Gane Jackson Scott Llp - Accounts to registrar - small 17.2

REGISTERED NUMBER: OC342597 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

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:

Second Floor, Kestrel House

Falconry Court

Bakers Lane

Epping

Essex

CM16 5BD

REGISTERED NUMBER:

OC342597 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

92,613

103,277

92,613

103,277

CURRENT ASSETS

Debtors

6

492,423

492,862

Cash at bank and in hand

22,952

25,629

515,375

518,491

CREDITORS

Amounts falling due within one year

7

100,913

115,312

NET CURRENT ASSETS

414,462

403,179

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

507,075

506,456

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

447,075

446,456

MEMBERS' OTHER INTERESTS

Capital accounts

60,000

60,000

507,075

506,456

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

447,075

446,456

Members' other interests

60,000

60,000

507,075

506,456

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 and delivered 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.

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 on 27 October 2017 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 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.

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.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 17 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

180,504

AMORTISATION

At 1 April 2016

and 31 March 2017

180,504

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2016

38,778

83,748

45,099

167,625

Additions

-

1,247

4,279

5,526

Disposals

-

-

(3,102

)

(3,102

)

At 31 March 2017

38,778

84,995

46,276

170,049

DEPRECIATION

At 1 April 2016

2,908

18,926

42,514

64,348

Charge for year

3,878

8,889

3,423

16,190

Eliminated on disposal

-

-

(3,102

)

(3,102

)

At 31 March 2017

6,786

27,815

42,835

77,436

NET BOOK VALUE

At 31 March 2017

31,992

57,180

3,441

92,613

At 31 March 2016

35,870

64,822

2,585

103,277

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

256,710

273,795

Bad Debt Provision

(13,765

)

(22,035

)

Client Reclaimable

8,574

3,136

Amounts recoverable on contract

185,691

178,544

Prepayments

55,213

59,422

492,423

492,862

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

1,255

4,480

Social security and other taxes

6,108

13,859

VAT

85,903

88,793

Accruals and deferred income

7,647

8,180

100,913

115,312

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2017

2016

£

£

Amounts owed to members in respect of profits

338,284

338,773

Taxation provision accounts

108,791

107,683

447,075

446,456

Falling due within one year

447,075

446,456

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.

9.	FIRST YEAR ADOPTION

This is the first year in which the financial statements have been prepared under the Financial

Reporting Standard 102. The transition to this new accounting standard has not had any effect on the

amounts disclosed in either the current or preceding accounting periods.