Fresh Thinking Partners Two Llp

REGISTERED NUMBER: OC386815 (England and Wales)

FRESH THINKING PARTNERS TWO LLP

REPORT OF THE MEMBERS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2018

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

Ms M A Hird

A J Walls

REGISTERED OFFICE:

Century Offices

2175 Century Way

Thorpe Park

Leeds

West Yorkshire

LS15 8ZB

REGISTERED NUMBER:

OC386815 (England and Wales)

ACCOUNTANTS:

Duncan Chartered Accountants

5 Cherrytree

Union Road

Sheffield

South Yorkshire

S11 9EF

The members present their report with the financial statements of the LLP for the year ended 31 July 2018.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of investment consultancy.

DESIGNATED MEMBERS

The designated members during the year under review were:

Ms M A Hird

A J Walls

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £4,210 (2017 - £958,797 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

Ms M A Hird - Designated member

12 March 2019

TURNOVER

17,462

50,000

Administrative expenses

13,252

39,008

4,210

10,992

Other operating income

-

947,805

OPERATING PROFIT and

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

4,210

958,797

FIXED ASSETS

Tangible assets

4

2,779

2,317

CURRENT ASSETS

Debtors

5

440,000

Cash at bank

410

50,100

440,410

490,100

CREDITORS

Amounts falling due within one year

6

5,087

17,325

NET CURRENT ASSETS

435,323

472,775

TOTAL ASSETS LESS CURRENT
LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO
MEMBERS

438,102

475,092

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

438,102

475,092

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

438,102

475,092

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 2018.

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 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.

The financial statements were approved by the members of the LLP on 12 March 2019 and were signed by:

Ms M A Hird - Designated member

A J Walls - Designated member

1.	STATUTORY INFORMATION

Fresh Thinking Partners Two 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 etc

-

25% on cost

3.	OPERATING PROFIT

The operating profit is stated after charging:

31.7.18

31.7.17

£

Depreciation - owned assets

926

772

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2017

3,089

Additions

1,388

At 31 July 2018

4,477

DEPRECIATION

At 1 August 2017

772

Charge for year

926

At 31 July 2018

1,698

NET BOOK VALUE

At 31 July 2018

2,779

At 31 July 2017

2,317

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.18

31.7.17

£

Other debtors

440,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.18

31.7.17

£

Trade creditors

-

8,794

Other creditors

5,087

8,531

5,087

17,325

7.

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.

Fresh Thinking Partners Two Llp - LLP accounts 18.2

Fresh Thinking Partners Two Llp - LLP accounts 18.2