The Andersons Centre LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC390932 (England and Wales)

Financial Statements

for the Year Ended 31 March 2019

for

The Andersons Centre LLP

Page

General Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DESIGNATED MEMBERS:

G P Redman

D A Neill

R A King

J T Scarratt

REGISTERED OFFICE:

Old Bell House

2 Nottingham Street

Melton Mowbray

Leicestershire

LE13 1NW

REGISTERED NUMBER:

OC390932 (England and Wales)

ACCOUNTANTS:

HSKS Greenhalgh

Chartered Accountants

The Lion Buildings

8 Market Place

Uttoxeter

Staffordshire

ST14 8HP

FIXED ASSETS

Intangible assets

4

23,569

29,461

Tangible assets

5

28,162

35,661

Investments

6

250

250

51,981

65,372

CURRENT ASSETS

Stocks

400

400

Debtors

362,088

285,922

Cash at bank and in hand

128,375

61,260

490,863

347,582

CREDITORS

Amounts falling due within one year

331,482

247,248

NET CURRENT ASSETS

159,381

100,334

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

211,362

165,706

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

174,799

116,956

MEMBERS' OTHER INTERESTS

Capital accounts

36,563

48,750

211,362

165,706

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

174,799

116,956

Members' other interests

36,563

48,750

211,362

165,706

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 2019.

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 applicable to LLPs subject to the small LLPs regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2019 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

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 26 September 2019 and were signed by:

R A King - Designated member

1.	STATUTORY INFORMATION

The Andersons Centre 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

The financial statements are presented in £ Sterling.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for sale of goods

and services in the ordinary course of the business and is shown net of Value Added Tax. In the case

of long term contracts, credit is taken appropriate to the stage of completion when the outcome of the

contract can be ascertained with reasonable certainty.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it

reflects the partial performance of the contractual obligations. For such contracts the amount of

revenue reflects the accrual of the right to consideration by reference to the value of work performed.

Revenue not billed to clients is included in debtors, and payments on account in excess of the relevant

amount of revenue are included in creditors.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, 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.

Fixtures, fittings and equipment

-

at members' estimate

Motor vehicles

-

45% in the first year, followed by 35% in the second year and 20% in the third year to a residual value of £2,000. It is the policy of the members to replace any motor vehicle after three years. Where this has not occurred the vehicle is further depreciated until replaced

Computer equipment

-

at members' estimate

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

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.

Long term contracts

Amounts recoverable on long term contracts, which are included within debtors, are stated at the net

sales value of the work done after provision for contingencies and anticipated future losses on

contracts, less amounts received as progress payments on account. Excess progress payments are

included in creditors as payments on account.

Taxation

The taxation payable on the partnership profits is solely the personal liability of the individual members.

Consequently neither the partnership taxation nor the related deferred taxation arising in respect of the

partnership are accounted for in these financial statements.

Members’ participation rights

Members' participation rights are the rights of a member against the LLP that arise under the

members' agreement (for example, in respect of amounts subscribed or otherwise contributed

remuneration and profits).

Members' participation rights in the earnings of assets of the LLP are analysed between those that are,

from the LLP's perspective, either a financial liability or equity, in accordance with FRS 25 (IAS 32)

Financial Instruments: Disclosure and Presentation and UITF abstract 39 Members' shares in

co-operative entities and similar instruments. A member's participation right results in a liability unless

the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed

as equity if the LLP has an unconditional right to refuse payments to members. If the LLP does not

have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right

to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They

are therefore treated as an expense in the Profit and Loss Account in the relevant year. To the extent

that they remain unpaid at the period end, they are shown as liabilities in the Balance Sheet.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the

LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of

equity rather than as an expense. They are therefore shown as a residual amount available for

discretionary division among members in the Profit and Loss Account and are equity appropriations in

the Balance Sheet.

Other amounts applied to members, for example remuneration paid under an employment contract

and interest on capital balances, are treated in the same way as all other divisions of profits, as

described above, according to whether the LLP has, in each case, an unconditional right to refuse

payment.

All amounts due to members that are classified as liabilities are presented in the Balance Sheet within

'Loans and other debts due to members' and are charged to the Profit and Loss Account within

'Members' remuneration charged as an expense'. Amounts due to members that are classified as

equity are shown in the Balance Sheet within 'Members' other interests'.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 11 (2018 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2018

and 31 March 2019

58,922

AMORTISATION

At 1 April 2018

29,461

Amortisation for year

5,892

At 31 March 2019

35,353

NET BOOK VALUE

At 31 March 2019

23,569

At 31 March 2018

29,461

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2018

164,547

Additions

9,920

Disposals

(25,740

)

At 31 March 2019

148,727

DEPRECIATION

At 1 April 2018

128,886

Charge for year

15,419

Eliminated on disposal

(23,740

)

At 31 March 2019

120,565

NET BOOK VALUE

At 31 March 2019

28,162

At 31 March 2018

35,661

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 April 2018

and 31 March 2019

250

NET BOOK VALUE

At 31 March 2019

250

At 31 March 2018

250

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2019

2018

£

£

Amounts owed to members in respect of profits

142,332

52,700

Taxation provision accounts

32,467

64,256

174,799

116,956

Falling due within one year

174,799

116,956

Loans repayable to retired members are shown within other creditors.

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 The Andersons Centre LLP for the year ended

31 March 2019 which comprise the Income Statement, Abridged 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 The Andersons Centre LLP, as a body, in accordance with the terms of our engagement letter dated 26 October 2018. Our work has been undertaken solely to prepare for your approval the financial statements of The Andersons Centre LLP and state those matters that we have agreed to state to the members of The Andersons Centre 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 The Andersons Centre LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that The Andersons Centre 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 The Andersons Centre LLP. You consider that The Andersons Centre 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 The Andersons Centre 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.

HSKS Greenhalgh

Chartered Accountants

The Lion Buildings

8 Market Place

Uttoxeter

Staffordshire

ST14 8HP

30 September 2019