Registered No. OC418357 (England and Wales)
Briggs & Briggs LLP
Unaudited Partnership accounts
for the year ended 30 April 2020
Briggs & Briggs LLP
Unaudited Partnership accounts
Contents
Briggs & Briggs LLP
LLP Information
for the year ended 30 April 2020
Designated members
Mrs Alison Briggs
Registered Number
OC418357 (England and Wales)
Registered Office
5 BEDFORD PLACE
BRIGHTON
BN1 2PT
UNITED KINGDOM
Accountants
Integrated Accounts Ltd
22 Little Preston Street
Brighton
East Sussex
BN1 2HQ
Briggs & Briggs LLP
Income statement
for the year ended 30 April 2020
Cost of sales
(49,087)
(29,326)
Gross profit/(loss)
3,156
(4,530)
Administrative expenses
(59,005)
(49,250)
Operating loss
(55,849)
(53,780)
(Loss)/gain due to foreign exchange differences
(987)
169
Interest payable and similar charges
(4,257)
(3,120)
Loss for the financial year available for discretionary division among members
(61,093)
(56,731)
Briggs & Briggs LLP
Statement of financial position
as at
30 April 2020
Tangible assets
240,594
293,027
Cash at bank and in hand
(497)
2,961
Creditors: amounts falling due within one year
(7,925)
(6,441)
Net current liabilities
(8,422)
(2,686)
Total assets less current liabilities
232,172
290,341
Creditors: amounts falling due after more than one year
(81,797)
(80,730)
Net assets attributable to members
150,375
209,611
Loans and other debts due to members
211,468
266,342
Other reserves
(61,093)
(56,731)
Loans and other debts due to members
211,468
266,342
Members' other interests
(61,093)
(56,731)
For the year ending 30 April 2020 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the members on 27 November 2020.
Mrs Alison Briggs
Designated member
Limited Liability Partnership Registration No. OC418357
Briggs & Briggs LLP
Reconciliation of Members' Interests
for the year ended 30 April 2020
Other reserves
Net loans and other debts due to/from members
Total members' interests
Balance at 1 May 2019
-
266,342
266,342
Profit for the year available for discretionary division among members
(61,093)
Members' interests after profit for the year
(61,093)
266,342
266,342
Other divisions of profits
-
(56,731)
(56,731)
Introduced by members
1,900
1,900
Repaid to members
(43)
(43)
Balance at 30 April 2020
(61,093)
211,468
211,468
Briggs & Briggs LLP
Notes to the Accounts
for the year ended 30 April 2020
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
18% Reducing Balance
Transactions in foreign currencies are recorded using the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date and the gains or losses on translation are included in the profit and loss account.
Briggs & Briggs LLP is a limited liability partnership, incorporated in England and Wales, registration number OC418357. Its registered office is 5 BEDFORD PLACE, BRIGHTON, BN1 2PT, UNITED KINGDOM.
3
Tangible fixed assets
Plant & machinery
Cost or valuation
At cost
Charge for the year
52,433
5
Creditors: amounts falling due within one year
2020
2019
Briggs & Briggs LLP
Notes to the Accounts
for the year ended 30 April 2020
6
Creditors: amounts falling due after more than one year
2020
2019
Other creditors
81,797
80,730
7
Loans and other debts due to members
2020
2019
Members' capital classified as a liability
297,000
297,000
Loans from members
5,397
3,540
Amounts due to members in respect of profits
(90,929)
(34,198)
Amounts falling due within one year
211,468
-
Amounts falling due after more than one year
-
266,342
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
8
Transactions with related parties
The Partnership is in receipt on an interest bearing loan from Exploit Technology Solutions Ltd in which the individual partners have a controlling interest.
The Partnership is wholly controlled by it's designated members as detailed.
10
Average number of employees
During the year the average number of employees was 0 (2019: 0).
Briggs & Briggs LLP
Income and Expenses
for Partnership Tax Return
for the year ended 30 April 2020
This schedule does not form part of the statutory accounts of the LLP
Other direct costs
49,087
29,326
Gross profit/(loss)
3,156
(4,530)
General administrative expenses
3,573
-
Advertising, promotion and entertainment
250
167
Legal and professional costs
929
2,654
Interest and alternative finance payments
4,067
3,043
Other finance charges
190
77
Depreciation and loss/(profit) on sale
53,420
45,563
Loss before members' remuneration and profit shares
(61,093)
(56,731)