Shipton & Co. Direct LLP - Accounts to registrar (filleted) - small 18.2
Shipton & Co. Direct LLP - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2017 |
for |
Shipton & Co. Direct LLP |
Shipton & Co. Direct LLP (Registered number: OC372211) |
Contents of the Financial Statements |
for the Year Ended 31 December 2017 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Shipton & Co. Direct LLP |
General Information |
for the Year Ended 31 December 2017 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1,733 Coventry Road |
South Yardley |
Birmingham |
West Midlands |
B26 1DT |
Shipton & Co. Direct LLP (Registered number: OC372211) |
Balance Sheet |
31 December 2017 |
31.12.17 | 31.12.16 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
353,137 |
354,326 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
6 |
140,543 |
140,000 |
MEMBERS' OTHER INTERESTS |
Other reserves |
353,137 | 354,326 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 6 | 140,543 | 140,000 |
Members' other interests | 212,594 | 214,326 |
Amounts due from members | 4 | (213,400 | ) | (317,183 | ) |
139,737 | 37,143 |
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. |
Shipton & Co. Direct LLP (Registered number: OC372211) |
Balance Sheet - continued |
31 December 2017 |
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 |
Shipton & Co. Direct LLP (Registered number: OC372211) |
Notes to the Financial Statements |
for the Year Ended 31 December 2017 |
1. | STATUTORY INFORMATION |
Shipton & Co. Direct LLP is registered in England and Wales. The LLP's registered number and registered office |
address can be found on the General Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
There were no material departures from that standard. |
Turnover |
Revenue 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 |
Website costs | - |
Divisible profits and members' remuneration |
Members' share of profits and losses which have not been allocated until after the balance sheet date are treated |
in these financial statements as unallocated at the balance sheet date and included within equity reserves or |
deficit. |
The cash flow requirement of the LLP are taken into account when assessing the level of drawings taken by |
members |
3. | PROPERTY, PLANT AND EQUIPMENT |
Website |
costs |
£ |
COST |
At 1 January 2017 |
and 31 December 2017 |
DEPRECIATION |
At 1 January 2017 |
and 31 December 2017 |
NET BOOK VALUE |
At 31 December 2017 |
At 31 December 2016 |
Shipton & Co. Direct LLP (Registered number: OC372211) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Amounts due from members | 213,400 | 317,183 |
Prepayments and accrued income |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Social security and other taxes |
Accruals and deferred income |
6. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members rank pari passu with unsecured creditors. The legal opinion given in the |
appendix to the SORP 'Accounting for Limited Liability Partnerships' is that members' other interests rank after |
unsecured creditors. |
7. | CAPITAL COMMITMENTS |
31.12.17 | 31.12.16 |
£ | £ |
Contracted but not provided for in the |
financial statements |
Shipton & Co. Direct LLP (Registered number: OC372211) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
8. | RELATED PARTY DISCLOSURES |
Shipton & Co Direct LLP and Shipton & Co. Limited are related parties as Shipton & Co. Limited is a corporate |
member of Shipton & Co Direct LLP. |
Shipton & Co Direct LLP undertakes a number of transactions with its members in the ordinary course of |
business including the payment of drawings, distributions and tax liabilities. These transactions are all governed |
by, and made in compliance with, the Members' Agreement. |
During the period under review the company purchased goods to the value of £813,322 (2016 - £684,112) from |
Shipton & Co. Limited. |
During the year under review Shipton & Co. Limited levied a management charge on the LLP of £486,360 (2016 |
- £418,588) in respect of administration expenses incurred on behalf of this LLP. |
Included within debtors at the balance sheet date is an amount of £93,755 (2016 - £31,446 ) owed by Shipton & |
Co. Limited to Shipton & Co Direct LLP for goods and services supplied. |
Included within debtors is an amount of £213,400 (2016 - £317,183) due from Mrs. M. Beishon, a member of |
Shipton & Co. Direct LLP. |
In the year under review the Board passed a resolution to appropriate profits to the following members: |
£ |
Mrs. M. Beishon | 213,783 |
Shipton & Co. Limited | 543 |
In the opinion of the members these transactions were conducted at normal commercial rates. |
9. | POST BALANCE SHEET EVENTS |
These financial statements were authorised for issue by the members on 27 September 2018. |
. |