Greaves Brewster LLP - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: OC307396 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

GREAVES BREWSTER LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

R R Turner

N R Wallis

J Bumke

REGISTERED OFFICE:

Copa House

Station Road

Cheddar

Somerset

BS27 3AH

REGISTERED NUMBER:

OC307396 (England and Wales)

ACCOUNTANTS:

Haines Watts Partnership (Bristol) Limited

Bath House

6-8 Bath Street

Bristol

BS1 6HL

FIXED ASSETS

Tangible assets

4

50,501

46,988

CURRENT ASSETS

Stocks

5,187

9,385

Debtors

5

846,003

627,178

Cash at bank and in hand

66,219

154,246

917,409

790,809

CREDITORS

Amounts falling due within one year

6

771,796

520,376

NET CURRENT ASSETS

145,613

270,433

TOTAL ASSETS LESS CURRENT LIABILITIES

196,114

317,421

CREDITORS

Amounts falling due after more than one year

7

98,796

115,646

NET ASSETS ATTRIBUTABLE TO MEMBERS

97,318

201,775

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

47,318

151,775

MEMBERS' OTHER INTERESTS

Capital accounts

50,000

50,000

97,318

201,775

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

47,318

151,775

Members' other interests

50,000

50,000

97,318

201,775

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP on 20 December 2017 and were signed by:

N R Wallis - Designated member

1.	STATUTORY INFORMATION

Greaves Brewster 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.

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

amounts in these financial statements are rounded to the nearest £.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 31 March 2017 are the first that are prepared in accordance with

FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date

of transition to FRS 102 Section 1A is 1 April 2015.

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.

Fixtures and fittings

-

10% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange

ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating

result.

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.

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at

the lower of the fair value of the assets and the present value of the minimum lease payments, which is

determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount

recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability

using the effective interest method. Finance charges are allocated to each period so as to produce a constant

rate of interest on the remaining balance of the liability.

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 9 (2016 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2016

41,088

31,619

49,245

121,952

Additions

-

20,328

10,791

31,119

Disposals

-

(9,500

)

-

(9,500

)

At 31 March 2017

41,088

42,447

60,036

143,571

DEPRECIATION

At 1 April 2016

19,165

11,976

43,823

74,964

Charge for year

4,030

8,490

7,486

20,006

Eliminated on disposal

-

(1,900

)

-

(1,900

)

At 31 March 2017

23,195

18,566

51,309

93,070

NET BOOK VALUE

At 31 March 2017

17,893

23,881

8,727

50,501

At 31 March 2016

21,923

19,643

5,422

46,988

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

825,633

615,801

Prepayments and accrued income

20,370

11,377

846,003

627,178

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts (see note 8)

4,619

1,826

Trade creditors

534,168

231,605

Social security and other taxes

19,995

21,293

VAT

61,309

29,882

Other creditors

49,902

49,507

Accruals and deferred income

101,803

186,263

771,796

520,376

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts (see note 8)

17,055

7,974

Other creditors

81,741

107,672

98,796

115,646

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2017

2016

£

£

Net obligations repayable:

Within one year

4,619

1,826

Between one and five years

17,055

7,974

21,674

9,800

Non-cancellable operating

leases

2017

2016

£

£

Between one and five years

961

961

In more than five years

31,000

31,000

31,961

31,961

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Hire purchase contracts

21,674

9,800

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2017

2016

£

£

Amounts owed to members in respect of profits

47,318

151,775

Falling due within one year

47,318

151,775

Upon dissolution of the partnership amounts in 'Loans and other debts due to members' would be distributed

after the discharge of all liabilities to third parties.

11.	FIRST YEAR ADOPTION

1.4.15

31.3.1

6

£

£

Total members' interests as reported under UK GAAP

299,227

151,775

Total members' interests as restated under FRS 102

299,227

151,775

2016

£

Profit before members' remuneration and discretionary division among members as reported under UK GAAP

514,744

Profit before members' remuneration and discretionary division among members as restated under FRS 102

514,744