P&P Architectural LLP - LLP accounts 16.3

REGISTERED NUMBER: OC347037 (England and Wales)

P&P ARCHITECTURAL LLP

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2016

Page

General Information

1

Report of the Members

2

Chartered Accountants' Report

3

Statement of Comprehensive Income

4

Balance Sheet

5

to

6

Notes to the Financial Statements

7

to

9

DESIGNATED MEMBERS:

Mr G H Parker

Mr J R Parker

REGISTERED OFFICE:

Town Wall House

Balkerne Hill

Colchester

Essex

CO3 3AD

REGISTERED NUMBER:

OC347037 (England and Wales)

ACCOUNTANTS:

Haines Watts

Town Wall House

Balkerne Hill

Colchester

Essex

CO3 3AD

The members present their report with the financial statements of the LLP for the year ended 31 December 2016.

CHANGE OF NAME

The LLP passed a special resolution on 19 May 2017 changing its name from Gordon H Parker LLP to P&P Architectural LLP.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of architectural design, planning services and consultancy to

the construction industry.

REVIEW OF BUSINESS

The designated members consider the performance during the year and the position at the year end to be satisfactory.

On the basis of the members' assessment of the LLP's financial position, there is reasonable expectation that the LLP will be

able to continue in existence for the foreseeable future. Thus the annual financial statements are prepared on a going concern

basis.

DESIGNATED MEMBERS

The designated members during the year under review were:

Mr G H Parker

Mr J R Parker

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The loss for the year before members' remuneration and profit shares was £1,004 (2015 - £1,096 profit).

MEMBERS' INTERESTS

Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such

drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP.

New members are required to subscribe a minimum level of capital and in subsequent years members are invited to subscribe

for further capital, the amounts of which is determined by the performance and seniority of those members. On retirement,

capital is repaid to members.

SMALL LLP PROVISIONS

This report has been prepared in accordance with the provisions applicable to LLPs entitled to the small LLPs exemption.

ON BEHALF OF THE MEMBERS:

Mr G H Parker - Designated member

13 September 2017

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 P&P Architectural LLP for the year ended 31 December 2016 which comprise the Statement of Comprehensive

Income, Balance Sheet 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 icaew.com/regulations.

This report is made solely to the members of P&P Architectural LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of P&P Architectural LLP and state those matters that we have agreed to state to the members of P&P Architectural LLP, as a body, in this report in accordance with icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than P&P Architectural LLP members, as a body, for our work or for this report.

It is your duty to ensure that P&P Architectural 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 loss of P&P Architectural LLP. You consider that P&P Architectural 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 P&P Architectural 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.

Haines Watts

Town Wall House

Balkerne Hill

Colchester

Essex

CO3 3AD

Date: .............................................

TURNOVER

8,850

42,076

Cost of sales

(7,431

)

(33,447

)

GROSS PROFIT

1,419

8,629

Administrative expenses

(2,423

)

(7,533

)

OPERATING (LOSS)/PROFIT and

(LOSS)/PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION AND
PROFIT SHARES AVAILABLE FOR DISCRETIONARY
DIVISION AMONG MEMBERS

(1,004

)

1,096

OTHER COMPREHENSIVE INCOME

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(1,004

)

1,096

FIXED ASSETS

Tangible assets

5

55

203

CURRENT ASSETS

Stocks

29,710

7,065

Debtors

6

33,401

42,874

Cash at bank

9,240

2,069

72,351

52,008

CREDITORS

Amounts falling due within one year

7

(72,356

)

(52,161

)

NET CURRENT LIABILITIES

(5

)

(153

)

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

50

LOANS AND OTHER DEBTS DUE TO MEMBERS

-

MEMBERS' OTHER INTERESTS

Capital accounts

50

TOTAL MEMBERS' INTERESTS

Members' other interests

50

Amounts due from members

6

(15,996

)

(15,598

)

(15,946

)

(15,548

)

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 2016.

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 in accordance with the provisions of Part 15 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 small LLPs.

The financial statements were approved by the members of the LLP on 13 September 2017 and were signed by:

Mr G H Parker - Designated member

1.	STATUTORY INFORMATION

P&P Architectural 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Transition to frs 102 section 1a

These financial statements for the year ended 31 December 2016 are the first financial statements that comply with

FRS 102 Section 1A Small Entities. The date of transition is 1 January 2014. This transition has not resulted in any

changes to the accounting policies.

Turnover

The turnover shown in the income statement represents amounts receivable for goods and services supplied during the

year net of VAT and trade discounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment

-

25% on cost

Work in progress

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity.

Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of

work in progress.

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).

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the

LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right,

such amounts are classified as liabilities.

Profits are divided between the members on a discretionary basis and therefore such profits are classed as an

appropriation of equity rather than as an expense.

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.	OPERATING (LOSS)/PROFIT

The operating loss (2015 - operating profit) is stated after charging:

2016

2015

£

Depreciation - owned assets

148

155

4.	INFORMATION IN RELATION TO MEMBERS

2016

2015

The average number of members during the year was

2

5.	TANGIBLE FIXED ASSETS

Equipment

£

COST

At 1 January 2016

and 31 December 2016

619

DEPRECIATION

At 1 January 2016

416

Charge for year

148

At 31 December 2016

564

NET BOOK VALUE

At 31 December 2016

55

At 31 December 2015

203

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

Trade debtors

16,972

16,838

Amounts due from members

15,996

15,598

Amounts recoverable on contracts

-

10,388

Other debtors

50

Prepayments and accrued income

383

-

33,401

42,874

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

Amounts due to related undertakings

68,640

48,437

Other creditors

2,216

2,224

Accruals and deferred income

1,500

72,356

52,161

8.	RELATED PARTY TRANSACTIONS

At the year end £487 (2015: £6,863 owed to Dellacourt) was due from Dellacourt Developments Limited, a company in

which Mr G H Parker is a director and majority shareholder. This amount is unsecured, interest free and repayable on

demand.

During the year purchases of £27,553 (2015: £28,260) were made from Camulus Builders Limited (a company under the

control of Mr G.H. Parker). At the year end £69,127 (2015: £41,573) was due by the LLP to Camulus Builders Limited.

This amount is interest free and repayable on demand.

All transactions were carried out at arms length and in the normal course of business.