Limited Liability Partnership Registration No. OC356122 (England and Wales)
LORD INTERIM MANAGEMENT LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
5 APRIL 2017
05 April 2017
PAGES FOR FILING WITH REGISTRAR
LORD INTERIM MANAGEMENT LLP
LIMITED LIABILITY PARTNERSHIP INFORMATION
Designated members
Mr J J Lord
Mr R Marshall
Mrs K Lord
Mrs H Marshall
Limited liability partnership number
OC356122
Registered office
Crown House
The Square
Alvechurch
Birmingham
United Kingdom
B48 7LA
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Royal Bank of Scotland
57 Calthorpe Road
Edgbaston
Birmingham
B15 1TT
LORD INTERIM MANAGEMENT LLP
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
LORD INTERIM MANAGEMENT LLP
BALANCE SHEET
AS AT 5 APRIL 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Tangible assets
3
90,145
112,879
Current assets
Debtors
4
97,615
74,235
Cash at bank and in hand
30,317
33,967
127,932
108,202
Creditors: amounts falling due within one year
5
(155,960)
(142,781)
Net current liabilities
(28,028)
(34,579)
Total assets less current liabilities
62,117
78,300
Creditors: amounts falling due after more than one year
6
(58,349)
(129,175)
Net assets/(liabilities) attributable to members
3,768
(50,875)
Represented by:
Members' other interests
Members' capital classified as equity
1,654
(29,545)
Other reserves classified as equity
2,114
(21,330)
3,768
(50,875)
Total members' interests
Members' other interests
3,768
(50,875)
T
he members of the
limited liability partnership
have elected not to include a copy of the profit and loss account within the financial statements.
LORD INTERIM MANAGEMENT LLP
BALANCE SHEET (CONTINUED)
AS AT 5 APRIL 2017
2017
2016
Notes
£
£
£
£
- 2 -
For the financial year ended 5 April 2017 the limited liability partnership 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 limited liability partnerships.
limited liability partnership
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 limited liability partnerships.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships ' regime.
and delivered
in accordance with the provisions applicable to
limited liability partnerships
subject to the small
limited liability partnerships
' regime.
The financial statements were approved by the members and authorised for issue on
29 June 2017
29 June 2017
and are signed on their behalf by:
Mr R Marshall
Designated member
Limited Liability Partnership Registration No. OC356122
LORD INTERIM MANAGEMENT LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2017
- 3 -
1
Accounting policies
Limited liability partnership information
Lord Interim Management LLP is a limited liability partnership incorporated in England and Wales. The registered office is Crown House, The Square, Alvechurch, Birmingham, United Kingdom, B48 7LA.
The limited liability partnerships's principal activities are disclosed in the Members' Report.
1.1
Accounting convention
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.
1.2
Turnover
Turnover
represents the amounts recoverable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time.
If, at the Balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the Limited Liability Partnership), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the Balance sheet date are carried forward as work in progress.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
20% on cost
Motor vehicles
25% on reducing balance and 15% on reducing balance
2
Employees
The average number of persons (excluding members) employed by the partnership during the year was 1 (2016 - 1).
LORD INTERIM MANAGEMENT LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2017
- 4 -
3
Tangible fixed assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 6 April 2016
20,195
177,147
197,342
Disposals
-
(25,000)
(25,000)
At 5 April 2017
20,195
152,147
172,342
Depreciation and impairment
At 6 April 2016
19,891
64,572
84,463
Depreciation charged in the year
244
17,546
17,790
Eliminated in respect of disposals
-
(20,056)
(20,056)
At 5 April 2017
20,135
62,062
82,197
Carrying amount
At 5 April 2017
60
90,085
90,145
At 5 April 2016
304
112,575
112,879
4
Debtors
2017
2016
Amounts falling due within one year:
£
£
Trade debtors
16,786
38,010
Other debtors
80,829
36,225
97,615
74,235
Total debtors
97,615
74,235
5
Creditors: amounts falling due within one year
2017
2016
£
£
Bank loans and overdrafts
53,119
35,413
Trade creditors
81,453
81,285
Other taxation and social security
18,066
15,490
Other creditors
3,322
10,593
155,960
142,781
LORD INTERIM MANAGEMENT LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2017
- 5 -
6
Creditors: amounts falling due after more than one year
2017
2016
£
£
Bank loans and overdrafts
58,349
129,175