The J S Design Partnership LLP - LLP accounts 16.3

The J S Design Partnership LLP - LLP accounts 16.3

THE J S DESIGN PARTNERSHIP LLP - Company Information

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THE J S DESIGN PARTNERSHIP LLP

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017






THE J S DESIGN PARTNERSHIP LLP (REGISTERED NUMBER: OC392311)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017










Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


THE J S DESIGN PARTNERSHIP LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2017







DESIGNATED MEMBERS: M R Jeffrey
S Acaster
A L Bean





REGISTERED OFFICE: 2 Taunton Street
Unit 5 Peel House
Shipley
West Yorkshire
BD18 3NA





REGISTERED NUMBER: OC392311 (England and Wales)





ACCOUNTANTS: Wilkinson and Partners
Chartered Accountants
Fairfax House
6a Mill Field Road
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PY
Page 1
THE J S DESIGN PARTNERSHIP LLP (REGISTERED NUMBER: OC392311)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2017


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

DESIGNATED MEMBERS
The designated members during the year under review were:

M R Jeffrey
S Acaster
A L Bean

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £248,440 (2016 - £286,888 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:





M R Jeffrey - Designated member


29 September 2017

Page 2
THE J S DESIGN PARTNERSHIP LLP (REGISTERED NUMBER: OC392311)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2017

31.3.17 31.3.16
Notes £    £   

TURNOVER 606,374 612,880

Cost of sales 66,900 75,809
GROSS PROFIT 539,474 537,071

Administrative expenses 290,296 249,753
OPERATING PROFIT 4 249,178 287,318


Interest payable and similar expenses 738 430
PROFIT FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT
SHARES AVAILABLE FOR DISCRETIONARY
DIVISION AMONG MEMBERS


248,440


286,888

The notes form part of these financial statements

Page 3
THE J S DESIGN PARTNERSHIP LLP (REGISTERED NUMBER: OC392311)

BALANCE SHEET
31 MARCH 2017

31.3.17 31.3.16
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 16,655 20,565

CURRENT ASSETS
Debtors 6 184,248 70,541
Cash at bank 48,454 73,789
232,702 144,330
CREDITORS
Amounts falling due within one year 7 29,805 20,888
NET CURRENT ASSETS 202,897 123,442
TOTAL ASSETS LESS CURRENT LIABILITIES 219,552 144,007

CREDITORS
Amounts falling due after more than one
year
8
5,667
9,667
NET ASSETS ATTRIBUTABLE TO MEMBERS 213,885 134,340

LOANS AND OTHER DEBTS DUE TO MEMBERS 213,885 134,340

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 213,885 134,340

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 notes form part of these financial statements

Page 4 continued...
THE J S DESIGN PARTNERSHIP LLP (REGISTERED NUMBER: OC392311)

BALANCE SHEET - continued
31 MARCH 2017


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 29 September 2017 and were signed by:





M R Jeffrey - Designated member

The notes form part of these financial statements

Page 5
THE J S DESIGN PARTNERSHIP LLP (REGISTERED NUMBER: OC392311)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017


1. STATUTORY INFORMATION

The J S Design 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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance
leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital
element of the future payments is treated as a liability.

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 6 .

4. OPERATING PROFIT

The operating profit is stated after charging:

31.3.17 31.3.16
£    £   
Depreciation - owned assets 5,390 3,774

Page 6 continued...
THE J S DESIGN PARTNERSHIP LLP (REGISTERED NUMBER: OC392311)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2017


5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2016 18,225 11,435 29,660
Additions - 4,897 4,897
At 31 March 2017 18,225 16,332 34,557
DEPRECIATION
At 1 April 2016 4,556 4,539 9,095
Charge for year 3,417 5,390 8,807
At 31 March 2017 7,973 9,929 17,902
NET BOOK VALUE
At 31 March 2017 10,252 6,403 16,655
At 31 March 2016 13,669 6,896 20,565

The net book value of tangible fixed assets includes £ 10,252 (2016 - £ 13,669 ) in respect of assets held under
hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.17 31.3.16
£    £   
Trade debtors 184,248 70,541

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.17 31.3.16
£    £   
Hire purchase contracts 4,000 4,000
Trade creditors 547 -
Social security and other taxes 3,584 2,666
VAT 19,782 12,522
Other creditors 142 -
Accrued expenses 1,750 1,700
29,805 20,888

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.17 31.3.16
£    £   
Hire purchase contracts 5,667 9,667

Page 7