Mudd Partners LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC413949 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2020

for

Mudd Partners LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

J A Stanley

C M Jones

P Alexandrou

C D Walby

M Wright

R D Scholes

REGISTERED OFFICE:

Lakeview House

4 Woodbrook Crescent

Billericay

Essex

CM12 0EQ

REGISTERED NUMBER:

OC413949 (England and Wales)

FIXED ASSETS

Tangible assets

4

6,361

7,599

CURRENT ASSETS

Stocks

13,398

23,574

Debtors

5

713,635

734,609

Cash at bank

20,229

21,999

747,262

780,182

CREDITORS

Amounts falling due within one year

6

341,314

425,976

NET CURRENT ASSETS

405,948

354,206

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

412,309

361,805

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

412,309

361,805

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

412,309

361,805

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 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.

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 10 December 2020 and were signed by:

J A Stanley - Designated member

1.	STATUTORY INFORMATION

Mudd Partners 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.

Plant and machinery etc

-

20% on cost

Work in progress

Work in progress is stated at fair value, representing its anticipated recoverable amount.

Hire purchase and leasing commitments

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 32 (2019 - 32 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

34,255

Additions

3,765

At 31 March 2020

38,020

DEPRECIATION

At 1 April 2019

26,656

Charge for year

5,003

At 31 March 2020

31,659

NET BOOK VALUE

At 31 March 2020

6,361

At 31 March 2019

7,599

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

668,850

673,885

Other debtors

44,785

60,724

713,635

734,609

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans and overdrafts

-

4,474

Trade creditors

47,268

81,863

Other creditors

294,046

339,639

341,314

425,976

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.20

31.3.19

£

£

Within one year

66,000

66,000

Between one and five years

264,000

264,000

In more than five years

165,000

231,000

495,000

561,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.20

31.3.19

£

£

Bank loans

-

4,474

The LLP has an overdraft facility with Barclays Bank which is secured by a debenture creating a fixed and floating charge over all assets of the LLP.

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

31.3.20

31.3.19

£

£

Amounts owed to members in respect of profits

412,309

361,805

Falling due within one year

412,309

361,805

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

10.	ULTIMATE CONTROLLING PARTY

The LLP is controlled by the members, none of whom has a individual controlling interest.