Melinek Fine Llp - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC351974 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

MELINEK FINE LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

D B Fine

A Y Melinek

REGISTERED OFFICE:

First Floor, Winston House

349 Regents Park Road

London

N3 1DH

REGISTERED NUMBER:

OC351974 (England and Wales)

ACCOUNTANTS:

Melinek Fine LLP

Chartered Accountants

First Floor, Winston House

349 Regents Park Road

London

N3 1DH

FIXED ASSETS

Intangible assets

4

78,581

-

Tangible assets

5

110,916

14,606

189,497

14,606

CURRENT ASSETS

Stocks

147,831

125,331

Debtors

6

604,050

425,333

Cash at bank

21,242

5,045

773,123

555,709

CREDITORS

Amounts falling due within one year

7

570,279

372,059

NET CURRENT ASSETS

202,844

183,650

TOTAL ASSETS LESS CURRENT LIABILITIES

392,341

198,256

CREDITORS

Amounts falling due after more than one year

8

-

48,151

NET ASSETS ATTRIBUTABLE TO MEMBERS

392,341

150,105

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

356,877

114,641

MEMBERS' OTHER INTERESTS

Capital accounts

35,464

35,464

392,341

150,105

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

356,877

114,641

Members' other interests

35,464

35,464

Amounts due from members

6

-

(26,120

)

392,341

123,985

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 24 December 2018 and were signed by:

A Y Melinek - Designated member

D B Fine - Designated member

1.	STATUTORY INFORMATION

Melinek Fine 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 represents net invoiced services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

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

-

33% on cost and 25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other debtors and creditors.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period

for objective evidence of impairment. If objective impairment is found, an impairment loss is recognised in profit

or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an

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

the asset or settle the liability simultaneously.

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 25 (2017 - 24 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

87,312

At 31 March 2018

87,312

AMORTISATION

Charge for year

8,731

At 31 March 2018

8,731

NET BOOK VALUE

At 31 March 2018

78,581

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

66,002

Additions

147,448

Disposals

(40,225

)

At 31 March 2018

173,225

DEPRECIATION

At 1 April 2017

51,396

Charge for year

40,078

Eliminated on disposal

(29,165

)

At 31 March 2018

62,309

NET BOOK VALUE

At 31 March 2018

110,916

At 31 March 2017

14,606

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

544,716

399,213

Other debtors

59,334

26,120

604,050

425,333

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

177,622

26,487

Trade creditors

39,849

24,920

Taxation and social security

171,585

147,673

Other creditors

181,223

172,979

570,279

372,059

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

-

48,151

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2018

2017

£

£

Amounts owed to members in respect of profits

356,877

114,641

Falling due within one year

356,877

114,641

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

with unsecured creditors.