Living Smart Partners LLP - Accounts to registrar (filleted) - small 18.2

Living Smart Partners LLP - Accounts to registrar (filleted) - small 18.2

LIVING SMART PARTNERS LLP - Company Information

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IRIS Accounts Production v18.2.0.360 OC372057 designated member designated member 1.3.17 28.2.18 28.2.18 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureOC3720572017-02-28OC3720572018-02-28OC3720572017-03-012018-02-28OC3720572016-02-29OC3720572016-03-012017-02-28OC3720572017-02-28OC372057ns15:EnglandWales2017-03-012018-02-28OC372057ns14:PoundSterling2017-03-012018-02-28OC372057ns10:Director12017-03-012018-02-28OC372057ns10:Director22017-03-012018-02-28OC372057ns10:LimitedLiabilityPartnershipLLP2017-03-012018-02-28OC372057ns10:SmallEntities2017-03-012018-02-28OC372057ns10:AuditExempt-NoAccountantsReport2017-03-012018-02-28OC372057ns10:SmallCompaniesRegimeForAccounts2017-03-012018-02-28OC372057ns10:LimitedLiabilityPartnershipsSORP2017-03-012018-02-28OC372057ns10:FullAccounts2017-03-012018-02-28OC372057ns10:RegisteredOffice2017-03-012018-02-28OC372057ns5:CurrentFinancialInstruments2018-02-28OC372057ns5:CurrentFinancialInstruments2017-02-28OC372057ns5:Non-currentFinancialInstruments2018-02-28OC372057ns5:Non-currentFinancialInstruments2017-02-28OC372057ns5:PlantMachinery2017-03-012018-02-28OC372057ns5:PlantMachinery2017-02-28OC372057ns5:PlantMachinery2018-02-28OC372057ns5:PlantMachinery2017-02-28OC372057ns5:CostValuation2017-02-28OC372057ns5:CurrentFinancialInstrumentsns5:WithinOneYear2018-02-28OC372057ns5:CurrentFinancialInstrumentsns5:WithinOneYear2017-02-28


REGISTERED NUMBER: OC372057 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2018

FOR

LIVING SMART PARTNERS LLP
d&t
Chartered Accountants
Swatton Barn
Badbury
Swindon
Wiltshire
SN4 0EU








LIVING SMART PARTNERS LLP (REGISTERED NUMBER: OC372057)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LIVING SMART PARTNERS LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2018







DESIGNATED MEMBERS: B Thorns
T Thorns





REGISTERED OFFICE: Suite 2
26 Regent Road
Altrincham
WA14 1RP





REGISTERED NUMBER: OC372057 (England and Wales)





ACCOUNTANTS: d&t
Chartered Accountants
Swatton Barn
Badbury
Swindon
Wiltshire
SN4 0EU
Page 1
LIVING SMART PARTNERS LLP (REGISTERED NUMBER: OC372057)

BALANCE SHEET
28 FEBRUARY 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 17,105 24,212
Investments 4 4,470 4,470
Investment property 5 992,678 890,000
1,014,253 918,682

CURRENT ASSETS
Debtors 6 905 698
Cash at bank 34,335 11,337
35,240 12,035
CREDITORS
Amounts falling due within one year 7 1,258 87,788
NET CURRENT ASSETS/(LIABILITIES) 33,982 (75,753 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,048,235
842,929

CREDITORS
Amounts falling due after more than one
year
8
728,842
632,622
NET ASSETS ATTRIBUTABLE TO
MEMBERS
319,393
210,307

LOANS AND OTHER DEBTS DUE TO
MEMBERS
10
319,393
210,307

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 319,393 210,307

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 28 February 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 2 continued...
LIVING SMART PARTNERS LLP (REGISTERED NUMBER: OC372057)

BALANCE SHEET - continued
28 FEBRUARY 2018


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 28 September 2018 and were signed
by:





T Thorns - Designated member

The notes form part of these financial statements

Page 3
LIVING SMART PARTNERS LLP (REGISTERED NUMBER: OC372057)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018

1. STATUTORY INFORMATION

Living Smart Partners LLP is registered in England and Wales. The LLP's registered number and
registered office address can be found on the General 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 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.

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

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% straight line basis

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. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2017
and 28 February 2018 34,586
DEPRECIATION
At 1 March 2017 10,374
Charge for year 7,107
At 28 February 2018 17,481
NET BOOK VALUE
At 28 February 2018 17,105
At 28 February 2017 24,212

Page 4 continued...
LIVING SMART PARTNERS LLP (REGISTERED NUMBER: OC372057)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2018

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2017
and 28 February 2018 4,470
NET BOOK VALUE
At 28 February 2018 4,470
At 28 February 2017 4,470

5. INVESTMENT PROPERTY

The investment properties were valued on an open market basis on 28 February 2017 by the
designated members.

Cost or valuation at 28 February 2018 is represented by:

£   
Valuation in 2017 263,397
Valuation in 2018 90,000
Cost 639,281
992,678

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Other debtors 905 698

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Other creditors 1,258 87,788

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2018 2017
£    £   
Other creditors 728,842 632,622

Page 5 continued...
LIVING SMART PARTNERS LLP (REGISTERED NUMBER: OC372057)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2018

9. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Other Creditors 628,842 532,622

The loans included within other creditors are secured by way of the following:

A fixed and floating charge over the land, buildings, fixtures and fittings of 39 Talbot Road,
Fallowfield, Manchester, M14 6TA, dated 20th September 2016.

A fixed and floating charge over the buildings, fixtures and fittings of 97 Old Moat Lane, Manchester,
M20 3EJ, dated 3rd September 2015.

A fixed and floating charge over the buildings, fixtures and fittings of 58 Ashford Road, Manchester,
M20 3EH, dated 15th October 2014.

10. LOANS AND OTHER DEBTS DUE TO MEMBERS
2018 2017
£    £   
Amounts owed to members in respect of profits 319,393 210,307

Falling due within one year 319,393 210,307

Amounts due to members rank equally alongside the other unsecured creditors.

11. RELATED PARTY DISCLOSURES

Unless otherwise disclosed, all related party transactions have been conducted under normal market
conditions.

Page 6