Pocket Accounts LLP
Pocket Accounts LLP
Registered number: OC400617
Unaudited Financial Statements
For The Year Ended 31 March 2017
Pocket Accounts LLP
Member's Report and Unaudited Financial Statements
For The Year Ended 31 March 2017
Member's Report and Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Accountant's Report | 1 |
| Balance Sheet | 2—3 |
| Reconciliation of Members' Interests | 4 |
| Notes to the Financial Statements | 5—7 |
Pocket Accounts LLP
Accountant's Report
For The Year Ended 31 March 2017
Accountant's Report
In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006 as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the partners in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the partners the financial statements that we have been engaged to compile, to report to the partners that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the partnership and the partners for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 March 2017 your duty to ensure that the partnership has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
|
|
1 The Chase
John Tate Road
Hertford
Hertfordshire
SG13 7NN
Page 1
Pocket Accounts LLP
Balance Sheet
As at
31 March 2017
Balance Sheet
Registered number:
OC400617
For the year ending 31 March 2017 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLP's subject to the small LLPs regime.)
| 31 March 2017 | Period to 31 March 2016 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 7 |
|
|
||
|
|
|
||||
| CURRENT ASSETS | |||||
| Debtors | 8 |
|
|
||
| Cash at bank and in hand |
|
|
|||
|
|
|
||||
| Creditors: Amounts Falling Due Within One Year | 9 |
( |
( |
||
| NET CURRENT ASSETS (LIABILITIES) |
( |
|
|||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
|
|||
| NET ASSETS ATTRIBUTABLE TO MEMBERS |
( |
|
|||
| REPRESENTED BY: | |||||
| Loans and other debts due from members within one year | 149,006 | 85,473 | |||
| Equity | |||||
| Members' other interests | |||||
| Members' capital | 1,000 | 1,000 | |||
| Other reserves | (161,763) | (69,796) | |||
| (160,763) | (68,796) | ||||
| (11,757) | 16,677 | ||||
| TOTAL MEMBERS' INTEREST | |||||
| Loans and other debts due from members within one year | 149,006 | 85,473 | |||
| Members' other interests | (160,763) | (68,796) | |||
| (11,757) | 16,677 | ||||
Page 2
Pocket Accounts LLP
Balance Sheet (continued)
As at
31 March 2017
Member's responsibilities:
-
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. - The LLP has taken advantage of Companies Act 2006 section 444(1) and opted not to file the Profit and Loss Account
On behalf of the members
|
|
|
|
The notes on pages 5 to 7 form part of these financial statements.
Page 3
Pocket Accounts LLP
Reconciliation of Members' Interests
For The Year Ended 31 March 2017
Reconciliation of Members' Interests
Reconciliation of Members' Interests
| EQUITY | DEBT | ||||
|---|---|---|---|---|---|
| Members' other interests | Loans and other debts due to members less any amounts | ||||
| Members'Capital classified as Equity | Other Reserves | Total Equity | Members'Capital classified as Debt | Total members' interest | |
| £ | £ | £ | £ | £ | |
| Profit/(loss) for the financial year available for discretionary division among members | - |
( |
( |
- |
( |
| Members' interests after profit/(loss) for the year | - | (69,796) | (69,796) | - | (69,796) |
| Introduced by members | 1,000 | - | 1,000 | 85,473 | 86,473 |
| Amounts due to members | - | - | - | 85,473 | - |
| As at 31 March 2016 and 1 April 2016 | 1,000 | (69,796) | (68,796) | 85,473 | 16,677 |
| Balance at |
1,000 |
( |
(68,796) | - | (68,796) |
| Profit/(loss) for the financial year available for discretionary division among members | - |
( |
( |
- |
( |
| Members' interests after profit/(loss) for the year | 1,000 | (160,763) | (159,763) | - | (159,763) |
| Introduced by members | - | - | - | 149,006 | 149,006 |
| Other Movements | - | (1,000) | (1,000) | - | (1,000) |
| Amounts due to members | - | - | - | 149,006 | - |
| As at |
1,000 | (161,763) | (160,763) | 149,006 | (11,757) |
Page 4
Pocket Accounts LLP
Notes to the Unaudited Accounts
For The Year Ended 31 March 2017
Notes to the Unaudited Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in July 2014 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
1.2.
Statement of Cash Flow
The LLP has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cash flow statement on the grounds that it is a small LLP.
1.3.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the LLP, net of Value Added Tax and trade discounts.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Motor Vehicles |
|
| Computer Equipment |
|
1.5.
Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the LLP. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
1.6.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
4.
Average number of employees
Average number of employees during the year, including members, during the year was as follows:
| 31 March 2017 | Period to 31 March 2016 | ||
|---|---|---|---|
| Office and administration |
|
|
|
|
|
|
||
Page 5
Pocket Accounts LLP
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 March 2017
7.
Tangible Assets
| Motor Vehicles | Computer Equipment | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at |
|
|
|
| Additions |
|
|
|
| As at |
|
|
|
| Depreciation | |||
| As at |
|
|
|
| Provided during the period |
|
|
|
| As at |
|
|
|
| Net Book Value | |||
| As at |
|
|
|
| As at |
|
|
|
8.
Debtors
| 31 March 2017 | Period to 31 March 2016 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Prepayments and accrued income |
|
|
|
| Other debtors |
|
|
|
| Other taxes - VAT |
|
|
|
| VAT |
|
- | |
|
|
|
||
9.
Creditors: Amounts Falling Due Within One Year
| 31 March 2017 | Period to 31 March 2016 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
| Trade creditors |
|
|
|
| Other taxes and social security | - |
|
|
| Other creditors |
|
|
|
| Credit cards |
|
|
|
| Accruals and deferred income |
|
|
|
| Amounts owed to group undertakings |
|
|
|
|
|
|
||
Page 6
Pocket Accounts LLP
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 March 2017
10.
Obligations Under Finance Leases and Hire Purchase
| 31 March 2017 | Period to 31 March 2016 | ||
|---|---|---|---|
| £ | £ | ||
| The maturity of these amounts is as follows: | |||
| Amounts Payable: | |||
| Within one year |
|
|
|
|
|
|
||
|
|
|
||
11.
Ultimate Controlling Party
The LLP's ultimate controlling party is Colin Howell as designated partner and licensed practitioner.
12.
General Information
Pocket Accounts LLP Registered number OC400617 is a limited liability partnership incorporated in England & Wales. The Registered Office is 1 The Chase, John Tate Road, Hertford, Hertfordshire, SG13 7NN.
Page 7