Chichester Anaesthetists LLP - Period Ending 2022-03-31

Chichester Anaesthetists LLP

Contents

Limited liability partnership information	1
Accountants' Report	2
Balance Sheet	3 to 4
Statement of Changes in Members’ Interests	5
Notes to the Financial Statements	6 to 9

Chichester Anaesthetists LLP

Limited liability partnership information

Designated members

Dr Mark Russell Bentley Dr Emily Dana Dr Dr Philip McGlone

Members

Dr Sharon Avery Dr Justin Dickens Dr Cathryn Eitel Dr Rob Hill Dr Phil McDonald Michael Philip Margarson Dr Timothy Martindale Dr Ruth Ellen Prosser Rajesh Kumer Shankar Dr Christopher Smith

Registered office

Wellesley House 204 London Road Waterlooville Hampshire PO7 7AN

Accountants

MMO Limited Wellesley House 204 London Road Waterlooville Hampshire PO7 7AN

Chartered Accountants' Report to the Members on the Preparation of the Unaudited Statutory Accounts of
Chichester Anaesthetists LLP
for the Year Ended 31 March 2022

In order to assist you to fulfil your duties under the Companies Act 2006, as applied to limited liability partnerships, we have prepared for your approval the accounts of Chichester Anaesthetists LLP for the year ended 31 March 2022 set out on pages 3 to 9 from the limited liability partnership's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the members of Chichester Anaesthetists LLP, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Chichester Anaesthetists LLP and state those matters that we have agreed to state to the members of Chichester Anaesthetists LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chichester Anaesthetists LLP and its members as a body for our work or for this report.

It is your duty to ensure that Chichester Anaesthetists LLP has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Chichester Anaesthetists LLP. You consider that Chichester Anaesthetists LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Chichester Anaesthetists LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

MMO Limited
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

30 June 2022

Chichester Anaesthetists LLP

(Registration number: OC335840)
Balance Sheet as at 31 March 2022

	Note	2022  £	2021  £
Fixed assets
Tangible assets	4	-	450
Current assets
Debtors		74,195	45,840
Cash and short-term deposits		10,293	5,980
		84,488	51,820
Creditors: Amounts falling due within one year	6	(2,400)	(2,400)
Net current assets		82,088	49,420
Net assets attributable to members		82,088	49,870
Represented by:
Loans and other debts due to members
Members' capital classified as a liability		82,088	49,870
		82,088	49,870
Total members' interests
Loans and other debts due to members		82,088	49,870
		82,088	49,870

For the year ending 31 March 2022 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

The financial statements of Chichester Anaesthetists LLP (registered number OC335840) were approved by the Board and authorised for issue on 28 June 2022. They were signed on behalf of the limited liability partnership by:

Chichester Anaesthetists LLP

(Registration number: OC335840)
Balance Sheet as at 31 March 2022 (continued)

......................................... Dr Mark Russell Bentley Designated member

Chichester Anaesthetists LLP

Statement of Changes in Members’ Interests
At 31 March 2022

	Loans and other debts due to/(from) members
	Members' capital classified as a liability £	Members' other amounts £	Total debt £	Total 2022  £
Members' interest at 1 April 2021	49,870	-	49,870	49,870
Members' remuneration charged as an expense	-	725,272	725,272	725,272
Members' interests after total comprehensive income	49,870	725,272	775,142	775,142
Drawings (including tax payments)	-	(693,054)	(693,054)	(693,054)
At 31 March 2022	49,870	32,218	82,088	82,088

	Loans and other debts due to/(from) members
	Members' capital classified as a liability £	Members' other amounts £	Total debt £	Total 2021  £
Members' interest at 1 April 2020	113,283	-	113,283	113,283
Members' remuneration charged as an expense	-	264,197	264,197	264,197
Members' interests after total comprehensive income	113,283	264,197	377,480	377,480
Drawings (including tax payments)	-	(327,610)	(327,610)	(327,610)
At 31 March 2021	113,283	(63,413)	49,870	49,870

Chichester Anaesthetists LLP

Notes to the Financial Statements for the Year Ended 31 March 2022

1	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of Chichester Anaesthetists LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

Chichester Anaesthetists LLP

Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)

1	Accounting policies (continued)

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

other taxes policy

Tangible fixed assets

Individual fixed assets costing £0.00 or more are initially recorded at cost.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	33% - straight line basis

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

Current versus non-current classification

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

In the limited liability partnership balance sheet, investments in subsidiaries and associates are measured at cost less impairment.

Chichester Anaesthetists LLP

Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)

1	Accounting policies (continued)

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

2	Profit for the year before members' remuneration and profit shares

Arrived at after charging/(crediting)

	2022  £	2021  £
Depreciation	450	448

Chichester Anaesthetists LLP

Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)

3	Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 14 (2021 - 14).

4	Tangible fixed assets

	Office equipment £	Total £
Cost
At 1 April 2021	1,966	1,966
At 31 March 2022	1,966	1,966
Depreciation
At 1 April 2021	1,516	1,516
Charge for the year	450	450
At 31 March 2022	1,966	1,966
Net book value
At 31 March 2022	-	-
At 31 March 2021	450	450

5

Debtors

	2022  £	2021  £
Trade debtors	74,195	42,172
Prepayments and accrued income	-	3,668
Total current trade and other debtors	74,195	45,840

6	Creditors: Amounts falling due within one year

	2022  £	2021  £
Accruals and deferred income	2,400	2,400

7

Control

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.