Essex_Medicare_LLP - Accounts

The principal activity of the limited liability partnership continued to be that of the provision of facilities and administration support.

The designated members who held office during the year and up to the date of signature of the financial statements were as follows:

The members are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice. Under company law (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the limited liability partnership and of the profit or loss of the limited liability partnership for that period. In preparing these financial statements, the members are required to:

• select suitable accounting policies and then apply them consistently;

• make judgements and accounting estimates that are reasonable and prudent;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the limited liability partnership will continue in business.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Essex Medicare LLP for the year ended 31 January 2018 which comprise the Statement of Total Comprehensive Income, the Balance Sheet, the Reconciliation of Members' Interests and the related notes from the limited liability partnership’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/membershandbook.

This report is made solely to the limited liability partnership's members of Essex Medicare LLP, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Essex Medicare LLP and state those matters that we have agreed to state to the limited liability partnership's members of Essex Medicare LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed as icaew.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Essex Medicare LLP and its members as a body, for our work or for this report.

We have not been instructed to carry out an audit or a review of the financial statements of Essex Medicare LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

For the financial year ended 31 January 2018 the limited liability partnership was entitled to exemption from audit 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).

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

Essex Medicare LLP is a limited liability partnership incorporated in England and Wales. The registered office is Orbital House, 20 Eastern Road, Romford, Essex, RM1 3PJ.

The limited liability partnership's principal activities are disclosed in the Members' Report.

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in January 2017, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

At the time of approving the financial statements, the members have a reasonable expectation that the limited liability partnership has adequate resources to continue in operational existence for the foreseeable future. Thus the members continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover represents amounts receivable for the provision of serviced medical facilities and administration support. Rent received from the building, under operating leases, is also included in turnover.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

All of the company's financial assets and liabilities are basic and measured at amortised cost.

Equity instruments issued by the limited liability partnership are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the limited liability partnership.

The average number of persons (excluding members) employed by the partnership during the year was 8 (2017: 10).

Bank loans and overdrafts are secured by a guarantee and debenture. This is a fixed and floating charge over the undertaking and all property assets, present and future, including goodwill, book debts, uncalled capital, buildings, fixtures and fixed plant and machinery.

A legal charge also exists over the freehold property owned by the Limited Liability Partnership.