MO Capital Advisers LLP Filleted accounts for Companies House (small and micro)

MO CAPITAL ADVISERS LLP - Company Information

false false false false false false false false false false false false false false false false false No description of principal activity 2017-04-01 Sage Accounts Production Advanced 2018 - FRS xbrli:pure xbrli:shares iso4217:GBP OC379876 2017-04-01 2018-03-31 OC379876 2018-03-31 OC379876 2017-03-31 OC379876 2017-03-31 OC379876 core:FurnitureFittings 2017-04-01 2018-03-31 OC379876 bus:Director3 2017-04-01 2018-03-31 OC379876 core:FurnitureFittings 2017-03-31 OC379876 core:FurnitureFittings 2018-03-31 OC379876 core:WithinOneYear 2018-03-31 OC379876 core:WithinOneYear 2017-03-31 OC379876 core:FurnitureFittings 2017-03-31 OC379876 bus:SmallEntities 2017-04-01 2018-03-31 OC379876 bus:AuditExempt-NoAccountantsReport 2017-04-01 2018-03-31 OC379876 bus:FullAccounts 2017-04-01 2018-03-31 OC379876 bus:SmallCompaniesRegimeForAccounts 2017-04-01 2018-03-31 OC379876 bus:LimitedLiabilityPartnershipLLP 2017-04-01 2018-03-31

REGISTERED NUMBER: OC379876

MO Capital Advisers LLP

Filleted Unaudited Financial Statements

31 March 2018

MO Capital Advisers LLP

Statement of Financial Position

31 March 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	4		–	854

Current assets

Debtors	5	1,308	9,910
Cash at bank and in hand		44,013	59,412
		--------	--------
		45,321	69,322

Creditors: amounts falling due within one year	6	4,872		6,421
		--------		--------
Net current assets			40,449	62,901
			--------	--------
Total assets less current liabilities			40,449	63,755
			--------	--------
Net assets			40,449	63,755
			--------	--------

Represented by:

Loans and other debts due to members

Other amounts	7		22,949	46,255

Members' other interests

Members' capital classified as equity	17,500	17,500
Other reserves	–	–
	--------	--------
	40,449	63,755
	--------	--------

Total members' interests

Loans and other debts due to members	7	22,949	46,255
Members' other interests		17,500	17,500
		--------	--------
		40,449	63,755
		--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.

For the year ending 31 March 2018 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .

MO Capital Advisers LLP

Statement of Financial Position (continued)

31 March 2018

These financial statements were approved by the members and authorised for issue on 15 August 2018 , and are signed on their behalf by:

A Dixon

Designated Member

Registered number: OC379876

MO Capital Advisers LLP

Notes to the Financial Statements

Year ended 31 March 2018

1.	General information

The LLP is registered in England and Wales. The address of the registered office is 1st Floor, 24/25 New Bond Street, Mayfair, London, W1S 2RR, United Kingdom.

2.	Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in January 2017 (SORP 2017).

3.	Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

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.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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	-	33% straight line
Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the LLP are assigned to those units.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the LLP becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4.	Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 April 2017 and 31 March 2018	1,134	3,063	4,197
	-------	-------	-------
Depreciation
At 1 April 2017	1,048	2,295	3,343
Charge for the year	86	768	854
	-------	-------	-------
At 31 March 2018	1,134	3,063	4,197
	-------	-------	-------
Carrying amount
At 31 March 2018	–	–	–
	-------	-------	-------
At 31 March 2017	86	768	854
	-------	-------	-------

5.	Debtors

	2018	2017
	£	£
Trade debtors	–	8,500
Other debtors	1,308	1,410
	-------	-------
	1,308	9,910
	-------	-------

6. Creditors: amounts falling due within one year

	2018	2017
	£	£
Social security and other taxes	1,358	3,377
Other creditors	3,514	3,044
	-------	-------
	4,872	6,421
	-------	-------

7.	Loans and other debts due to members

	2018	2017
	£	£
Amounts owed to members in respect of profits	22,949	46,255
	--------	--------

8.	Related party transactions

Advisory fees and Commission fees of £10,652 (2017: £18,683) were paid to Clarendon Partners LLP, where Mr M.Gee is a designated member.