Cavendish House Recruitment LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC344995 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

FOR

CAVENDISH HOUSE RECRUITMENT LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

J P Fuge

N A Hester

S J Mallaband

Mrs F C W Hester

Mrs A C Mallaband

REGISTERED OFFICE:

Wessex House

4 Greystoke Business Centre

High Street

Portishead

BS20 6PY

REGISTERED NUMBER:

OC344995 (England and Wales)

CURRENT ASSETS

Debtors

6

136,945

228,155

Cash at bank and in hand

391,267

402,954

528,212

631,109

CREDITORS

Amounts falling due within one year

7

160,726

213,437

NET CURRENT ASSETS

367,486

417,672

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

367,486

417,672

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

191,945

222,454

MEMBERS' OTHER INTERESTS

Capital accounts

175,541

195,218

367,486

417,672

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

191,945

222,454

Members' other interests

175,541

195,218

367,486

417,672

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 17 December 2020 and were signed by:

J P Fuge - Designated member

1.	STATUTORY INFORMATION

Cavendish House Recruitment 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of three years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Intangible assets other than goodwill

The intangible assets shown on the balance sheet consist mainly of trademarks acquired by LLP.

Acquired trademarks are carried at cost less accumulated amortisation and impairment.

Trademarks are amortised on a straight-line basis over their remaining useful lives, consistent with the pattern of economic benefits expected to be received, which do not exceed 20 years. Any impairments of trademarks are recognised in the profit and loss account but any increases in trademark values are not recognised.

Tangible fixed assets

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

Fixtures and fittings

-

at varying rates on cost

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.

Members interests

Members' participation rights in the earning or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP. Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense to the Profit and Loss account in the relevant year. To the extent they remain unpaid at the year end, they are shown as liabilities in the Balance Sheet.

Conversely, where profits are divided only after a decision by the LLP or it's representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the Profit and Loss Account and are equity appropriations in the Balance Sheet.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same was as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members are classified as liabilities and are presented in the Balance Sheet with 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Balance Sheet within 'Members' other interests'.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 18 (2019 - 18 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 April 2019

and 31 March 2020

25,000

1,000,000

1,025,000

AMORTISATION

At 1 April 2019

and 31 March 2020

25,000

1,000,000

1,025,000

NET BOOK VALUE

At 31 March 2020

-

-

-

At 31 March 2019

-

-

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2019

and 31 March 2020

3,000

DEPRECIATION

At 1 April 2019

and 31 March 2020

3,000

NET BOOK VALUE

At 31 March 2020

-

At 31 March 2019

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

116,952

190,861

Other debtors

19,993

37,294

136,945

228,155

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

8,502

28,306

Taxation and social security

63,286

86,588

Other creditors

88,938

98,543

160,726

213,437

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up, amounts due to members may be set-off against amounts due from members but would otherwise rank (with individual members' capital) after unsecured creditors.

9.	ULTIMATE CONTROLLING PARTY

The members consider there to be no ultimate controlling party as at the balance sheet date.