Kevin Peskett Carpentry and Joinery LLP - LLP accounts 18.1

REGISTERED NUMBER: OC368762 (England and Wales)

Report of the Members and

Unaudited Financial Statements for the Year Ended 31 March 2018

for

Kevin Peskett Carpentry and Joinery LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DESIGNATED MEMBERS:

K S Peskett

Mrs R Peskett

REGISTERED OFFICE:

59a Limmer Lane

Felpham

Bognor Regis

West Sussex

PO22 7HE

REGISTERED NUMBER:

OC368762 (England and Wales)

ACCOUNTANTS:

R S Hall and Co

Dragon's Lair

27 Belle Meade Close

Woodgate

Chichester

West Sussex

PO20 3YD

The members present their report with the financial statements of the LLP for the year ended 31 March 2018.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of carpentry and joinery.

DESIGNATED MEMBERS

The designated members during the year under review were:

K S Peskett

Mrs R Peskett

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £21,887 (2017 - £42,192 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

K S Peskett - Designated member

3 May 2018

TURNOVER

75,830

100,362

Cost of sales

40,140

50,562

GROSS PROFIT

35,690

49,800

Administrative expenses

13,803

7,608

OPERATING PROFIT and

PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

21,887

42,192

FIXED ASSETS

Tangible assets

4

3,575

3,323

CURRENT ASSETS

Debtors

5

8,114

4,282

Cash at bank and in hand

1,539

16,691

9,653

20,973

CREDITORS

Amounts falling due within one year

6

5,380

6,878

NET CURRENT ASSETS

4,273

14,095

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

7,848

17,418

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

7,848

17,418

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

7,848

17,418

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 2018.

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 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.

The financial statements were approved by the members of the LLP on 3 May 2018 and were signed by:

K S Peskett - Designated member

1.	STATUTORY INFORMATION

Kevin Peskett Carpentry and Joinery 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.

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.

Plant and machinery etc

-

25% on cost

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.

3.	OPERATING PROFIT

The operating profit is stated after charging:

31.3.18

31.3.17

£

£

Depreciation - owned assets

517

324

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

7,881

Additions

769

At 31 March 2018

8,650

DEPRECIATION

At 1 April 2017

4,558

Charge for year

517

At 31 March 2018

5,075

NET BOOK VALUE

At 31 March 2018

3,575

At 31 March 2017

3,323

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

8,114

4,282

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade creditors

1,327

3,763

Taxation and social security

1,581

-

Other creditors

2,472

3,115

5,380

6,878

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

31.3.18

31.3.17

£

£

Amounts owed to members in respect of profits

7,848

17,418

Falling due within one year

7,848

17,418

Loans and other debts due to members (other than members' capital classified as debt) rank equally to other

creditors.