Vantage Point Operations LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC381641 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

VANTAGE POINT OPERATIONS LLP

Page

General Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mr J H Denham

Mrs J S A Denham

Mrs M Long

Mr R Wiggins

Miss A T Devine

Mr R I Prado Remon

REGISTERED OFFICE:

Fifth Floor,

11 Leadenhall Street,

London

EC3V 1LP

REGISTERED NUMBER:

OC381641 (England and Wales)

ACCOUNTANTS:

Acuity Professional Ltd

Business Advisers and Accountants

Fifth Floor

11 Leadenhall Street

London

EC3V 1LP

CURRENT ASSETS

Debtors

3

18,173

27,186

Cash at bank

9,620

10,272

27,793

37,458

CREDITORS

Amounts falling due within one year

4

6,772

6,104

NET CURRENT ASSETS

21,021

31,354

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

21,021

31,354

LOANS AND OTHER DEBTS DUE TO MEMBERS

20,521

30,754

MEMBERS' OTHER INTERESTS

Capital accounts

500

600

21,021

31,354

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

20,521

30,754

Members' other interests

500

600

21,021

31,354

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:

Mr J H Denham - Designated member

1.	STATUTORY INFORMATION

Vantage Point Operations 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 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.

The preparation of financial statements in conformity with FRS 102 section 1A requires the use of certain critical

accounting estimates. lt also requires management to exercise judgement in applying the company's accounting

policies.

SIGNIFICANT JUDGEMENTS AND ESTIMATES

In preparing the financial statements, the members are required to make estimates and judgements about the

carrying amounts of assets and liabilities. The estimates and assumptions are reviewed on an ongoing basis and are

based on historical experience and other factors that are considered by the members to be relevant. Revision to

accounting estimates are recognised in the period in which the estimate is revised.

TURNOVER

Turnover comprises the value of consideration receivable from the customer for the rendering of services, net of

value-added tax (VAT) rebates and discounts. Non-contract based revenue is recognised as and when the services

are performed. Contract based revenue is recognised on a straight-line basis over the life of the contract.

FOREIGN CURRENCIES

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

statement of financial position 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.

FINANCIAL INSTRUMENTS

The LLP has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other

Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognized in the company's balance sheet when the company becomes party to the

contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there

is a legally enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to

realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction

price including transaction costs and are subsequently carried at amortised cost using the effective interest method

unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value

of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one

year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of

the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference

shares that are classified as debt, are initially recognized at transaction price unless the arrangement constitutes a

financing transaction, where the debt instrument is measured at the present value of the future payment discounted

at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

18,113

27,186

Other debtors

60

-

18,173

27,186

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Taxation and social security

6,038

5,628

Other creditors

734

476

6,772

6,104