Norfolk Lodge Poole LLP - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: OC317911 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Norfolk Lodge Poole LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

P I H Pressland

J E Pressland

REGISTERED OFFICE:

14 Church Street

Whitchurch

Basingstoke

Hampshire

RG28 7AB

REGISTERED NUMBER:

OC317911 (England and Wales)

ACCOUNTANTS:

Wheeler & Co Ltd

Chartered Accountants

The Shrubbery

14 Church Street

Whitchurch

Hampshire

RG28 7AB

FIXED ASSETS

Tangible assets

3

2,200,000

1,340,732

CURRENT ASSETS

Debtors

4

-

2,261

Cash at bank

56,615

226,822

56,615

229,083

CREDITORS

Amounts falling due within one year

5

457,855

107,855

NET CURRENT (LIABILITIES)/ASSETS

(401,240

)

121,228

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,798,760

1,461,960

LOANS AND OTHER DEBTS DUE TO MEMBERS

6

406,235

418,069

MEMBERS' OTHER INTERESTS

Capital accounts

1,043,891

1,043,891

Revaluation reserve

7

348,634

-

1,798,760

1,461,960

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

6

406,235

418,069

Members' other interests

1,392,525

1,043,891

1,798,760

1,461,960

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 19 December 2017 and were signed by:

J E Pressland - Designated member

1.	STATUTORY INFORMATION

Norfolk Lodge Poole 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

3.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

At 1 April 2016

1,340,732

Additions

510,634

Revaluations

348,634

At 31 March 2017

2,200,000

NET BOOK VALUE

At 31 March 2017

2,200,000

At 31 March 2016

1,340,732

Cost or valuation at 31 March 2017 is represented by:

Land and

buildings

£

Valuation in 2017

348,634

Cost

1,851,366

2,200,000

If freehold property had not been revalued they would have been included at the following historical cost:

2017

2016

£

£

Cost

1,851,366

-

freehold property were valued on an open market basis on 30 November 2017 by the partners .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

-

2,261

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other creditors

457,855

107,855

6.

LOANS AND OTHER DEBTS DUE TO MEMBERS

other creditors take priority over any loans and other debts due to members.

7.

RESERVES

Revaluation

reserve

£

Freehold property

348,634

At 31 March 2017

348,634