FF Energy LLP - Accounts to registrar (filleted) - small 18.2
FF Energy LLP - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2018 |
FOR |
FF ENERGY LLP |
FF ENERGY LLP (REGISTERED NUMBER: SO305321) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 APRIL 2018 |
Page |
General Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
FF ENERGY LLP |
GENERAL INFORMATION |
for the Year Ended 30 APRIL 2018 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Atlantic House |
1a Cadogan Street |
Glasgow |
G2 6QE |
FF ENERGY LLP (REGISTERED NUMBER: SO305321) |
STATEMENT OF FINANCIAL POSITION |
30 APRIL 2018 |
2017 | 2018 |
£ | £ | Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
1,807,668 | NET ASSETS ATTRIBUTABLE TO MEMBERS |
1,672,729 |
1,807,668 | LOANS AND OTHER DEBTS DUE TO MEMBERS |
7 |
1,672,729 |
TOTAL MEMBERS' INTERESTS |
1,807,668 | Loans and other debts due to members | 7 | 1,672,729 |
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. |
FF ENERGY LLP (REGISTERED NUMBER: SO305321) |
STATEMENT OF FINANCIAL POSITION - continued |
30 APRIL 2018 |
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 |
FF ENERGY LLP (REGISTERED NUMBER: SO305321) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 APRIL 2018 |
1. | STATUTORY INFORMATION |
FF Energy LLP is registered in Scotland, registered number SO305321. The registered office address is |
Millhill, Longside, Peterhead, Aberdeenshire, AB42 5BJ. |
The principal activity of the LLP is the generation of electricity. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The presentation currency of the financial statements is Pound Sterling (£). |
Significant judgements and estimates |
In preparing these financial statements, the members are required to make judgements, estimates and |
assumptions that affect the application of the LLP's accounting policies and the reported amounts of assets, |
liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying |
assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively. |
The following judgements and estimates have had the most significant effects on amounts recognised in the |
financial statements: |
Plant and equipment |
The estimates and assumptions made to determine asset lives require judgements to be made as regards useful |
lives and residual values. The useful lives and residual values of the company's financial assets are determined |
by management at the time the asset is acquired and reviewed annually for appropriateness. The lives are based |
on management experience with similar assets. The depreciation rates applied are outlined below. |
Turnover |
Turnover is measured at the fair value of consideration received or receivable, taking into account the amount of |
any discounts and rebates allowed by the entity, but excluding value added tax and other sales taxes. |
Production of electricity |
Income is recognised in the period in which the electricity has been generated. |
Tangible fixed assets |
Plant and machinery etc | - |
FF ENERGY LLP (REGISTERED NUMBER: SO305321) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 APRIL 2018 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The LLP has financial assets and financial liabilities of a kind that qualify as basic financial instruments. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured |
initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the |
effective interest method, less any impairment. |
Cash and cash equivalents |
Cash and cash equivalents comprises cash balances. Bank overdrafts that are payable on demand and form an |
integral part of the company's cash management are included as a component of cash and cash equivalents for |
the purpose only of the cash flow statement. |
Creditors |
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, |
are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost |
using the effective interest method. |
Provisions |
Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current |
market assessments of the time value of money and the risks specific to the liability. The unwinding of the |
discount is recognised as finance cost. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2017 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 May 2017 |
and 30 April 2018 |
DEPRECIATION |
At 1 May 2017 |
Charge for year |
At 30 April 2018 |
NET BOOK VALUE |
At 30 April 2018 |
At 30 April 2017 |
FF ENERGY LLP (REGISTERED NUMBER: SO305321) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 APRIL 2018 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a |
winding up. There is no provision for specific legally enforceable protection afforded to creditors in such an |
event. There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members' |
other interests. |