Chicks & Co Limited Liability Partnership Filleted accounts for Companies House (small and micro)

CHICKS & CO LIMITED LIABILITY PARTNERSHIP - Company Information

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REGISTERED NUMBER: OC391109

Chicks & Co Limited Liability Partnership

Filleted Unaudited Accounts

For

28 February 2021

Chicks & Co Limited Liability Partnership

Abridged Statement of Financial Position

28 February 2021

	2021	2020
Note	£	£

Current assets

Debtors	156,537	156,537
Cash at bank and in hand	10,544	10,544
	---------	---------
	167,081	167,081

Creditors: amounts falling due within one year	167,081	167,081

Represented by:

Loans and other debts due to members

Other amounts	–	–

Members' other interests

Members' capital classified as equity	(152,813)	(152,813)
Other reserves	–	–
	---------	---------
	(152,813)	(152,813)
	---------	---------

Total members' interests

Loans and other debts due to members	–	–
Members' other interests	(152,813)	(152,813)
	---------	---------
	(152,813)	(152,813)
	---------	---------

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the abridged statement of comprehensive income has not been delivered.

The business did not trade during the current year or prior year and has not made either a profit or loss.

For the year ending 28 February 2021 the business was entitled to exemption from audit under section 480 of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to dormant LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts .

All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 28 February 2021 in accordance with Section 444(2A) of the Companies Act 2006 as applied to limited liability partnerships by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Chicks & Co Limited Liability Partnership

Abridged Statement of Financial Position (continued)

28 February 2021

These accounts were approved by the members and authorised for issue on 15 July 2021 , and are signed on their behalf by:

Ms S Kennedy

Designated Member

Registered number: OC391109

Chicks & Co Limited Liability Partnership

Notes to the Accounts

Year ended 28 February 2021

1.	General information

The business is registered in England & Wales. The address of the registered office is 5 Thameswalk Apartments, 2 Hester Road, London, SW11 3BG, England.

2.	Statement of compliance

These accounts have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2018 (SORP 2018).

3.	Accounting policies

Basis of preparation

The accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The accounts are prepared in sterling, which is the functional currency of the entity.

Income statement

The business is dormant as defined by section 1169 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 business received no income and incurred no expenditure during the current year or prior year and therefore no income statement is presented within these accounts. There have been no movements in members funds during the current year or prior year.

Members' participation rights

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 FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the abridged statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the abridged statement of financial position.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the abridged statement of comprehensive income and are equity appropriations in the abridged 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 divisions 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 abridged statement of financial position within 'Loans and other debts due to members' and are charged to the abridged statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the abridged statement of financial position within 'Members' other interests'.