REGISTERED NUMBER: OC305146 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2017

for

Abbey Forestry LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Designated members:

A J Shirley-Priest

B T Anderson

Registered office:

Auction House

King George's Way

Pershore

Worcestershire

WR10 1EY

Registered number:

OC305146 (England and Wales)

Accountants:

Crowthers Chartered Accountants

19 High Street

Pershore

Worcestershire

WR10 1AA

FIXED ASSETS

Intangible assets

4

12,747

13,091

Tangible assets

5

38,378

47,938

51,125

61,029

CURRENT ASSETS

Stocks

56,084

57,610

Debtors

6

132,655

160,320

Cash at bank and in hand

11,655

12,971

200,394

230,901

CREDITORS

Amounts falling due within one year

7

171,128

219,732

NET CURRENT ASSETS

29,266

11,169

TOTAL ASSETS LESS CURRENT LIABILITIES

80,391

72,198

CREDITORS

Amounts falling due after more than one year

8

22,742

39,277

NET ASSETS ATTRIBUTABLE TO MEMBERS

57,649

32,921

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

25,649

3,088

MEMBERS' OTHER INTERESTS

Capital accounts

32,000

29,833

57,649

32,921

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

25,649

3,088

Members' other interests

32,000

29,833

57,649

32,921

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 31 July 2017.

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 24 October 2017 and were signed by:

A J Shirley-Priest - Designated member

B T Anderson - Designated member

1.	STATUTORY INFORMATION

Abbey Forestry LLP is registered in England and Wales. The LLP's registered number and registered office

address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents the fair value of services provided under contracts with customers to the extent that there is

a right to consideration. It is measured at the fair value of the consideration due. Where a service is incomplete

at the year end, turnover represents the value of the service provided to that date based on an appropriate

proportion of the total expected consideration at completion.

Invoices are not raised until a contract is complete so the value of incomplete services is included as Amounts

recoverable on contracts in the balance sheet

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme

are charged to profit or loss in the period to which they relate.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 6 .

4.	INTANGIBLE FIXED ASSETS

Computer

Goodwill

software

Totals

£

£

£

Cost

At 1 August 2016

and 31 July 2017

10,000

3,435

13,435

Amortisation

At 1 August 2016

-

344

344

Amortisation for year

-

344

344

At 31 July 2017

-

688

688

Net book value

At 31 July 2017

10,000

2,747

12,747

At 31 July 2016

10,000

3,091

13,091

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Forestry

machinery

fittings

vehicles

Equipment

Totals

£

£

£

£

£

Cost

At 1 August 2016

2,100

19,965

69,042

-

91,107

Additions

-

1,030

-

2,357

3,387

At 31 July 2017

2,100

20,995

69,042

2,357

94,494

Depreciation

At 1 August 2016

1,798

17,389

23,982

-

43,169

Charge for year

75

1,018

11,265

589

12,947

At 31 July 2017

1,873

18,407

35,247

589

56,116

Net book value

At 31 July 2017

227

2,588

33,795

1,768

38,378

At 31 July 2016

302

2,576

45,060

-

47,938

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

131,514

159,021

Other debtors

1,141

1,299

132,655

160,320

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

25,435

4,833

Hire purchase contracts

12,141

13,427

Trade creditors

36,910

59,771

Taxation and social security

22,632

26,994

Other creditors

74,010

114,707

171,128

219,732

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

4,674

9,666

Hire purchase contracts

18,068

29,611

22,742

39,277

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

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 or limitations on the ability of the members to reduce the amount of ‘Members’ other

interests'.