The PR Network Partnership LLP - LLP accounts 16.3

REGISTERED NUMBER: OC403703 (England and Wales)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2017

FOR

THE PR NETWORK PARTNERSHIP LLP

Page

General Information

1

Report of the Members

2

Statement of Comprehensive Income

3

Abridged Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

Mrs G R Ellse

Ms N C Imrie

Mrs E Boydell Amos

J Read

R M Read-Barrow

REGISTERED OFFICE:

26 York Street

London

W1U 6PZ

REGISTERED NUMBER:

OC403703 (England and Wales)

ACCOUNTANTS:

CoopersElsby

Regus House

Atterbury Lakes

Fairborne Drive

Milton Keynes

Bedfordshire

MK10 9RG

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

INCORPORATION

The LLP was incorporated on 7 January 2016 and commenced trading on 1 February 2016.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of the provision of PR agency services.

DESIGNATED MEMBERS

The designated members during the year under review were:

Mrs G R Ellse

Ms N C Imrie

Mrs E Boydell Amos

J Read

R M Read-Barrow

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £37,003.

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

J Read - Designated member

28 September 2017

TURNOVER

339,252

Cost of sales

286,015

GROSS PROFIT

53,237

Administrative expenses

17,075

36,162

Other operating income

841

OPERATING PROFIT and

PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

37,003

OTHER COMPREHENSIVE INCOME

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

37,003

CURRENT ASSETS

Debtors

168,714

Cash at bank

18,861

187,575

CREDITORS

Amounts falling due within one year

186,435

NET CURRENT ASSETS

1,140

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,140

LOANS AND OTHER DEBTS DUE TO MEMBERS

1,140

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

1,140

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 January 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2017 in accordance with Section 444(2A) 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 financial statements were approved by the members of the LLP on 28 September 2017 and were signed by:

J Read - Designated member

1.	STATUTORY INFORMATION

The PR Network Partnership 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 represents net invoiced sales of goods, excluding value added tax.