Adrenaline Martial Arts LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC388883 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2019

FOR

ADRENALINE MARTIAL ARTS LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

L Nash

L G Nash

REGISTERED OFFICE:

Swatton Barn

Badbury

Swindon

Wiltshire

SN4 0EU

REGISTERED NUMBER:

OC388883 (England and Wales)

ACCOUNTANTS:

d&t

Chartered Accountants

Swatton Barn

Badbury

Swindon

Wiltshire

SN4 0EU

FIXED ASSETS

Tangible assets

4

17,346

23,127

CURRENT ASSETS

Debtors

5

1,559

2,026

Cash at bank

8,013

6,158

9,572

8,184

CREDITORS

Amounts falling due within one year

6

16,834

15,615

NET CURRENT LIABILITIES

(7,262

)

(7,431

)

TOTAL ASSETS LESS CURRENT LIABILITIES

10,084

15,696

CREDITORS

Amounts falling due after more than one year

7

9,275

13,698

NET ASSETS ATTRIBUTABLE TO MEMBERS

809

1,998

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

809

1,998

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

809

1,998

Amounts due from members

5

(1,559

)

-

(750

)

1,998

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 October 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 30 November 2020 and were signed by:

L Nash - Designated member

1.	STATUTORY INFORMATION

Adrenaline Martial Arts 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.

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.

Plant and machinery etc

-

25% straight line basis

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.

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 1 November 2018

46,467

Additions

4,968

At 31 October 2019

51,435

DEPRECIATION

At 1 November 2018

23,340

Charge for year

10,749

At 31 October 2019

34,089

NET BOOK VALUE

At 31 October 2019

17,346

At 31 October 2018

23,127

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

1,559

2,026

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

4,755

4,650

Hire purchase contracts (see note 8)

-

295

Taxation and social security

81

-

Other creditors

11,998

10,670

16,834

15,615

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

9,275

13,698

8.	LEASING AGREEMENTS

At 31st October 2019, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £14,489 (2018: £24,163).

9.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

14,030

17,955

Hire purchase contracts

-

295

14,030

18,250

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2019

2018

£

£

Amounts owed to members in respect of profits

809

1,998

Falling due within one year

809

1,998

Amounts due to members rank equally alongside the other unsecured creditors.