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REGISTERED NUMBER:
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ACRESFIELD CAPITAL LLP |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2019 |
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REGISTERED NUMBER:
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ACRESFIELD CAPITAL LLP |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2019 |
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ACRESFIELD CAPITAL LLP (REGISTERED NUMBER: OC315278) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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General Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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ACRESFIELD CAPITAL LLP |
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GENERAL INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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DESIGNATED MEMBERS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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14 All Saints Street |
Stamford |
Lincolnshire |
PE9 2PA |
ACRESFIELD CAPITAL LLP (REGISTERED NUMBER: OC315278) |
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STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2019 |
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31.12.19 | 31.12.18 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET ASSETS ATTRIBUTABLE TO MEMBERS | 11,085 | 11,602 |
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LOANS AND OTHER DEBTS DUE TO
MEMBERS |
6 |
11,085 |
11,602 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 6 | 11,085 | 11,602 |
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The members acknowledge their responsibilities for: |
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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. |
ACRESFIELD CAPITAL LLP (REGISTERED NUMBER: OC315278) |
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STATEMENT OF FINANCIAL POSITION - continued |
31 DECEMBER 2019 |
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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. |
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The financial statements were approved and authorised for issue by the members of the LLP and authorised for
issue on |
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ACRESFIELD CAPITAL LLP (REGISTERED NUMBER: OC315278) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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1. | STATUTORY INFORMATION |
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Acresfield Capital LLP is registered in England and Wales. The LLP's registered number and registered office |
address can be found on the General Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Foreign currencies |
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling |
at the statement of financial position date. Transactions in foreign currencies are translated into sterling at |
the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving |
at the operating result. |
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Fixed asset investments represent long term investments and are stated at cost less provision for impairment |
because, in the absence of an active market, the LLP has been unable to obtain an accurate fair value. |
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The LLP has invested in an investment partnership, and receives a share in the profits or losses of the fund in |
proportion to the amount of capital contributed by the investment partners.The value of the investment is |
stated at the LLP's share of partner equity in this fund, as reported in the financial statements of the |
investment partnership, excluding unrealised gains and losses, adjusted for exchange fluctuations. |
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Revenue represents profits on investments held within the investment partnership and foreign exchange |
gains/losses relating to investments. |
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3. | EMPLOYEE INFORMATION |
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The average number of employees during the year was
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4. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 January 2019 |
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Additions |
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Disposals | ( |
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Exchange differences | ( |
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At 31 December 2019 |
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NET BOOK VALUE |
At 31 December 2019 |
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At 31 December 2018 |
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ACRESFIELD CAPITAL LLP (REGISTERED NUMBER: OC315278) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.19 | 31.12.18 |
£ | £ |
Creditors and accruals |
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6. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
31.12.19 | 31.12.18 |
£ | £ |
Amounts owed to members in respect of profits | 11,085 | 11,602 |
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Falling due within one year | 11,085 | 11,602 |
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All loans and other debts due to members are unsecured and do not rank above any other unsecured |
creditor in the event of a winding up. There are no restrictions in place on the ability of members to reduce |
the amount of 'Member other interests'. |
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7. | EVENTS SUBSEQUENT TO THE YEAR END |
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The impact of COVID-19 remains uncertain and continues to develop on a daily basis. The members are |
monitoring the exposure to the LLP's investment business and are referring to government and professional |
advice being published so that action can be considered which may help minimise the impact of this risk. |
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As Acresfield LLP purchases and holds investments, daily operations are unaffected by COVID-19. However, |
the underlying value of investments held may be adversely affected by the ongoing virus. It is not practical to |
quantify the potential financial impact of the outbreak at this stage, but the members are confident that the |
LLP is in a position to manage the situation. |
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8. | GOING CONCERN |
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The LLP holds an investment in an investment fund which is expected to be dissolved on 31 December 2020, |
when the investment comes to the end of its natural term. Following the cessation of this fund, Acresfield |
Capital LLP is also expected to cease as the members no longer require its use for investment purposes. Any |
surplus funds will be returned to the members. |
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Consequently the going concern basis is not appropriate and the financial statements have been prepared on |
a realisation basis which includes, where appropriate, writing down the LLP's assets to estimated net |
realisable value. However, no adjustment to the financial statements is considered necessary. |