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Report of the Members and |
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Unaudited Financial Statements for the Year Ended 30 September 2019 |
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Express Developments Leeds LLP |
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REGISTERED NUMBER:
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Report of the Members and |
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Unaudited Financial Statements for the Year Ended 30 September 2019 |
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Express Developments Leeds LLP |
Express Developments Leeds LLP (Registered number: OC348509) |
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Contents of the Financial Statements |
for the Year Ended 30 September 2019 |
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General Information | 1 |
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Report of the Members | 2 |
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Income Statement | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 6 |
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Express Developments Leeds LLP |
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General Information |
for the Year Ended 30 September 2019 |
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DESIGNATED MEMBERS: |
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Mr I S Watson |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Network House |
West 26 |
Stubs Beck Lane |
Cleckheaton |
West Yorkshire |
BD19 4TT |
Express Developments Leeds LLP (Registered number: OC348509) |
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Report of the Members |
for the Year Ended 30 September 2019 |
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The members present their report with the financial statements of the LLP for the year ended 30 September 2019. |
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PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of the provision of rented property and related |
services at Scatcherd Works, Morley, Leeds. |
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DESIGNATED MEMBERS |
The designated members during the year under review were: |
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Mr P Caulkin (to 1.10.18) |
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Mr I S Watson |
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RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £2,756 (2018 - £1,587 profit). |
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MEMBERS' INTERESTS |
The members agreed to subscribe in the acquisition of the property at Scatcherd Works. The property has been acquired |
by means of a six year interest free loan repayment schedule granted by the property vendors. Rents receivable from the |
letting of the property are used to repay the outstanding loan. The capital balances of the members effectively reflect the |
unencumbered equity acquired to date in the property. |
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ON BEHALF OF THE MEMBERS: |
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Express Developments Leeds LLP (Registered number: OC348509) |
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Income Statement |
for the Year Ended 30 September 2019 |
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2019 | 2018 |
Notes | £ | £ |
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TURNOVER |
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Administrative expenses |
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OPERATING PROFIT | 4 |
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Interest payable and similar expenses |
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PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES |
2,756 |
1,587 |
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PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES |
2,756 |
1,587 |
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Members' remuneration charged as an
expense |
5 |
(2,756 |
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(1,587 |
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PROFIT FOR THE FINANCIAL YEAR
AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
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Express Developments Leeds LLP (Registered number: OC348509) |
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Balance Sheet |
30 September 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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NET ASSETS ATTRIBUTABLE TO
MEMBERS |
93,602 |
90,846 |
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LOANS AND OTHER DEBTS DUE TO
MEMBERS |
11 |
93,602 |
90,846 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 11 | 93,602 | 90,846 |
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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 |
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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. |
Express Developments Leeds LLP (Registered number: OC348509) |
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Balance Sheet - continued |
30 September 2019 |
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The financial statements were approved by the members of the LLP and authorised for issue on
signed by: |
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Express Developments Leeds LLP (Registered number: OC348509) |
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Notes to the Financial Statements |
for the Year Ended 30 September 2019 |
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1. | STATUTORY INFORMATION |
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Express Developments Leeds 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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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the rental income from the property held at Scatcherd Works. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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3. | EMPLOYEE INFORMATION |
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The average number of employees during the year was NIL (2018 - NIL). |
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4. | OPERATING PROFIT |
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The operating profit is stated after charging: |
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2019 | 2018 |
£ | £ |
Depreciation - owned assets |
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5. | INFORMATION IN RELATION TO MEMBERS |
2019 | 2018 |
£ | £ |
Members' remuneration charged as an expense |
Automatic division of profit | 2,756 | 1,587 |
Express Developments Leeds LLP (Registered number: OC348509) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2019 |
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6. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 October 2018 |
and 30 September 2019 |
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DEPRECIATION |
At 1 October 2018 |
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Charge for year |
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At 30 September 2019 |
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NET BOOK VALUE |
At 30 September 2019 |
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At 30 September 2018 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Other creditors |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2019 | 2018 |
£ | £ |
Other creditors |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
£ | £ |
Bank loan | 168,359 | 192,224 |
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The bank loan is secured by a fixed charge over the company's property. The loan is repayable by equal |
instalments over 10 years. |
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11. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
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The loans and other debts due to members (other than members capital classified as debt) would rate behind |
other creditors in the event of an insolvency. |