Fairmead Chingford LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC393677 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

FOR

FAIRMEAD CHINGFORD LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mr J J Devereux

Mrs E Devereux

Mr G King

REGISTERED OFFICE:

Solar House

282 Chase Road

London

N14 6NZ

REGISTERED NUMBER:

OC393677 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Investment property

3

1,012,915

1,012,915

CURRENT ASSETS

Debtors

4

16,600

16,600

Cash at bank

3,082

11,270

19,682

27,870

CREDITORS

Amounts falling due within one year

5

243,900

245,400

NET CURRENT LIABILITIES

(224,218

)

(217,530

)

TOTAL ASSETS LESS CURRENT LIABILITIES

788,697

795,385

CREDITORS

Amounts falling due after more than one year

6

557,500

575,500

NET ASSETS ATTRIBUTABLE TO MEMBERS

231,197

219,885

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

231,197

219,885

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

231,197

219,885

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 30 June 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 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 6 September 2018 and were signed by:

Mr J J Devereux - Designated member

1.	STATUTORY INFORMATION

Fairmead Chingford 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.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2017

and 30 June 2018

1,012,915

NET BOOK VALUE

At 30 June 2018

1,012,915

At 30 June 2017

1,012,915

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade debtors

16,600

16,600

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Loan from related company

240,000

240,000

Accrued expenses

3,900

5,400

243,900

245,400

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.18

30.6.17

£

£

Other loans (see note 7)

557,500

575,500

7.

LOANS

An analysis of the maturity of loans is given below:

30.6.18

30.6.17

£

£

Amounts falling due between one and two years:

Bank loan

557,500

575,500

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

30.6.18

30.6.17

£

£

Amounts owed to members in respect of profits

231,197

219,885

Falling due within one year

231,197

219,885

The bank loan is secured by a charge on the LLP'S investment property.