Absolute FM LLP - Accounts to registrar (filleted) - small 18.2
Absolute FM LLP - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2017 |
| FOR |
| ABSOLUTE FM LLP |
| ABSOLUTE FM LLP (REGISTERED NUMBER: OC340845) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2017 |
| Page |
| General Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| ABSOLUTE FM LLP |
| GENERAL INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2017 |
| DESIGNATED MEMBERS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 34-40 High Street |
| Wanstead |
| London |
| E11 2RJ |
| ABSOLUTE FM LLP (REGISTERED NUMBER: OC340845) |
| BALANCE SHEET |
| 31 DECEMBER 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS ATTRIBUTABLE TO MEMBERS |
187,056 |
122,788 |
| LOANS AND OTHER DEBTS DUE TO MEMBERS |
10 |
187,056 |
122,788 |
| TOTAL MEMBERS' INTERESTS |
| Loans and other debts due to members | 10 | 187,056 | 122,788 |
| 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. |
| 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 |
| ABSOLUTE FM LLP (REGISTERED NUMBER: OC340845) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2017 |
| 1. | STATUTORY INFORMATION |
| Absolute FM 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 |
| The LLP's functional and presentation currency is the pound sterling. |
| Revenue recognition |
| Revenue is measured at the fair value of the consideration received or receivable and represents the amount |
| receivable for goods/services supplied, net of returns, discounts and value added taxes. |
| Revenue is recognised when goods are delivered to the customer, such that the risks and rewards of |
| ownership have passed to them. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| 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. |
| 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. |
| Software costs |
| Software costs are written off in the accounting period that the expenditure is incurred. |
| Members' remuneration |
| All profits are automatically allocated to R M Elliott and G J Elliott and accounted for as an expense. |
| 3. | EMPLOYEE INFORMATION |
| The average number of employees during the year was |
| ABSOLUTE FM LLP (REGISTERED NUMBER: OC340845) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2017 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Motor | Computer |
| machinery | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 January 2017 |
| Additions |
| At 31 December 2017 |
| DEPRECIATION |
| At 1 January 2017 |
| Charge for year |
| At 31 December 2017 |
| NET BOOK VALUE |
| At 31 December 2017 |
| At 31 December 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Amounts owed by related companies |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade creditors |
| Amounts owed to related companies |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Other creditors |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2017 | 2016 |
| £ | £ |
| Within one year |
| Between one and five years |
| ABSOLUTE FM LLP (REGISTERED NUMBER: OC340845) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2017 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Close Invoice Financing | 193,720 | 400,695 |
| This amount is secured by floating charges over the LLP's book debts. The liability is repayable on demand and |
| interest is charged monthly at Bank of England Base Rate plus 1.5%. |
| 10. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
| Loans and other debts due to members rank equally with debts due to other creditors in a winding up. |
| Balances on members capital accounts are payable in full upon retirement from the LLP. There is no |
| requirement for members to contribute/subscribe any equity upon joining the LLP. |
| 11. | CONTINGENT LIABILITIES |
| The LLP had no contingent liabilities at 31 December 2017 (2016 - £Nil) other than in respect of a cross |
| guarantee in the form of a charge over the Company's assets, to the favour of the LLP's principal Bankers, |
| covering all borrowing and overdrafts by Absolute FM LLP and associated companies, Absolute Group Limited |
| and Absolutions (UK) Limited, from those banks. |
| 12. | RELATED PARTY DISCLOSURES |
| The amounts due to related parties at the balance sheet date were as follows: |
| 2017 | 2016 |
| £ | £ |
| Absolutions UK Limited | 26,661 | 8,307 |
| The amounts due from related parties at the balance sheet date were as follows: |
| 2017 | 2016 |
| £ | £ |
| Absolute Group Limited | 61,984 | 5,000 |
| Plum & Ashby LLP | 24,445 | - |
| Plum & Ashby England Limited | 101 | 29,945 |
| All the loans are interest free and repayable on demand. |
| 13. | ULTIMATE CONTROLLING PARTY |
| The limited liability partnership is controlled by R M Elliott and G J Elliott. |