Archway Building Services LLP - Accounts to registrar (filleted) - small 18.2

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2018

FOR

ARCHWAY BUILDING SERVICES LLP

Page

General Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

B J Simpson

Mrs C C Simpson

REGISTERED OFFICE:

Systems House

Morton Street

Manchester

Lancashire

M24 6AN

REGISTERED NUMBER:

OC301648 (England and Wales)

ACCOUNTANTS:

DTE Business Advisers Limited

Chartered Accountants

The Exchange

5 Bank Street

Bury

BL9 0DN

BANKERS:

National Westminster Bank plc

Unit 6-9

Midway House

Long Street

Middleton

Manchester

M24 6NW

FIXED ASSETS

Investment property

3

214,382

304,382

CURRENT ASSETS

Debtors

4

26,000

541

Cash at bank

31

18

26,031

559

CREDITORS

Amounts falling due within one year

5

(45,349

)

(19,891

)

NET CURRENT LIABILITIES

(19,318

)

(19,332

)

TOTAL ASSETS LESS CURRENT LIABILITIES

195,064

285,050

CREDITORS

Amounts falling due after more than one year

6

(94,470

)

(113,732

)

NET ASSETS ATTRIBUTABLE TO MEMBERS

100,594

171,318

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

100,594

171,318

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

100,594

171,318

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 5 April 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 19 December 2018 and were signed by:

B J Simpson - Designated member

1.	STATUTORY INFORMATION

Archway Building Services LLP is registered in England and Wales. The LLP's registered number is OC301648

and its registered office address is Systems House, Morton Street, Manchester, Lancashire, M24 6AN.

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.

Significant judgements and estimates

In the application of the company's accounting policies, the members are required to make estimates and

judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ

from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which

the estimate is revised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying

amount of assets and liabilities are outlined below:-

i) Determining the fair value of investment properties as at the year end date.

Investment property

Investment property is shown at the most recent valuation by the designated members. Any aggregate surplus or

deficit arising from changes in market value is recognised in the income statement.

Financial instruments

The LLP only enters into basic financial instruments transactions that result in the recognition of financial assets

and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and

loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised

in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost.

Rental income

Rental income comprises the aggregate of the fair value of the rental services provided. Revenue is recognised as

those services are provided to the occupants of the property.

3.	INVESTMENT PROPERTY

Total

£

Fair value

At 6 April 2017

304,382

Disposals

(90,000

)

At 5 April 2018

214,382

Net book value

At 5 April 2018

214,382

At 5 April 2017

304,382

The investment property has been valued by the designated members at its open market value on the year end

date.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

VAT

-

541

Prepayments and accrued income

26,000

-

26,000

541

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

18,392

18,392

VAT

25,457

-

Accruals and deferred income

1,500

1,499

45,349

19,891

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans - 1-5 years

73,566

73,566

Bank loans more 5 yr by instal

20,904

40,166

94,470

113,732

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

20,904

40,166

7.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loan

112,862

132,124

The bank loan is secured on the investment property.

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally alongside other unsecured creditors.