Edinburgh Plastic Surgeons LLP - LLP accounts 18.2

REGISTERED NUMBER: OC341979 (England and Wales)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

EDINBURGH PLASTIC SURGEONS LLP

TRADING AS

REFINE PLASTIC SURGEONS

Page

General Information

1

Report of the Members

2

Chartered Accountants' Report

3

Statement of Comprehensive Income

4

Balance Sheet

5

Reconciliation of Members' Interests

8

Notes to the Financial Statements

10

DESIGNATED MEMBERS:

Edinburgh Plastic Surgery Limited

Hampson Bahia Consulting Limited

Ken Stewart Ltd

M S Butterworth Limited

P Addison Medical Limited

Dr E Majdak-Paredes

REGISTERED OFFICE:

Sandison Easson & Co

Rex buildings

Alderley road

Wilmslow

Cheshire

SK9 1HY

REGISTERED NUMBER:

OC341979 (England and Wales)

ACCOUNTANTS:

Sandison Easson & Co

Rex Buildings

Alderley Road

Wilmslow

Cheshire

SK9 1HY

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

PRINCIPAL ACTIVITY

The LLP's principal activity continues to be that of plastic surgery.

DESIGNATED MEMBERS

The designated members during the year under review were:

Mr P D Addison

Edinburgh Plastic Surgery Limited

Hampson Bahia Consulting Limited

Ken Stewart Ltd

M S Butterworth Limited

P Addison Medical Limited

Dr E Majdak-Paredes

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £1,047,213 (2018 -

£968,417 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

M S Butterworth Limited - Designated member

23 December 2019

In accordance with our terms of engagement we have prepared for your approval the financial

statements of Edinburgh Plastic Surgeons LLP for the year ended 31 March 2019 on pages three

to six from the accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales

(ICAEW), we are subject to its ethical and other professional requirements which are detailed at

icaew.com/membershandbook.

This report is made solely to you, in accordance with our terms of engagement. Our work has

been undertaken solely to prepare for your approval the financial statements of Edinburgh Plastic

Surgeons LLP and state those matters that we have agreed to state to you in this report in

accordance with the guidance of ICAEW as detailed at icaew.com/compilation. To the fullest

extent permitted by law, we do not accept or assume responsibility to anyone other than you for

our work or for this report.

By signing these accounts you have approved the financial statements for the year ended

31 March 2019 and have acknowledged your responsibility for them, for the appropriateness of

the financial reporting framework adopted and for providing all information and explanations

necessary for their compilation.

Sandison Easson & Co

23 December 2019

TURNOVER

1,254,976

1,167,789

Cost of sales

52,804

56,263

GROSS PROFIT

1,202,172

1,111,526

Distribution costs

11,940

11,940

Administrative expenses

143,019

131,169

154,959

143,109

OPERATING PROFIT and

PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

1,047,213

968,417

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,047,213

968,417

FIXED ASSETS

Intangible assets

5

5,569

17,509

Tangible assets

6

961

1,281

6,530

18,790

CURRENT ASSETS

Debtors

7

119,838

91,161

Cash at bank

170,063

31,907

289,901

123,068

CREDITORS

Amounts falling due within one year

8

130,141

19,582

NET CURRENT ASSETS

159,760

103,486

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

166,290

122,276

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

166,288

122,274

MEMBERS' OTHER INTERESTS

Other reserves

2

2

166,290

122,276

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

166,288

122,274

Members' other interests

2

2

Amounts due from members

7

(1,107

)

-

165,183

122,276

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 applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP on 23 December 2019 and were signed by:

M S Butterworth Limited - Designated member

EQUITY

DEBT

TOTAL

Members'

Loans and other debts due to

MEMBERS'

other

members less any amounts due

INTERESTS

interests

from members in debtors

Other

Other

reserves

amounts

Total

£

£

£

Amount due to members

122,274

Amount due from members

-

Balance at 1 April 2018

2

122,274

122,276

Profit for the financial year available for discretionary division among members

1,047,213

-

1,047,213

Members' interests after profit for the year

1,047,215

122,274

1,169,489

Other divisions of profit

(1,047,213

)

1,047,213

-

Introduced by members

-

25,779

25,779

Drawings

-

(1,030,085

)

(1,030,085

)

Amount due to members

166,288

Amount due from members

(1,107

)

Balance at 31 March 2019

2

165,181

165,183

EQUITY

DEBT

TOTAL

Members'

Loans and other debts due to

MEMBERS'

other

members less any amounts due

INTERESTS

interests

from members in debtors

Other

Other

reserves

amounts

Total

£

£

£

Amount due to members

82,891

Amount due from members

-

Balance at 1 April 2017

2

82,891

82,893

Profit for the financial year available for discretionary division among members

968,417

-

968,417

Members' interests after profit for the year

968,419

82,891

1,051,310

Other divisions of profit

(968,417

)

968,417

-

Drawings

-

(929,034

)

(929,034

)

Amount due to members

122,274

Amount due from members

-

Balance at 31 March 2018

2

122,274

122,276

1.	STATUTORY INFORMATION

Edinburgh Plastic Surgeons 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.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment

losses.

Trademark are being amortised evenly over their estimated useful life of ten years.

Website is being amortised evenly over its estimated useful life of four years.

DEPRECIATION

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

Plant and machinery etc

-

25% 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 5 (2018 - 4 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

2019

2018

£

£

Depreciation - owned assets

320

426

Trademark amortisation

60

60

Website amortisation

11,880

11,880

5.	INTANGIBLE FIXED ASSETS

Trademark

Website

Totals

£

£

£

COST

At 1 April 2018

and 31 March 2019

600

47,520

48,120

AMORTISATION

At 1 April 2018

120

30,491

30,611

Amortisation for year

60

11,880

11,940

At 31 March 2019

180

42,371

42,551

NET BOOK VALUE

At 31 March 2019

420

5,149

5,569

At 31 March 2018

480

17,029

17,509

6.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2018

and 31 March 2019

1,667

9,659

11,326

DEPRECIATION

At 1 April 2018

1,370

8,675

10,045

Charge for year

74

246

320

At 31 March 2019

1,444

8,921

10,365

NET BOOK VALUE

At 31 March 2019

223

738

961

At 31 March 2018

297

984

1,281

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

117,931

89,503

Amounts due from members

1,107

-

Prepayments and accrued income

800

1,658

119,838

91,161

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Credit card

1,120

500

Social security and other taxes

2,533

2,533

Accrued expenses

126,488

16,549

130,141

19,582

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2019

2018

£

£

Amounts owed to members in respect of profits

166,288

122,274

Falling due within one year

166,288

122,274