Gane Jackson Scott Llp - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC342597 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

GANE JACKSON SCOTT LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

M J Dewhurst

G R O'Malley

P J Thain

REGISTERED OFFICE:

42 Rainsford Road

Stansted

Essex

CM24 8EA

REGISTERED NUMBER:

OC342597 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

54,906

66,477

54,906

66,477

CURRENT ASSETS

Debtors

6

514,129

442,503

Cash at bank and in hand

49,595

12,096

563,724

454,599

CREDITORS

Amounts falling due within one year

7

189,057

98,384

NET CURRENT ASSETS

374,667

356,215

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

429,573

422,692

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

369,573

362,692

MEMBERS' OTHER INTERESTS

Capital accounts

60,000

60,000

429,573

422,692

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

369,573

362,692

Members' other interests

60,000

60,000

429,573

422,692

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 16 January 2021 and were signed by:

M J Dewhurst - Designated member

G R O'Malley - Designated member

1.	STATUTORY INFORMATION

Gane Jackson Scott 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.

Goodwill

Acquired goodwill is written off in equal instalments over its estimated useful life of 10 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.

Tangible fixed assets

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

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.

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 16 (2019 - 17 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

180,504

AMORTISATION

At 1 April 2019

and 31 March 2020

180,504

NET BOOK VALUE

At 31 March 2020

-

At 31 March 2019

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2019

and 31 March 2020

38,778

84,624

35,398

158,800

DEPRECIATION

At 1 April 2019

14,542

44,409

33,372

92,323

Charge for year

3,878

6,535

1,158

11,571

At 31 March 2020

18,420

50,944

34,530

103,894

NET BOOK VALUE

At 31 March 2020

20,358

33,680

868

54,906

At 31 March 2019

24,236

40,215

2,026

66,477

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

393,607

192,176

Bad Debt Provision

(9,249

)

(6,834

)

Client Reclaimable

-

1,533

Amounts recoverable on contract

68,506

200,474

Prepayments

61,265

55,154

514,129

442,503

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

30,894

(122

)

Social security and other taxes

11,407

11,229

VAT

104,263

83,221

Accruals and deferred income

42,493

4,056

189,057

98,384

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2020

2019

£

£

Amounts owed to members in respect of profits

324,024

306,079

Taxation provision accounts

45,549

56,613

369,573

362,692

Falling due within one year

369,573

362,692

Loans and other debts due to members may be set-off against any amounts due from members included in debtors but would otherwise rank as unsecured creditors.