Hammond Surveyors LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC377397 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2020

for

Hammond Surveyors LLP

Page

General Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

G M Hammond

M L Hammond

REGISTERED OFFICE:

Lymedale Business Centre

Hooters Hall Road

Lymedale Business Park

Newcastle-u-Lyme

Staffordshire

ST5 9QF

REGISTERED NUMBER:

OC377397 (England and Wales)

FIXED ASSETS

Tangible assets

4

14,336

16,170

Investments

5

1,500

-

15,836

16,170

CURRENT ASSETS

Debtors

6

29,225

24,134

Cash at bank

101,606

57,197

130,831

81,331

CREDITORS

Amounts falling due within one year

7

36,474

20,339

NET CURRENT ASSETS

94,357

60,992

TOTAL ASSETS LESS CURRENT LIABILITIES

110,193

77,162

CREDITORS

Amounts falling due after more than one year

8

50,938

6,178

NET ASSETS ATTRIBUTABLE TO MEMBERS

59,255

70,984

MEMBERS' LOANS AND OTHER DEBTS

9

59,255

70,984

TOTAL MEMBERS' INTERESTS

Members' loans and other debts

9

59,255

70,984

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 August 2020.

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.

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 and authorised for issue on 6 January 2021 and were signed by:

G M Hammond - Designated member

1.	STATUTORY INFORMATION

Hammond Surveyors 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

The financial statements cover the company as an individual entity and are presented in Pounds Sterling (£) being the functional currency.

The financial statements have been prepared on a going concern basis on the assumption that the company has adequate resources to continue in operational existence for the foreseeable future. The members have made this assessment with regard to the company’s current and expected performance. Particular consideration has been given to the impact of the Coronavirus on the company's ability to operate for the foreseeable future.

In arriving at this assessment of the going concern status of the company the members have made key judgements about the ongoing availability of the Government's Job Retention Scheme, the ability of the company to agree deferred payment terms on HMRC debts and the returning level of demand for the services provided by the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, after discounts, returns and rebates, excluding value added tax and other sales taxes.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract and when all of the following conditions are satisfied:

-

the amount of turnover can be measured reliably;

-

it is probable that the company will received the consideration due under the contract;

-

the stage of completion of the contract at the end of the reporting period can be measured reliably; and

-

the costs incurred and the costs to complete the contract can be measured reliably.

Usually, turnover from the sale of services is recognised over the period of instruction.

Tangible fixed assets

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Fixture and fittings - 25% on cost

Motor vehicles - 25% on reducing balance

Computer equipment - 33.3% on cost

Government grants

Grants receivable are likely to be recognised in income in the period in which it becomes receivable, matching to the incurring of the related cost. These amounts are not to be offset against the related rates costs.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Basic financial assets and liabilities are initially measured at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future cash flows discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 4 (2019 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 September 2019

915

39,016

11,203

51,134

Additions

3,690

-

520

4,210

At 31 August 2020

4,605

39,016

11,723

55,344

DEPRECIATION

At 1 September 2019

841

24,055

10,068

34,964

Charge for year

996

3,740

1,308

6,044

At 31 August 2020

1,837

27,795

11,376

41,008

NET BOOK VALUE

At 31 August 2020

2,768

11,221

347

14,336

At 31 August 2019

74

14,961

1,135

16,170

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 September 2019

and 31 August 2020

14,016

DEPRECIATION

At 1 September 2019

3,504

Charge for year

2,628

At 31 August 2020

6,132

NET BOOK VALUE

At 31 August 2020

7,884

At 31 August 2019

10,512

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

1,500

At 31 August 2020

1,500

NET BOOK VALUE

At 31 August 2020

1,500

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

14,535

12,114

Other debtors

14,690

12,020

29,225

24,134

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

2,500

-

Hire purchase contracts

2,981

2,821

Trade creditors

3,195

4,865

Taxation and social security

23,967

8,964

Other creditors

3,831

3,689

36,474

20,339

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

47,500

-

Hire purchase contracts

3,438

6,178

50,938

6,178

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

7,500

-

9.	MEMBERS' LOANS AND OTHER DEBTS

Loans and other debts due to members' (other than members' capital classified as debt) would rank in relation to other creditors.

10.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions of £591 (2019 - £490) were payable to the fund at the balance sheet date and are included in creditors.