THP Tax Solutions LLP - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: OC342631 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

THP TAX SOLUTIONS LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DESIGNATED MEMBERS:

A C Hart FCA

T M Housden ATT

THP Limited

REGISTERED OFFICE:

34-40 High Street

Wanstead

London

E11 2RJ

REGISTERED NUMBER:

OC342631 (England and Wales)

FIXED ASSETS

Tangible assets

4

12,729

16,972

CURRENT ASSETS

Debtors

5

30,783

48,849

Cash at bank and in hand

12,572

50,195

43,355

99,044

CREDITORS

Amounts falling due within one year

6

33,023

91,857

NET CURRENT ASSETS

10,332

7,187

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

23,061

24,159

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

23,061

24,159

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

23,061

24,159

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 Income Statement has not been delivered.

The financial statements were approved by the members of the LLP on 19 March 2018 and were signed by:

T M Housden ATT - Designated member

A C Hart FCA - Designated member

1.	STATUTORY INFORMATION

THP Tax Solutions LLP is registered in England and Wales. The LLP's registered number and registered office

address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Revenue recognition

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life.

Plant and machinery etc - 25% on reducing balance

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet and

depreciated over their estimated useful lives.

The interest element of these obligations is charged to the profit and loss account over the relevant period.

The capital element of the future payments is treated as a liability.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2016 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

and 31 March 2017

47,237

DEPRECIATION

At 1 April 2016

30,265

Charge for year

4,243

At 31 March 2017

34,508

NET BOOK VALUE

At 31 March 2017

12,729

At 31 March 2016

16,972

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

30,371

41,304

Amounts owed by associated business

-

7,186

Other debtors

412

359

30,783

48,849

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

297

-

Amounts owed to associated business

28,500

79,250

Taxation and social security

2,865

11,246

Other creditors

1,361

1,361

33,023

91,857

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members are ranked after other creditors.

8.	RELATED PARTY DISCLOSURES

During the year the LLP was charged £6,000 (31 March 2016: £12,000) in respect of the provision of

accounting services by THP Limited, a company in which A C Hart, T M Housden and K C Pullen are directors

and shareholders.

During the year £5,250 (31 March 2016: £67,250) was paid to THP Limited in respect of management fees.

At the year end £28,500 was owed to THP Limited (31 March 2016: £79,250).

At the year end £nil (31 March 2016: £7,186) was owed by THP Wealth Structuring LLP, a business in which A

C Hart, T M Housden and THP Limited have an interest.

9.	ULTIMATE CONTROLLING PARTY

The LLP is under the control of AC Hart and T M Housden.

10.	FIRST YEAR ADOPTION

This is the first year that the LLP has presented its results under FRS 102 Section 1A. The last financial

statements under UK GAAP were for the year ended 31 March 2016. The date of transition to FRS 102 was 1

April 2015. There have been no significant changes in accounting policies as the result of transition to FRS 102

and the comparative figures are unchanged.