AMAAMS LLP - Period Ending 2021-02-28

AMAAMS LLP

Contents

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

AMAAMS LLP

Limited liability partnership information

Designated members

Mr Alastair Moore Mrs Ashley Moore

Registered office

Unit 3 Upp Hall Farm Salmons Lane Colchester Essex CO6 1RY

Accountants

Integer Unit 3 Upp Hall Farm Salmons Lane Colchester Essex CO6 1RY

Chartered Accountants' Report to the Members on the Preparation of the Unaudited Statutory Accounts of
AMAAMS LLP
for the Year Ended 28 February 2021

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 AMAAMS LLP for the year ended 28 February 2021 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 AMAAMS 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 AMAAMS LLP and state those matters that we have agreed to state to the members of AMAAMS 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 AMAAMS LLP and its members as a body for our work or for this report.

It is your duty to ensure that AMAAMS 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 AMAAMS LLP. You consider that AMAAMS 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 AMAAMS 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.

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

Integer
Unit 3 Upp Hall Farm
Salmons Lane
Colchester
Essex
CO6 1RY

30 November 2021

AMAAMS LLP

(Registration number: OC372565)
Abridged Balance Sheet as at 28 February 2021

	Note	2021  £	2020  £
Fixed assets
Tangible assets	3	1,296	-
Current assets
Debtors		382	-
Cash and short-term deposits		6,344	11,376
		6,726	11,376
Prepayments and accrued income		5,000	5,000
Creditors: Amounts falling due within one year		-	(1,754)
Net current assets		11,726	14,622
Total assets less current liabilities		13,022	14,622
Accruals and deferred income		(1,000)	(1,000)
Net assets attributable to members		12,022	13,622
Represented by:
Members’ other interests
Members' capital classified as equity		12,022	13,622
		12,022	13,622
Total members' interests
Equity		12,022	13,622
		12,022	13,622

For the year ending 28 February 2021 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, as applied to small limited liability partnerships.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships, and the option not to file the Profit and Loss Account has been taken.

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.

AMAAMS LLP

(Registration number: OC372565)
Abridged Balance Sheet as at 28 February 2021 (continued)

All of the limited liability partnership's members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006, as applied to limited liability partnerships.

The financial statements of AMAAMS LLP (registered number OC372565) were approved by the Board and authorised for issue on 30 November 2021. They were signed on behalf of the limited liability partnership by:

......................................... Mr Alastair Moore Designated member

......................................... Mrs Ashley Moore Designated member

AMAAMS LLP

Statement of Changes in Members’ Interests
At 28 February 2021

	Equity		Loans and other debts due to/(from) members
	Members' capital £	Total £	Members' capital classified as a liability £	Total 2021  £
Members' interest at 1 March 2020	-	-	13,622	13,622
Profit for the financial year available for discretionary division among members	7,004	7,004	7,004	14,008
Members' interests after total comprehensive income	7,004	7,004	20,626	27,630
Allocated losses in respect of the prior year	(7,004)	(7,004)	-	(7,004)
Drawings (including tax payments)	-	-	(8,604)	(8,604)
At 28 February 2021	-	-	12,022	12,022

	Equity		Loans and other debts due to/(from) members
	Members' capital £	Total £	Members' capital classified as a liability £	Total 2020  £
Members' interest at 1 March 2019	-	-	7,170	7,170
Profit for the financial year available for discretionary division among members	22,490	22,490	22,490	44,980
Members' interests after total comprehensive income	22,490	22,490	29,660	52,150
Allocated losses in respect of the prior year	(22,490)	(22,490)	-	(22,490)
Members’ capital introduced	-	-	1,804	1,804
Drawings (including tax payments)	-	-	(17,842)	(17,842)
At 29 February 2020	-	-	13,622	13,622

AMAAMS LLP

Notes to the Abridged Financial Statements for the Year Ended 28 February 2021

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 abridged 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 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 abridged 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 AMAAMS 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.

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.

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 or more are initially recorded at cost.

AMAAMS LLP

Notes to the Abridged Financial Statements for the Year Ended 28 February 2021 (continued)

1	Accounting policies (continued)

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

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 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.

AMAAMS LLP

Notes to the Abridged Financial Statements for the Year Ended 28 February 2021 (continued)

1	Accounting policies (continued)

Members' interests

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

Members participation rights in the earnings or assets of the LLP are analysed between those that are from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS102, A members participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classified as liabilities unless the LLP has an unconditional right to refuse payments to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and where such an amount relates to current year profits, they are recognised within 'Members remuneration charged as an expense' in arriving at the relevant year's result. Undivided amounts that are classified as equity are shown within 'Members other interests' . Amounts recoverable from members are presented as debtors and shown as amounts due from members within members' interests.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has unconditional rights to refuse payment, such profits are classed as appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the Income Statement and are equity appropriations in the Statement of Financial Position.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other division of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the Statement of Financial Position within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of Financial Position within 'Members' other interests'.

2	Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 0 (2020 - 0).

AMAAMS LLP

Notes to the Abridged Financial Statements for the Year Ended 28 February 2021 (continued)

3	Tangible fixed assets

	Total £
Cost
At 1 March 2020	1,341
Additions	1,416
Disposals	(1,341)
At 28 February 2021	1,416
Depreciation
At 1 March 2020	1,341
Charge for the year	120
Eliminated on disposals	(1,341)
At 28 February 2021	120
Net book value
At 28 February 2021	1,296
At 29 February 2020	-

4

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.