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Financial Statements for the Period 23 June 2016 to 30 June 2017 |
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Linden Bloodstock Llp |
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REGISTERED NUMBER:
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Financial Statements for the Period 23 June 2016 to 30 June 2017 |
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for |
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Linden Bloodstock Llp |
Linden Bloodstock Llp (Registered number: OC412473) |
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Contents of the Financial Statements |
for the Period 23 June 2016 to 30 June 2017 |
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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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Linden Bloodstock Llp |
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General Information |
for the Period 23 June 2016 to 30 June 2017 |
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DESIGNATED MEMBERS: |
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H Dykes |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Archway House |
81-82 Portsmouth Road |
Surbiton |
Surrey |
KT6 5PT |
Linden Bloodstock Llp (Registered number: OC412473) |
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Balance Sheet |
30 June 2017 |
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Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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NET ASSETS ATTRIBUTABLE TO
MEMBERS |
78,757 |
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LOANS AND OTHER DEBTS DUE TO
MEMBERS |
78,757 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 78,757 |
Amounts due from members | 5 | (371 | ) |
78,386 |
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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. |
Linden Bloodstock Llp (Registered number: OC412473) |
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Balance Sheet - continued |
30 June 2017 |
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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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Linden Bloodstock Llp (Registered number: OC412473) |
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Notes to the Financial Statements |
for the Period 23 June 2016 to 30 June 2017 |
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1. | STATUTORY INFORMATION |
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Linden Bloodstock 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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Biological assets |
Stallions and broodmares are classified as biological assets. |
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Stallions and broodmares are carried at their revalued amounts, being the fair value at the date of valuation. |
Revaluations are performed by the partners with sufficient regularity to ensure that the carrying amounts do not |
differ materially from those that would be determined using fair values at the end of each reporting period. |
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Any movement in the value of the horse will be recognised through the statement of comprehensive income. |
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Stocks |
Stocks consist of horses held for sale. All stocks are stated at the lower of cost and estimated selling price less |
costs to complete and sell. |
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Foals born are valued at their deemed cost of production being their nomination fee plus the costs to keep the |
broodmare for the first year prior to birth. Foals are deemed to be harvested from biological assets at the date of |
birth and transfer into inventory at this date at their deemed cost. Uplifts in the in the value of stock in relation to |
foals born are recognised in the statement of comprehensive income through profit on bloodstock. |
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At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over |
its estimated selling price less costs to complete and sell is recognised as an impairment loss in the income |
statement. Reversals of impairment losses are also recognised in the statement of other comprehensive income. |
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3. | EMPLOYEE INFORMATION |
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The average number of employees during the period was NIL. |
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4. | TANGIBLE FIXED ASSETS |
Broodmar- |
Stallions | es | Totals |
£ | £ | £ |
COST OR VALUATION |
At 23 June 2016 |
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Revaluations |
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At 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 22 June 2016 |
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Linden Bloodstock Llp (Registered number: OC412473) |
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Notes to the Financial Statements - continued |
for the Period 23 June 2016 to 30 June 2017 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Cost or valuation at 30 June 2017 is represented by: |
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Broodmar- |
Stallions | es | Totals |
£ | £ | £ |
Valuation in 2017 | 12,500 | 10,000 | 22,500 |
Cost | 17,500 | 8,000 | 25,500 |
30,000 | 18,000 | 48,000 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Amounts due from members | 371 |
VAT |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Bank loans and overdrafts |
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Trade creditors |
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Accrued expenses |
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