Emerge Boat Charter LLP - LLP accounts 18.2

REGISTERED NUMBER: OC377244 (England and Wales)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 APRIL 2017 TO 30 SEPTEMBER 2018

FOR

EMERGE BOAT CHARTER LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DESIGNATED MEMBERS:

M H Fleming

Mrs T L Fleming

REGISTERED OFFICE:

Hedge House Hangersley Hill

Hangersley

Ringwood

BH24 3JW

REGISTERED NUMBER:

OC377244 (England and Wales)

ACCOUNTANTS:

Graham Latham Limited

Hedge House

Hangersley Hill

Ringwood

Hampshire

BH24 3JW

The members present their report with the financial statements of the LLP for the period 1 April 2017 to 30 September 2018.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the period under review was that of yacht chartering.

DESIGNATED MEMBERS

The designated members during the period under review were:

M H Fleming

Mrs T L Fleming

RESULTS FOR THE PERIOD AND ALLOCATION TO MEMBERS

The profit for the period before members' remuneration and profit shares was £24,537 (2017 - £35,528 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

M H Fleming - Designated member

30 November 2018

TURNOVER

80,150

176,453

Cost of sales

45,188

133,125

GROSS PROFIT

34,962

43,328

Administrative expenses

10,425

7,800

OPERATING PROFIT and

PROFIT FOR THE FINANCIAL PERIOD BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

24,537

35,528

FIXED ASSETS

Tangible assets

4

1,503,912

1,019,621

CURRENT ASSETS

Debtors

5

26,408

36,066

Cash at bank

187,226

62,406

213,634

98,472

CREDITORS

Amounts falling due within one year

6

5,565

7,470

NET CURRENT ASSETS

208,069

91,002

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,711,981

1,110,623

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

1,711,981

1,110,623

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

1,711,981

1,110,623

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 period ended 30 September 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 30 November 2018 and were signed by:

M H Fleming - Designated member

1.	STATUTORY INFORMATION

Emerge Boat Charter 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.

Plant and machinery etc

-

5% on reducing balance

3.	OPERATING PROFIT

The operating profit is stated after charging:

Period

1.4.17

to

Year Ended

30.9.18

31.3.17

£

£

Depreciation - owned assets

38,562

82,672

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

1,190,592

Additions

1,542,474

Disposals

(1,190,592

)

At 30 September 2018

1,542,474

DEPRECIATION

At 1 April 2017

170,971

Charge for period

38,562

Eliminated on disposal

(170,971

)

At 30 September 2018

38,562

NET BOOK VALUE

At 30 September 2018

1,503,912

At 31 March 2017

1,019,621

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.18

31.3.17

£

£

Trade debtors

15,375

21,600

Other debtors

11,033

14,466

26,408

36,066

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.18

31.3.17

£

£

Trade creditors

4,654

438

Taxation and social security

-

6,972

Other creditors

911

60

5,565

7,470

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank after all other creditors.