The Pear Tree Gardening LLP Accounts

THE PEAR TREE GARDENING LLP - Company Information






The Pear Tree Gardening LLP
	Registered No. OC418312
	Information for Filing with the Registrar
		31 March 2018

at	31 March 2018

Registered No.			OC418312	Notes	2018
					£
Fixed assets

	Tangible assets			2	2,600


					2,600
Current assets



	Cash at bank and in hand				71
					71
Creditors: Amounts falling due within one year				3	(300)
Net current liabilities					(229)
Total assets less current liabilities					2,371


Net assets attributable to members					2,371

Represented by:
	Loans and other debts due to members				2,245
	Members' other interests


		Other reserves			126
					126

					2,371


These accounts have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
For the period ended 31 March 2018 the LLP was entitled to exemption under section 477 of the Companies Act 2006 as applied by the Limited Liability Partnerships (Accounts and Audit)(Application of Companies Act 2006) Regulations 2008) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the members have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the members on 28 September 2018

And signed on its behalf by:

T.J. Summerfield
Designated member

for the period ended 31 March 2018

Accounting policies

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships. There were no material departures from that standard.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Members' remuneration and division of profits

Remuneration is paid to certain members under a contract of employment and is included as an expense in the profit and loss account.

In addition, the LLP agreement provides that fixed amounts, determined for each member each year, be paid to members, irrespective of the profits of the LLP. These amounts are included within members' remuneration charged as an expense.

Profits are treated as being available for discretionary division only if the the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Once agreement has been reached to divide the profits, a members' share in the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses remain included within 'other reserves'.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Members' Interests

Members' interests are classified as either equity or debt.

Equity interests comprise any capital introduced classified as equity, any unallocated profits, any revaluation reserve and any other reserves.

Loans and other debts due to members comprise any capital introduced but classified as a liability, any loans from members, amounts due to members in respect of allocated profits less drawings and any other amounts that the LLP is contractually obliged to repay to members.

Leased assets

Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Taxation

Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.

2	Tangible fixed assets
		Plant and machinery	Total
		£	£
	Cost

	Additions	3,094	3,094



	At 31 March 2018	3,094	3,094
	Depreciation

	Charge for the year	494	494



	At 31 March 2018	494	494
	Net book values
	At 31 March 2018	2,600	2,600

3	Creditors:
	amounts falling due within one year
		2018
		£	£







	Accruals and deferred income	300	-
		300	-

4	Loans and other debts due to members
		2018
		£	£
	Members' capital classified as a liability	2,245	-



		2,245	-

	Amounts falling due within one year	2,245	-

		2,245	-

Related party disclosures

Controlling party

Immediate controlling party

No single party controls the LLP.

Additional information

Its registered number is:

OC418312

Its registered office is:

7 Gatehill Gardens

Luton

Beds

LU3 4EZ