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REPORT OF THE MEMBERS AND |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2018 |
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MARSHAM CHAMBERS RESIDENTIAL LLP |
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REGISTERED NUMBER:
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REPORT OF THE MEMBERS AND |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2018 |
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FOR |
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MARSHAM CHAMBERS RESIDENTIAL LLP |
MARSHAM CHAMBERS RESIDENTIAL LLP (REGISTERED NUMBER: OC402831) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
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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 | 5 |
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MARSHAM CHAMBERS RESIDENTIAL LLP |
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GENERAL INFORMATION |
FOR THE YEAR ENDED 31 MARCH 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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Chartered Accountants |
Sterling House |
20 Station Road |
Gerrards Cross |
Buckinghamshire |
SL9 8EL |
MARSHAM CHAMBERS RESIDENTIAL LLP (REGISTERED NUMBER: OC402831) |
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REPORT OF THE MEMBERS |
FOR THE YEAR ENDED 31 MARCH 2018 |
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The members present their report with the financial statements of the LLP for the year ended 31 March 2018. |
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PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of property investment and management. |
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DESIGNATED MEMBERS |
The designated members during the year under review were: |
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RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The loss for the year before members' remuneration and profit shares was £10,258 (2017 - £16,788 loss). |
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MEMBERS' INTERESTS |
The members' drawings policy allows each member to draw a proportion of their profit share, subject to the cash |
requirements of the business. |
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A members capital requirement is set at admission to the limited liability partnership. Capital profits and losses are |
borne solely by the D C Gregory Discretionary Will Trust. |
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STATEMENT OF MEMBERS' RESPONSIBILITIES |
The members are responsible for preparing the Report of the Members and the financial statements in accordance with |
applicable law and regulations. |
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Legislation applicable to limited liability partnerships requires the members to prepare financial statements for each |
financial year. Under that law the members have elected to prepare the financial statements in accordance with United |
Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), |
including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of |
Ireland'. Under legislation applicable to limited liability partnerships the members must not approve the financial |
statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit |
or loss of the LLP for that period. In preparing these financial statements, the members are required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
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The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's |
transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to |
ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability |
Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible |
for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud |
and other irregularities. |
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ON BEHALF OF THE MEMBERS: |
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MARSHAM CHAMBERS RESIDENTIAL LLP (REGISTERED NUMBER: OC402831) |
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INCOME STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2018 |
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2018 | 2017 |
Notes | £ | £ |
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TURNOVER |
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Administrative expenses | ( |
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OPERATING PROFIT |
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Interest receivable and similar income |
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26,863 | 19,758 |
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Interest payable and similar expenses | ( |
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LOSS FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
( |
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( |
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MARSHAM CHAMBERS RESIDENTIAL LLP (REGISTERED NUMBER: OC402831) |
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BALANCE SHEET |
31 MARCH 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
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CURRENT ASSETS |
Debtors |
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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 |
200 |
878 |
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LOANS AND OTHER DEBTS DUE TO
MEMBERS |
6 |
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678 |
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MEMBERS' OTHER INTERESTS |
Capital accounts | 200 | 200 |
200 | 878 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 6 | - | 678 |
Members' other interests | 200 | 200 |
Amounts due from members | (44,866 | ) | (27,646 | ) |
(44,666 | ) | (26,768 | ) |
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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. |
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The financial statements were approved by the members of the LLP on
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MARSHAM CHAMBERS RESIDENTIAL LLP (REGISTERED NUMBER: OC402831) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
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1. | STATUTORY INFORMATION |
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Marsham Chambers Residential 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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Turnover |
Turnover represents rents receivable. |
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Investment property |
Investment property is valued at fair value. |
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Gains are recognised in the Income Statement. Deferred taxation is provided on these gains at the rate expected |
to apply when the property is sold. |
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3. | EMPLOYEE INFORMATION |
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The average number of employees during the year was NIL (2017 - NIL). |
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4. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 April 2017 |
and 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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The members have agreed that there have been no changes to the fair value of the investment property during |
the year. |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Amounts owed to participating interests | 996 | - |
Other creditors |
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6. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
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Sums owed to members do not rank in priority to third party debts. |