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Unaudited Financial Statements |
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for the Year Ended 31st October 2018 |
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Crest Location Investments LLP |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31st October 2018 |
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for |
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Crest Location Investments LLP |
Crest Location Investments LLP (Registered number: OC349589) |
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Contents of the Financial Statements |
for the year ended 31st October 2018 |
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Page |
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General Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Crest Location Investments LLP |
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General Information |
for the year ended 31st October 2018 |
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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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Accountants and Tax Advisers |
2nd Floor |
Katherine House |
11 Wyllyotts Place |
Potters Bar |
Hertfordshire |
EN6 2JD |
Crest Location Investments LLP (Registered number: OC349589) |
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Balance Sheet |
31st October 2018 |
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31.10.18 | 31.10.17 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
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Debtors | 3 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 4 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
5 |
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NET ASSETS ATTRIBUTABLE TO
MEMBERS |
44,563 |
78,717 |
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LOANS AND OTHER DEBTS DUE TO
MEMBERS |
6 |
34,563 |
68,717 |
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MEMBERS' OTHER INTERESTS |
Capital accounts | 10,000 | 10,000 |
44,563 | 78,717 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 6 | 34,563 | 68,717 |
Members' other interests | 10,000 | 10,000 |
44,563 | 78,717 |
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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. |
Crest Location Investments LLP (Registered number: OC349589) |
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Balance Sheet - continued |
31st October 2018 |
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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 by the members of the LLP on
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Crest Location Investments LLP (Registered number: OC349589) |
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Notes to the Financial Statements |
for the year ended 31st October 2018 |
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1. | STATUTORY INFORMATION |
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Crest Location Investments 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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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Financial instruments |
Financial assets and financial liabilities are recognised in the company's balance sheet when the company |
becomes a party to the contractual provisions of instrument. |
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Basic financial assets |
Basic financial assets, which include trade and other receivables, cash and bank balances are initially measured |
at transaction price including transaction cost and are subsequently carried at amortised cost using the effective |
interest method. |
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Impairment |
Assets not measured at fair value are reviewed for any indications that the asset may be impaired at each balance |
sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is |
estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an |
impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the |
impairment loss is a revaluation decrease. |
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If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, |
the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the |
currying amount would have been, had the impairment not previously been recognised.The impairment reversal |
is recognised in profit or loss. |
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Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual |
arrangements entered into. An equity instrument is any contract that evidences residual interest in the assets of |
the company after deducting all of its liabilities. |
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Basic financial liabilities, including trade and other payables and bank loans, are initially recognised at |
transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is |
measured at the present value of the future payments discounted at the market rate of interest. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of |
business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or |
less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction |
price and subsequently measured at amortised cost using the effective interest method. |
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3. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.18 | 31.10.17 |
£ | £ |
Other debtors |
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Crest Location Investments LLP (Registered number: OC349589) |
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Notes to the Financial Statements - continued |
for the year ended 31st October 2018 |
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.18 | 31.10.17 |
£ | £ |
Amounts owed to participating interests | 33,360 | 38,698 |
Other creditors |
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5. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.10.18 | 31.10.17 |
£ | £ |
Amounts owed to participating interests | 735,025 | 769,120 |
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6. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
31.10.18 | 31.10.17 |
£ | £ |
Amounts owed to members in respect of profits | 34,563 | 68,717 |
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Falling due within one year | 34,563 | 68,717 |
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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 on limitations on the ability of the members to reduce the amount of 'Members' other |
interests. |
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7. | RELATED PARTY DISCLOSURES |
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Included in amounts owed to participating interests is a loan from Everguard Limited, a corporate member of the |
partnership. |
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The balance on that loan as at balance sheet date stood at £768,385. Interest at the rate of 4,4% per annum is |
charged on this loan which is repayable by instalments over a period of not more than 25 years. |
The designated member, Mr A. Zacharia is a director and shareholder of Everguard Limited. |
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Included in other debtors (note 4) is an amount of £13,497 (2017 £13,497) owed to the Crest Location |
Investments LLP by KRZ Evolutions Limited, company of which the designated member Mr A Zacharia is a |
director and shareholder. Interest at 6,5% was charged in the year in respect of this loan. |