MossCo LLP LLP accounts
MossCo LLP LLP accounts
REGISTERED NUMBER:
OC378332
|
|
|
|
Financial Statements |
Year ended 31 March 2017
Contents |
Page |
Members' Report |
1 |
Statement of Financial Position |
2 |
Reconciliation of Members' Interests |
4 |
Notes to the Financial Statements |
6 |
|
Members' Report |
Year ended 31 March 2017
The members present their report and the unaudited financial statements of the LLP for the year ended
31 March 2017
.
Principal Activities
Designated Members
The designated members who served the LLP during the year were as follows:
|
|
|
|
Policy Regarding Members' Drawings and the Subscription and Repayment of Amounts Subscribed or Otherwise Contributed by Members
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.
This report was approved by the members on
13 February 2018
and signed on behalf of the members by:
|
Designated Member |
Trading address: |
|
|
|
|
|
|
Statement of Financial Position |
2017 |
2016 |
|||
Note |
£ |
£ |
£ |
£ |
Fixed Assets
Tangible assets |
5 |
|
|
||
Current Assets
Stocks |
|
|
|||
Debtors |
6 |
|
|
||
Cash at bank and in hand |
|
|
|||
---------- |
---------- |
||||
|
|
||||
Creditors: amounts falling due within one year |
7 |
|
|
||
---------- |
---------- |
||||
Net Current Assets |
|
|
|||
---------- |
---------- |
||||
Total Assets Less Current Liabilities |
|
|
|||
Creditors: amounts falling due after more than one year |
8 |
|
|
||
---------- |
---------- |
||||
Net Assets |
|
|
|||
---------- |
---------- |
||||
Represented by:
Loans and Other Debts due to Members
Other amounts |
9 |
218,196 |
150,039 |
||
---------- |
---------- |
||||
Members' Other Interests
Other reserves |
– |
– |
||
---------- |
---------- |
|||
218,196 |
150,039 |
|||
---------- |
---------- |
|||
Total Members' Interests
Amounts due from members |
(73,172) |
(25,869) |
|||
Loans and other debts due to members |
9 |
218,196 |
150,039 |
||
Members' other interests |
– |
– |
|||
---------- |
---------- |
||||
145,024 |
124,170 |
||||
---------- |
---------- |
||||
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.
|
Statement of Financial Position (continued) |
These financial statements were approved by the
members
and authorised for issue on
13 February 2018
, and are signed on their behalf by:
|
Designated Member |
Registered number:
OC378332
|
Reconciliation of Members' Interests |
Year ended 31 March 2017
Members' other interests |
Loans and other debts due to members less any amounts due from members in debtors |
Total members' interests |
|||
Other reserves |
Total |
Other amounts |
Total |
Total 2017 |
|
£ |
£ |
£ |
£ |
£ |
|
Amounts due to members |
150,039 |
150,039 |
|||
Amounts due from members |
(25,869) |
(25,869) |
|||
---------- |
---------- |
||||
Balance at 1 April 2016 |
– |
– |
124,170 |
124,170 |
124,170 |
Profit for the financial year available for discretionary division among members |
37,740 |
37,740 |
37,740 |
||
--------- |
--------- |
---------- |
---------- |
---------- |
|
Members' interests after profit for the year |
37,740 |
37,740 |
124,170 |
124,170 |
161,910 |
Other division of profits |
(37,740) |
(37,740) |
37,740 |
37,740 |
– |
Introduced by members |
– |
75,500 |
75,500 |
75,500 |
|
Drawings |
(92,386) |
(92,386) |
(92,386) |
||
---------- |
---------- |
||||
Amounts due to members |
218,196 |
218,196 |
|||
Amounts due from members |
(73,172) |
(73,172) |
|||
--------- |
--------- |
---------- |
---------- |
---------- |
|
Balance at 31 March 2017 |
– |
– |
145,024 |
145,024 |
145,024 |
--------- |
--------- |
---------- |
---------- |
---------- |
|
|
Reconciliation of Members' Interests (continued) |
Year ended 31 March 2017
Members' other interests |
Loans and other debts due to members less any amounts due from members in debtors |
Total members' interests |
|||
Other reserves |
Total |
Other amounts |
Total |
Total 2016 |
|
£ |
£ |
£ |
£ |
£ |
|
Amounts due to members |
120,960 |
120,960 |
|||
Amounts due from members |
(15,672) |
(15,672) |
|||
---------- |
---------- |
||||
Balance at 1 April 2015 |
– |
– |
105,288 |
105,288 |
105,288 |
Profit for the financial year available for discretionary division among members |
22,230 |
22,230 |
22,230 |
||
--------- |
--------- |
---------- |
---------- |
---------- |
|
Members' interests after profit for the year |
22,230 |
22,230 |
105,288 |
105,288 |
127,518 |
Other division of profits |
(22,230) |
(22,230) |
22,230 |
22,230 |
– |
Introduced by members |
– |
65,000 |
65,000 |
65,000 |
|
Drawings |
(68,348) |
(68,348) |
(68,348) |
||
---------- |
---------- |
||||
Amounts due to members |
150,039 |
150,039 |
|||
Amounts due from members |
(25,869) |
(25,869) |
|||
--------- |
--------- |
---------- |
---------- |
---------- |
|
Balance at 31 March 2016 |
– |
– |
124,170 |
124,170 |
124,170 |
--------- |
--------- |
---------- |
---------- |
---------- |
|
|
Notes to the Financial Statements |
Year ended 31 March 2017
1. |
General Information |
The LLP is registered in England and Wales. The address of the registered office is Emstrey House (North), Shrewsbury Business Park, Shrewsbury, Shropshire, SY2 6LG.
2. |
Statement of Compliance |
3. |
Accounting Policies |
Basis of Preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 11.
Judgements and Key Sources of Estimation Uncertainty
Revenue Recognition
Members' Participation Rights
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.
Operating Leases
Tangible Assets
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 |
- |
|
|
Motor vehicles |
- |
|
|
Impairment of Fixed Assets
Financial Instruments
4. |
Employee Numbers |
The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to
4
(2016:
3
).
5. |
Tangible Assets |
Freehold property |
Fixtures and fittings |
Motor vehicles |
Total |
|
£ |
£ |
£ |
£ |
|
Cost |
||||
At 1 April 2016 |
|
|
|
|
Additions |
– |
|
– |
|
---------- |
--------- |
---- |
---------- |
|
At 31 March 2017 |
|
|
|
|
---------- |
--------- |
---- |
---------- |
|
Depreciation |
||||
At 1 April 2016 |
– |
|
|
|
Charge for the year |
– |
|
|
|
---------- |
--------- |
---- |
---------- |
|
At 31 March 2017 |
– |
|
|
|
---------- |
--------- |
---- |
---------- |
|
Carrying amount |
||||
At 31 March 2017 |
|
|
|
|
---------- |
--------- |
---- |
---------- |
|
At 31 March 2016 |
|
|
|
|
---------- |
--------- |
---- |
---------- |
|
6. |
Debtors |
2017 |
2016 |
|
£ |
£ |
|
Trade debtors |
|
|
Other debtors |
|
|
---------- |
---------- |
|
|
|
|
---------- |
---------- |
|
7.
Creditors:
amounts falling due within one year
2017 |
2016 |
|
£ |
£ |
|
Trade creditors |
|
|
Social security and other taxes |
|
|
Other creditors |
|
|
--------- |
--------- |
|
|
|
|
--------- |
--------- |
|
8.
Creditors:
amounts falling due after more than one year
2017 |
2016 |
|
£ |
£ |
|
Bank loans and overdrafts |
|
|
---------- |
---------- |
|
The bank loans are secured against all assets of the company.
9. |
Loans and Other Debts due to Members |
2017 |
2016 |
|
£ |
£ |
|
Amounts owed to members in respect of profits |
218,196 |
150,039 |
---------- |
---------- |
|
10. |
Related Party Transactions |
In the opinion of the members the controlling party is
Mr J G Moss
. Included with other debtors is £ 99,520
(2016 - £ 99,520
) due from St. Laurence Homes Ltd
, a company of which Mr J G Moss
is director and 40% shareholder. The non-interest bearing loan is repayable on demand.
11. |
Transition to FRS 102 |
These are the first financial statements that comply with FRS 102. The LLP transitioned to FRS 102 on 1 April 2015.
No transitional adjustments were required in equity or profit or loss for the year.