Raffingers LLP - Accounts to registrar (filleted) - small 18.2

Raffingers LLP - Accounts to registrar (filleted) - small 18.2

RAFFINGERS LLP - Company Information

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REGISTERED NUMBER: OC310176 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

RAFFINGERS LLP
RAFFINGERS LLP (REGISTERED NUMBER: OC310176)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2020




Page

General Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


RAFFINGERS LLP

GENERAL INFORMATION
for the year ended 31 December 2020







DESIGNATED MEMBERS: Mr L E Manning FCCA
Mr G B Soraff FCCA
Mr A H Moody BA (Hons) FCCA
Mr G P Inglis BA(Hons) FFA
Mr T Sudarshan FCCA
Mr A A Coney FCCA
Mr P Dell FCA
Raffingers Advisory Limited
Alexander Ash & Co Limited
Mr R K Butcher





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: OC310176 (England and Wales)





ACCOUNTANTS: Raffingers LLP
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD
Page 1
RAFFINGERS LLP (REGISTERED NUMBER: OC310176)

ABRIDGED BALANCE SHEET
31 December 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,049,545 1,094,913
Tangible assets 5 17,077 22,757
1,066,622 1,117,670

CURRENT ASSETS
Debtors 2,514,542 2,500,492
Cash at bank 1,472,591 -
3,987,133 2,500,492
CREDITORS
Amounts falling due within one year 1,548,064 1,243,266
NET CURRENT ASSETS 2,439,069 1,257,226
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,505,691
2,374,896

CREDITORS
Amounts falling due after more than one
year
1,662,760
821,517
NET ASSETS ATTRIBUTABLE TO
MEMBERS
1,842,931
1,553,379

LOANS AND OTHER DEBTS DUE TO
MEMBERS
7
1,842,931
1,553,379

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 1,842,931 1,553,379

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 December 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 notes form part of these financial statements

Page 2 continued...
RAFFINGERS LLP (REGISTERED NUMBER: OC310176)

ABRIDGED BALANCE SHEET - continued
31 December 2020


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 Income Statement and an abridged Balance Sheet for the year ended 31 December 2020 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 and authorised for issue on 22 September 2021 and were signed by:





Mr A H Moody BA (Hons) FCCA - Designated member

The notes form part of these financial statements

Page 3
RAFFINGERS LLP (REGISTERED NUMBER: OC310176)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2020

1. STATUTORY INFORMATION

Raffingers 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. 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.

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

Goodwill
Goodwill, being the amount paid in connection the purchase of businesses in the current and prior years, is being amortised evenly over its estimated useful life of 10-20 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Government grants
Government grants, including non-monetary grants shall not be recognised until there is reasonable assurance that:
(a) the entity will comply with the conditions attaching to them; and
(b) the grants will be received.

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.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 61 (2019 - 73 ) .

Page 4 continued...
RAFFINGERS LLP (REGISTERED NUMBER: OC310176)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2020

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2020 1,304,261
Additions 57,958
At 31 December 2020 1,362,219
AMORTISATION
At 1 January 2020 209,348
Amortisation for year 103,326
At 31 December 2020 312,674
NET BOOK VALUE

At 31 December 2020 1,049,545
At 31 December 2019 1,094,913

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2020
and 31 December 2020 36,585
DEPRECIATION
At 1 January 2020 13,828
Charge for year 5,680
At 31 December 2020 19,508
NET BOOK VALUE
At 31 December 2020 17,077
At 31 December 2019 22,757

6. SECURED DEBTS

The following secured debts are included within creditors:

2020 2019
£    £   
Bank overdraft - 208,287
Loans 1,050,883 163,095
1,050,883 371,382

The bank overdraft and loans are secured by a fixed and floating charge over the assets of the LLP.

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members are unsecured.

Page 5 continued...
RAFFINGERS LLP (REGISTERED NUMBER: OC310176)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2020

8. RELATED PARTY DISCLOSURES

At the balance sheet date, the company was owed £82,173 (2019 - £69,224) by Raffingers Probate Limited, a company with common members/directors.

Page 6