Advies Private Clients LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC319179 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2019

FOR

ADVIES PRIVATE CLIENTS LLP

Page

General Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mr J Wills

Mr C MacSweeney

Mr M Higgins

REGISTERED OFFICE:

Millennium Bridge House

4th Floor, 2 Lambeth Hill

London

EC4V 4AR

REGISTERED NUMBER:

OC319179 (England and Wales)

ACCOUNTANTS:

George Hay & Company

Chartered Accountants

83 Cambridge Street

London

SW1V 4PS

FIXED ASSETS

Tangible assets

4

2,387

2,410

CURRENT ASSETS

Debtors

5

93,437

72,684

Cash at bank

141,478

286,602

234,915

359,286

CREDITORS

Amounts falling due within one year

6

(80,090

)

(218,881

)

NET CURRENT ASSETS

154,825

140,405

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

157,212

142,815

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

157,212

142,815

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

157,212

142,815

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 31st 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 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 14th August 2019 and were signed by:

Mr C MacSweeney - Designated member

Mr J Wills - Designated member

1.	STATUTORY INFORMATION

Advies Private Clients 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.

In preparing the financial statements the Members have considered whether, in applying the accounting policies

required by FRS 102, the restatement of comparative items was required. At the date of transition, no

restatements were required.

Turnover

Turnover represents consultancy fees and commissions receivable.

Tangible fixed assets

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

Computer equipment

-

33% on cost

Financial instruments

The LLP only enters into basic financial transactions that result in the recognition of financial assets and

liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related

parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised

in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise

the asset and settle the liability simultaneously.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme

are charged to profit or loss in the period to which they relate.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 10 (2018 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1st April 2018

35,205

Additions

2,355

At 31st March 2019

37,560

DEPRECIATION

At 1st April 2018

32,795

Charge for year

2,378

At 31st March 2019

35,173

NET BOOK VALUE

At 31st March 2019

2,387

At 31st March 2018

2,410

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

84,721

62,464

Other debtors

8,716

10,220

93,437

72,684

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

628

3,589

Taxation and social security

8,462

6,805

Other creditors

71,000

208,487

80,090

218,881

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members will rank equally with debts due to other unsecured creditors in the event

of a winding up of the LLP.