Amaams LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC372565 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2018

FOR

AMAAMS LLP

Page

General Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

A A H Moore

A P Moore

REGISTERED OFFICE:

Kemp House

152 City Road

London

EC1V 2NX

REGISTERED NUMBER:

OC372565 (England and Wales)

ACCOUNTANTS:

Horizon Accounts Ltd

Stapleton House Second Floor

110 Clifton Street

London

EC2A 4HT

FIXED ASSETS

Tangible assets

5

-

24

CURRENT ASSETS

Debtors

4,883

1,738

Cash at bank

877

1,838

5,760

3,576

CREDITORS

Amounts falling due within one year

6

5,760

3,600

NET CURRENT LIABILITIES

-

(24

)

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET LIABILITIES ATTRIBUTABLE TO MEMBERS

-

-

LOANS AND OTHER DEBTS DUE TO MEMBERS

-

-

TOTAL MEMBERS' INTERESTS

Amounts due from members

(4,883

)

(1,738

)

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 28 February 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 and delivered 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.

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 27 November 2018 and were signed by:

A P Moore - Designated member

1.	STATUTORY INFORMATION

Amaams 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.	STATEMENT OF COMPLIANCE

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 and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

There are no significant judgements or estimates applied to the numbers contained within these financial

statements.

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

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment

losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write

off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Computer equipment - 25% on straight line

Financial instruments

The LLP has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances and investments in commercial

paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction,

where the transaction is measured at the present value of the future receipts discounted at a market rate of

interest. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective

evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount

and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The

impairment loss is recognised in the Income Statement.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised,

the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the

carrying amount would have been had the impairment not previously been recognised. The impairment reversal

is recognised in the Income Statement.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint

ventures, are initially measured at fair value, which is normally the transaction price.

Such assets are subsequently carried at fair value and the changes in fair value are recognised in, the Income

Statement, except that investments in equity instruments that are not publicly traded and whose fair values cannot

be measured reliably are measured at cost less impairment.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or

settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party

or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the

asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, loans from fellow Group companies that are

classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing

transaction, where the debt instrument is measured at the present value of the future payments discounted at a

market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Creditors are classified as current liabilities if payment is due within one year. If not,

they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and

subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is

discharged, cancelled or expires.

Going concern

The financial statements have been prepared on the going concern basis. The designated members have a

reasonable expectation that the trading performance of the LLP will continue to improve. They will continue to

provide ongoing support to the LLP so that it will be able to meet its future obligations, if and when, they

become due. It is on this basis, the designated members, are of the opinion that they should continue to adopt the

going concern basis in preparing the financial statements.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and demand deposits and other short-term highly liquid

investments that are readily convertible to a known amount of cash and are subject to an insignificant risk to

changes in value.

Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the members'

agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the

LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102, A member's

participation rights including amounts subscribed or otherwise contributed by members, for example members'

capital, are classed as liabilities unless the LLP has an unconditional right to refuse payments to members, in

which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to

members' and where such an amount relates to current year profits, they are recognised within 'Members

remuneration charged as an expense' in arriving at the relevant year's result. Undivided amounts that are

classified as equity are shown within 'Members other interests'. Amounts recoverable from members are

presented as debtors and shown as amounts due from members within members' interests.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has

an unconditional right to refuse payment, such profits are classed as appropriation of equity rather than as an

expense. They are therefore shown as a residual amount available for discretionary division among members in

the Income Statement and are equity appropriations in the Statement of Financial Position.

Other amounts applied to members, for example remuneration paid under an employment contract and interest

on capital balances, are treated in the same way as all other divisions of profits, as described above, according to

whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the Statement of Financial Position

within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members'

remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the

Statement of Financial Position within 'Members' other interests'.

4.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2017 - NIL).

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2017

and 28 February 2018

1,341

DEPRECIATION

At 1 March 2017

1,317

Charge for year

24

At 28 February 2018

1,341

NET BOOK VALUE

At 28 February 2018

-

At 28 February 2017

24

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.18

28.2.17

£

£

Other creditors

5,760

3,600

7.	LOANS AND OTHER DEBTS DUE TO MEMBERS

The members of the LLP have agreed that loans and the other debts due to members and members' other interests

including capital and reserves will rank behind all amounts due to non-members in the administration or winding

up of the LLP. This agreement cannot be revoked by the members and may be enforced by creditors.