Bilimoria & Bilimoria LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC347343 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2019

FOR

BILIMORIA & BILIMORIA LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Lord K F Bilimoria

Lady L H Bilimoria

REGISTERED OFFICE:

1 Doughty Street

London

WC1N 2PH

REGISTERED NUMBER:

OC347343 (England and Wales)

FIXED ASSETS

Tangible assets

4

41,534

55,379

CURRENT ASSETS

Debtors

5

83,087

109,756

Cash at bank

53,937

44,660

137,024

154,416

CREDITORS

Amounts falling due within one year

6

33,816

59,450

NET CURRENT ASSETS

103,208

94,966

TOTAL ASSETS LESS CURRENT LIABILITIES

144,742

150,345

CREDITORS

Amounts falling due after more than one year

7

46,911

58,282

NET ASSETS ATTRIBUTABLE TO MEMBERS

97,831

92,063

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

97,831

92,063

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

97,831

92,063

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 July 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 and authorised for issue on 29th July 2020 and were signed by:

Lord K F Bilimoria - Designated member

1.	STATUTORY INFORMATION

Bilimoria & Bilimoria 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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

lease.

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 4 (2018 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st August 2018

and 31st July 2019

144,821

DEPRECIATION

At 1st August 2018

89,442

Charge for year

13,845

At 31st July 2019

103,287

NET BOOK VALUE

At 31st July 2019

41,534

At 31st July 2018

55,379

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1st August 2018

and 31st July 2019

142,939

DEPRECIATION

At 1st August 2018

87,747

Charge for year

13,798

At 31st July 2019

101,545

NET BOOK VALUE

At 31st July 2019

41,394

At 31st July 2018

55,192

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

6,636

31,981

Other debtors

76,451

77,775

83,087

109,756

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

11,371

11,090

Trade creditors

4,821

20,106

Taxation and social security

11,124

8,458

Other creditors

6,500

19,796

33,816

59,450

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts

46,911

58,282

8.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Hire purchase contracts

58,282

69,372

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2019

2018

£

£

Amounts owed to members in respect of profits

97,831

92,063

Falling due within one year

97,831

92,063

In the event of winding up, amounts in 'Loans and other debts due to members' (other than members' capital

classified as debt) would rank pari passu with other unsecured creditors of the company.

There are no restrictions or limitations as such existing on the ability of the members to reduce the amount of

'Members' other interests'.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Lord & Lady K F Bilimoria.