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REPORT OF THE MEMBERS AND |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019 |
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DOMIUS CAPITAL ADVISORS LLP |
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REGISTERED NUMBER:
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REPORT OF THE MEMBERS AND |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019 |
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FOR |
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DOMIUS CAPITAL ADVISORS LLP |
DOMIUS CAPITAL ADVISORS LLP (REGISTERED NUMBER: OC383253) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 March 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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Abridged Balance Sheet | 4 |
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Notes to the Financial Statements | 6 |
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DOMIUS CAPITAL ADVISORS LLP |
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GENERAL INFORMATION |
For The Year Ended 31 March 2019 |
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DESIGNATED MEMBERS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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DOMIUS CAPITAL ADVISORS LLP (REGISTERED NUMBER: OC383253) |
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REPORT OF THE MEMBERS |
For The Year Ended 31 March 2019 |
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The members present their report with the financial statements of the LLP for the year ended 31 March 2019. |
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DESIGNATED MEMBERS |
The designated members during the period under review were: |
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D Stratikopoulos |
Domus Capital Advisors Ltd |
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RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £217,098 (2018 - £43,845 profit). |
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MEMBERS' INTERESTS |
Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such |
drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP. |
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New members are required to subscribe a minimum level of capital and in subsequent years members are invited to |
subscribe for further capital, the amounts of which are determined by the performance and seniority of those members. |
On retirement, capital is repaid to members. |
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STATEMENT OF MEMBERS' RESPONSIBILITIES |
The members are responsible for preparing the Report of the Members and the financial statements in accordance with |
applicable law and regulations. |
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Legislation applicable to limited liability partnerships requires the members to prepare financial statements for each |
financial year. Under that law the members have elected to prepare the financial statements in accordance with United |
Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), |
including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of |
Ireland'. Under legislation applicable to limited liability partnerships the members must not approve the financial |
statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit |
or loss of the LLP for that period. In preparing these financial statements, the members are required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will
continue in business. |
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The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's |
transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to |
ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability |
Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible |
for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud |
and other irregularities. |
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ON BEHALF OF THE MEMBERS: |
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DOMIUS CAPITAL ADVISORS LLP (REGISTERED NUMBER: OC383253) |
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INCOME STATEMENT |
For The Year Ended 31 March 2019 |
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2019 | 2018 |
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 PROFIT and |
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
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DOMIUS CAPITAL ADVISORS LLP (REGISTERED NUMBER: OC383253) |
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ABRIDGED BALANCE SHEET |
31 March 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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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 |
151,824 |
92,597 |
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LOANS AND OTHER DEBTS DUE TO
MEMBERS |
5 |
101,824 |
42,597 |
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MEMBERS' OTHER INTERESTS |
Capital accounts | 50,000 | 50,000 |
151,824 | 92,597 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 5 | 101,824 | 42,597 |
Members' other interests | 50,000 | 50,000 |
Amounts due from members | - | (104 | ) |
151,824 | 92,493 |
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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. |
DOMIUS CAPITAL ADVISORS LLP (REGISTERED NUMBER: OC383253) |
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ABRIDGED BALANCE SHEET - continued |
31 March 2019 |
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The financial statements were approved by the members of the LLP on
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DOMIUS CAPITAL ADVISORS LLP (REGISTERED NUMBER: OC383253) |
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NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 March 2019 |
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1. | STATUTORY INFORMATION |
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Domius Capital Advisors 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 |
The financial statements have been prepared in accordance with the provisions of Section 1A ''Smaller Entities'' |
of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of |
Ireland'' and the Companies Act 2006. The financial statements have been prepared under the historical cost |
convention. |
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Turnover |
Turnover represents sales of corporate and financial consultancy services regulated by the Financial Conduct |
Authority, excluding value added tax, performed during the year. Turnover is recognised as the right to |
consideration arises and adjustments are made for accrued and deferred income. |
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Tangible fixed assets |
Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Cost includes costs directly |
attributable to making the asset capable of operating as intended by management. |
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Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life: |
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Computer equipment | - | 33.33% on cost |
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Financial instruments |
The company enters into basic financial instruments, which result in the recognition of financial assets and |
liabilities. Financial instruments are recognised at amortised cost. At the end of each reporting period financial |
instruments are assessed for evidence of impairment, and changes are recognised in profit or loss. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling 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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Hire purchase and leasing commitments |
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
DOMIUS CAPITAL ADVISORS LLP (REGISTERED NUMBER: OC383253) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 March 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Members' participation rights |
Members' participation rights are the rights of the member against the LLP that arise under the members' |
agreement (for example, in respect of amount subscribed or otherwise contributed, remuneration and profits). |
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Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the |
LLP's perspective, either a financial liability or equity. A member's participation right results in a liability unless |
the right to any payment is discretionary on the part of the LLP. |
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Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if |
the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an |
unconditional right, such amounts are classed as liabilities. |
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Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse |
payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as |
an expense in the Profit and Loss Account in the relevant year. To the extent that they remain unpaid at the |
period end, they are shown as liabilities in the Balance Sheet. |
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Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has |
an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an |
expense. They are therefore shown as a residual amount available for discretionary division among members in |
the Profit and Loss Account and are equity appropriations in the Balance Sheet. |
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Other amounts applied to members, for example remuneration paid under an employment contract and interest |
on capital balances, are treated in the same was as all other divisions of profits, as described above, according to |
whether the LLP has, in each case, an unconditional right to refuse payment. |
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All amounts due to members that are classified as liabilities are presented in the Balance Sheet within 'Loans and |
other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration |
charged as an expense'. Amounts due to members that are classified as equity are shown in the Balance Sheet |
within 'Members' other interest'. |
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3. | INFORMATION IN RELATION TO MEMBERS |
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2019 | 2018 |
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The average number of members during the year was | 5 | 3 |
5 | 3 |
DOMIUS CAPITAL ADVISORS LLP (REGISTERED NUMBER: OC383253) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 March 2019 |
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4. | TANGIBLE FIXED ASSETS |
Totals |
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COST |
At 1 April 2018 |
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Additions |
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At 31 March 2019 |
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DEPRECIATION |
At 1 April 2018 |
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Charge for year |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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5. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
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In the absence of agreement to the contrary, unsecured debt due to members will rank equally with debts due to |
other unsecured creditors in a winding up. |
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6. | ULTIMATE CONTROLLING PARTY |
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D Stratikopoulos is considered to be the ultimate controlling party by virtue of his ability to act in respect of the |
financial and operating policies. |