Volterra Partners LLP
Volterra Partners LLP
Registered number: OC361729
Unaudited Financial Statements
For The Year Ended 31 March 2018
The City Taxation Service Limited
15 Cassland Road
London
E9 7AL
Volterra Partners LLP
Unaudited Financial Statements
For The Year Ended 31 March 2018
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Abridged Statement of Financial Position | 1—2 |
| Notes to the Abridged Financial Statements | 3—4 |
Volterra Partners LLP
Abridged Statement of Financial Position
As at
31 March 2018
Abridged Statement of Financial Position
Registered number:
OC361729
For the year ending 31 March 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 applicable to LLP's subject to the small LLPs regime.)
| 2018 | 2017 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Fixed Assets | 3 |
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| CURRENT ASSETS | |||||
| Work in Progress |
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| Debtors |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| PROVISIONS FOR LIABILITIES | |||||
| Provisions For Charges |
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| NET ASSETS ATTRIBUTABLE TO MEMBERS |
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| REPRESENTED BY: | |||||
| Distributable Profit | 146,869 | 600,927 | |||
| Equity | |||||
| Retained Profits | |||||
| Reserves due to Members | 200,000 | 200,000 | |||
| Reserves | 1 | - | |||
| 200,001 | 200,000 | ||||
| 346,870 | 800,927 | ||||
| TOTAL MEMBERS' INTEREST | |||||
| Distributable Profit | 146,869 | 600,927 | |||
| Retained Profits | 200,001 | 200,000 | |||
| 346,870 | 800,927 | ||||
Page 1
Volterra Partners LLP
Abridged Statement of Financial Position (continued)
As at
31 March 2018
Member's responsibilities:
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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 accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. - The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Income Statement.
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All of the LLP's members have consented to the preparation of an Abridged Income Statement and an Abridged Statement of Financial Position for the year end 31 March 2018 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the members
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The notes on pages 3 to 4 form part of these financial statements.
Page 2
Volterra Partners LLP
Notes to the Abridged Financial Statements
For The Year Ended 31 March 2018
Notes to the Abridged Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in January 2017 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to invoices rendered for work completed.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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| Fixtures & Fittings |
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| Computer Equipment |
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1.4.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.5.
Pensions
The LLP operates a defined pension contribution scheme. Contributions are charged to the Income Statement as they become payable in accordance with the rules of the scheme.
2.
Average Number of Employees
Average number of employees, including members, during the year was 12
Page 3
Volterra Partners LLP
Notes to the Abridged Financial Statements (continued)
For The Year Ended 31 March 2018
3.
Tangible Fixed Assets
The analysis of the cost or valuation of the above assets is as follows:
| Total | |
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| £ | |
| Cost | |
| As at |
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| Additions |
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| As at |
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| Depreciation | |
| As at |
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| Provided during the period |
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| As at |
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| Net Book Value | |
| As at |
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| As at |
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| Plant & Machinery | Fixtures & Fittings | Computer Equipment | Total | |
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| £ | £ | £ | £ | |
| As at |
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| At cost | 1,600 | 4,030 | 8,962 | 14,592 |
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14,592 | |
| As at |
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| At cost | 1,237 | 4,030 | 8,360 | 13,627 |
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13,627 | |
4.
General Information
Volterra Partners LLP is a limited liability partnership, incorporated in England & Wales, registered number OC361729 . The Registered Office is 56-58 Putney High Street, London, SW15 1SF.
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