Adlams LLP - Accounts to registrar (filleted) - small 17.3
Adlams LLP - Accounts to registrar (filleted) - small 17.3
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 |
FOR |
ADLAMS LLP |
ADLAMS LLP (REGISTERED NUMBER: OC336674) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ADLAMS LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2017 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Argent House |
5 Goldington Road |
Bedford |
Bedfordshire |
MK40 3JY |
ADLAMS LLP (REGISTERED NUMBER: OC336674) |
BALANCE SHEET |
31 MARCH 2017 |
31.3.17 | 31.3.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
157,843 |
138,502 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
8 |
157,843 |
138,502 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 8 | 157,843 | 138,502 |
Amounts due from members | 5 | (6,405 | ) | (9,041 | ) |
151,438 | 129,461 |
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. |
ADLAMS LLP (REGISTERED NUMBER: OC336674) |
BALANCE SHEET - continued |
31 MARCH 2017 |
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 |
ADLAMS LLP (REGISTERED NUMBER: OC336674) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
1. | STATUTORY INFORMATION |
Adlams 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 |
Turnover |
Turnover represents net invoiced sale of services, excluding value added tax, except in respect of service |
contracts where turnover is recognised when the LLP obtains the right to consideration. |
Tangible fixed assets |
Library | - |
Long leasehold | - |
Improvements to property | - |
Fixtures and fittings | - |
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. |
Accrued income |
Accrued income is calculated by reference to individual jobs, and for each job represents all direct costs, and the |
relevant proportion of fixed and variable overheads, and estimated gross profit. |
Borrowing costs |
All borrowing costs are recognised in the profit or loss in the period in which they are incurred. |
Provisions |
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a |
result of a past event, it is probable that the company will be required to settle the obligation and the amount of |
the obligation can be reliably estimated. |
Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
ADLAMS LLP (REGISTERED NUMBER: OC336674) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
Long | to | and |
Library | leasehold | property | fittings | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 April 2016 |
and 31 March 2017 |
DEPRECIATION |
At 1 April 2016 |
Charge for year |
At 31 March 2017 |
NET BOOK VALUE |
At 31 March 2017 |
At 31 March 2016 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Trade debtors |
Amounts due from members | 6,405 | 9,041 |
Accrued income |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Bank loans and overdrafts |
Finance leases |
Trade creditors |
Social security and other taxes |
VAT | 44,675 | 55,228 |
Other creditors |
A Burden loan | - | 34,278 |
Accrued expenses |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.17 | 31.3.16 |
£ | £ |
Finance leases | 138,287 | 122,556 |
ADLAMS LLP (REGISTERED NUMBER: OC336674) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a |
winding up. |
There is no provision for specific legally enforceable protection afforded to creditors in such an event. |
There are no restrictions or limitations on the ability of the members to reduce the amount of ‘Members’ other |
interests'. |
9. | OTHER FINANCIAL COMMITMENTS |
The LLP has total guarantees and commitments at the balance sheet date of £148,064 (2016: £190,374). |
10. | ULTIMATE CONTROLLING PARTY |