GMJL Management LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC411445 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2020

for

GMJL Management LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

A M Dobinson

D J Delaney

REGISTERED OFFICE:

Virginia House

Level 2

56 Warwick Road

Solihull

West Midlands

B92 7HX

REGISTERED NUMBER:

OC411445 (England and Wales)

ACCOUNTANTS:

James, Stanley & Co. Limited

1,733 Coventry Road

South Yardley

Birmingham

West Midlands

B26 1DT

FIXED ASSETS

Property, plant and equipment

5

5,250

-

CURRENT ASSETS

Debtors

6

1,536

1,636

Cash at bank

480

325

2,016

1,961

CREDITORS

Amounts falling due within one year

7

32,674

26,457

NET CURRENT LIABILITIES

(30,658

)

(24,496

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(25,408

)

(24,496

)

CREDITORS

Amounts falling due after more than one
year

8

734

-

NET LIABILITIES ATTRIBUTABLE TO
MEMBERS

(26,142

)

(24,496

)

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

MEMBERS' OTHER INTERESTS

Capital accounts

100

Other reserves

(26,242

)

(24,596

)

(26,142

)

(24,496

)

TOTAL MEMBERS' INTERESTS

Members' other interests

(26,142

)

(24,496

)

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 June 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 18 March 2021 and were signed by:

D J Delaney - Designated member

1.	STATUTORY INFORMATION

GMJL Management 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.	STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

In the year ended 30 June 2020 the partnership reported a loss of £1,646 and had net current liabilities at the balance sheet date of £30,658, however the members are confident that the partnership will be able to operate within its agreed banking facilities in the forthcoming year.

The members consider, in preparing these financial statements, that they have taken into account all information that could reasonably be expected to be available when considering whether the partnership is a going concern. As a result, the members consider that it is appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would arise should the partnership be unable to continue trading.

Turnover

Turnover represents invoiced sales of services provided.

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.

Motor vehicles

-

25% on reducing balance

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.

Divisible profits and members' remuneration

Trading profits and losses of the LLP are divided and borne by the members in the proportions as set out in the members' agreement and shall be theirs as of right unless otherwise agreed from time to time.

The cash flow requirement of the LLP is taken into account when assessing the level of drawings taken by members.

4.	EMPLOYEE INFORMATION

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

5.	PROPERTY, PLANT AND EQUIPMENT

Motor

vehicles

£

COST

Additions

7,000

At 30 June 2020

7,000

DEPRECIATION

Charge for year

1,750

At 30 June 2020

1,750

NET BOOK VALUE

At 30 June 2020

5,250

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

Motor

vehicles

£

COST

Additions

7,000

At 30 June 2020

7,000

DEPRECIATION

Charge for year

1,750

At 30 June 2020

1,750

NET BOOK VALUE

At 30 June 2020

5,250

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

Trade debtors

1,536

Other debtors

-

100

1,536

1,636

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

Hire purchase contracts

1,656

-

Trade creditors

1,380

600

Social security and other taxes

437

Other creditors

27,401

23,980

Accruals and deferred income

1,800

1,440

32,674

26,457

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

30.6.20

30.6.19

£

Hire purchase contracts

734

-

9.	CAPITAL COMMITMENTS

30.6.20

30.6.19

£

Contracted but not provided for in the

financial statements

-

10.	RELATED PARTY DISCLOSURES

As at the balance sheet date, GMJL Management LLP owed £27,401 to a group undertaking by way of a loan.

This loan is unsecured and interest free with no specific repayment terms.

11.	POST BALANCE SHEET EVENTS

These financial statements were authorised for issue by the designated members on 18 March 2021.

GMJL Management LLP - Accounts to registrar (filleted) - small 18.2

GMJL Management LLP - Accounts to registrar (filleted) - small 18.2