Adrenaline Martial Arts LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC388883 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2018

FOR

ADRENALINE MARTIAL ARTS LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

L Nash

L G Nash

REGISTERED OFFICE:

Swatton Barn

Badbury

Swindon

Wiltshire

SN4 0EU

REGISTERED NUMBER:

OC388883 (England and Wales)

ACCOUNTANTS:

d&t

Chartered Accountants

Swatton Barn

Badbury

Swindon

Wiltshire

SN4 0EU

FIXED ASSETS

Tangible assets

4

23,127

22,464

CURRENT ASSETS

Debtors

5

2,026

4,026

Cash at bank

6,158

25,966

8,184

29,992

CREDITORS

Amounts falling due within one year

6

15,615

12,341

NET CURRENT (LIABILITIES)/ASSETS

(7,431

)

17,651

TOTAL ASSETS LESS CURRENT LIABILITIES

15,696

40,115

CREDITORS

Amounts falling due after more than one year

7

13,698

15,434

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,998

24,681

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

1,998

24,681

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

1,998

24,681

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 October 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.

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 30 August 2019 and were signed by:

L Nash - Designated member

1.	STATUTORY INFORMATION

Adrenaline Martial Arts LLP is registered in England and Wales. The LLP's registered number and

registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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 etc

-

25% straight line basis

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period

of the lease.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 4 (2017 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2017

50,809

Additions

16,997

Disposals

(21,339

)

At 31 October 2018

46,467

DEPRECIATION

At 1 November 2017

28,345

Charge for year

11,452

Eliminated on disposal

(16,457

)

At 31 October 2018

23,340

NET BOOK VALUE

At 31 October 2018

23,127

At 31 October 2017

22,464

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

Plant and

machinery

etc

£

COST

At 1 November 2017

21,339

Disposals

(21,339

)

At 31 October 2018

-

DEPRECIATION

At 1 November 2017

13,359

Charge for year

3,098

Eliminated on disposal

(16,457

)

At 31 October 2018

-

NET BOOK VALUE

At 31 October 2018

-

At 31 October 2017

7,980

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

2,026

4,026

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

4,650

6,045

Hire purchase contracts (see note 8)

295

3,683

Other creditors

10,670

2,613

15,615

12,341

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

13,698

9,431

Hire purchase contracts (see note 8)

-

6,003

13,698

15,434

8.	LEASING AGREEMENTS

At 31st October 2018, the company had total commitments under non-cancellable operating leases over

the remaining life of those leases of £24,163.

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

17,955

15,473

Hire purchase contracts

295

9,686

18,250

25,159

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2018

2017

£

£

Amounts owed to members in respect of profits

1,998

24,681

Falling due within one year

1,998

24,681

Amounts due to members rank equally alongside the other unsecured creditors.