MAD Architects LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC323947 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

MAD Architects LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mr M P Rix

Mrs E Sophocleous

Mrs L Rix

REGISTERED OFFICE:

45 Brockwell Lane

Chesterfield

Derbyshire

S40 4EA

REGISTERED NUMBER:

OC323947 (England and Wales)

ACCOUNTANTS:

Hadfields Chartered Accountants

Commerce House

658B Chatsworth Road

Chesterfield

Derbyshire

S40 3JZ

FIXED ASSETS

Tangible assets

3

3,180

1,188

CURRENT ASSETS

Stocks

1,500

4,000

Debtors

4

2,500

3,500

Cash at bank

2,268

6,383

6,268

13,883

CREDITORS

Amounts falling due within one year

5

1,543

5,460

NET CURRENT ASSETS

4,725

8,423

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

7,905

9,611

LOANS AND OTHER DEBTS DUE TO MEMBERS

6

7,905

9,611

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

6

7,905

9,611

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 and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

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 16 December 2019 and were signed by:

Mr M P Rix - Designated member

1.	STATUTORY INFORMATION

MAD Architects 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.

Plant and machinery etc

-

50% on cost, 33% on cost, 25% on reducing balance and 15% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

9,133

Additions

3,028

At 31 March 2019

12,161

DEPRECIATION

At 1 April 2018

7,945

Charge for year

1,036

At 31 March 2019

8,981

NET BOOK VALUE

At 31 March 2019

3,180

At 31 March 2018

1,188

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

2,500

3,500

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

883

4,800

Other creditors

660

660

1,543

5,460

6.

LOANS AND OTHER DEBTS DUE TO MEMBERS

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

winding up.

There is no provision for specific legally enforceable protection afforded to creditors in such an event.

There are no restrictions or limitations on the ability of the members to reduce the amount of ‘Members’ other

interests'.