T he members of the limited liability partnership have elected not to include a copy of the income statement within the financial statements.
Sykes Anderson LLP is a limited liability partnership incorporated in England and Wales. The registered office is 5th Floor, Salisbury House, London Wall, London, EC2M 5QQ.
The limited liability partnership's principal activities are disclosed in the Members' Report.
These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in January 2017, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling , which is the functional currency of the limited liability partnership. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
These financial statements for the year ended 31 March 2017 are the first financial statements of Sykes Anderson LLP prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 April 2015. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
In accordance with the transitional exemption in section 35 of FRS 102, Sykes Anderson LLP has elected to retain its accounting policies for reported assets, liabilities and equity before the date of transition to FRS 102.
The LLP has not traded during the year or the preceding financial period. During this time the LLP received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.
In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.