Streamline Surgical LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC322779 (England and Wales)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

30 MARCH 2017 TO 5 APRIL 2018

FOR

STREAMLINE SURGICAL LLP

Page

General Information

1

Report of the Members

2

Statement of Financial Position

3

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DESIGNATED MEMBERS:

G H Slater

S S Somers

G Slater Limited

SSS Surgical Limited

REGISTERED OFFICE:

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

REGISTERED NUMBER:

OC322779 (England and Wales)

ACCOUNTANTS:

The Paris Partnership LLP

Chartered Accountants

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

The members present their report with the financial statements of the LLP for the period 30 March 2017 to 5 April 2018.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the period under review was that of medical, consultancy and surgical procedures.

DESIGNATED MEMBERS

The designated members during the period under review were:

G H Slater

S S Somers

G Slater Limited

SSS Surgical Limited

RESULTS FOR THE PERIOD AND ALLOCATION TO MEMBERS

The loss for the period before members' remuneration and profit shares was £94,210 (2017 - £11,929 loss).

MEMBERS' INTERESTS

Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such

drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP.

New members are required to subscribe a minimum level of capital and in subsequent years members are invited to

subscribe for further capital, the amounts of which is determined by the performance and seniority of those members.

On retirement, capital is repaid to members.

ON BEHALF OF THE MEMBERS:

G H Slater - Designated member

10 June 2018

FIXED ASSETS

Tangible assets

4

38,825

70,548

CURRENT ASSETS

Debtors

5

422,954

363,611

Cash at bank

272,825

511,679

695,779

875,290

CREDITORS

Amounts falling due within one year

6

(734,604

)

(904,420

)

NET CURRENT LIABILITIES

(38,825

)

(29,130

)

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

-

41,418

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

-

41,418

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

-

41,418

Amounts due from members

5

(120,491

)

(15,476

)

(120,491

)

25,942

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 5 April 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 10 June 2018 and were signed by:

G H Slater - Designated member

1.	STATUTORY INFORMATION

Streamline Surgical LLP is registered in England and Wales. The LLP's registered number and registered office

address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents net invoiced sale of medical services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

Straight line over 7 years

Plant and machinery etc

-

33.33% on cost and 20% on reducing balance

Financial instruments

The LLP has elected to apply the provisions of Section 11 ' Basic Financial Instruments' and ' Section 12 ' Other

Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the LLP's Statement of Financial Position when the Partnership

becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured

at transaction price including transaction and where material are subsequently measured at amortised cost using

the effective interest method, less any impairment.

Other financial assets

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 where material the changes in fair value are recognised in the Statement

of Total Comprehensive Income, except that investments in equity instruments that are not publicly traded and

whose fair value cannot be measured reliably are measured at cost less impairment.

Interest is recognised by applying the effective interest rate, except for short-term receivables when the

recognition of interest would be immaterial. The effective interest method is a method of calculating the

amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective

interest rate is the rate that exactly discounts estimated future cash receipts through the life of the debt

instrument to the net carrying amount on initial recognition.

Impairment of Financial Assets

Financial assets, other than those held at fair value are assessed for indicators of impairment at each reporting

end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that

occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

The impairment loss is recognised in the Statement of Total Comprehensive Income.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or

when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and loans from group undertakings that are

classified as debt are initially measured 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

the market rate of interest .

Trade creditors are obligations to pay for goods or services that have been acquired that have been acquired in

the ordinary course of business from suppliers. Accounts payables are classified as current liabilities if a

payment is due within one year or less. If not, they are present as non current liabilities. Short term creditors are

initially recognised at transaction price and where material are subsequently measured at amortised cost using

the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the LLP's obligations are discharged, cancelled, or

they expire.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements when there

is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis

or to realise the asset and settle the liability simultaneously.

Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks with original maturities of

three months or less.

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.

Taxation

Tax paid on the profits arising in the LLP are a personal tax liability of the members of the LLP and are not

included as a tax provision within these financial statements.

Amounts due to members and members remuneration

Amounts due to members comprise of the Partners capital accounts which in turn comprise of capital introduced

by the Partner, the Partners share of the profits of the LLP and any capital drawn by the Partners.

3.	EMPLOYEE INFORMATION

The average number of employees during the period was 14 (2017 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 30 March 2017

253,002

120,396

373,398

Additions

-

12,172

12,172

At 5 April 2018

253,002

132,568

385,570

DEPRECIATION

At 30 March 2017

209,036

93,814

302,850

Charge for period

36,144

7,751

43,895

At 5 April 2018

245,180

101,565

346,745

NET BOOK VALUE

At 5 April 2018

7,822

31,003

38,825

At 29 March 2017

43,966

26,582

70,548

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

224,522

320,592

Other debtors

198,432

43,019

422,954

363,611

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

68,223

322,803

Other creditors

666,381

581,617

734,604

904,420

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of winding up the amounts included in "Loans and other debts due to members" will rank equally

with unsecured creditors.

8.	RELATED PARTY DISCLOSURES

Streamline Surgical Group Limited

A company under common control

2018

2017

£

£

Amount due from related party at the balance sheet date

5,055

8,296

Streamline Clinics Limited

A company under mutual control

2018

2017

£

£

Amount due from related party at the balance sheet date

50,000

-

The following reproduces the text of the report prepared for the members in respect of the LLP's annual

unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a

Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Members are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability

Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your

approval the financial statements of Streamline Surgical LLP for the period ended 5 April 2018 which comprise the

Income Statement, Statement of Financial Position and the related notes from the LLP's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of Streamline Surgical LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Streamline Surgical LLP and state those matters that we have agreed to state to the members of Streamline Surgical LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Streamline Surgical LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Streamline Surgical LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Streamline Surgical LLP. You consider that Streamline Surgical LLP is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Streamline Surgical LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The Paris Partnership LLP

Chartered Accountants

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

10 June 2018