P Waddington & Co LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC378428 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2018

for

P Waddington & Co LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

W M Waddington

S N Waddington

P Waddington Limited

REGISTERED OFFICE:

The Refinery

Buck Street

Bradford

West Yorkshire

BD3 9LP

REGISTERED NUMBER:

OC378428 (England and Wales)

ACCOUNTANTS:

Franklin Underwood

1 Pinnacle Way

Pride Park

Derby

Derbyshire

DE24 8ZS

FIXED ASSETS

Tangible assets

4

63,497

72,097

CURRENT ASSETS

Stocks

3,971

1,213

Debtors

5

1,676,361

2,555,123

Cash at bank and in hand

367,893

261,942

2,048,225

2,818,278

CREDITORS

Amounts falling due within one year

6

1,287,186

977,756

NET CURRENT ASSETS

761,039

1,840,522

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

824,536

1,912,619

LOANS AND OTHER DEBTS DUE TO MEMBERS

824,536

1,912,619

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

824,536

1,912,619

Amounts due from members

5

(407,100

)

(1,527,387

)

417,436

385,232

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 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 28 November 2018 and were signed by:

W M Waddington - Designated member

1.	STATUTORY INFORMATION

P Waddington & Co 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, was fully amortised in

the previous year.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme

are charged to profit or loss in the period to which they relate.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 34 (2017 - 38 ) .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 April 2017

131,974

Additions

52,614

Disposals

(11,111

)

At 31 March 2018

173,477

DEPRECIATION

At 1 April 2017

59,877

Charge for year

52,209

Eliminated on disposal

(2,106

)

At 31 March 2018

109,980

NET BOOK VALUE

At 31 March 2018

63,497

At 31 March 2017

72,097

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

967,078

729,565

Amounts due from members

407,100

1,527,387

Other debtors

517

5,500

Prepayments

301,666

292,671

1,676,361

2,555,123

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

508,840

428,231

Taxation and social security

369,780

280,724

Other creditors

408,566

268,801

1,287,186

977,756

7.	RELATED PARTY DISCLOSURES

The balance outstanding on interest free loans provided to companies with common members / directors and

under common control amounted to £407,100 (2017: £1,527,387).