EPIM General Partner 1 Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06004424 (England and Wales)

Unaudited Financial Statements

For The Year Ended 30 June 2017

for

EPIM General Partner 1 Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr A A JB Smith

Mr C Fell

SECRETARY:

Mr A A JB Smith

REGISTERED OFFICE:

Elevation House, Unit 1

Marlin Office Village

Chester Road, Castle Bromwich

Birmingham

West Midlands

B35 7AZ

REGISTERED NUMBER:

06004424 (England and Wales)

ACCOUNTANTS:

Cottons Accountants LLP

The Stables

Church Walk

Daventry

Northamptonshire

NN11 4BL

CURRENT ASSETS

Debtors

3

558

3,698

Cash at bank

6,050

4,853

6,608

8,551

CREDITORS

Amounts falling due within one year

4

1,630

3,307

NET CURRENT ASSETS

4,978

5,244

TOTAL ASSETS LESS CURRENT LIABILITIES

4,978

5,244

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

4,878

5,144

SHAREHOLDERS' FUNDS

4,978

5,244

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 29 March 2018 and were signed on its behalf by:

Mr A A JB Smith - Director

1.	STATUTORY INFORMATION

EPIM General Partner 1 Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information

page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 Companies Act 2006. 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/6/17

30/6/16

£

£

Trade debtors

-

2,140

VAT

558

58

Prepayments

-

1,500

558

3,698

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/6/17

30/6/16

£

£

Trade creditors

1,630

1,807

Accrued expenses

-

1,500

1,630

3,307

5.	RELATED PARTY DISCLOSURES

The profit and loss account for the year shows an expense totalling £9,255 (2016 £7,483) for "Management

fees to EPIM". This is in relation to the company being charged for management services by Elevation

Property Investment Management Limited, a company in which Mr. A. Smith and Mr. C. Fell are also

directors. At the year end date an amount of £500 (2016 £1,800) is included as a creditor and a net amount of

£Nil (2016 £1,500) is included as a prepayment on the balance sheet.

Elevation Property Investment Fund Limited Partnership, a partnership in which EPIM General Partner 1

Limited acts as General Partner has been charged by the company in the year management fees amounting to

£9,255 (2016 £7,483). At the year end date an amount of £Nil (2016 £2,140) in respect to such charges is

included within trade debtors and a net amount of £Nil (2016 £1,500) is included as deferred income on the

balance sheet. The amount of £1,122 (2016 £Nil) is owed to Elevation Property Investment Fund Limited

Partnership at the year end shown in trade creditors.

6.	PROFIT SHARE FROM ELEVATION PROPERTY INVESTMENT FUND LIMITED PARTNERSHIP

The company has received no share of profit in the period from Elevation Property Investment Fund Limited

Partnership, of which it is General Partner.