REGISTERED NUMBER: OC324518 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

ABERSOCH LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Reflect Developments Limited

Mrs C Twiston-Davies

REGISTERED OFFICE:

2 Back Grafton Street

Altrincham

Cheshire

WA14 1DY

REGISTERED NUMBER:

OC324518 (England and Wales)

ACCOUNTANTS:

Wallwork Nelson & Johnson

Chandler House

7 Ferry Road Office Park

Riversway

Preston

Lancashire

PR2 2YH

FIXED ASSETS

Tangible assets

3

471

3,488

Investment property

4

1,021,923

1,005,503

1,022,394

1,008,991

CURRENT ASSETS

Debtors

5

152,983

127,350

Cash at bank

1,071

2,654

154,054

130,004

CREDITORS

Amounts falling due within one year

6

112,769

99,001

NET CURRENT ASSETS

41,285

31,003

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,063,679

1,039,994

LOANS AND OTHER DEBTS DUE TO MEMBERS

-

-

MEMBERS' OTHER INTERESTS

Capital accounts

1,068,406

1,044,721

Fair value reserve

7

(4,727

)

(4,727

)

1,063,679

1,039,994

TOTAL MEMBERS' INTERESTS

Members' other interests

1,063,679

1,039,994

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 March 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 21 December 2017 and were signed by:

Reflect Developments Limited - Designated member

1.	STATUTORY INFORMATION

Abersoch 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

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 as modified by the revaluation of certain assets.

Changes in accounting policies

The financial statements for the year ended 31 March 2017 are the first financial statements that comply with

FRS 102 Section 1A small entities. The date of transition is 1 April 2015.

The transition to FRS 102 Section 1A small entities has resulted in a small number of changes in accounting

policies to those used previously.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment in value.

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

life.

Fixtures and fittings - 33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Going concern

The members have a reasonable expectation that the limited liability partnership has adequate resources to

continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis

of accounting in preparing the annual financial statements.

3.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2016

and 31 March 2017

22,598

DEPRECIATION

At 1 April 2016

19,110

Charge for year

3,017

At 31 March 2017

22,127

NET BOOK VALUE

At 31 March 2017

471

At 31 March 2016

3,488

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2016

1,005,503

Additions

16,420

At 31 March 2017

1,021,923

NET BOOK VALUE

At 31 March 2017

1,021,923

At 31 March 2016

1,005,503

A valuation of the Investment property has been undertaken by the Members as at 31 March 2017 and is based

on the market value of similar properties at this date.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/17

31/3/16

£

£

Members current account

148,700

127,021

VAT

-

329

Prepayments and accrued income

4,283

-

152,983

127,350

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/17

31/3/16

£

£

Trade creditors

4,961

4,140

Other creditors

105,826

75,183

Creditors and accruals

1,982

19,678

112,769

99,001

7.

RESERVES

Fair

value

reserve

£

At 1 April 2016

(4,727

)

At 31 March 2017

(4,727

)

8.	RELATED PARTY DISCLOSURES

The LLP's Designated Members are Reflect Developments Limited and Mrs C Twiston-Davies. Capital has been

introduced by the Members and as at 31 March 2017 the following amounts were outstanding:

2017

2016

Reflect Developments Limited

591,248

591,248

Mrs C Twiston-Davies

477,158

453,473

No interest has been charged