Collier Littler LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC412075 (England and Wales)

Unaudited Financial Statements

For The Year Ended

31 March 2019

for

COLLIER LITTLER LLP

Page

General Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DESIGNATED MEMBERS:

J Fairbrother

D A Hensley

REGISTERED OFFICE:

411-413 Stockport Road

Timperley

Altrincham

Cheshire

WA15 7XR

REGISTERED NUMBER:

OC412075 (England and Wales)

ACCOUNTANTS:

Leavitt Walmsley Associates Limited

Chartered Certified Accountants

8 Eastway

Sale

Cheshire

M33 4DX

FIXED ASSETS

Tangible assets

4

3,630

3,807

CURRENT ASSETS

Stocks

30,039

51,189

Debtors

42,687

61,016

Cash at bank and in hand

4,215,243

3,425,384

4,287,969

3,537,589

CREDITORS

Amounts falling due within one year

4,258,840

3,463,908

NET CURRENT ASSETS

29,129

73,681

TOTAL ASSETS LESS CURRENT LIABILITIES

32,759

77,488

CREDITORS

Amounts falling due after more than one year

1,736

9,873

NET ASSETS ATTRIBUTABLE TO MEMBERS

31,023

67,615

LOANS AND OTHER DEBTS DUE TO MEMBERS

5

31,023

67,615

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

5

31,023

67,615

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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2019 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 19 December 2019 and were signed by:

J Fairbrother - Designated member

D A Hensley - Designated member

1.	STATUTORY INFORMATION

Collier Littler 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 the provisions of FRS 102 "The Financial

Reporting Standard applicable in the UK and Republic of Ireland" including Section 1A "Small Entities" and the

Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Fees received

Revenue for services represents the fair value of services provided during the year on work carried out for

clients. Fair value represents the amount expected to be recoverable from clients and is based on the time

spent, expertise and skills provided and expenses incurred. Fee income is stated net of Value Added Tax.

Legal services provided to clients during the year which, by the balance sheet date, has not been invoiced to

clients, has been recognised as fee income in accordance with Section 23 of FRS 102. Fee income recognised

in this manner is based on an assessment of the fair value of the services provided by the balance sheet date as

a proportion of the total value of the engagement.

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

-

33% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Cost includes costs which are directly attributable in bringing the asset to its location and condition so that it is

capable of operating in the manner intended by management.

Profits and losses on the disposal of fixed assets are included in the calculation of profit for the year.

The directors assess the company's tangible assets for evidence of impairment at each reporting date. Where

there are indicators of impairment, the directors calculate recoverable amount of the asset(s) and compare this

with the carrying amount. If recoverable amount is lower than carrying amount, the asset is written down to

recoverable amount by way of an impairment loss which is recognised in profit or loss for the year. Impairment

losses are reversed when there is evidence that the reasons giving rise to the original impairment loss have

ceased to apply. Impairment losses are reversed through profit and loss, but only to the extent that the reversal

does not increase the carrying amount of the asset to the amount which would have been stated, net of

depreciation, had no impairment loss been recognised.

Work in progress

Work in progress is valued at the lower of cost and estimated selling pice less costs to complete and sell.

Cost is calculated based on the charge-out rates of the staff and an estimate of other costs likely to be incurred

in completing the transaction. Work in progress represents amounts which cannot be billed due to failing to

meet the revenue recognition criteria in FRS

Financial instruments

A financial asset or financial liability is recognised only when the entity becomes a party to the contractual

provisions of the instrument.

Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the

effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their

fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through

profit or loss. All other investments are subsequently measured at cost less impairment.

Debtors and creditors which fall due within one year are recorded in the financial statements at transaction price

and subsequently measured at amortised cost. If the effects of the time value of money are immaterial, they are

measured at cost (less impairment for trade debtors). Debtors are reviewed for impairment at each reporting

date and any impairments are recorded in profit or loss and shown within administrative expenses when there is

objective evidence that a debtor is impaired. Objective evidence that a debtor is impaired arises when the

customer is unable to settle amounts owing to the company or the customer becomes bankrupt.

Debtors do not carry interest and are stated at their nominal value.

Trade creditors are not interest-bearing and are stated at their nominal value.

Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of

impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is

recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial

assets that are individually significant, are assessed individually for impairment. Other financial assets are either

assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not

result in a carrying amount of the financial asset which exceeds what the carrying amount would have been had

the impairment loss not previously been recognised.

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 the profit and loss account using the effective interest

method under Section 11 of FRS 102 ‘Basic Financial Instruments’. The capital element of the liability is

presented in the balance sheet as a liability and split between the portion falling due within one year and the

portion falling due after more than one year.

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.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for

the employee's services to the company. Where employees have accrued short-term benefits which the entity

has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one

year with an associated expense in profit or loss.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 18 (2018 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2018

7,155

Additions

3,499

Disposals

(3,275

)

At 31 March 2019

7,379

DEPRECIATION

At 1 April 2018

3,348

Charge for year

3,676

Eliminated on disposal

(3,275

)

At 31 March 2019

3,749

NET BOOK VALUE

At 31 March 2019

3,630

At 31 March 2018

3,807

5.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Amounts due to members will rank pari pasu with other unsecured creditors in the event of a winding up. In

such a circumstance, the members have subordinated their rights to payments owed to them in preference to

external creditors.

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 Member are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability

Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your

approval the financial statements of Collier Littler LLP for the year ended 31 March 2019 which comprise the Income

Statement, Abridged Balance Sheet and the related notes from the LLP's accounting records and from information and

explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the members of Collier Littler LLP in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Collier Littler LLP and state those matters that we have agreed to state to the members of Collier Littler LLP in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Collier Littler LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Collier Littler LLP. You consider that Collier Littler LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Collier Littler LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Leavitt Walmsley Associates Limited

Chartered Certified Accountants

8 Eastway

Sale

Cheshire

M33 4DX

Date: .............................................