Chapel Place LLP - LLP accounts 16.3

REGISTERED NUMBER: OC328799 (England and Wales)

REPORT OF THE MEMBERS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

CHAPEL PLACE LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

T Fosberry

D Marx

T Emiantor

REGISTERED OFFICE:

Westminster House

9 Chapel Place

Rivington Street

London

EC2A 3DQ

REGISTERED NUMBER:

OC328799 (England and Wales)

ACCOUNTANTS:

Westminster Accountancy Ltd

Accountants

Westminster House

9 Chapel Place

Rivington Street

London

EC2A 3DQ

The members present their report with the financial statements of the LLP for the year ended 31 March 2017.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of general business activity.

DESIGNATED MEMBERS

The designated members during the year under review were:

T Fosberry

D Marx

T Emiantor

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £60,455 (2016 - £93,400 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

T Emiantor - Designated member

11 September 2017

TURNOVER

141,916

133,923

Administrative expenses

76,098

33,695

OPERATING PROFIT

65,818

100,228

Interest payable and similar expenses

5,363

6,828

PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES

60,455

93,400

PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES

60,455

93,400

Members' remuneration charged as an
expense

3

(60,455

)

(93,400

)

PROFIT FOR THE FINANCIAL YEAR
AVAILABLE FOR DISCRETIONARY
DIVISION AMONG MEMBERS

-

FIXED ASSETS

Tangible assets

4

1,040,628

1,034,302

CURRENT ASSETS

Debtors

5

23,676

19,358

Cash at bank and in hand

68,994

83,900

92,670

103,258

CREDITORS

Amounts falling due within one year

6

89,714

85,244

NET CURRENT ASSETS

2,956

18,014

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,043,584

1,052,316

CREDITORS

Amounts falling due after more than one
year

7

266,300

335,487

NET ASSETS ATTRIBUTABLE TO
MEMBERS

777,284

716,829

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

439,025

378,570

MEMBERS' OTHER INTERESTS

Capital accounts

338,259

777,284

716,829

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

439,025

378,570

Members' other interests

338,259

777,284

716,829

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 2017.

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 of Part 15 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 small LLPs.

The financial statements were approved by the members of the LLP on 11 September 2017 and were signed by:

T Emiantor - Designated member

1.	STATUTORY INFORMATION

Chapel Place 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

3.	INFORMATION IN RELATION TO MEMBERS

2017

2016

£

Members' remuneration charged as an expense

Automatic division of profit

60,455

93,400

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 April 2016

1,034,302

43,303

1,077,605

Additions

-

6,326

At 31 March 2017

1,034,302

49,629

1,083,931

DEPRECIATION

At 1 April 2016

and 31 March 2017

-

43,303

NET BOOK VALUE

At 31 March 2017

1,034,302

6,326

1,040,628

At 31 March 2016

1,034,302

-

1,034,302

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Trade debtors

23,676

19,358

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Trade creditors

540

-

Taxation and social security

15,629

15,973

Other creditors

73,545

69,271

89,714

85,244

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2017

2016

£

Other creditors

266,300

335,487

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

The loans and other debts due to members would rank equally in relation to other creditors unless otherwise

specified.