Gane Jackson Scott Llp - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC342597 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

GANE JACKSON SCOTT LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

M J Dewhurst

G R O'Malley

P J Thain

REGISTERED OFFICE:

42 Rainsford Road

Stansted

Essex

CM24 8EA

REGISTERED NUMBER:

OC342597 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

-

54,906

-

54,906

CURRENT ASSETS

Debtors

6

173,668

514,129

Cash at bank and in hand

35,253

49,595

208,921

563,724

CREDITORS

Amounts falling due within one year

7

60,921

189,057

NET CURRENT ASSETS

148,000

374,667

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

148,000

429,573

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

88,000

369,573

MEMBERS' OTHER INTERESTS

Capital accounts

60,000

60,000

148,000

429,573

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

88,000

369,573

Members' other interests

60,000

60,000

148,000

429,573

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 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 17 December 2021 and were signed by:

M J Dewhurst - Designated member

G R O'Malley - Designated member

1.	STATUTORY INFORMATION

Gane Jackson Scott Llp is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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.

Goodwill

Acquired goodwill is written off in equal instalments over its estimated useful life of 10 years.

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.

Tangible fixed assets

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2020 - 16 ).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

180,504

Disposals

(180,504

)

At 31 March 2021

-

AMORTISATION

At 1 April 2020

180,504

Eliminated on disposal

(180,504

)

At 31 March 2021

-

NET BOOK VALUE

At 31 March 2021

-

At 31 March 2020

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2020

38,778

84,624

35,398

158,800

Disposals

(38,778

)

(84,624

)

(35,398

)

(158,800

)

At 31 March 2021

-

-

-

-

DEPRECIATION

At 1 April 2020

18,420

50,944

34,530

103,894

Eliminated on disposal

(18,420

)

(50,944

)

(34,530

)

(103,894

)

At 31 March 2021

-

-

-

-

NET BOOK VALUE

At 31 March 2021

-

-

-

-

At 31 March 2020

20,358

33,680

868

54,906

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

127,316

393,607

Bad Debt Provision

(10,869

)

(9,249

)

Client Reclaimable

1,771

-

Amounts recoverable on contract

48,783

68,506

Prepayments

6,667

61,265

173,668

514,129

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

30,996

30,894

Social security and other taxes

-

11,407

VAT

19,059

104,263

Accruals and deferred income

10,866

42,493

60,921

189,057

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2021

2020

£

£

Amounts owed to members in respect of profits

88,000

324,024

Taxation provision accounts

-

45,549

88,000

369,573

Falling due within one year

88,000

369,573

Loans and other debts due to members may be set-off against any amounts due from members included in debtors but would otherwise rank as unsecured creditors.