Morgan Jaxx LLP - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: OC319064 (England and Wales)

MORGAN JAXX LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Accountants' Report

7

DESIGNATED MEMBERS:

M W Morgan

Jaxx Bay Limited

REGISTERED OFFICE:

Morgans Hotel

Somerset Place

Swansea

SA1 1RR

REGISTERED NUMBER:

OC319064 (England and Wales)

ACCOUNTANTS:

Bevan & Buckland

Langdon House

Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

FIXED ASSETS

Tangible assets

3

141,315

146,293

Investment property

4

4,197,340

3,850,669

4,338,655

3,996,962

CURRENT ASSETS

Debtors

5

282,276

225,115

Cash at bank

72,088

114,893

354,364

340,008

CREDITORS

Amounts falling due within one year

6

2,618

2,217

NET CURRENT ASSETS

351,746

337,791

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

4,690,401

4,334,753

LOANS AND OTHER DEBTS DUE TO MEMBERS

-

-

MEMBERS' OTHER INTERESTS

Capital accounts

4,690,401

4,334,753

4,690,401

4,334,753

TOTAL MEMBERS' INTERESTS

Members' other interests

4,690,401

4,334,753

Amounts due from members

5

(269,256

)

(216,575

)

4,421,145

4,118,178

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 30 September 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 14 May 2018 and were signed by:

M W Morgan - Designated member

1.	STATUTORY INFORMATION

Morgan Jaxx 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.

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

-

33% on cost and 5% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in fair value is recognised in profit or loss.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

Turnover

Turnover represents rent receivable, and is accounted for on an accruals basis. Turnover relates

entirely to the principal activity of the LLP and consists entirely of sales made inthe United Kingdom.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in

operating existence for the foreseeable future. Taking this into consideration, the directors continue to

adopt the going concern basis in preparing the annual report and financial statements.

3.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2016

135,581

29,686

165,267

Additions

-

5,232

5,232

At 30 September 2017

135,581

34,918

170,499

DEPRECIATION

At 1 October 2016

-

18,974

18,974

Charge for year

-

10,210

10,210

At 30 September 2017

-

29,184

29,184

NET BOOK VALUE

At 30 September 2017

135,581

5,734

141,315

At 30 September 2016

135,581

10,712

146,293

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2016

3,850,669

Additions

346,671

At 30 September 2017

4,197,340

NET BOOK VALUE

At 30 September 2017

4,197,340

At 30 September 2016

3,850,669

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

869

869

Other debtors

281,407

224,246

282,276

225,115

Included within other debtors amounts due from members of £269,256 (2016: £216,575).

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

401

-

Other creditors

2,217

2,217

2,618

2,217

The following reproduces the text of the report prepared for the members in respect of the LLP's

annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only

required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Members are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited

Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have

prepared for your approval the financial statements of Morgan Jaxx LLP for the year ended

30 September 2017 which comprise the Income Statement, Balance Sheet and the related notes from the

LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of Morgan Jaxx LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Morgan Jaxx LLP and state those matters that we have agreed to state to the members of Morgan Jaxx LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Morgan Jaxx LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Morgan Jaxx LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Morgan Jaxx LLP. You consider that Morgan Jaxx LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Morgan Jaxx LLP. 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 statutory financial statements.

Bevan & Buckland

Langdon House

Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

14 May 2018