REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2017 |
FOR |
Agora Develop LLP |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2017 |
FOR |
Agora Develop LLP |
Agora Develop LLP (Registered number: OC355649) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 July 2017 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 7 |
Agora Develop LLP |
GENERAL INFORMATION |
for the year ended 31 July 2017 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
3 Kings Court |
Little King Street |
Bristol |
BS1 4HW |
Agora Develop LLP (Registered number: OC355649) |
BALANCE SHEET |
31 July 2017 |
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
339,515 |
285,600 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
7 |
339,515 |
285,600 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 7 | 339,515 | 285,600 |
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. |
Agora Develop LLP (Registered number: OC355649) |
BALANCE SHEET - continued |
31 July 2017 |
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 |
Agora Develop LLP (Registered number: OC355649) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 July 2017 |
1. | STATUTORY INFORMATION |
Agora Develop LLP is registered in England and Wales. 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 |
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 |
Fixtures and fittings | - |
Investment property |
The investment property is accounted for in accordance with FRSSE as follows: |
1) the investment property is revalued annually. The aggregate surplus or deficit is transferred to the revaluation |
reserve. Where the total of the revaluation reserve is insufficient to cover a deficit, the amount by which the |
deficit exceeds the amount in the investment revaluation reserve is charged in the profit and loss account; and |
2) no depreciation is provided in respect of the investment property. |
Although the Companies Act would normally require the systematic annual depreciation of fixed assets, the |
members believe that the policy is necessary in order for the accounts to give a true and fair view, since the |
current value of investment property, and changes to that current value, are of prime importance rather than a |
calculation of systematic annual depreciation. Depreciation is only one of the many factors reflected in the |
annual valuation, and the amount which might otherwise have been included cannot be separately identified or |
quantified. |
Agora Develop LLP (Registered number: OC355649) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 July 2017 |
3. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 August 2016 |
Additions |
At 31 July 2017 |
DEPRECIATION |
At 1 August 2016 |
Charge for year |
At 31 July 2017 |
NET BOOK VALUE |
At 31 July 2017 |
At 31 July 2016 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 August 2016 |
Additions |
At 31 July 2017 |
NET BOOK VALUE |
At 31 July 2017 |
At 31 July 2016 |
The investment property was valued on an open market basis on 31 July 2014 by the members of the LLP. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Other creditors |
Agora Develop LLP (Registered number: OC355649) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 July 2017 |
7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2017 | 2016 |
£ | £ |
Amounts owed to members in respect of profits | 339,515 | 285,600 |
Falling due within one year | 339,515 | 285,600 |
8. | RELATED PARTY DISCLOSURES |
At the balance sheet date, the LLP owed Willmore Iles Architects Limited, a company which the members are |
also directors £nil (2016 - £392). During the year the company received £42,000 (2016 - £28,320) rent and there |
were £nil (2016 - £392) purchases from Willmore Iles Architects Limited. |
These transactions were deemed to be at arms length. |
9. | ULTIMATE CONTROLLING PARTY |
In the opinion of the members there is no overall controlling party. |
CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
AGORA DEVELOP LLP |
The following reproduces the text of the report prepared for the members in respect of the LLP's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a |
Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the |
Report of the Members are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability |
Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your |
approval the financial statements of Agora Develop LLP for the year ended 31 July 2017 which comprise the Income |
Statement, Balance Sheet and the related notes from the LLP's accounting records and from information and |
explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the members of Agora Develop LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Agora Develop LLP and state those matters that we have agreed to state to the members of Agora Develop LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Agora Develop LLP members, as a body, for our work or for this report. |
It is your duty to ensure that Agora Develop LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Agora Develop LLP. You consider that Agora Develop LLP is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Agora Develop LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
3 Kings Court |
Little King Street |
Bristol |
BS1 4HW |