Belmont Trade and Commerce LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC327923 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Belmont Trade and Commerce LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

I R Williams

Mrs D Williams

REGISTERED OFFICE:

Harmile House

54 St Marys Lane

Upminster

Essex

RM14 2QT

BUSINESS ADDRESS:

Unit 1

Meridian Trading Estate

Lombard Wall

Charlton

London

SE7 7SW

REGISTERED NUMBER:

OC327923 (England and Wales)

ACCOUNTANTS:

J P B Harris & Co.

Chartered Accountants

Harmile House

54 St Marys Lane

Upminster

Essex

RM14 2QP

FIXED ASSETS

Tangible assets

4

281

148

CURRENT ASSETS

Stocks

-

48,125

Debtors

5

198,713

175,042

Cash at bank

203,874

160,723

402,587

383,890

CREDITORS

Amounts falling due within one year

6

279,462

129,450

NET CURRENT ASSETS

123,125

254,440

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

123,406

254,588

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

104,519

113,172

MEMBERS' OTHER INTERESTS

Other reserves

18,887

141,416

123,406

254,588

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

104,519

113,172

Members' other interests

18,887

141,416

Amounts due from members

5

(22,255

)

(95,012

)

101,151

159,576

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 23 December 2019 and were signed by:

I R Williams - Designated member

1.	STATUTORY INFORMATION

Belmont Trade and Commerce 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 cost

Computer equipment

-

33% on cost

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

FINANCIAL INSTRUMENTS

The LLP has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial

instruments.

Financial instruments are recognised in the LLP's balance sheet when the LLP becomes party to the contractual provisions

of the instrument.

Cash and cash equivalents

These comprise cash at bank and any short term highly liquid bank deposits with an original maturity of three month or

less.

Debtors

Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable

amounts are recognised in the Profit and Loss account when there is evidence that the asset is impaired.

Trade creditors

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

FOREIGN CURRENCIES

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet

date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction.

Exchange differences are taken into account in arriving at the operating result.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEE INFORMATION

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

13,996

Additions

342

Disposals

(8,532

)

At 31 March 2019

5,806

DEPRECIATION

At 1 April 2018

13,848

Charge for year

209

Eliminated on disposal

(8,532

)

At 31 March 2019

5,525

NET BOOK VALUE

At 31 March 2019

281

At 31 March 2018

148

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

176,229

77,173

Other debtors

22,484

97,869

198,713

175,042

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

265,711

115,279

Other creditors

13,751

14,171

279,462

129,450

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Debts due to members rank equally with other creditors in the event of a winding up.