Apteral Developments LLP - Accounts to registrar (filleted) - small 17.3

APTERAL DEVELOPMENTS LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2017

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DESIGNATED MEMBERS:

C F Chesterton

Mrs L Chesterton

REGISTERED OFFICE:

201 Haverstock Hill

London

NW3 4QG

REGISTERED NUMBER:

OC318353 (England and Wales)

ACCOUNTANTS:

AEL Markhams Ltd

Chartered Accountants

201 Haverstock Hill

London

NW3 4QG

CURRENT ASSETS

Stocks

4

200,000

200,000

Debtors

5

1,068,108

1,069,766

Cash at bank

7,726

11,601

1,275,834

1,281,367

CREDITORS

Amounts falling due within one year

6

644

6,805

NET CURRENT ASSETS

1,275,190

1,274,562

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,275,190

1,274,562

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

1,275,190

1,274,562

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

1,275,190

1,274,562

Amounts due from members

5

(1,067,988

)

(1,068,617

)

207,202

205,945

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 14 December 2017 and were signed by:

C F Chesterton - Designated member

1.	STATUTORY INFORMATION

Apteral Developments 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.

The accounts are prepared in accordance with applicable United Kingdom Accounting Standards (United

Kingdom Generally Accepted Accounting Practice), which have been consistently applied (except as otherwise

stated).

Members' interests

All members are equity members and share in the profits and subscribe the entire capital of Apteral

Developments LLP. Each member's capital subscription is linked to his or her share of profit and is repaid in full

on ceasing to be a member. The rate of capital subscription is determined from time to time depending upon the

financing requirements of the business. Members draw a proportion of their profit share in 12 monthly on

account instalments during the year in which the profit is made, with the balance of their profits, net of a tax

retention, paid in instalments in the subsequent year. All payments are made subject to the cash requirements of

the business. Tax retentions are paid to HM Revenue and Customs on behalf of members with any excess being

released to members as appropriate.

Members' interests are analysed as appropriate between equity and debt. Amounts classified as debt are

presented as liabilities. Members' remuneration arising under arrangements for automatic division is shown as an

expense.

Tangible fixed assets

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

Computer equipment

-

33% on cost

Stock, contract provisions and long-term contracts

Stock, land held for development, including land in the course of development, and work in progress are valued

at the lower of cost and net realisable value. Cost comprises direct materials, direct labour costs, sub-contracted

work and those overheads which have been incurred in bringing the stock to their present location and condition.

Cost in certain circumstances also includes interest as explained in the accounting policy for interest. Full

provision is made for any estimated losses to completion of contracts having regard to the overall substance of

the arrangements including, if appropriate, related commitments and undertakings given by customers. Provided

that the outcome of long-term contracts can be assessed with reasonable certainty, such contracts are valued at

cost plus attributable profit earned to date.

Progress payments received, when greater than recorded turnover, are deducted from the value of work in

progress except to the extent that payments on account exceed the value of work in progress on any contract

where the excess is included in creditors. The amount by which recorded turnover of long-term contracts is in

excess of payments on account is classified as 'amounts recoverable on contracts' and is separately disclosed

within debtors.

Interest

Interest payable is charged to the profit and loss account as incurred, except where the borrowing finances stock

in the course of construction relating to residential development projects. Such interest is capitalised until the

stock is complete and sold.

Trade creditors

Trade creditors are recognised and carried at original invoice amount.

Going concern

The members have formed the judgement, at the time of approving the financial statements, are of the opinion

that the Partnership has sufficient access to financial resources which, together with internally generated cash

flows, will continue to provide sufficient sources of liquidity to fund its current operations including its

contractual and commercial commitments and the Partnership is well placed to manage its business risks

successfully, despite the current economic outlook.

For this reason, the members continue to adopt the going concern basis in preparing the financial statements.

3.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2016

and 31 March 2017

4,526

DEPRECIATION

At 1 April 2016

and 31 March 2017

4,526

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

-

4.

STOCKS

2017

2016

£

£

Net costs less foreseeable losses

200,000

200,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts due from members

1,067,988

1,068,617

VAT

120

1,149

1,068,108

1,069,766

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Accruals

644

6,805

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2017

2016

£

£

Amounts owed to members in respect of profits

8,190

7,562

Capital account

1,267,000

1,267,000

1,275,190

1,274,562

Falling due within one year

8,190

7,562

Falling due after more than one year

1,267,000

1,267,000

1,275,190

1,274,562

8.	ULTIMATE CONTROLLING PARTY

In the opinion of the members, the ultimate controlling parties are Mr C Chesterton and Mrs L Chesterton by

virtue of their control over the day to day running of the partnership.

The following reproduces the text of the report prepared for the members in respect of the LLP's annual

unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a

Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Members are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability

Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your

approval the financial statements of Apteral Developments LLP for the year ended 31 March 2017 which comprise the

Income Statement, Balance Sheet and the related notes from the LLP's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of Apteral Developments LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Apteral Developments LLP and state those matters that we have agreed to state to the members of Apteral Developments LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Apteral Developments LLP members, as a body, for our work or for this report.

It is your duty to ensure that Apteral Developments LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Apteral Developments LLP. You consider that Apteral Developments LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Apteral Developments LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

AEL Markhams Ltd

Chartered Accountants

201 Haverstock Hill

London

NW3 4QG

14 December 2017