Laver Greens LLP - LLP accounts 18.1

Laver Greens LLP - LLP accounts 18.1

LAVER GREENS LLP - Company Information

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REGISTERED NUMBER: OC390502 (England and Wales)







REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

FOR

LAVER GREENS LLP
LAVER GREENS LLP (REGISTERED NUMBER: OC390502)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018










Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


LAVER GREENS LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2018







DESIGNATED MEMBERS: Mr J J Devereux
Mrs E Devereux





REGISTERED OFFICE: Solar House
282 Chase Road
London
N14 6NZ





REGISTERED NUMBER: OC390502 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certified Accountants
Solar House
282 Chase Road
London
N14 6NZ
Page 1
LAVER GREENS LLP (REGISTERED NUMBER: OC390502)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 JANUARY 2018


The members present their report with the financial statements of the LLP for the year ended 31 January 2018.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of property development.

DESIGNATED MEMBERS
The designated members during the year under review were:

Mr J J Devereux
Mrs E Devereux

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £58,403 (2017 - £219,822 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:





Mr J J Devereux - Designated member


12 May 2018

Page 2
LAVER GREENS LLP (REGISTERED NUMBER: OC390502)

INCOME STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2018

31.1.18 31.1.17
Notes £    £   

TURNOVER 842,047 1,538,730

Cost of sales 784,082 1,313,499
GROSS PROFIT 57,965 225,231

Administrative expenses 9,462 5,409
48,503 219,822

Other operating income 9,900 -
OPERATING PROFIT and
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS



58,403



219,822

The notes form part of these financial statements

Page 3
LAVER GREENS LLP (REGISTERED NUMBER: OC390502)

BALANCE SHEET
31 JANUARY 2018

31.1.18 31.1.17
Notes £    £   
CURRENT ASSETS
Stocks 1,100,156 664,265
Debtors 1,462 1,462
Cash at bank 16,769 43,331
1,118,387 709,058
CREDITORS
Amounts falling due within one year 3 1,093,310 687,414
NET CURRENT ASSETS 25,077 21,644
TOTAL ASSETS LESS CURRENT
LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS
25,077
21,644

LOANS AND OTHER DEBTS DUE TO
MEMBERS
4
25,077
21,644

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 4 25,077 21,644
Amounts due from members (1,462 ) (1,462 )
23,615 20,182

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 January 2018.

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 notes form part of these financial statements

Page 4 continued...
LAVER GREENS LLP (REGISTERED NUMBER: OC390502)

BALANCE SHEET - continued
31 JANUARY 2018


The financial statements have been prepared 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.

The financial statements were approved by the members of the LLP on 12 May 2018 and were signed by:





Mr J J Devereux - Designated member

The notes form part of these financial statements

Page 5
LAVER GREENS LLP (REGISTERED NUMBER: OC390502)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018


1. STATUTORY INFORMATION

Laver Greens 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in
bringing stocks to their present location and condition.

3. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.18 31.1.17
£    £   
Amount due to related parties 608,653 683,814
Amounts due to members 481,057 -
Accrued expenses 3,600 3,600
1,093,310 687,414

4. LOANS AND OTHER DEBTS DUE TO MEMBERS
31.1.18 31.1.17
£    £   
Amounts owed to members in respect of profits 25,077 21,644

Falling due within one year 25,077 21,644

Page 6