James Madison Services LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC363775 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2018

for

James Madison Services LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DESIGNATED MEMBERS:

D Thornton Baker

Mrs S Thornton-Baker

REGISTERED OFFICE:

17a Bridge House

Maybrook Road

Minworth

Sutton Coldfield

West Midlands

B76 1AL

REGISTERED NUMBER:

OC363775 (England and Wales)

ACCOUNTANTS:

Tomkinson Teal Limited

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

FIXED ASSETS

Tangible assets

5

38,375

45,994

Investments

6

1

1

38,376

45,995

CURRENT ASSETS

Stocks

85,000

125,000

Debtors

7

-

43,000

Cash at bank and in hand

29,561

9,319

114,561

177,319

CREDITORS

Amounts falling due within one year

8

(98,408

)

(106,835

)

NET CURRENT ASSETS

16,153

70,484

TOTAL ASSETS LESS CURRENT LIABILITIES

54,529

116,479

CREDITORS

Amounts falling due after more than one year

9

-

(21,080

)

NET ASSETS ATTRIBUTABLE TO MEMBERS

54,529

95,399

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

54,529

95,399

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

54,529

95,399

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 30 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP on 17 December 2018 and were signed by:

D Thornton Baker - Designated member

1.	STATUTORY INFORMATION

James Madison Services 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.	STATEMENT OF COMPLIANCE

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. There are no material departures from the Standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all

costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and

condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and

slow-moving stock where appropriate.

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.

4.	EMPLOYEE INFORMATION

The average number of employees during the year was 4 (2017 - 4 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 May 2017

8,640

114,900

123,540

Additions

3,398

-

3,398

At 30 April 2018

12,038

114,900

126,938

DEPRECIATION

At 1 May 2017

1,632

75,914

77,546

Charge for year

1,270

9,747

11,017

At 30 April 2018

2,902

85,661

88,563

NET BOOK VALUE

At 30 April 2018

9,136

29,239

38,375

At 30 April 2017

7,008

38,986

45,994

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 May 2017

and 30 April 2018

1

NET BOOK VALUE

At 30 April 2018

1

At 30 April 2017

1

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

-

43,000

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Hire purchase contracts

-

11,920

Trade creditors

1,370

8,729

Amounts owed to group undertakings

20,000

-

Amounts owed to participating interests

62,236

62,236

Taxation and social security

13,602

22,750

Other creditors

1,200

1,200

98,408

106,835

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

-

21,080

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2018

2017

£

£

Amounts owed to members in respect of profits

54,529

95,399

Falling due within one year

54,529

95,399

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

Balance Sheet. 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 James Madison Services LLP for the year ended 30 April 2018 which comprise the

Profit and Loss Account, Balance Sheet, Reconciliation of Members' Interests 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 James Madison Services 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 James Madison Services LLP and state those matters that we have agreed to state to the members of James Madison Services 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 James Madison Services LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that James Madison Services 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 profit of James Madison Services LLP. You consider that James Madison Services LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of James Madison Services 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.

Tomkinson Teal Limited

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

17 December 2018