-

1,120,000

1,120,000

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

33,903

18,701

Other debtors

34,217

2,003

68,120

20,704

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

34,329

-

Trade creditors

25,363

18,244

Other creditors

67,208

692

126,900

18,936

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

590,042

-

Other creditors

890,000

890,000

1,480,042

890,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans

890,000

890,000

7.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

624,371

-

Loans

890,000

890,000

1,514,371

890,000

The bank loan is secured by a floating charge over the property and undertaking of the LLP.

The other loan is secured by a first ranking standard security over the tenant's interest in the interposed

lease.

8.	ULTIMATE CONTROLLING PARTY

The LLP is controlled by the members.