Norfolk Lodge Poole LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC317911 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2018

for

Norfolk Lodge Poole LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

P I H Pressland

J E Pressland

REGISTERED OFFICE:

14 Church Street

Whitchurch

Basingstoke

Hampshire

RG28 7AB

REGISTERED NUMBER:

OC317911 (England and Wales)

ACCOUNTANTS:

Wheeler & Co Ltd

Chartered Accountants

The Shrubbery

14 Church Street

Whitchurch

Hampshire

RG28 7AB

FIXED ASSETS

Tangible assets

3

2,585,635

2,200,000

CURRENT ASSETS

Debtors

4

926

-

Cash at bank

6,368

56,615

7,294

56,615

CREDITORS

Amounts falling due within one year

5

388,788

457,855

NET CURRENT LIABILITIES

(381,494

)

(401,240

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,204,141

1,798,760

CREDITORS

Amounts falling due after more than one year

6

1,250,000

-

NET ASSETS ATTRIBUTABLE TO MEMBERS

954,141

1,798,760

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

250,005

406,235

MEMBERS' OTHER INTERESTS

Capital accounts

355,502

1,043,891

Revaluation reserve

8

348,634

348,634

954,141

1,798,760

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

250,005

406,235

Members' other interests

704,136

1,392,525

954,141

1,798,760

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 March 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 21 December 2018 and were signed by:

J E Pressland - Designated member

1.	STATUTORY INFORMATION

Norfolk Lodge Poole 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.

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.

3.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

At 1 April 2017

2,200,000

Additions

385,635

At 31 March 2018

2,585,635

NET BOOK VALUE

At 31 March 2018

2,585,635

At 31 March 2017

2,200,000

Cost or valuation at 31 March 2018 is represented by:

Land and

buildings

£

Valuation in 2017

348,634

Cost

2,237,001

2,585,635

If freehold property had not been revalued they would have been included at the following historical cost:

2018

2017

£

£

Cost

2,237,001

1,851,366

freehold property were valued on an open market basis on 30 November 2017 by the partners .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

926

-

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

12,934

-

Other creditors

375,854

457,855

388,788

457,855

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

1,250,000

-

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

other creditors take priority over any loans and other debts due to members.

8.

RESERVES

Revaluation

reserve

£

At 1 April 2017

and 31 March 2018

348,634