Moorside Medicines Management Services LLP - Filleted accounts

Moorside Medicines Management Services LLP - Filleted accounts


Registered number
OC381522
Moorside Medicines Management Services LLP
Filleted Accounts
31 March 2021
Moorside Medicines Management Services LLP
Registered number: OC381522
Balance Sheet
as at 31 March 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 7,604 12,395
Current assets
Stocks 26,225 25,411
Debtors 4 205,323 218,272
Cash at bank and in hand 125,937 136,030
357,485 379,713
Creditors: amounts falling due within one year 5 (165,318) (127,728)
Net current assets 192,167 251,985
Total assets less current liabilities 199,771 264,380
Net assets attributable to members 199,771 264,380
Represented by:
Loans and other debts due to members 6 199,771 264,380
199,771 264,380
Total members' interests
Loans and other debts due to members 6 199,771 264,380
199,771 264,380
For the year ended 31 March 2021 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 31 July 2021 and signed on their behalf by:
Richard Reed
Designated member
Moorside Medicines Management Services LLP
Notes to the Accounts
for the year ended 31 March 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures & Fittings 20%
Motor Vehicles 20%
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2021 2020
Number Number
Average number of persons employed by the LLP 9 9
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2020 13,713 11,240 24,953
At 31 March 2021 13,713 11,240 24,953
Depreciation
At 1 April 2020 9,748 2,810 12,558
Charge for the year 1,981 2,810 4,791
At 31 March 2021 11,729 5,620 17,349
Net book value
At 31 March 2021 1,984 5,620 7,604
At 31 March 2020 3,965 8,430 12,395
4 Debtors 2021 2020
£ £
Trade debtors 190,337 182,721
Other debtors 14,986 35,551
205,323 218,272
5 Creditors: amounts falling due within one year 2021 2020
£ £
Trade creditors 161,436 123,541
Other taxes and social security costs 2,455 3,149
Other creditors 1,427 1,038
165,318 127,728
6 Loans and other debts due to members 2021 2020
£ £
Amounts due to members in respect of profits 199,771 264,380
Amounts falling due within one year 199,771 264,380
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
7 Other information
Moorside Medicines Management Services LLP is a limited liability partnership incorporated in England. Its registered office is:
16 Blundell Drive
Southport
PR8 4RG
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