SKF Karate LLP - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: OC412485 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 24 JUNE 2016 TO 30 JUNE 2017

FOR

SKF KARATE LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

J Cashman

L Cashman

REGISTERED OFFICE:

Swatton Barn

Badbury

Swindon

Wiltshire

SN4 0EU

REGISTERED NUMBER:

OC412485 (England and Wales)

ACCOUNTANTS:

Dennis & Turnbull

Chartered Accountants

Swatton Barn

Badbury

Swindon

Wiltshire

SN4 0EU

FIXED ASSETS

Tangible assets

3

21,596

CURRENT ASSETS

Stocks

2,000

Debtors

2,414

Cash at bank

504

4,918

CREDITORS

Amounts falling due within one year

4

13,020

NET CURRENT LIABILITIES

(8,102

)

TOTAL ASSETS LESS CURRENT LIABILITIES

13,494

CREDITORS

Amounts falling due after more than one year

5

13,494

NET LIABILITIES ATTRIBUTABLE TO MEMBERS

-

LOANS AND OTHER DEBTS DUE TO MEMBERS

-

TOTAL MEMBERS' INTERESTS

Amounts due from members

(2,414

)

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 period ended 30 June 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 9 May 2018 and were signed by:

J Cashman - Designated member

1.	STATUTORY INFORMATION

SKF Karate 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 reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

27,823

At 30 June 2017

27,823

DEPRECIATION

Charge for period

6,227

At 30 June 2017

6,227

NET BOOK VALUE

At 30 June 2017

21,596

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

3,407

Hire purchase contracts (see note 6)

9,083

Other creditors

530

13,020

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

13,494

6.	LEASING AGREEMENTS

At 30th June 2017, the company had total commitments under non-cancellable operating leases over

the remaining life of those leases of £25,529.

7.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

16,000

Hire purchase contracts

9,083

25,083