Sovereign 2017 LLP - LLP accounts 18.2

Sovereign 2017 LLP - LLP accounts 18.2

SOVEREIGN 2017 LLP - Company Information

Print Friendly Version

IRIS Accounts Production v18.3.0.592 OC416226 designated member 1.4.17 31.3.18 31.3.18 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureOC4162262017-03-31OC4162262018-03-31OC4162262017-04-012018-03-31OC4162262017-03-31OC416226ns15:EnglandWales2017-04-012018-03-31OC416226ns14:PoundSterling2017-04-012018-03-31OC416226ns10:Director12017-04-012018-03-31OC416226ns10:LimitedLiabilityPartnershipLLP2017-04-012018-03-31OC416226ns10:SmallEntities2017-04-012018-03-31OC416226ns10:AuditExempt-NoAccountantsReport2017-04-012018-03-31OC416226ns10:SmallCompaniesRegimeForAccounts2017-04-012018-03-31OC416226ns10:LimitedLiabilityPartnershipsSORP2017-04-012018-03-31OC416226ns10:FullAccounts2017-04-012018-03-31OC416226ns10:Director22017-04-012018-03-31OC416226ns10:RegisteredOffice2017-04-012018-03-31OC416226ns5:CurrentFinancialInstruments2018-03-31OC416226ns5:LandBuildings2017-03-31OC416226ns5:LandBuildings2018-03-31OC416226ns5:LandBuildings2017-03-31


REGISTERED NUMBER: OC416226 (England and Wales)















REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

SOVEREIGN 2017 LLP
SOVEREIGN 2017 LLP (REGISTERED NUMBER: OC416226)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


SOVEREIGN 2017 LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2018







DESIGNATED MEMBERS: D J Alcock
R J Alcock





REGISTERED OFFICE: Sovereign House
22 Shelley Road
WORTHING
West Sussex
BN11 1TU





REGISTERED NUMBER: OC416226 (England and Wales)





ACCOUNTANTS: Monetaire
Sovereign House
22 Shelley Road
WORTHING
West Sussex
BN11 1TU
1
SOVEREIGN 2017 LLP (REGISTERED NUMBER: OC416226)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2018

The members present their report with the financial statements of the LLP for the year ended 31 March 2018.

INCORPORATION
The LLP was incorporated on 4 March 2017 and commenced trading on 6 April 2017.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of

DESIGNATED MEMBERS
The designated members during the year under review were:

D J Alcock
R J Alcock

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £10,158.

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:





D J Alcock - Designated member


10 November 2018

2
SOVEREIGN 2017 LLP (REGISTERED NUMBER: OC416226)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2018

Notes £   

TURNOVER 13,050

Administrative expenses 2,899
OPERATING PROFIT 10,151

Interest receivable and similar income 7
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS



10,158

The notes form part of these financial statements

3
SOVEREIGN 2017 LLP (REGISTERED NUMBER: OC416226)

BALANCE SHEET
31 MARCH 2018

Notes £    £   
FIXED ASSETS
Tangible assets 3 700,000

CURRENT ASSETS
Cash at bank 55,932

CREDITORS
Amounts falling due within one year 4 874
NET CURRENT ASSETS 55,058
TOTAL ASSETS LESS CURRENT
LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS
755,058

LOANS AND OTHER DEBTS DUE TO
MEMBERS
5
755,058

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 5 755,058

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 March 2018.

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 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.

The financial statements were approved by the members of the LLP on 10 November 2018 and were signed by:





D J Alcock - Designated member

The notes form part of these financial statements

4
SOVEREIGN 2017 LLP (REGISTERED NUMBER: OC416226)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

1. STATUTORY INFORMATION

Sovereign 2017 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.

3. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 April 2017
and 31 March 2018 700,000
NET BOOK VALUE
At 31 March 2018 700,000
At 31 March 2017 700,000

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors (1 )
Other creditors 875
874

5. LOANS AND OTHER DEBTS DUE TO MEMBERS

Repayment of members' loans would rank after all other creditors.

5