EARLDOM TRANSPORT LLP Small abridged accounts

EARLDOM TRANSPORT LLP - Company Information

0 false false false false false false false false false true false false false false false false false 2016-04-06 Sage Accounts Production Advanced 2017 Update 2 - FRS xbrli:pure xbrli:shares iso4217:GBP OC400737 2016-04-06 2017-04-05 OC400737 2017-04-05 OC400737 2015-04-06 2016-04-05 OC400737 2016-04-05 OC400737 bus:Director6 2016-04-06 2017-04-05 OC400737 bus:Director7 2016-04-06 2017-04-05 OC400737 bus:Director8 2016-04-06 2017-04-05 OC400737 bus:Director9 2016-04-06 2017-04-05 OC400737 bus:Director10 2016-04-06 2017-04-05 OC400737 core:WithinOneYear 2016-04-05 OC400737 bus:FRS102 2016-04-06 2017-04-05 OC400737 bus:AuditExempt-NoAccountantsReport 2016-04-06 2017-04-05 OC400737 bus:AbridgedAccounts 2016-04-06 2017-04-05 OC400737 bus:SmallCompaniesRegimeForDirectorsReport 2016-04-06 2017-04-05 OC400737 bus:LimitedLiabilityPartnershipLLP 2016-04-06 2017-04-05

Statement of Consent to Prepare Financial Statements

All of the members of EARLDOM TRANSPORT LLP have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 5 April 2017 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.

REGISTERED NUMBER: OC400737

EARLDOM TRANSPORT LLP

Unaudited Financial Statements

5 April 2017

EARLDOM TRANSPORT LLP

Financial Statements

Year ended 5 April 2017

Contents	Page

Members' report	1

Abridged statement of comprehensive income	2

Abridged statement of financial position	3

Reconciliation of members' interests	4

Notes to the financial statements	6

The following pages do not form part of the financial statements

Detailed abridged income statement	10

Notes to the detailed abridged income statement	11

EARLDOM TRANSPORT LLP

Members' Report

Year ended 5 April 2017

The members present their report and the unaudited financial statements of the LLP for the year ended 5 April 2017 .

Principal activities

TRANSPORT & LOGISTICS

Designated members

The designated members who served the LLP during the year were as follows:

Mr M CAMA
D DIMITROV
Mr I A HOSU
Mr A WILKINSON
Mr M WILLIAMSON

Policy regarding members' drawings and the subscription and repayment of amounts subscribed or otherwise contributed by members

Members are permitted to make drawings in relation to the profits allocated to them which are subjected to deduction on PAYE & National Insurance on payment.

This report was approved by the members on 1 August 2017 and signed on behalf of the members by:

Designated member

Registered office:

EARLDOM TRANSPORT LLP

Abridged Statement of Comprehensive Income

Year ended 5 April 2017

	2017	2016
Note	£	£
Gross profit	9,215	23,914

Administrative expenses	9,215	23,914

	----	----
Result for the financial year before members' remuneration and profit shares available for discretionary division among members	–	–
	----	----

All the activities of the LLP are from continuing operations.

EARLDOM TRANSPORT LLP

Abridged Statement of Financial Position

5 April 2017

	2017		2016
Note	£	£	£

Current assets

Debtors	( 488)	( 554)
Cash at bank and in hand	488	1,447
	----	-------
	–	893

Creditors: amounts falling due within one year	–		893

Represented by:

Loans and other debts due to members

Other amounts	–	–
	----	----

Members' other interests

Other reserves	–	–
	----	----
	–	–
	----	----

Total members' interests

Loans and other debts due to members	–	–
Members' other interests	–	–
	----	----
	–	–
	----	----

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

For the year ending 5 April 2017 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small 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 financial statements .

These financial statements were approved by the members and authorised for issue on 1 August 2017 , and are signed on their behalf by:

Alan Wilkinson

Member

Registered number: OC400737

EARLDOM TRANSPORT LLP

Reconciliation of Members' Interests

Year ended 5 April 2017

	Members' other interests		Total members' interests
	Other reserves	Total	Total 2017
	£	£	£
Balance at 6 April 2016	–	–	–
Profit for the financial year available for discretionary division among members	–	–	–
	----	----	----
Members' interests after profit for the year	–	–	–

EARLDOM TRANSPORT LLP

Reconciliation of Members' Interests (continued)

Year ended 5 April 2017

	Members' other interests		Total members' interests
	Other reserves	Total	Total 2016
	£	£	£
Balance at 6 April 2015	–	–	–
Profit for the financial year available for discretionary division among members	–	–	–
	----	----	----
Balance at 5 April 2016	–	–	–
	----	----	----

EARLDOM TRANSPORT LLP

Notes to the Financial Statements

Year ended 5 April 2017

1.	General information

The LLP is registered in .

2.	Statement of compliance

These financial statements 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 January 2017 (SORP 2017).

3.	Accounting policies

Basis of preparation

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

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 6 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 5.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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'.

Financial instruments

A financial asset or a financial liability is recognised only when the LLP becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4.	Particulars of employees

The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to Nil (2016: Nil).

5.	Transition to FRS 102

These are the first financial statements that comply with FRS 102. The LLP transitioned to FRS 102 on 6 April 2015.

No transitional adjustments were required in equity or profit or loss for the year.

EARLDOM TRANSPORT LLP

Management Information

Year ended 5 April 2017

The following pages do not form part of the financial statements.

EARLDOM TRANSPORT LLP

Detailed Abridged Income Statement

Year ended 5 April 2017

	2017	2016
	£	£
Turnover	9,144	23,863

Other operating income	71	51

	-------	--------
Gross profit	9,215	23,914

Overheads

Administrative expenses	9,215	23,914

	-------	--------
Operating profit	–	–

	-------	--------
Result for the financial year before members' remuneration and profit shares available for discretionary division among members	–	–
	-------	--------

Split of profit:

EARLDOM TRANSPORT LLP

Notes to the Detailed Abridged Income Statement

Year ended 5 April 2017

	2017	2016
	£	£

Other operating income

Other operating income	71	51
	----	----

Administrative expenses

Wages and salaries	6,754	14,277
Sundry expenses	2,390	9,586
Bank charges	71	51
	-------	--------
	9,215	23,914
	-------	--------