Peter Neal Pensions LLP - LLP accounts 18.2

REGISTERED NUMBER: OC305023 (England and Wales)

Report of the Members and

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Peter Neal Pensions LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Statement of Financial Position

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

D Neal

Peter Neal Financial Planning Limited

REGISTERED OFFICE:

10 Ravenswood Crescent

West Wickham

Kent

BR4 0JJ

REGISTERED NUMBER:

OC305023 (England and Wales)

ACCOUNTANT:

Aspirations Accountancy Ltd

C7-C8

Spectrum Business Centre

Anthony's Way

Rochester

Kent

ME2 4NP

The members present their report with the financial statements of the LLP for the year ended 31 March 2019.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of providing independent financial advice,

specialist pension management, general investment management and related services.

DESIGNATED MEMBERS

The designated members during the year under review were:

Peter Neal Financial Planning Limited and Mr David Neal.

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £239,955 (2018 - £509,122 profit).

MEMBERS' INTERESTS

STATEMENT OF MEMBERS' RESPONSIBILITIES

The members are responsible for preparing the Report of the Members and the financial statements in accordance

with applicable law and regulations.

Legislation applicable to limited liability partnerships 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),

including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of

Ireland'. Under legislation applicable 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 of the LLP for that period. In preparing these financial statements, the members are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

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 applied to LLPs 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.

ON BEHALF OF THE MEMBERS:

Peter Neal Financial Planning Limited - Designated member

27 August 2019

TURNOVER

648,742

1,162,663

Cost of sales

147,179

396,493

GROSS PROFIT

501,563

766,170

Administrative expenses

261,636

257,059

OPERATING PROFIT

4

239,927

509,111

Interest receivable and similar income

28

11

PROFIT FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT
SHARES

239,955

509,122

PROFIT FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT
SHARES

239,955

509,122

Members' remuneration charged as an
expense

5

(239,955

)

(509,122

)

PROFIT FOR THE FINANCIAL YEAR
AVAILABLE FOR DISCRETIONARY DIVISION
AMONG MEMBERS

-

FIXED ASSETS

Tangible assets

6

5,111

6,353

CURRENT ASSETS

Debtors

7

11,417

2,604

Cash at bank

29,648

66,035

41,065

68,639

CREDITORS

Amounts falling due within one year

8

7,143

5,207

NET CURRENT ASSETS

33,922

63,432

TOTAL ASSETS LESS CURRENT LIABILITIES

39,033

69,785

CREDITORS

Amounts falling due after more than one
year

9

-

707

NET ASSETS ATTRIBUTABLE TO MEMBERS

39,033

69,078

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

39,033

69,078

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

39,033

69,078

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 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 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 27 August 2019 and were signed by:

Peter Neal Financial Planning Limited - Designated member

1.	STATUTORY INFORMATION

Peter Neal Pensions 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.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

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 6 (2018 - 6 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

2019

2018

£

Depreciation - owned assets

1,242

2,267

5.	INFORMATION IN RELATION TO MEMBERS

2019

2018

£

Members' remuneration charged as an expense

Automatic division of profit

239,955

509,122

6.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 April 2018

and 31 March 2019

19,657

11,127

30,784

DEPRECIATION

At 1 April 2018

12,842

11,589

24,431

Charge for year

1,704

(462

)

1,242

At 31 March 2019

14,546

11,127

25,673

NET BOOK VALUE

At 31 March 2019

5,111

-

5,111

At 31 March 2018

6,815

(462

)

6,353

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

Trade debtors

(1

)

2,604

Other debtors

11,418

-

11,417

2,604

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

Trade creditors

1,364

-

Taxation and social security

3,350

3,415

Other creditors

2,429

1,792

7,143

5,207

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

Other creditors

-

707

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2019

2018

£

Amounts owed to members in respect of profits

39,033

69,078

Falling due within one year

39,033

69,078

The loans and others debts (other than member's capital classified as debt) due to the members of the

company will equally rank to the creditors of the company in the event the company winding up.There are no

restrictions or limitations on the members reducing the member's other interest in the company.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is P J Neal.

The ultimate controlling party is P J Neal.