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Unaudited Financial Statements for the Year Ended 31 March 2018 |
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Valhalla Private Client Services LLP |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2018 |
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Valhalla Private Client Services LLP |
Valhalla Private Client Services LLP (Registered number: OC380193) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2018 |
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General Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Valhalla Private Client Services LLP |
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General Information |
for the Year Ended 31 March 2018 |
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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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Valhalla House |
30 Ashby Road |
Tove Valley Business Park |
Towcester |
Northamptonshire |
NN12 6PG |
Valhalla Private Client Services LLP (Registered number: OC380193) |
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Balance Sheet |
31 March 2018 |
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31.3.18 | 31.3.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET ASSETS ATTRIBUTABLE TO MEMBERS | 2,889 | 33,462 |
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LOANS AND OTHER DEBTS DUE TO MEMBERS | 8 | 2,889 | 33,462 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 8 | 2,889 | 33,462 |
Amounts due from members | 6 | - | (87,979 | ) |
2,889 | (54,517 | ) |
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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. |
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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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Valhalla Private Client Services LLP (Registered number: OC380193) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2018 |
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1. | STATUTORY INFORMATION |
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Valhalla Private Client Services 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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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Fee income represents revenue earned during the year under a wide variety of contracts to provide professional services and is recorded |
to the balance sheet date. |
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Tangible fixed assets |
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Improvements to property | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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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 |
Improvements | Fixtures |
to | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2017 |
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Additions |
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At 31 March 2018 |
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DEPRECIATION |
At 1 April 2017 |
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Charge for year |
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At 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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Valhalla Private Client Services LLP (Registered number: OC380193) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 April 2017 |
and 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Trade debtors |
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Amounts owed by related parties | 39,810 | 342,548 |
Amounts due from members | - | 87,979 |
Other debtors |
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VAT |
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Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Loans |
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Trade creditors |
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Amounts owed to related parties | 76,789 | 785,788 |
Social security and other taxes |
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VAT | 7,789 | - |
Other creditors |
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Accruals and deferred income |
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Accrued expenses |
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8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
31.3.18 | 31.3.17 |
£ | £ |
Amounts owed to members in respect of profits | 2,889 | 33,462 |
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Falling due within one year | 2,889 | 33,462 |
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Shares of profits shall not be drawn out unless and until there are surplus funds available after providing for all anticipated future liabilities |
that may become payable in respect of the LLP's business activities carried on in the current financial year, and any other such balances |
that have been agreed to be left in the LLP by the members. |
Valhalla Private Client Services LLP (Registered number: OC380193) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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9. | RELATED PARTY DISCLOSURES |
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TaxspecialEFX LLP |
Valhalla Private Client Services LLP incurred expenses of £120 (2017: £958) on behalf of this LLP. |
Valhalla Private Client Services LLP invoiced this LLP £9,240 (2017: £300,000) for management services. |
This LLP invoiced Valhalla Private Client Services £204,000 (2017: £2,660,788) for management services. |
Included in creditors is £73,583 (2017: £785,788), due to TaxspecialEFX LLP. |
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Beneficial House (Birmingham) Regeneration LLP |
Valhalla Private Client Services LLP invoiced to this LLP £Nil (2017: £3,825) in respect of professional services. |
Included in trade debtors is a balance due from this LLP of £Nil (2017: £3,825). |
The amount owed is interest free and with no specific terms of repayment. |
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TaxspecialEFX (Peterlee) LLP |
£NIL (2017: £139,311) was advanced to TaxspecialEFX (Peterlee) LLP during the year. |
Included in debtors is a balance due from this LLP of £Nil (2017: £197,111). |
The amount owed is interest free and with no specific terms of repayment. |
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GHL Regeneration LLP |
Valhalla Private Client Services LLP incurred expenses of £Nil (2017: £18,260) on behalf of GHL Regeneration LLP. |
Included in debtors is a balance due from this LLP of £Nil (2017: £18,260). |
The amount owed was interest free and with no specific terms of repayment. |
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Flying Tiger MA LLP (formerly Prescience MA LLP) |
Valhalla Private Client Services LLP incurred expenses of £Nil (2017: £70,094) on behalf of Prescience MA LLP. |
Included in debtors is a balance due from this LLP of £Nil (2017: £70,094). |
The amount owed was interest free and with no specific terms of repayment. |
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TaxspecialEFX LLP, Beneficial House (Birmingham) Regeneration LLP, TaxspecialEFX (Peterlee) LLP, GHL Regeneration LLP and |
Flying Tiger MA LLP are deemed to be related parties by virtue of common designated members. |
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OTHER RELATED PARTIES |
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Kilgarth Investments Limited |
In 2017, £9,777 was advanced to the above-named company.Included in debtors at the year end was a balance of £Nil (2017: £9,777). |
The amount owed was interest free and with no specific terms of repayment. |
There were directors of the above company in common to designated members of the LLP during the year. |
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Movie Tek Ltd |
Valhalla Private Client Services LLP incurred expenses of £Nil (2017: £27,593) on behalf of Movie Tek Ltd. |
Included in debtors is a balance due from this Company of £Nil (2017: £27,593). |
The amount owed was interest free and with no specific terms of repayment. |
There were directors of the above company in common to designated members of the LLP during the year. |
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EIS Capital Ltd |
Valhalla Private Client Services LLP incurred expenses of £6,680 (2017: £Nil) on behalf of EIS Capital Ltd. |
Included in debtors is a balance due from this company of £6,680 (2017: £Nil). |
The amount owed is interest free and with no specific terms of repayment. |
There were directors of the above company in common to designated members of the LLP during the year. |
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V Rights Ltd |
Valhalla Private Client Services LLP incurred expenses of £2,817 (2017: £Nil) on behalf of V Rights Ltd. |
Included in debtors is a balance due from this company of £2,817 (2017: £Nil). |
The amount owed is interest free and with no specific terms of repayment. |
There were directors of the above company in common to designated members of the LLP during the year. |
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22 LDC Ltd |
Valhalla Private Client Services LLP incurred expenses of £21,794 (2017: £Nil) on behalf of 22 LDC Ltd. |
Included in creditors is a balance due to this company of £3,206 (2017: £Nil). |
The amount owed is interest free and with no specific terms of repayment. |
There were directors of the above company in common to designated members of the LLP during the year |
Valhalla Private Client Services LLP (Registered number: OC380193) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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10. | POST BALANCE SHEET EVENTS |
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Mr M Harrison was appointed as a member of the LLP on 1 April 2018. |