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REGISTERED NUMBER: SO304234 (Scotland)















Unaudited Financial Statements for the Year Ended 5 April 2018

for

Inverclyde Property Renovation LLP

Inverclyde Property Renovation LLP (Registered number: SO304234)






Contents of the Financial Statements
for the Year Ended 5 April 2018




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Inverclyde Property Renovation LLP

General Information
for the Year Ended 5 April 2018







DESIGNATED MEMBERS: E Dunne
P Griffiths
V Gray
Sir S G Redgrave
J J Fields
Inverclyde Renovation Limited





REGISTERED OFFICE: 4/2 Allanshaw Gardens
Hamilton
Lanarkshire
ML3 8NU





REGISTERED NUMBER: SO304234 (Scotland)





ACCOUNTANTS: Valhalla Private Client Services LLP
Valhalla House
30 Ashby Road
Tove Valley Business Park
Towcester
Northamptonshire
NN12 6PG

Inverclyde Property Renovation LLP (Registered number: SO304234)

Balance Sheet
5 April 2018

5.4.18 5.4.17
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 3,150,250 3,150,250

CURRENT ASSETS
Debtors 4 1,255 4,850
Cash at bank 22,938 22,451
24,193 27,301
CREDITORS
Amounts falling due within one year 5 14,573 19,293
NET CURRENT ASSETS 9,620 8,008
TOTAL ASSETS LESS CURRENT LIABILITIES 3,159,870 3,158,258

CREDITORS
Amounts falling due after more than one year 6 1,968,906 1,968,906
NET ASSETS ATTRIBUTABLE TO MEMBERS 1,190,964 1,189,352

LOANS AND OTHER DEBTS DUE TO MEMBERS 7 1,172,739 1,171,127

MEMBERS' OTHER INTERESTS
Capital accounts 18,225 18,225
1,190,964 1,189,352

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 1,172,739 1,171,127
Members' other interests 18,225 18,225
1,190,964 1,189,352

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 5 April 2018.

The members acknowledge their responsibilities for:
(a)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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 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 small LLPs.

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.

The financial statements were approved by the members of the LLP on 5 December 2018 and were signed by:




J J Fields - Designated member

Inverclyde Property Renovation LLP (Registered number: SO304234)

Notes to the Financial Statements
for the Year Ended 5 April 2018

1. STATUTORY INFORMATION

Inverclyde Property Renovation LLP is registered in Scotland. The LLP's registered number and registered office address can be found on
the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other
sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 6 April 2017
and 5 April 2018 3,150,250
NET BOOK VALUE
At 5 April 2018 3,150,250
At 5 April 2017 3,150,250

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.4.18 5.4.17
£    £   
Other debtors 1,255 4,850

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.4.18 5.4.17
£    £   
Taxation and social security 2,999 2,870
Other creditors 11,574 16,423
14,573 19,293

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
5.4.18 5.4.17
£    £   
Other creditors 1,968,906 1,968,906

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

This is a small LLP and we wish to take options and exemptions from disclosure requirements.

Inverclyde Property Renovation LLP (Registered number: SO304234)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2018

8. CHARGES REGISTERED

There are two charges registered for the company.

Firstly, an assignation of rents in favour of Inverclyde Council for which obligations under the facility agreement are secured; in particular
rent and all monies receivable by the chargee as landlord under a lease by way of rent.

Secondly, a floating charge in favour of Inverclyde Council for which obligations under the facility agreement are secured by way of
undertaking and all property and assets present and future, including uncalled capital. There are restricting provisions under this floating
charge in that companies are expressly prohibited from creating fixed securities having priority over or ranking equally with the floating
charge.