Kingsfleet Independent Financial Planning LLP
Kingsfleet Independent Financial Planning LLP
Registered number: OC383964
Member's Report and
Unaudited Financial Statements
For The Year Ended 31 March 2019
Foreshore Accountancy LLP
Chartered Accountants
Fairfield Shotley Road
Chelmondiston
Ipswich
Suffolk
IP9 1EE
Kingsfleet Independent Financial Planning LLP
Member's Report and Unaudited Financial Statements
For The Year Ended 31 March 2019
Member's Report and Unaudited Financial Statements
Contents | |
Page | |
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LLP Information | 1 |
Member's Report | 2 |
Accountants' Report | 3 |
Dormant Profit and Loss Account Statement | 4 |
Balance Sheet | 5 |
Notes to the Financial Statements | 7 |
Kingsfleet Independent Financial Planning LLP
LLP Information
For The Year Ended 31 March 2019
LLP Information
LLP Registration Number |
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Registered Office | Claydon Court |
Old Ipswich Road | |
Claydon | |
Suffolk | |
IP6 0AE | |
Accountants |
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Chartered Accountants | |
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Chelmondiston | |
Ipswich | |
Suffolk | |
IP9 1EE | |
Page 1
Kingsfleet Independent Financial Planning LLP
Member's Report
For The Year Ended 31 March 2019
Member's Report
The members present their report and the financial statements for the year ended 31 March 2019 .
Statement of Member's Responsibilities
The members are responsible for preparing the financial statements in accordance with applicable law and regulations.Company law as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law as applied to Limited Liability Partnerships the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss for that period. In preparing the financial statements the members are required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business.
The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the financial statements comply with the Companies Act 2006 as modified by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Principal Activity
The LLP is dormant within the fiscal year.
Members
The designated members who held office during the year were as follows:
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Signed on behalf of the members by
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Kingsfleet Independent Financial Planning LLP
Accountants' Report
For The Year Ended 31 March 2019
Accountants' Report
Chartered Accountants' report to the partners on the preparation of the unaudited statutory accounts of Kingsfleet Independent Financial Planning LLP For The Year Ended 31 March 2019
In order to assist you to fulfil your duties under the Companies Act 2006 as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the accounts of Kingsfleet Independent Financial Planning LLP For The Year Ended 31 March 2019 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records and from information and explanations you have given to 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 at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the partners of Kingsfleet Independent Financial Planning LLP, as a body, in accordance with the terms of our engagement letter . Our work has been undertaken solely to prepare for your approval the accounts of Kingsfleet Independent Financial Planning LLP and state those matters that we have agreed to state to the partners of Kingsfleet Independent Financial Planning LLP, as a body, in this report in accordance with AAF 2/10 as detailed at ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kingsfleet Independent Financial Planning LLP and its partners, as a body, for our work or for this report.
It is your duty to ensure that Kingsfleet Independent Financial Planning LLP has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Kingsfleet Independent Financial Planning LLP. You consider that Kingsfleet Independent Financial Planning LLP is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Kingsfleet Independent Financial Planning 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 financial statements.
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Chartered Accountants
Fairfield Shotley Road
Chelmondiston
Ipswich
Suffolk
IP9 1EE
Page 3
Kingsfleet Independent Financial Planning LLP
Dormant Profit and Loss Account Statement
For The Year Ended 31 March 2019
Dormant Profit and Loss Account Statement
The LLP has not traded during the year or the preceding financial year. During these years, the LLP received no income and incurred no expenditure and therefore made neither profit nor loss.
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Kingsfleet Independent Financial Planning LLP
Balance Sheet
As at
31 March 2019
Balance Sheet
2019 | 2018 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
CURRENT ASSETS | |||||
Cash at bank and in hand |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET ASSETS ATTRIBUTABLE TO MEMBERS |
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REPRESENTED BY: | |||||
Loans and other debts due to members within one year | 38 | 38 | |||
Equity | |||||
Members' other interests | |||||
Other reserves | (28) | (28) | |||
(28) | (28) | ||||
10 | 10 | ||||
TOTAL MEMBERS' INTEREST | |||||
Loans and other debts due to members within one year | 38 | 38 | |||
Members' other interests | (28) | (28) | |||
10 | 10 | ||||
Member's responsibilities:
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The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts. -
These accounts have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
On behalf of the members
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Kingsfleet Independent Financial Planning LLP
Balance Sheet (continued)
As at
31 March 2019
The notes on page 7 form part of these financial statements.
Page 6
Kingsfleet Independent Financial Planning LLP
Notes to the Financial Statements
For The Year Ended 31 March 2019
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in January 2017 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
1.2.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment |
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2.
Tangible Assets
Computer Equipment | |
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£ | |
Cost | |
As at |
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As at |
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Depreciation | |
As at |
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As at |
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Net Book Value | |
As at |
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As at |
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3.
Creditors: Amounts Falling Due Within One Year
2019 | 2018 | ||
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£ | £ | ||
4.
General Information
Kingsfleet Independent Financial Planning LLP is a limited liability partnership, incorporated in England & Wales, registered number OC383964 . The Registered Office is Claydon Court, Old Ipswich Road, Claydon, Suffolk, IP6 0AE.
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