Arley Partnership LLP - LLP accounts 20.1

REGISTERED NUMBER: OC305591 (England and Wales)

Report of the Members and

Unaudited Financial Statements

for the Year Ended 31 March 2021

for

Arley Partnership LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DESIGNATED MEMBERS:

P C Woods

P A Carr

REGISTERED OFFICE:

8 Winmarleigh Street

Warrington

Cheshire

WA1 1JW

REGISTERED NUMBER:

OC305591 (England and Wales)

ACCOUNTANTS:

Voisey & Co LLP

Chartered Accountants

8 Winmarleigh Street

Warrington

Cheshire

WA1 1JW

The members present their report with the financial statements of the LLP for the year ended 31 March 2021.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of the provision of consultancy services.

DESIGNATED MEMBERS

The designated members during the year under review were:

P C Woods

P A Carr

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £NIL (2020 - £NIL profit).

MEMBERS' INTERESTS

All members are salaried members. A member may draw salary and undrawn distributions at any time. A distribution of allocatable profits may be made by agreement between the members at any time. Before making such a distribution members are required to review the financial needs of the LLP. Members have not been required to subscribe capital at this time in the development of the business.

ON BEHALF OF THE MEMBERS:

P A Carr - Designated member

29 September 2021

TURNOVER

-

OPERATING PROFIT and

PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS

-

FIXED ASSETS

Intangible assets

4

897

Tangible assets

5

-

897

CURRENT ASSETS

Debtors

6

159,876

CREDITORS

Amounts falling due within one year

7

160,773

NET CURRENT LIABILITIES

(897

)

(897

)

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET LIABILITIES ATTRIBUTABLE TO
MEMBERS

-

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

TOTAL MEMBERS' INTERESTS

Amounts due from members

6

(155,889

)

(155,889

)

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 2021.

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 in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 29 September 2021 and were signed by:

P A Carr - Designated member

1.	STATUTORY INFORMATION

Arley Partnership 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.

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.

Development costs are being amortised evenly over their estimated useful life of nil years.

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

-

20% on cost

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2020 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2020

and 31 March 2021

897

NET BOOK VALUE

At 31 March 2021

897

At 31 March 2020

897

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2020

and 31 March 2021

10,113

DEPRECIATION

At 1 April 2020

and 31 March 2021

10,113

NET BOOK VALUE

At 31 March 2021

-

At 31 March 2020

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Trade debtors

3,987

Amounts due from members

155,889

159,876

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Bank loans and overdrafts

24,996

Trade creditors

3,738

Amounts owed to participating interests

112,320

Social security and other taxes

10,093

Other creditors

6,876

Accruals and deferred income

2,750

160,773