Haatch Ventures LLP - LLP accounts 20.1

REGISTERED NUMBER: OC421829

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2021

FOR

HAATCH VENTURES LLP

Page

General Information

1

Report of the Members

2

Chartered Certified Accountants' Report

3

Statement of Comprehensive Income

4

Statement of Financial Position

5

Reconciliation of Members' Interests

6

Notes to the Financial Statements

8

DESIGNATED MEMBERS:

F Soneya

S Weavers-Wright

M Bennett

S Penson

REGISTERED OFFICE:

The Hub

Blackfriars Street

Stamford

PE9 2BW

REGISTERED NUMBER:

OC421829

ACCOUNTANTS:

Fortus Business Advisors & Accountants

4 Office Village

Forder Way

Cygnet Park, Hampton

Peterborough

Cambridgeshire

PE7 8GX

The members present their report with the financial statements of the LLP for the year ended 30 April 2021.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of an investment advisor

DESIGNATED MEMBERS

The designated members during the year under review were:

F Soneya

S Weavers-Wright

M Bennett

S Penson

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £181,709 (2020 - £15,438 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

F Soneya - Designated member

8 July 2021

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Haatch Ventures LLP for the year ended 30 April 2021 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Reconciliation of Members' Interests and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the members of Haatch Ventures LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Haatch Ventures LLP and state those matters that we have agreed to state to the members of Haatch Ventures LLP, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Haatch Ventures LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Haatch Ventures LLP. You consider that Haatch Ventures 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 financial statements of Haatch Ventures 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 financial statements.

Fortus Business Advisors & Accountants

4 Office Village

Forder Way

Cygnet Park, Hampton

Peterborough

Cambridgeshire

PE7 8GX

8 July 2021

TURNOVER

601,432

198,241

Cost of sales

141,169

67,353

GROSS PROFIT

460,263

130,888

Administrative expenses

282,554

115,450

177,709

15,438

Other operating income

4,000

-

OPERATING PROFIT and

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

181,709

15,438

OTHER COMPREHENSIVE INCOME

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

181,709

15,438

FIXED ASSETS

Tangible assets

5

5,516

870

CURRENT ASSETS

Debtors

6

75,287

107,386

Cash at bank

134,308

22,070

209,595

129,456

CREDITORS

Amounts falling due within one year

7

81,245

23,231

NET CURRENT ASSETS

128,350

106,225

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

133,866

107,095

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

133,771

107,000

MEMBERS' OTHER INTERESTS

Capital accounts

95

133,866

107,095

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

133,771

107,000

Members' other interests

95

Amounts due from members

6

-

(47,938

)

133,866

59,157

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 April 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 8 July 2021 and were signed by:

F Soneya - Designated member

EQUITY

Members' other interests

Members'

capital

(classified

as

Other

equity)

reserves

Total

£

Balance at 1 May 2020

95

-

95

Profit for the financial year available for discretionary
division among members

-

181,709

Members' interests after profit for the year

95

181,709

181,804

Other divisions of profit

-

(181,709

)

(181,709

)

Repayments of debt (including members' capital
classified as a liability)

-

Balance at 30 April 2021

95

-

95

DEBT

TOTAL

Loans and other debts due to

MEMBERS'

members less any amounts due

INTERESTS

from members in debtors

Other

amounts

Total

£

Amount due to members

107,000

Amount due from members

(47,938

)

Balance at 1 May 2020

59,062

59,157

Profit for the financial year available for discretionary
division among members

-

181,709

Members' interests after profit for the year

59,062

240,866

Other divisions of profit

181,709

-

Repayments of debt (including members' capital
classified as a liability)

(107,000

)

(107,000

)

Amount due to members

133,771

Amount due from members

-

Balance at 30 April 2021

133,771

133,866

EQUITY

Members' other interests

Members'

capital

(classified

as

Other

equity)

reserves

Total

£

Balance at 1 May 2019

95

-

95

Profit for the financial year available for discretionary
division among members

-

15,438

Members' interests after profit for the year

95

15,438

15,533

Other divisions of profit

-

(15,438

)

(15,438

)

Introduced by members

-

Balance at 30 April 2020

95

-

95

DEBT

TOTAL

Loans and other debts due to

MEMBERS'

members less any amounts due

INTERESTS

from members in debtors

Other

amounts

Total

£

Amount due to members

56,500

Amount due from members

(63,376

)

Balance at 1 May 2019

(6,876

)

(6,781

)

Profit for the financial year available for discretionary
division among members

-

15,438

Members' interests after profit for the year

(6,876

)

8,657

Other divisions of profit

15,438

-

Introduced by members

50,500

Amount due to members

107,000

Amount due from members

(47,938

)

Balance at 30 April 2020

59,062

59,157

1.	STATUTORY INFORMATION

Haatch Ventures LLP is a limited liability partnership registered in England and Wales. The company's registered number and registered office address are as below:

Registered Number: OC421829

Registered office: The Hub, Blackfriars Street, Stamford, Lincolnshire, United Kingdom, PE9 2BW

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Computer equipment

-

33% on cost

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEE INFORMATION

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

4.	OPERATING PROFIT

The operating profit is stated after charging:

2021

2020

£

Depreciation - owned assets

2,930

429

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 May 2020

1,299

Additions

7,576

At 30 April 2021

8,875

DEPRECIATION

At 1 May 2020

429

Charge for year

2,930

At 30 April 2021

3,359

NET BOOK VALUE

At 30 April 2021

5,516

At 30 April 2020

870

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Trade debtors

59,967

49,601

Amounts due from members

-

47,938

Other debtors

7,500

-

Prepayments

7,820

9,847

75,287

107,386

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Trade creditors

73,349

20,341

Social security and other taxes

2,564

-

Pension Control

469

-

Other creditors

(245

)

250

Accrued expenses

5,108

2,640

81,245

23,231

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up the amounts included in "Loans and advances other debts due to members" will rank equally with unsecured creditors.