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 2019.
The members acknowledge their responsibilities for:
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
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.
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 16 January 2020and were signed by:
Chancery Financial Planning LLP is registered in England and Wales. The LLP's registered number and
registered office address can be found on the General Information page.
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.
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.
Plant and machinery etc
25% on cost
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
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.
The average number of employees during the year was 10(2018 - 10) .
Loans and Other Debts Due to Members rank for repayment after other creditors
CHANCERY FINANCIAL PLANNING LLP
REPORT OF THE ACCOUNTANTS TO THE MEMBERS OF
CHANCERY FINANCIAL PLANNING LLP
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.
As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 April 2019 set out on pages three to seven and you consider that the LLP is exempt from an audit.
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.