REGISTERED NUMBER: OC337766 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 JUNE 2017

FOR

A & C RESTORATION LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

C Sawyer

A M Riches

REGISTERED OFFICE:

21 Horsefair Green

Stony Stratford

Milton Keynes

Buckinghamshire

MK11 1JW

REGISTERED NUMBER:

OC337766 (England and Wales)

ACCOUNTANTS:

Rawlinson Pryde Limited

Chartered Accountants

Argent House

5 Goldington Road

Bedford

Bedfordshire

MK40 3JY

BANKERS:

HSBC plc

209/211 Bedford Road

Kempston

Bedford

MK42 8DD

FIXED ASSETS

Tangible assets

4

14,658

22,066

CURRENT ASSETS

Debtors

5

194,367

129,957

Cash at bank

3,719

5,454

198,086

135,411

CREDITORS

Amounts falling due within one year

6

163,894

112,273

NET CURRENT ASSETS

34,192

23,138

TOTAL ASSETS LESS CURRENT LIABILITIES

48,850

45,204

CREDITORS

Amounts falling due after more than one year

7

48,650

45,004

NET ASSETS ATTRIBUTABLE TO MEMBERS

200

200

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

200

200

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

200

200

Amounts due from members

5

(190,380

)

(126,524

)

(190,180

)

(126,324

)

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 29 June 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 16 March 2018 and were signed by:

C Sawyer - Designated member

1.	STATUTORY INFORMATION

A & C Restoration 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.

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.

Plant and machinery

-

10% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangement,

as either financial assets, financial liabilities or equity. An equity instrument is any contract that evidences

residual interest in the assets of the company after deduction any liabilities.

Basic financial instruments are initially recognize at the transaction price unless the arrangement constitutes a

financing transaction. Transaction price should also include transaction costs; transactions costs are those costs

that are directly attributable to the acquisition of the debt instrument. The exception to this accounting is where

the debt instrument is measured at fair value through profit or loss. In such cases transaction costs are not

included in the initial measurement of the financial instrument.

If an arrangement constitutes a financing transaction it is measured at the present value of the future payments

discounted at a market rate of interest for a similar debt instrument. The present value of a financial asset or

financial liability that is repayable on demand is equal to the undiscounted cash amount expected to be paid or

received.

On subsequent measurement basic financial instruments are recognised at amortized cost. Amortized cost is

calculated at the undiscounted amount expected to be paid or received for basic financial instruments payable or

receivable within one year.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance

sheet date. If such indication exists the recoverable amount of the asset, or the asset's cash generating unit, is

estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount an

impairment loss is recognised in the profit and loss unless the asset is carried at a revalued amount where the

impairment loss is a revaluation decrease.

Going concern

After reviewing the LLP's forecasts and projections, the members have a reasonable expectation that the LLP has

adequate resources to continue in operational existence for the foreseeable future. The LLP therefore continues

to adopt the going concern basis in preparing its financial statements.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 7 .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 30 June 2016

1,265

34,952

1,106

37,323

Additions

614

-

854

1,468

At 29 June 2017

1,879

34,952

1,960

38,791

DEPRECIATION

At 30 June 2016

316

13,835

1,106

15,257

Charge for year

138

8,738

-

8,876

At 29 June 2017

454

22,573

1,106

24,133

NET BOOK VALUE

At 29 June 2017

1,425

12,379

854

14,658

At 29 June 2016

949

21,117

-

22,066

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.6.17

29.6.16

£

£

Trade debtors

2,302

2,408

Amounts due from members

190,380

126,524

Prepayments

1,685

1,025

194,367

129,957

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29.6.17

29.6.16

£

£

Bank loans and overdrafts

24,210

2,013

Loans

46,667

11,250

Hire purchase contracts

6,321

6,321

Trade creditors

10,596

26,742

Social security and other taxes

3,109

2,971

VAT

24,317

24,799

Other creditors

44,964

34,110

Accrued expenses

3,710

4,067

163,894

112,273

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

29.6.17

29.6.16

£

£

Loans

16,667

11,250

Other loans - 2-5 years

17,675

13,125

Hire purchase contracts

14,308

20,629

48,650

45,004

8.	SECURED DEBTS

The following secured debts are included within creditors:

29.6.17

29.6.16

£

£

Loans

51,009

35,625

The loans are secured by way of a personal guarantee and indemnity from Mr Christopher Sawyer.

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'.