Chapel Place LLP - LLP accounts 18.1

REGISTERED NUMBER: OC328799 (England and Wales)

REPORT OF THE MEMBERS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

CHAPEL PLACE LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

T Fosberry

D Marx

T Emiantor

REGISTERED OFFICE:

Westminster House

9 Chapel Place

Rivington Street

London

EC2A 3DQ

REGISTERED NUMBER:

OC328799 (England and Wales)

ACCOUNTANTS:

Westminster Accountancy Ltd

Accountants

Westminster House

9 Chapel Place

Rivington Street

London

EC2A 3DQ

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 general business activity.

DESIGNATED MEMBERS

The designated members during the year under review were:

T Fosberry

D Marx

T Emiantor

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £128,051 (2017 - £60,455 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

T Emiantor - Designated member

14 June 2018

TURNOVER

177,148

141,916

Distribution costs

2,317

-

Administrative expenses

42,823

76,098

45,140

76,098

OPERATING PROFIT

3

132,008

65,818

Interest payable and similar expenses

3,957

5,363

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

128,051

60,455

FIXED ASSETS

Tangible assets

4

1,038,311

1,040,628

CURRENT ASSETS

Debtors

5

35,324

23,676

Cash at bank and in hand

131,320

68,994

166,644

92,670

CREDITORS

Amounts falling due within one year

6

59,631

89,714

NET CURRENT ASSETS

107,013

2,956

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,145,324

1,043,584

CREDITORS

Amounts falling due after more than one
year

7

194,898

266,300

NET ASSETS ATTRIBUTABLE TO
MEMBERS

950,426

777,284

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

612,167

439,025

MEMBERS' OTHER INTERESTS

Capital accounts

338,259

950,426

777,284

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

612,167

439,025

Members' other interests

338,259

950,426

777,284

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 14 June 2018 and were signed by:

T Emiantor - Designated member

1.	STATUTORY INFORMATION

Chapel Place 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.

3.	OPERATING PROFIT

The operating profit is stated after charging:

2018

2017

£

Depreciation - owned assets

2,317

-

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 April 2017

and 31 March 2018

1,034,302

49,629

1,083,931

DEPRECIATION

At 1 April 2017

-

43,303

Charge for year

-

2,317

At 31 March 2018

-

45,620

NET BOOK VALUE

At 31 March 2018

1,034,302

4,009

1,038,311

At 31 March 2017

1,034,302

6,326

1,040,628

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

Trade debtors

35,324

23,676

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

Trade creditors

1,300

540

Taxation and social security

8,329

15,629

Other creditors

50,002

73,545

59,631

89,714

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2018

2017

£

Other creditors

194,898

266,300

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to Members must be considered in relation to debts due to other creditors.