PIP Asset Management LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC341915 (England and Wales)

PIP ASSET MANAGEMENT LIMITED LIABILITY

PARTNERSHIP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2019

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

C I Price

K Fawcett

REGISTERED OFFICE:

39A Welbeck Street

London

W1G 8DH

REGISTERED NUMBER:

OC341915 (England and Wales)

CURRENT ASSETS

Debtors

4

880,118

733,628

Cash at bank

24,906

246,268

905,024

979,896

CREDITORS

Amounts falling due within one year

5

905,020

769,932

NET CURRENT ASSETS

4

209,964

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

4

209,964

LOANS AND OTHER DEBTS DUE TO MEMBERS

6

-

209,960

MEMBERS' OTHER INTERESTS

Capital accounts

4

4

4

209,964

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

6

-

209,960

Members' other interests

4

4

Amounts due from members

4

(277,663

)

(284,357

)

(277,659

)

(74,393

)

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 31st 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 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 20th December 2019 and were signed by:

C I Price - Designated member

1.	STATUTORY INFORMATION

PIP Asset Management Limited Liability Partnership 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.

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.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

-

311,000

Other debtors

880,118

422,628

880,118

733,628

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

12,261

10,249

Taxation and social security

33,326

12,022

Other creditors

859,433

747,661

905,020

769,932

6.

LOANS AND OTHER DEBTS DUE TO MEMBERS

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

winding up.