Monthind LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC369761 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2020

for

Monthind LLP

Previously known as

Monthind Clean LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mr A C Felgate

Mr S P Biggs

REGISTERED OFFICE:

Monthind House

91 London Road

Colchester

Essex

CO6 1LG

REGISTERED NUMBER:

OC369761 (England and Wales)

ACCOUNTANTS:

Franklins

1 Pinnacle Way

Pride Park

Derby

Derbyshire

DE24 8ZS

FIXED ASSETS

Intangible assets

4

1,740,000

1,885,000

Tangible assets

5

4,986

6,233

1,744,986

1,891,233

CURRENT ASSETS

Stocks

77,618

77,026

Debtors

6

1,578,600

1,490,938

Cash at bank and in hand

7,553

16,713

1,663,771

1,584,677

CREDITORS

Amounts falling due within one year

7

1,787,613

1,661,526

NET CURRENT LIABILITIES

(123,842

)

(76,849

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,621,144

1,814,384

CREDITORS

Amounts falling due after more than one year

8

-

1,777

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,621,144

1,812,607

LOANS AND OTHER DEBTS DUE TO MEMBERS

1,621,144

1,812,607

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

1,621,144

1,812,607

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 30 April 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 24 March 2021 and were signed by:

Mr A C Felgate - Designated member

1.	STATUTORY INFORMATION

Monthind 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

Goodwill is being amortised evenly over its estimated useful life of twenty 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Government grants

Government grants received consist of amounts received in respect to the Coronavirus Job Retention Scheme.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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 805 (2019 - 815 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2019

and 30 April 2020

2,900,000

AMORTISATION

At 1 May 2019

1,015,000

Charge for year

145,000

At 30 April 2020

1,160,000

NET BOOK VALUE

At 30 April 2020

1,740,000

At 30 April 2019

1,885,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2019

and 30 April 2020

8,500

DEPRECIATION

At 1 May 2019

2,267

Charge for year

1,247

At 30 April 2020

3,514

NET BOOK VALUE

At 30 April 2020

4,986

At 30 April 2019

6,233

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 May 2019

and 30 April 2020

8,500

DEPRECIATION

At 1 May 2019

2,267

Charge for year

1,247

At 30 April 2020

3,514

NET BOOK VALUE

At 30 April 2020

4,986

At 30 April 2019

6,233

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

1,368,045

1,385,388

Other debtors

210,555

105,550

1,578,600

1,490,938

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

730,400

813,680

Hire purchase contracts

1,777

2,916

Trade creditors

229,461

213,485

Taxation and social security

514,196

426,908

Other creditors

311,779

204,537

1,787,613

1,661,526

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Hire purchase contracts

-

1,777

9.	RELATED PARTY DISCLOSURES

A partnership member with common directors / members has transacted with Monthind LLP throughout the year, all transactions were carried out on an arms length basis.

The balance outstanding at the year end on interest free loans provided to Monthind LLP from the company with common directors / members amounts to £606,498 Cr. (2019: £173,976 Cr.).

A company that is a 100% wholly owned subsidiary of a partnership member, that Mr A Felgate and Mr S Biggs are also directors, existed as a related party during the year. All transactions were carried out at arms length. The balance owed on interest free loans provided to the company at the year end was £4,142 (2019: £NIL).

On the 30th April 2020 Monthind LLP ceased to trade, with the entirety of the trade, trading assets and trading liabilities being hived up on the 1st May 2020, to a company with common members / directors and under common control.

10.	POST BALANCE SHEET EVENTS

On the 30th April 2020 Monthind LLP ceased to trade, with the entirety of the trade, trading assets and trading liabilities being hived up on the 1st May 2020, to a company with common members / directors and under common control.