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REPORT OF THE MEMBERS AND |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2019 |
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3V EXPRESS LLP |
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REGISTERED NUMBER:
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REPORT OF THE MEMBERS AND |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2019 |
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FOR |
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3V EXPRESS LLP |
3V EXPRESS LLP (REGISTERED NUMBER: OC354465) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 April 2019 |
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General information | 1 |
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Report of the members | 2 |
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Income statement | 3 |
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Balance sheet | 4 |
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Notes to the financial statements | 5 |
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3V EXPRESS LLP |
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GENERAL INFORMATION |
for the Year Ended 30 April 2019 |
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DESIGNATED MEMBERS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Langley House |
Park Road |
East Finchley |
London |
N2 8EY |
3V EXPRESS LLP (REGISTERED NUMBER: OC354465) |
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REPORT OF THE MEMBERS |
for the Year Ended 30 April 2019 |
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The members present their report with the financial statements of the LLP for the year ended 30 April 2019. |
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PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of providing freight services. |
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EVENTS SINCE THE END OF THE YEAR |
Information relating to events since the end of the year is given in the notes to the financial statements. |
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DESIGNATED MEMBERS |
The designated members during the year under review were: |
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RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The loss for the year before members' remuneration and profit shares was €99,257 (2018 - €90,402 loss). |
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MEMBERS' INTERESTS |
Policy for drawings, subscription and repayment of members' capital is as follows: |
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Drawings |
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The policy for members' drawings is to distribute the majority of profit during the financial year, taking into account the |
need to maintain sufficient funds to finance the working capital and other needs of the business. The designated |
members set the level of members' drawings and review this annually. |
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Capital |
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The capital requirements of the business are determined from time to time by the designated members. Each member is |
required to subscribe a proportion of this capital. The amount of capital subscribed by each member is linked to the |
profit share allocated to that member. No interest is paid on capital. The repayment of capital is dependent on members' |
capital requirement. Members leaving the LLP may have their capital retained unless other arrangements have been |
agreed between the member and the designated members. |
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Members' profit shares |
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Members are remunerated solely out of the profits of the LLP. The designated members set members' profit shares in |
advance and review the allocation. Members' profit shares comprise a variable amount, the value of which is dependent |
upon the level of profit achieved in accordance with the profit share allocated to that member. Profits are allocated in |
full and there is transparency amongst the members of the total income allocated to each individual member. |
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This report has been prepared in accordance with the special 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. |
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ON BEHALF OF THE MEMBERS: |
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3V EXPRESS LLP (REGISTERED NUMBER: OC354465) |
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INCOME STATEMENT |
for the Year Ended 30 April 2019 |
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30.4.19 | 30.4.18 |
Notes | € | € |
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TURNOVER |
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Cost of sales | ( |
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GROSS PROFIT |
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Administrative expenses | ( |
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OPERATING LOSS and |
LOSS FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
( |
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( |
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3V EXPRESS LLP (REGISTERED NUMBER: OC354465) |
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BALANCE SHEET |
30 April 2019 |
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30.4.19 | 30.4.18 |
Notes | € | € | € | € |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET ASSETS ATTRIBUTABLE TO
MEMBERS |
412,000 |
667,574 |
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LOANS AND OTHER DEBTS DUE TO
MEMBERS |
7 |
412,000 |
667,574 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 7 | 412,000 | 667,574 |
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The members acknowledge their responsibilities for: |
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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 |
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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. |
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The financial statements were approved by the members of the LLP on
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3V EXPRESS LLP (REGISTERED NUMBER: OC354465) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 April 2019 |
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1. | STATUTORY INFORMATION |
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3v Express LLP is registered in England and Wales. The LLP's registered number and registered office address |
can be found on the General Information page. |
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The presentation currency of the financial statements is the Euro (€). |
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The financial statements have previously been presented in USD. The company's trade is now predominately in |
Euros and is now considered the functional currency of the company. Therefore the members have decided to |
minimise foreign exchange differences to prepare the accounts in Euros. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Computer equipment - 33 % on reducing balance. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into EUR at the rates of exchange ruling at the balance |
sheet date. Transactions in foreign currencies are translated into EUR at the rate of exchange ruling at the date |
of transaction. Exchange differences are taken into account in arriving at the operating result. |
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3. | OPERATING LOSS |
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The operating loss is stated after charging: |
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30.4.19 | 30.4.18 |
€ | € |
Depreciation - owned assets |
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3V EXPRESS LLP (REGISTERED NUMBER: OC354465) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 April 2019 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 May 2018 |
and 30 April 2019 |
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DEPRECIATION |
At 1 May 2018 |
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Charge for year |
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At 30 April 2019 |
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NET BOOK VALUE |
At 30 April 2019 |
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At 30 April 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.19 | 30.4.18 |
€ | € |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.19 | 30.4.18 |
€ | € |
Trade creditors |
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Other creditors |
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7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
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At the balance sheet date, in 'Loans and other debts due to members', €412,000 was split €406,317 and €5,683 |
to V. Bunimov and Corrudda B.V, respectively, the members of the LLP during the year under review.The |
amounts are unsecured and rank equally amongst themselves and in relation to other creditors who are unsecured |
in the event of a winding up. Other than the provisions contained in sections 238, 239, 245 and 423 of the |
Insolvency Act 2006 dealing with transactions at an undervalue, preferences, invalid floating charges and |
transactions defrauding creditors respectively and also contained in applicable common law under the |
anti-deprivation principle no additional legally enforceable protection is accorded to unsecured creditors of the |
LLP by its constitution, and no restrictions or limitations exist on the ability of the members to reduce the |
amount of any members' other interests other than the provisions in the Insolvency Act 2006 and common law. |
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8. | POST BALANCE SHEET EVENTS |
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After the balance sheet date there was a change in the structure of the LLP. On the 10 February 2020 Mr. |
S.Gkovostis was appointed member of the LLP and Corrudda B.V terminated its membership. |