| HMT LLP |
| Registered number: |
OC337674 |
| Balance Sheet |
| as at 31 March 2018 |
| Notes |
|
2018 |
|
2017 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
102,677 |
|
183,055 |
| Current assets |
|
|
|
|
|
| Work In Progress |
|
|
292,000 |
|
83,959 |
| Debtors |
3 |
|
254,373 |
|
398,362 |
| Cash at bank and in hand |
|
|
- |
|
20,190 |
|
|
|
546,373 |
|
502,511 |
|
| Creditors: amounts falling due within one year |
4 |
|
(424,158) |
|
(425,006) |
|
| Net current assets |
|
|
122,215 |
|
77,505 |
|
|
|
|
|
|
| Total assets less current liabilities |
|
|
224,892 |
|
260,560 |
|
|
|
| Net assets attributable to members |
224,892 |
|
260,560 |
|
|
|
|
|
|
| Represented by: |
| Loans and other debts due to members |
6 |
|
224,892 |
|
260,560 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
224,892 |
|
260,560 |
|
|
|
|
|
|
| Total members' interests |
| Loans and other debts due to members |
6 |
|
224,892 |
|
260,560 |
|
|
|
|
224,892 |
|
260,560 |
|
|
|
|
|
|
| For the year ended 31 March 2018 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs). |
| The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
| These accounts were approved by the members on 19 December 2018 and signed on their behalf by: |
|
|
|
| A D Thomson |
| Designated member |
|
| HMT LLP |
| Notes to the Accounts |
| for the year ended 31 March 2018 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships. |
|
|
Turnover |
|
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of services to clients. |
|
|
Taxation |
|
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Motor vehicles |
25% straight line basis |
|
Fixtures & fittings |
20% straight line basis |
|
|
Work in progress |
|
Work in progress is valued at the lower of cost and net realisable value. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
|
|
Operating leases |
|
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. |
|
|
Members' remuneration |
|
The LLP agreement provides that fixed amounts, determined for each member each year, be paid to members, irrespective of the profits of the LLP. These amounts are also included within the members' remuneration charged to the profit and loss account. |
|
|
Members' capital |
|
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional. |
|
|
Pensions |
|
The LLP operates a defined contribution pension scheme. Contributions are charged in the profit and loss account as they become payable in accordance with the rules of the scheme. |
|
|
|
|
|
Financial Instruments |
|
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the LLP after deducting all of its liabiliities. |
|
| 2 |
Turnover |
|
The LLP's turnover represents the value, excluding value added tax, of services supplied to clients during the year, of which 0% (2017 0%) was supplied to clients outside of the United Kingdom. |
|
| 3 |
Operating profit |
|
Operating profit is stated after charging/(crediting): |
|
|
|
|
|
|
2018 |
|
2017 |
|
|
|
|
|
|
£ |
|
£ |
|
Profit on disposal of tangible fixed assets |
|
(17,587) |
|
(76,058) |
|
Depreciation of owned assets |
|
80,378 |
|
83,894 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Information in relation to members |
|
|
|
|
|
|
2018 |
|
2017 |
|
|
|
|
|
|
£ |
|
£ |
|
Average number of members during the year |
|
3 |
|
3 |
|
| 2 |
Tangible fixed assets |
|
|
|
|
Fixtures and Fittings |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 April 2017 |
49,378 |
|
133,677 |
|
183,055 |
|
At 31 March 2018 |
49,378 |
|
133,677 |
|
183,055 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
Charge for the year |
49,378 |
|
31,000 |
|
80,378 |
|
At 31 March 2018 |
49,378 |
|
31,000 |
|
80,378 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2018 |
- |
|
102,677 |
|
102,677 |
|
At 31 March 2017 |
49,378 |
|
133,677 |
|
183,055 |
|
|
|
|
|
| 3 |
Debtors |
2018 |
|
2017 |
| £ |
£ |
|
|
Trade debtors |
181,528 |
|
329,371 |
|
Other debtors |
72,845 |
|
68,991 |
|
|
|
|
|
|
254,373 |
|
398,362 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Bank loans and overdrafts |
59,578 |
|
83,086 |
|
Trade creditors |
99,308 |
|
87,587 |
|
Other taxes and social security costs |
165,683 |
|
136,106 |
|
Other creditors |
99,589 |
|
118,227 |
|
|
|
|
|
|
424,158 |
|
425,006 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Operating lease commitments |
|
As at 31 March 2018 the LLP had annual commitments under non-cancellable operating leases as follows: |
|
Operating Leases which expire: |
|
|
|
|
|
|
2018 |
|
2017 |
| £ |
£ |
|
|
Within two and five years |
|
43,806 |
|
61,852 |
|
|
|
|
|
|
43,806 |
|
61,852 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Loans and other debts due to members |
2018 |
|
2017 |
| £ |
£ |
|
|
Loans from members |
325,000 |
|
350,000 |
|
Amounts due to members in respect of profits |
(100,108) |
|
(89,440) |
|
|
|
|
|
|
224,892 |
|
260,560 |
|
|
|
|
|
|
|
|
|
|
Amounts falling due within one year |
224,892 |
|
260,560 |
|
|
|
|
|
|
|
|
|
|
Loans and other debts due to members rank are unsecured and would rank pari passu with other unsecured creditors in the event of a winding up. |
|
|
| 7 |
Pension commitments |
|
|
The LLP operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the LLP to the scheme and amounted to £22,012 (2017 - £46,399). |
|
| 8 |
Other information |
|
|
HMT LLP is a limited liability partnership incorporated in England. Its registered office is: |
|
The Hub |
|
14 Station Road |
|
Henley On Thames |
|
Oxfordshire |
|
RG9 1AY |
