SPi Accountancy LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC331810 (England and Wales)

Unaudited Financial Statements for the Year Ended 5 April 2021

for

SPi Accountancy LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mr S McGrail

Mr P C Hughes

REGISTERED OFFICE:

Unit 10 Tiger Court

Kings Business Park

Knowsley

Merseyside

L34 1BH

REGISTERED NUMBER:

OC331810 (England and Wales)

ACCOUNTANTS:

SPi Accountancy LLP

Unit 10 Tiger Court

Kings Business Park

Knowsley

Liverpool

Merseyside

L34 1BH

BANKERS:

Royal Bank of Scotland

1 Dale Street

Liverpool

L2 2PP

FIXED ASSETS

Tangible assets

4

516,277

513,692

CURRENT ASSETS

Debtors

5

34,377

57,508

Cash at bank

43,522

37,757

77,899

95,265

CREDITORS

Amounts falling due within one year

6

113,656

63,750

NET CURRENT (LIABILITIES)/ASSETS

(35,757

)

31,515

TOTAL ASSETS LESS CURRENT LIABILITIES

480,520

545,207

CREDITORS

Amounts falling due after more than one year

7

168,672

206,880

NET ASSETS ATTRIBUTABLE TO MEMBERS

311,848

338,327

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

311,848

338,327

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

311,848

338,327

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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 10 August 2021 and were signed by:

Mr S McGrail - Designated member

1.	STATUTORY INFORMATION

SPi Accountancy 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.

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 each asset over its estimated useful life.

Long leasehold

-

not provided

Fixtures and fittings

-

20% on cost

Computer equipment

-

50% 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 7 (2020 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 6 April 2020

510,000

7,985

9,974

527,959

Additions

-

-

4,879

4,879

At 5 April 2021

510,000

7,985

14,853

532,838

DEPRECIATION

At 6 April 2020

-

5,384

8,883

14,267

Charge for year

-

1,559

735

2,294

At 5 April 2021

-

6,943

9,618

16,561

NET BOOK VALUE

At 5 April 2021

510,000

1,042

5,235

516,277

At 5 April 2020

510,000

2,601

1,091

513,692

Included in cost of land and buildings is freehold land of £ 510,000 (2020 - £ 510,000 ) which is not depreciated.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.21

5.4.20

£

£

Trade debtors

22,493

22,486

Other debtors

11,884

35,022

34,377

57,508

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.21

5.4.20

£

£

Bank loans and overdrafts

38,208

38,208

Trade creditors

(7,941

)

3,013

Taxation and social security

18,002

21,025

Other creditors

65,387

1,504

113,656

63,750

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

5.4.21

5.4.20

£

£

Bank loans

168,672

206,880

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

15,840

54,048

8.	SECURED DEBTS

The following secured debts are included within creditors:

5.4.21

5.4.20

£

£

Bank loans

206,880

245,088

The bank loan is secured by a fixed and floating charge over all property and undertakings.

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

5.4.21

5.4.20

£

£

Amounts owed to members in respect of profits

311,848

338,327

Falling due within one year

311,848

338,327