Harrison Saws Limited Liability Partnership - Period Ending 2019-03-31

Registration number: OC312783

Harrison Saws Limited Liability Partnership

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2019
 

Thompson Jones Business Solutions Limited
Chartered Accountants
2 Heap Bridge
Bury
Lancashire
BL9 7HR

 

Harrison Saws Limited Liability Partnership

Contents

Limited liability partnership information	1
Members' Report	2
Accountants' Report	3
Financial Statements	4 to 8
Profit and Loss Account	4
Balance Sheet	5
Statement of Changes in Members’ Interests	6
Notes to the Financial Statements	7

Harrison Saws Limited Liability Partnership

Limited liability partnership information

Designated members

A Cookson M Cookson Harrison Saw & Tool Ltd

Registered office

2 Heap Bridge Bury Lancashire BL9 7HR

Principal place of business

Phoenix House Carrs Industrial Estate Haslingden Rossendale Lancashire BB4 5HR

Bankers

HSBC Bank plc Bury 2 Market Street Bury Lancashire BL9 0AN

Accountants

Thompson Jones Business Solutions Limited Chartered Accountants 2 Heap Bridge Bury Lancashire BL9 7HR

Page 1

Harrison Saws Limited Liability Partnership

Members' Report for the Year Ended 31 March 2019

The members present their report and the unaudited financial statements for the year ended 31 March 2019.

Firm structure

The LLP is a limited liability partnership registered in England & Wales. A list of designated members’ names is available for inspection at the LLP’s registered office.

Principal activity

The principal activity of the limited liability partnership was the sale of bandsaw and related machines. The LLP has ceased to trade and was dormant throughtout the current year.

Designated members

The members who held office during the year were as follows:

A Cookson

M Cookson

Harrison Saw & Tool Ltd

Members' drawings and the subscription and repayment of members' capital

Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP. New members are required to subscribe a minimum level of capital and in subsequent years, members are invited to subscribe for further capital, the amount of which is determined by the performance and seniority of those members. On retirement, capital is repaid to members.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, as applied to limited liability partnerships.

Approved by the Board on 13 January 2020 and signed on its behalf by:

.........................................
A Cookson
Designated member

Page 2

Chartered Accountants' Report to the Members on the Preparation of the Unaudited Statutory Accounts of
Harrison Saws Limited Liability Partnership
for the Year Ended 31 March 2019

In order to assist you to fulfil your duties under the Companies Act 2006, as applied to limited liability partnerships, we have prepared for your approval the accounts of Harrison Saws Limited Liability Partnership for the year ended 31 March 2019 set out on pages 4 to 8 from the limited liability partnership's 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
http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the members of Harrison Saws Limited Liability Partnership, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Harrison Saws Limited Liability Partnership and state those matters that we have agreed to state to the members of Harrison Saws Limited Liability Partnership, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Harrison Saws Limited Liability Partnership and its members as a body for our work or for this report.

It is your duty to ensure that Harrison Saws Limited Liability Partnership has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and results of Harrison Saws Limited Liability Partnership. You consider that Harrison Saws Limited Liability Partnership 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 accounts of Harrison Saws Limited Liability Partnership. 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 accounts.

......................................

Thompson Jones Business Solutions Limited
Chartered Accountants
2 Heap Bridge
Bury
Lancashire
BL9 7HR

13 January 2020

Page 3

Harrison Saws Limited Liability Partnership

Profit and Loss Account for the Year Ended 31 March 2019

	Note	2019  £	2018  £
Turnover		-	-
Administrative expenses		-	28,371
Operating profit		-	28,371
Profit for the year before members' remuneration and profit shares		-	28,371
Members' remuneration charged as an expense		-	(28,371)
Profit/(loss) for the year available for discretionary division among members		-	-

Turnover and operating profit derive wholly from continuing operations.

The limited liability partnership has no recognised gains or losses for the year other than the results above.

The notes on pages 7 to 8 form an integral part of these financial statements.
Page 4

Harrison Saws Limited Liability Partnership

(Registration number: OC312783)
Balance Sheet as at 31 March 2019

	Note	2019  £	2018  £
Net assets/(liabilities) attributable to members		-	-
Represented by:
		-	-
		-	-

For the year ending 31 March 2019 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, as applied to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of Harrison Saws Limited Liability Partnership (registered number OC312783) were approved by the Board and authorised for issue on 13 January 2020. They were signed on behalf of the limited liability partnership by:

.........................................
A Cookson
Designated member

The notes on pages 7 to 8 form an integral part of these financial statements.
Page 5

Harrison Saws Limited Liability Partnership

Statement of Changes in Members’ Interests
At 31 March 2019

	Loans and other debts due to/(from) members
	Members' other amounts £	Total 2019  £
Members' interest at 1 April 2018	-	-
Members' remuneration charged as an expense	-	-
Members' interests after profit for the year	-	-
At 31 March 2019	-	-

	Loans and other debts due to/(from) members
	Members' other amounts £	Total 2018  £
Members' interest at 1 April 2017	21,934	21,934
Members' remuneration charged as an expense	28,371	28,371
Members' interests after total comprehensive income	50,305	50,305
Drawings (including tax payments)	(50,305)	(50,305)
At 31 March 2018	-	-

The notes on pages 7 to 8 form an integral part of these financial statements.
Page 6

Harrison Saws Limited Liability Partnership

Notes to the Financial Statements for the Year Ended 31 March 2019

1	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England & Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of Harrison Saws Limited Liability Partnership is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Members' remuneration and division of profits

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

Foreign currency

Profit and loss account transactions in foreign currencies are translated into sterling at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the closing rates at the balance sheet date and the exchange differences are included in the profit and loss account.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

other taxes policy

Page 7

Harrison Saws Limited Liability Partnership

Notes to the Financial Statements for the Year Ended 31 March 2019 (continued)

1	Accounting policies (continued)

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

Financial instruments

Classification

All financial assets and liabilities are initially measured at transaction price (including transaction costs).

Recognition and Measurement

Debt instruments that are classified as payable or receivable within one year on initial recognition are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

2

Control

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.

Page 8