Hubbard Pegman & Whitney LLP - Accounts to registrar (filleted) - small 18.2

Hubbard Pegman & Whitney LLP - Accounts to registrar (filleted) - small 18.2

HUBBARD PEGMAN & WHITNEY LLP - Company Information

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REGISTERED NUMBER: OC329662 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

HUBBARD PEGMAN & WHITNEY LLP
HUBBARD PEGMAN & WHITNEY LLP (REGISTERED NUMBER: OC329662)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HUBBARD PEGMAN & WHITNEY LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2019







DESIGNATED MEMBERS: Mrs O K Hubbard
Ms C I Pegman
P N Cunningham
Hubbard & Pegman Limited
B P Augustine





REGISTERED OFFICE: 7 King Street Cloisters
Clifton Walk
King Street
London
W6 0GY





REGISTERED NUMBER: OC329662 (England and Wales)





ACCOUNTANTS: Nunn Hayward LLP
Chartered Accountants
2-4 Packhorse Road
Gerrards Cross
Buckinghamshire
SL9 7QE
1
HUBBARD PEGMAN & WHITNEY LLP (REGISTERED NUMBER: OC329662)

BALANCE SHEET
31 MARCH 2019

2019 2018
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 9,588 7,831

CURRENT ASSETS
Debtors 5 934,675 868,320
Cash in hand 83 107
934,758 868,427
CREDITORS
Amounts falling due within one year 6 398,346 328,258
NET CURRENT ASSETS 536,412 540,169
TOTAL ASSETS LESS CURRENT
LIABILITIES
546,000
548,000

CREDITORS
Amounts falling due after more than one
year
7
10,000
10,000
NET ASSETS ATTRIBUTABLE TO
MEMBERS
536,000
538,000

LOANS AND OTHER DEBTS DUE TO
MEMBERS
-
-

MEMBERS' OTHER INTERESTS
Capital accounts 536,000 538,000
536,000 538,000

TOTAL MEMBERS' INTERESTS
Members' other interests 536,000 538,000
Amounts due from members 5 (343,827 ) (345,384 )
192,173 192,616

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 notes form part of these financial statements

2 continued...
HUBBARD PEGMAN & WHITNEY LLP (REGISTERED NUMBER: OC329662)

BALANCE SHEET - continued
31 MARCH 2019


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 25 July 2019 and were signed by:




Mrs O K Hubbard - Designated member




Ms C I Pegman - Designated member


The notes form part of these financial statements

3
HUBBARD PEGMAN & WHITNEY LLP (REGISTERED NUMBER: OC329662)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019


1. STATUTORY INFORMATION

Hubbard Pegman & Whitney 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.

Turnover represents revenue earned under a wide variety of contracts to provide professional services and
advice to third parties.

Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in
exchange for its performance under those contracts. It is measured at the fair value of the right to consideration,
which represents amounts chargeable to clients, including recoverable expenses and disbursements, but
excluding VAT.

For incomplete contracts, an assessment is made of the extent to which revenue has been earned. This
assessment takes into account the nature of the assignment, its stage of completion, and the relevant contract
terms.

Revenue in respect of contingent fee arrangements (over and above any minimum agreed fee) is recognised
when the contingent event occurs and the recoverability of the fee is assured.

Unbilled revenue is included in debtors under 'amounts recoverable on contracts'.

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

3. EMPLOYEE INFORMATION

The average number of employees during the year was 6 (2018 - 3 ) .

4 continued...
HUBBARD PEGMAN & WHITNEY LLP (REGISTERED NUMBER: OC329662)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2019


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£ £ £
COST
At 1 April 2018 48,104 29,559 77,663
Additions 594 5,365 5,959
At 31 March 2019 48,698 34,924 83,622
DEPRECIATION
At 1 April 2018 44,335 25,497 69,832
Charge for year 1,091 3,111 4,202
At 31 March 2019 45,426 28,608 74,034
NET BOOK VALUE
At 31 March 2019 3,272 6,316 9,588
At 31 March 2018 3,769 4,062 7,831

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£ £
Trade debtors 108,109 76,713
Amounts due from members 343,827 345,384
Amounts recoverable on contracts 416,642 411,291
Prepayments and accrued income 66,097 34,932
934,675 868,320

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£ £
Bank loans and overdrafts 274,909 266,894
Trade creditors 12,690 7,006
Amounts owed to participating interests 96,094 40,261
Social security and other taxes 6,217 5,702
Other creditors 1,086 1,045
Accruals and deferred income 7,350 7,350
398,346 328,258

Bank loans and overdrafts include £166,244 (2018: £189,170) which is secured by way of a debenture deed
incorporating fixed and floating charges on the assets of the Limited Liability Partnership.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2019 2018
£ £
Other creditors 10,000 10,000

8. OTHER FINANCIAL COMMITMENTS

The company had total financial commitments at the balance sheet date of £26,740 (2018: £35,654).

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