REGISTERED NUMBER: OC415425 (England and Wales)

Report of the Members and

Unaudited Financial Statements for the Year Ended 31 March 2019

for

ACQUITAS LLP

Page

General Information

1

Report of the Members

2

Chartered Accountants' Report

3

Income Statement

4

Balance Sheet

5

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

REALM London Ltd

Dr S Verma

A V Mani

REGISTERED OFFICE:

Yoden House

30 Yoden Way

Peterlee

Co. Durham

SR8 1AL

REGISTERED NUMBER:

OC415425 (England and Wales)

ACCOUNTANTS:

Christopher Bailey

Yoden House

30 Yoden Way

Peterlee

Co. Durham

SR8 1AL

The members present their report with the financial statements of the LLP for the year ended 31 March 2019.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of renting property.

DESIGNATED MEMBERS

The designated members during the year under review were:

REALM London Ltd

Dr S Verma

A V Mani

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The loss for the year before members' remuneration and profit shares was £75,447 (2018 - £17,347 loss).

MEMBERS' INTERESTS

Members are remunerated from the profits of the LLP and are required to make their own provision for pensions and

other benefits. Profits are allocated and divided between members after finalisation of the financial statements. Members

draw a proportion of their profit shares during the year in which it is made, with the balance of profits being distributed

after the year end, subject to the cash requirements of the business. Capital is repaid to members on resignation or

retirement. Only those members who have contribute capital to the LLP are allocated losses, if the LLP declares a loss in

a period.

ON BEHALF OF THE MEMBERS:

A V Mani - Designated member

25 February 2020

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 ACQUITAS LLP for the year ended 31 March 2019 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 ACQUITAS 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 ACQUITAS LLP and state those matters that we have agreed to state to the members of ACQUITAS 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 ACQUITAS LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that ACQUITAS 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 loss of ACQUITAS LLP. You consider that ACQUITAS 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 ACQUITAS 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.

Christopher Bailey

Yoden House

30 Yoden Way

Peterlee

Co. Durham

SR8 1AL

Date: .............................................

TURNOVER

187,948

226,279

Administrative expenses

(69,215

)

(175,904

)

118,733

50,375

Other operating income

(130,000

)

-

OPERATING (LOSS)/PROFIT

(11,267

)

50,375

Interest receivable and similar income

13

23

(11,254

)

50,398

Interest payable and similar expenses

(64,193

)

(67,745

)

LOSS FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

(75,447

)

(17,347

)

FIXED ASSETS

Tangible assets

4

5,170,000

5,300,000

CURRENT ASSETS

Cash at bank

20,344

-

CREDITORS

Amounts falling due within one year

5

(10,424

)

(10,380

)

NET CURRENT ASSETS/(LIABILITIES)

9,920

(10,380

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,179,920

5,289,620

CREDITORS

Amounts falling due after more than one year

6

(2,779,342

)

(2,788,225

)

NET ASSETS ATTRIBUTABLE TO MEMBERS

2,400,578

2,501,395

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

2,400,578

2,501,395

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

2,400,578

2,501,395

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 2019.

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 in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP on 25 February 2020 and were signed by:

A V Mani - Designated member

1.	STATUTORY INFORMATION

ACQUITAS 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

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.

Land and buildings

-

not provided

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2018 - NIL).

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

At 1 April 2018

5,300,000

Revaluations

(130,000

)

At 31 March 2019

5,170,000

NET BOOK VALUE

At 31 March 2019

5,170,000

At 31 March 2018

5,300,000

Cost or valuation at 31 March 2019 is represented by:

Land and

buildings

£

Valuation in 2019

(130,000

)

Cost

5,300,000

5,170,000

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

10,424

10,380

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Other creditors

2,779,342

2,788,225

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.19

31.3.18

£

£

Mortgages

2,779,342

2,788,225

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Members rank ahead of other creditors in a liquidation.