Ugly Duckling Payroll LLP LLP accounts

Ugly Duckling Payroll LLP LLP accounts

UGLY DUCKLING PAYROLL LLP - Company Information

Print Friendly Version

false false false false false false false false false true false false false false false false false 2016-04-01 Sage Accounts Production Advanced 2017 Update 3 - FRS xbrli:pure xbrli:shares iso4217:GBP OC373367 2016-04-01 2017-03-31 OC373367 2017-03-31 OC373367 2016-03-31 OC373367 bus:RegisteredOffice 2016-04-01 2017-03-31 OC373367 bus:Director1 2016-04-01 2017-03-31 OC373367 bus:Director2 2016-04-01 2017-03-31 OC373367 core:WithinOneYear 2017-03-31 OC373367 core:WithinOneYear 2016-03-31 OC373367 bus:FRS102 2016-04-01 2017-03-31 OC373367 bus:AuditExempt-NoAccountantsReport 2016-04-01 2017-03-31 OC373367 bus:FullAccounts 2016-04-01 2017-03-31 OC373367 bus:SmallCompaniesRegimeForDirectorsReport 2016-04-01 2017-03-31 OC373367 bus:LimitedLiabilityPartnershipLLP 2016-04-01 2017-03-31
REGISTERED NUMBER: OC373367
Ugly Duckling Payroll LLP
Filleted Unaudited Financial Statements
31 March 2017
Ugly Duckling Payroll LLP
Financial Statements
Year ended 31 March 2017
Contents
Page
Members' report
1
Statement of financial position
2
Notes to the financial statements
4
Ugly Duckling Payroll LLP
Members' Report
Year ended 31 March 2017
The members present their report and the unaudited financial statements of the LLP for the year ended 31 March 2017 .
Principal activities
The principal activity of the company during the year was that of payroll services.
Designated members
The designated members who served the LLP during the year were as follows:
S Lord-Marchionne
S Kandel
Policy regarding members' drawings and the subscription and repayment of amounts subscribed or otherwise contributed by members
Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP.
New members are required to subscribe a minimum level of capital and in subsequent years members are invited to subscribe for further capital, the amounts of which is determined by the performance and seniority of those members. On retirement, capital is repaid to members.
This report was approved by the members on 18 December 2017 and signed on behalf of the members by:
S Lord-Marchionne
S Kandel
Designated Member
Designated Member
Registered office:
17 Burton Place
Castlefield
Manchester
M15 4PT
Ugly Duckling Payroll LLP
Statement of Financial Position
31 March 2017
2017
2016
Note
£
£
£
£
Current assets
Debtors
4
26,803
31,942
Cash at bank and in hand
52,490
14,065
--------
--------
79,293
46,007
Creditors: amounts falling due within one year
5
79,293
46,007
--------
--------
Net current liabilities
–
–
Represented by:
Loans and other debts due to members
Other amounts
–
–
----
----
Members' other interests
Other reserves
–
–
----
----
–
–
----
----
Total members' interests
Amounts due from members
(26,803)
(31,942)
Loans and other debts due to members
–
–
Members' other interests
–
–
--------
--------
(26,803)
(31,942)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.
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) relating to small LLPs.
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 financial statements .
Ugly Duckling Payroll LLP
Statement of Financial Position (continued)
31 March 2017
These financial statements were approved by the members and authorised for issue on 18 December 2017 , and are signed on their behalf by:
S Lord-Marchionne
S Kandel
Designated Member
Designated Member
Registered number: OC373367
Ugly Duckling Payroll LLP
Notes to the Financial Statements
Year ended 31 March 2017
1.
General information
The LLP is registered in England and Wales. The address of the registered office is 17 Burton Place, Castlefield, M15 4PT, Manchester.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in January 2017 (SORP 2017).
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 7.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
4.
Debtors
2017
2016
£
£
Other debtors
26,803
31,942
--------
--------
5. Creditors: amounts falling due within one year
2017
2016
£
£
Creditors and taxation
79,293
46,007
--------
--------
6.
Related party transactions
In the opinion of the members there is no controlling party as defined by FRS102 1a.
7.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The LLP transitioned to FRS 102 on 1 April 2015.
No transitional adjustments were required in equity or profit or loss for the year.