The PR Network Partnership LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC403703 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2020

FOR

THE PR NETWORK PARTNERSHIP LLP

Page

General Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mrs G R Ellse

Mrs N C Regazzoni

REGISTERED OFFICE:

4 Old Park Lane

London

London

W1K 1QW

REGISTERED NUMBER:

OC403703 (England and Wales)

ACCOUNTANTS:

Elsby & Co

Thistledown Barn

204 Holcot Road

Sywell

Northampton

Northamptonshire

NN6 0BG

FIXED ASSETS

Tangible assets

4

1,249

2,022

CURRENT ASSETS

Debtors

782,097

382,437

Cash at bank

257,822

164,615

1,039,919

547,052

CREDITORS

Amounts falling due within one year

892,844

490,568

NET CURRENT ASSETS

147,075

56,484

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

148,324

58,506

LOANS AND OTHER DEBTS DUE TO MEMBERS

5

148,324

58,506

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

5

148,324

58,506

Amounts due from members

-

(1,106

)

148,324

57,400

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 January 2020.

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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2020 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 24 September 2020 and were signed by:

Mrs N C Regazzoni - Designated member

1.	STATUTORY INFORMATION

The PR Network Partnership 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 represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions are made into an independently operated pension

scheme and are charged to the profit or loss in the period to which they relate.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2019 - 1 ).

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 February 2019

and 31 January 2020

2,342

DEPRECIATION

At 1 February 2019

320

Charge for year

773

At 31 January 2020

1,093

NET BOOK VALUE

At 31 January 2020

1,249

At 31 January 2019

2,022

5.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2020

2019

£

£

Amounts owed to members in respect of profits

148,324

58,506

Falling due within one year

148,324

58,506

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