Clinton Ecurie LLP - Accounts to registrar (filleted) - small 18.2

Clinton Ecurie LLP - Accounts to registrar (filleted) - small 18.2

CLINTON ECURIE LLP - Company Information

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REGISTERED NUMBER: OC380939 (England and Wales)















CLINTON ECURIE LLP

Unaudited Financial Statements

for the Year Ended 31 December 2017





Phoenix Business Associates Limited
Chartered Certified Accountants
The Riding School House
Bulls Lane
Wishaw
Sutton Coldfield
West Midlands
B76 9QW








CLINTON ECURIE LLP (REGISTERED NUMBER: OC380939)






Contents of the Financial Statements
for the year ended 31 December 2017




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CLINTON ECURIE LLP

General Information
for the year ended 31 December 2017







DESIGNATED MEMBERS: T A Clinton
Mrs S M Clinton





REGISTERED OFFICE: The Riding School House
Bulls Lane
Wishaw
Sutton Coldfield
West Midlands
B76 9QW





REGISTERED NUMBER: OC380939 (England and Wales)





ACCOUNTANTS: Phoenix Business Associates Limited
Chartered Certified Accountants
The Riding School House
Bulls Lane
Wishaw
Sutton Coldfield
West Midlands
B76 9QW
Page 1
CLINTON ECURIE LLP (REGISTERED NUMBER: OC380939)

Balance Sheet
31 December 2017

31/12/17 31/12/16
Notes £    £    £    £   
FIXED ASSETS
Investment property 3 1,000,000 1,000,000

CURRENT ASSETS
Cash at bank 5,609 4,622

CREDITORS
Amounts falling due within one year 4 248,470 238,188
NET CURRENT LIABILITIES (242,861 ) (233,566 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
757,139
766,434

CREDITORS
Amounts falling due after more than one
year
5
106,604
189,680
NET ASSETS ATTRIBUTABLE TO
MEMBERS
650,535
576,754

LOANS AND OTHER DEBTS DUE TO
MEMBERS
7
154,269
80,488

MEMBERS' OTHER INTERESTS
Fair value reserve 8 496,266 496,266
650,535 576,754

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 154,269 80,488
Members' other interests 496,266 496,266
650,535 576,754

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 December 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 notes form part of these financial statements

Page 2 continued...
CLINTON ECURIE LLP (REGISTERED NUMBER: OC380939)

Balance Sheet - continued
31 December 2017


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 7 June 2018 and were signed by:





T A Clinton - Designated member

The notes form part of these financial statements

Page 3
CLINTON ECURIE LLP (REGISTERED NUMBER: OC380939)

Notes to the Financial Statements
for the year ended 31 December 2017

1. STATUTORY INFORMATION

Clinton Ecurie 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.

As at the balance sheet date, the LLP has net current liabilities. However, included in creditors due
within one year is an amount owing to companies under the control of the designated members and
assurances have been given that these amounts will not be requested for repayment until such time as
the LLP has sufficient funds to do so. Accordingly the designated members believe that the going
concern basis of preparation is appropriate.

Significant judgements and estimates
The LLP operates as an investment property partnership. In accordance with the provisions of
Financial Reporting Standard 102, the members review the fair value of the investment property at
each financial year and and any gain or loss is taken to the profit and loss account. As any gain or loss
on revaluation is a non-distributable item, a transfer is then made to a balance sheet fair value reserve
so as to ensure that distributable and non-distributable reserve can be identified.

Turnover
Turnover represents rent receivable for the year excluding Value Added Tax.

Investment property
Investment property is included in the accounts at its most recent market value. No depreciation is
charged which, whilst a departure from the Companies Act, is permitted by relevant accounting
standards as any change to the property value is reflected on the balance sheet annually. Any deficit or
surplus in the carrying value is taken to the revaluation reserve on the balance sheet.

3. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2017
and 31 December 2017 1,000,000
NET BOOK VALUE
At 31 December 2017 1,000,000
At 31 December 2016 1,000,000

Fair value at 31 December 2017 is represented by:

£   
Valuation in 2016 496,266
Cost 503,734
1,000,000

Page 4 continued...
CLINTON ECURIE LLP (REGISTERED NUMBER: OC380939)

Notes to the Financial Statements - continued
for the year ended 31 December 2017

3. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical
cost:

31/12/17 31/12/16
£    £   
Cost 503,734 503,734

In accordance with the provisions of Financial Reporting Standard 102 the LLP reviewed the fair value
of its investment property as at the balance sheet date and with reference to data provided by an
external appropriately qualified expert in January 2017 has adopted a fair value of £1,000,000 as at the
balance sheet date. The Members consider this valuation to remain appropriate at 1 December 2017.

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/17 31/12/16
£    £   
Bank loans and overdrafts 14,806 14,806
Trade creditors 95 2,351
Taxation and social security 2,240 2,256
Other creditors 231,329 218,775
248,470 238,188

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/17 31/12/16
£    £   
Bank loans 106,604 189,680

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after more
than 5 years 47,381 130,457
47,381 130,457

6. SECURED DEBTS

The following secured debts are included within creditors:

31/12/17 31/12/16
£    £   
Bank loans 121,410 204,486

Page 5 continued...
CLINTON ECURIE LLP (REGISTERED NUMBER: OC380939)

Notes to the Financial Statements - continued
for the year ended 31 December 2017

7. LOANS AND OTHER DEBTS DUE TO MEMBERS
31/12/17 31/12/16
£    £   
Amounts owed to members in respect of profits 154,269 80,488

Falling due within one year 154,269 80,488

Loans and other debts due to members are unsecured, have no set date for repayment and carry no
interest. Accordingly these debts are considered to rank equally with all other unsecured creditors.

8. RESERVES
Fair
value
reserve
£   
At 1 January 2017
and 31 December 2017 496,266

Page 6