COURT DISTRIBUTION LLP Filleted accounts for Companies House (small and micro)

COURT DISTRIBUTION LLP Filleted accounts for Companies House (small and micro)

COURT DISTRIBUTION LLP - Company Information

Print Friendly Version

0 false false false false false false false false false false false false false false false false false No description of principal activity 2017-04-06 Sage Accounts Production Advanced 2018 - FRS xbrli:pure xbrli:shares iso4217:GBP OC411518 2017-04-06 2018-04-05 OC411518 2018-04-05 OC411518 2016-04-06 2017-04-05 OC411518 2017-04-05 OC411518 core:WithinOneYear 2018-04-05 OC411518 core:WithinOneYear 2017-04-05 OC411518 bus:Director1 2017-04-06 2018-04-05 OC411518 bus:SmallEntities 2017-04-06 2018-04-05 OC411518 bus:AuditExempt-NoAccountantsReport 2017-04-06 2018-04-05 OC411518 bus:FullAccounts 2017-04-06 2018-04-05 OC411518 bus:LimitedLiabilityPartnershipLLP 2017-04-06 2018-04-05
REGISTERED NUMBER: OC411518
COURT DISTRIBUTION LLP
Unaudited Financial Statements
5 April 2018
COURT DISTRIBUTION LLP
Statement of Comprehensive Income
Year ended 5 April 2018
2018
2017
Note
£
£
Turnover
4
39,084
11,540
--------
--------
Gross profit
39,084
11,540
Administrative expenses
39,084
11,596
Other operating income
5
–
56
----
----
Result for the financial year before members' remuneration and profit shares available for discretionary division among members
–
–
----
----
All the activities of the LLP are from continuing operations.
COURT DISTRIBUTION LLP
Statement of Financial Position
5 April 2018
2018
2017
Note
£
£
Current assets
Debtors
7
( 81)
( 950)
Cash at bank and in hand
2,088
1,476
-------
-------
2,007
526
Creditors: amounts falling due within one year
8
2,007
526
Represented by:
Loans and other debts due to members
Other amounts
–
–
----
----
Members' other interests
Other reserves, including the fair value reserve
–
–
----
----
–
–
----
----
Total members' interests
Loans and other debts due to members
–
–
Members' other interests
–
–
----
----
–
–
----
----
For the year ending 5 April 2018 the LLP 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) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
These financial statements were approved by the members and authorised for issue on 12 December 2018 , and are signed on their behalf by:
James Brandle
Member
Registered number: OC411518
COURT DISTRIBUTION LLP
Statement of Cash Flows
Year ended 5 April 2018
2018
2017
£
£
Cash flows from operating activities
Profit for the financial year
–
–
Changes in:
Trade and other debtors
( 869)
950
Trade and other creditors
1,481
526
-------
-------
Cash generated from operations
612
1,476
----
-------
Net cash from operating activities
612
1,476
----
-------
Net increase in cash and cash equivalents
612
1,476
Cash and cash equivalents at beginning of year
1,476
–
-------
-------
Cash and cash equivalents at end of year
2,088
1,476
-------
-------
COURT DISTRIBUTION LLP
Notes to the Financial Statements
Year ended 5 April 2018
1.
General information
The LLP is registered in England and Wales.
2.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in January 2017 (SORP 2017).
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Members' participation rights
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, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.
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 an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income 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 statement of comprehensive income 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'.
Financial instruments
A financial asset or a financial liability is recognised only when the LLP becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Turnover
The whole of the turnover is attributable to the principal activity of the LLP wholly undertaken in the United Kingdom.
5.
Other operating income
2018
2017
£
£
Other operating income
–
56
----
----
6.
Staff costs
The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to:
2018
2017
No.
No.
The aggregate employment costs incurred during the year (excluding members) were:
2018
2017
£
£
Wages and salaries
22,934
8,795
--------
-------
7.
Debtors
2018
2017
£
£
Trade debtors
( 81)
( 950)
----
----
8. Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
1,059
–
Social security and other taxes
948
526
-------
----
2,007
526
-------
----