The Champagne And Gift Company LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC349195 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2017

for

The Champagne And Gift Company LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

C H Wilce

Mrs S Wilce

J Wilce

REGISTERED OFFICE:

The Retreat

406 Roding Lane South

Woodford Green

Essex

IG8 8EY

REGISTERED NUMBER:

OC349195 (England and Wales)

ACCOUNTANTS:

Nordens

The Retreat

406 Roding Lane South

Woodford Green

Essex

IG8 8EY

FIXED ASSETS

Tangible assets

4

22,476

27,735

CURRENT ASSETS

Stocks

25,926

17,159

Debtors

5

5,524

9,359

Cash at bank

2,694

7,398

34,144

33,916

CREDITORS

Amounts falling due within one year

6

37,749

20,938

NET CURRENT (LIABILITIES)/ASSETS

(3,605

)

12,978

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

18,871

40,713

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

18,871

40,713

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

18,871

40,713

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 October 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 30 July 2018 and were signed by:

Mrs S Wilce - Designated member

1.	STATUTORY INFORMATION

The Champagne And Gift Company 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.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

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.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme

are charged to profit or loss in the period to which they relate.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 4 (2016 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 November 2016

11,384

30,000

-

41,384

Additions

790

-

696

1,486

At 31 October 2017

12,174

30,000

696

42,870

DEPRECIATION

At 1 November 2016

7,649

6,000

-

13,649

Charge for year

571

6,000

174

6,745

At 31 October 2017

8,220

12,000

174

20,394

NET BOOK VALUE

At 31 October 2017

3,954

18,000

522

22,476

At 31 October 2016

3,735

24,000

-

27,735

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

£

Trade debtors

5,524

9,359

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

£

Trade creditors

30,817

13,827

Taxation and social security

2,432

5,124

Other creditors

4,500

1,987

37,749

20,938

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

31.10.17

31.10.16

£

£

Amounts owed to members in respect of profits

18,871

40,713

Falling due within one year

18,871

40,713

Equal sharing