Specialist Herbal Supplies LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC312065 (England and Wales)

Financial Statements for the Year Ended 30 November 2018

for

Specialist Herbal Supplies LLP

Page

General Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DESIGNATED MEMBERS:

Specialist Herbal Supplies (UK) Ltd

Specialist Herbal Supplies Assets LLP

REGISTERED OFFICE:

Portslade Hall

18 Station Road

Portslade

East Sussex

BN41 1GB

REGISTERED NUMBER:

OC312065 (England and Wales)

ACCOUNTANTS:

Wood & Associates LLP

Chartered Certified Accountants

Maritime House

Basin Road North

Hove

East Sussex

BN41 1WR

FIXED ASSETS

Intangible assets

4

26,178

33,972

Tangible assets

5

23,584

28,712

49,762

62,684

CURRENT ASSETS

Stocks

5,081

6,473

Debtors

14,709

20,076

Cash at bank and in hand

10,750

6,800

30,540

33,349

CREDITORS

Amounts falling due within one year

12,120

19,243

NET CURRENT ASSETS

18,420

14,106

TOTAL ASSETS LESS CURRENT LIABILITIES

68,182

76,790

CREDITORS

Amounts falling due after more than one year

12,100

16,500

NET ASSETS ATTRIBUTABLE TO MEMBERS

56,082

60,290

LOANS AND OTHER DEBTS DUE TO MEMBERS

-

-

MEMBERS' OTHER INTERESTS

Capital accounts

56,082

60,290

56,082

60,290

TOTAL MEMBERS' INTERESTS

Members' other interests

56,082

60,290

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 30 November 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 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 November 2018 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

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 27 August 2019 and were signed by:

Specialist Herbal Supplies Assets LLP - Designated member

1.	STATUTORY INFORMATION

Specialist Herbal Supplies 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of seventeen years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire

purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over

their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the

future payments is treated as a liability.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2017 - NIL).

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2017

and 30 November 2018

132,500

AMORTISATION

At 1 December 2017

98,528

Amortisation for year

7,794

At 30 November 2018

106,322

NET BOOK VALUE

At 30 November 2018

26,178

At 30 November 2017

33,972

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2017

40,084

Additions

3,765

Disposals

(2,454

)

At 30 November 2018

41,395

DEPRECIATION

At 1 December 2017

11,372

Charge for year

8,239

Eliminated on disposal

(1,800

)

At 30 November 2018

17,811

NET BOOK VALUE

At 30 November 2018

23,584

At 30 November 2017

28,712

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 December 2017

and 30 November 2018

24,000

DEPRECIATION

At 1 December 2017

1,407

Charge for year

5,648

At 30 November 2018

7,055

NET BOOK VALUE

At 30 November 2018

16,945

At 30 November 2017

22,593

6.	ULTIMATE CONTROLLING PARTY

M Simmonds was the controlling party throughout the current and previous period.

The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial

statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are

cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required

to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 November 2018 set out on pages one to thirteen and you consider that the LLP is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Wood & Associates LLP

Chartered Certified Accountants

Maritime House

Basin Road North

Hove

East Sussex

BN41 1WR

27 August 2019