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Unaudited Financial Statements |
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for the Year Ended 30 November 2017 |
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for |
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Brennan Ayre O'Neill LLP |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 November 2017 |
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for |
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Brennan Ayre O'Neill LLP |
Brennan Ayre O'Neill LLP (Registered number: OC379439) |
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Contents of the Financial Statements |
for the Year Ended 30 November 2017 |
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Page |
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General Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Brennan Ayre O'Neill LLP |
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General Information |
for the Year Ended 30 November 2017 |
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DESIGNATED MEMBERS: |
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R P O'Neill |
J E Williams |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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68 Argyle Street |
Birkenhead |
CH41 6AF |
Brennan Ayre O'Neill LLP (Registered number: OC379439) |
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Balance Sheet |
30 November 2017 |
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30.11.17 | 30.11.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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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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CREDITORS |
Amounts falling due after more than one year | 7 |
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NET ASSETS ATTRIBUTABLE TO
MEMBERS |
62,480 |
92,811 |
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LOANS AND OTHER DEBTS DUE TO
MEMBERS |
9 |
62,480 |
92,811 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | 62,480 | 92,811 |
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The members acknowledge their responsibilities for: |
(a) |
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 |
(b) |
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. |
Brennan Ayre O'Neill LLP (Registered number: OC379439) |
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Balance Sheet - continued |
30 November 2017 |
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In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered. |
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The financial statements were approved by the members of the LLP on
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Brennan Ayre O'Neill LLP (Registered number: OC379439) |
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Notes to the Financial Statements |
for the Year Ended 30 November 2017 |
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1. | STATUTORY INFORMATION |
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Brennan Ayre O'Neill 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 Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Significant judgements and estimates |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, |
including expectations of future events that are believed to be reasonable under the circumstances. The company |
makes estimates and assumptions concerning the future. |
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The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The |
estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of |
assets and liabilities within the next financial year are discussed below; |
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When an asset is purchased it is categorised into an asset class, the depreciation policy of each class estimates the |
economic life of all assets within the class. |
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The depreciation policy of each asset class is determined by management and reviewed regularly for appropriateness. |
The depreciation policy adopted is based on historical experience as well as considering the future events which may |
impact the useful economic life of all assets within each class, such as changes in market demands. |
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In addition FRS 102 requires an entity to assess at each reporting date whether there is any indication that assets |
within a class may be impaired i.e. the recoverable amount of the asset is less than the carrying amount. If any such |
indication exists, management are required to estimate the recoverable amount of the individual assets concerned. |
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Management judgement is applied to determine if revenue and costs should be recognised in the current period. |
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Changes in accounting policies |
The principal accounting policies adopted in the preparation of the financial statements are set out below. |
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These financial statements for the year ended 30 November 2017 are the first financial statements that comply with |
FRS102 Section 1A for small entities. The date of transition is 1 December 2015. |
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The transition to FRS 102 Section 1A for small entities has resulted in no changes in the accounting policies to those |
used previously. |
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Turnover |
Income is recognised on an accruals basis according to delivery of the goods and services supplied. |
Brennan Ayre O'Neill LLP (Registered number: OC379439) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 November 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Financial instruments |
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, and |
directors' loans. |
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Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted |
amount of the cash or other consideration expected to be paid or received. |
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Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective |
evidence of impairment. If objective evidence of impairment is found, an impairment loss in recognised in the |
Statement of Income and Retained Earnings. |
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Pension costs and other post-retirement benefits |
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are |
charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEE INFORMATION |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 December 2016 |
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Additions |
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Disposals | ( |
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At 30 November 2017 |
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DEPRECIATION |
At 1 December 2016 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 November 2017 |
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NET BOOK VALUE |
At 30 November 2017 |
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At 30 November 2016 |
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Brennan Ayre O'Neill LLP (Registered number: OC379439) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 November 2017 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 December 2016 |
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Additions |
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At 30 November 2017 |
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DEPRECIATION |
At 1 December 2016 |
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Charge for year |
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At 30 November 2017 |
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NET BOOK VALUE |
At 30 November 2017 |
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At 30 November 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.17 | 30.11.16 |
£ | £ |
Trade debtors |
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Prepayments |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.17 | 30.11.16 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Social security and other taxes |
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VAT | 31,893 | 38,454 |
Other creditors |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
30.11.17 | 30.11.16 |
£ | £ |
Hire purchase contracts |
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Brennan Ayre O'Neill LLP (Registered number: OC379439) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 November 2017 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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30.11.17 | 30.11.16 |
£ | £ |
Hire purchase contracts | 90,065 | 59,594 |
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Hire purchase contracts are secured on the assets concerned. |
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9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
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As at 30 November 2017, Brennan Ayre O'Neill LLP owed £62,480 to members (2016 - £92,811) which are |
classified as 'loans and other debts due to members' in the balance sheet. No interest has been charged to the LLP in |
respect of these loans which are repayable on demand. In the event of the LLP being wound up, these liabilities will |
rank equally with the debts due to unsecured creditors. |
There were no restrictions on the ability of members to reduce the amount of members' other interests in the balance |
sheet as at 30 November 2017 or 30 November 2016. |