TOTAL VENUES LLP Filleted accounts for Companies House (small and micro)

TOTAL VENUES LLP Filleted accounts for Companies House (small and micro)

TOTAL VENUES LIMITED LIABILITY PARTNERSHIP - Company Information

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REGISTERED NUMBER: OC307248
TOTAL VENUES LLP
Filleted Unaudited Financial Statements
31 March 2019
TOTAL VENUES LLP
Statement of Financial Position
31 March 2019
2019
2018
Note
£
£
£
£
Fixed assets
Tangible assets
4
1,075
1,275
Current assets
Debtors
5
15,273
13,326
Cash at bank and in hand
6,328
5,656
--------
--------
21,601
18,982
Creditors: amounts falling due within one year
6
7,799
4,451
--------
--------
Net current assets
13,802
14,531
--------
--------
Total assets less current liabilities
14,877
15,806
--------
--------
Net assets
14,877
15,806
--------
--------
Represented by:
Loans and other debts due to members
Other amounts
7
14,877
15,806
--------
--------
Members' other interests
Other reserves
–
–
--------
--------
14,877
15,806
--------
--------
Total members' interests
Amounts due from members
(8,389)
(7,924)
Loans and other debts due to members
7
14,877
15,806
Members' other interests
–
–
--------
--------
6,488
7,882
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.
For the year ending 31 March 2019 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) relating to small LLPs.
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 financial statements .
TOTAL VENUES LLP
Statement of Financial Position (continued)
31 March 2019
These financial statements were approved by the members and authorised for issue on 2 December 2019 , and are signed on their behalf by:
Mrs.M.A. Lewis
Designated Member
Registered number: OC307248
TOTAL VENUES LLP
Notes to the Financial Statements
Year ended 31 March 2019
1.
General information
The LLP is registered in England. The address of the registered office is 5 Cromwell Road, Whitefield, Manchester, M45 7RQ.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in January 2017 (SORP 2017).
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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).
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% reducing balance
4.
Tangible assets
Fixtures and fittings
Total
£
£
Cost
At 1 April 2018 and 31 March 2019
5,796
5,796
-------
-------
Depreciation
At 1 April 2018
4,521
4,521
Charge for the year
200
200
-------
-------
At 31 March 2019
4,721
4,721
-------
-------
Carrying amount
At 31 March 2019
1,075
1,075
-------
-------
At 31 March 2018
1,275
1,275
-------
-------
5.
Debtors
2019
2018
£
£
Trade debtors
4,867
3,385
Other debtors
10,406
9,941
--------
--------
15,273
13,326
--------
--------
6. Creditors: amounts falling due within one year
2019
2018
£
£
Social security and other taxes
1,831
2,403
Other creditors
5,968
2,048
-------
-------
7,799
4,451
-------
-------
7.
Loans and other debts due to members
2019
2018
£
£
Amounts owed to members in respect of profits
14,877
15,806
--------
--------
8.
Related party transactions
In the opinion of the members there is no controlling party as defined by financial reporting Standard No 8 "Related party disclosures".