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Report of the Members and |
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Unaudited Financial Statements for the Year Ended 30 April 2020 |
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MDW Capital Partners 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 30 April 2020 |
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for |
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MDW Capital Partners LLP |
MDW Capital Partners LLP (Registered number: OC423429) |
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Contents of the Financial Statements |
for the Year Ended 30 April 2020 |
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Report of the Members | 1 |
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Chartered Accountants' Report | 2 |
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Income Statement | 3 |
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Balance Sheet | 4 |
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Reconciliation of Members' Interests | 6 |
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Notes to the Financial Statements | 8 |
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MDW Capital Partners LLP (Registered number: OC423429) |
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Report of the Members |
for the Year Ended 30 April 2020 |
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The members present their report with the financial statements of the LLP for the year ended 30 April 2020. |
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PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of financial consultancy. |
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DESIGNATED MEMBERS |
The designated members during the year under review were: |
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RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £877,406 (2019 - £222,460 profit). |
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MEMBERS' INTERESTS |
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ON BEHALF OF THE MEMBERS: |
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Chartered Accountants' Report to the Members |
on the Unaudited Financial Statements of |
MDW Capital Partners LLP |
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In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited |
Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have |
prepared for your approval the financial statements of MDW Capital Partners LLP for the year ended |
30 April 2020 which comprise the Income Statement, Balance Sheet, Reconciliation of Members' Interests and |
the related notes from the LLP's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the members of MDW Capital Partners LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MDW Capital Partners LLP and state those matters that we have agreed to state to the members of MDW Capital Partners LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MDW Capital Partners LLP and its members, as a body, for our work or for this report. |
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It is your duty to ensure that MDW Capital Partners LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MDW Capital Partners LLP. You consider that MDW Capital Partners LLP is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of MDW Capital Partners LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants |
2nd Floor, Heathmans House |
19 Heathmans Road |
London |
SW6 4TJ |
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MDW Capital Partners LLP (Registered number: OC423429) |
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Income Statement |
for the Year Ended 30 April 2020 |
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Period |
17.7.18 |
Year Ended | to |
30.4.20 | 30.4.19 |
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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876,880 | 222,333 |
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Other operating income |
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OPERATING PROFIT | 4 |
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Interest receivable and similar income |
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PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES |
877,406 |
222,460 |
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PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES |
877,406 |
222,460 |
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Members' remuneration charged as an
expense |
5 |
(877,406 |
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(222,460 |
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PROFIT FOR THE FINANCIAL YEAR
AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
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MDW Capital Partners LLP (Registered number: OC423429) |
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Balance Sheet |
30 April 2020 |
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30.4.20 | 30.4.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO
MEMBERS |
220,454 |
58,394 |
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LOANS AND OTHER DEBTS DUE TO
MEMBERS |
207,121 |
45,061 |
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MEMBERS' OTHER INTERESTS |
Capital accounts | 13,333 | 13,333 |
220,454 | 58,394 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 207,121 | 45,061 |
Members' other interests | 13,333 | 13,333 |
220,454 | 58,394 |
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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 |
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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. |
MDW Capital Partners LLP (Registered number: OC423429) |
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Balance Sheet - continued |
30 April 2020 |
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The financial statements were approved by the members of the LLP and authorised for issue on
and were signed by: |
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MDW Capital Partners LLP (Registered number: OC423429) |
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Reconciliation of Members' Interests |
for the Year Ended 30 April 2020 |
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EQUITY |
Members' other interests |
Members' |
capital |
(classified |
as | Other |
equity) | reserves | Total |
£ | £ | £ |
Balance at 1 May 2019 | 13,333 | - | 13,333 |
Members' remuneration charged as an expense,
including employment and retirement benefit costs |
- |
- |
- |
Profit for the financial year available for
discretionary division among members |
- |
- |
- |
Members' interests after profit for the year | 13,333 | - | 13,333 |
Drawings | - | - | - |
Balance at 30 April 2020 | 13,333 | - | 13,333 |
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DEBT | TOTAL |
Loans and other debts due to | MEMBERS' |
members less any amounts due | INTERESTS |
from members in debtors |
Other |
amounts | Total |
£ | £ |
Amount due to members | 47,829 |
Amount due from members | (2,769 | ) |
Balance at 1 May 2019 | 45,060 | 58,393 |
Members' remuneration charged as an expense,
including employment and retirement benefit costs |
877,406 |
877,406 |
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Profit for the financial year available for
discretionary division among members |
- |
- |
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Members' interests after profit for the year | 922,466 | 935,799 |
Drawings | (715,345 | ) | (715,345 | ) |
Amount due to members | 207,121 |
Amount due from members | - |
Balance at 30 April 2020 | 207,121 | 220,454 |
MDW Capital Partners LLP (Registered number: OC423429) |
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Reconciliation of Members' Interests |
for the Year Ended 30 April 2020 |
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EQUITY |
Members' other interests |
Members' |
capital |
(classified |
as | Other |
equity) | reserves | Total |
£ | £ | £ |
Balance at 17 July 2018 | - | - | - |
Members' remuneration charged as an expense,
including employment and retirement benefit costs |
- |
- |
- |
Profit for the financial year available for
discretionary division among members |
- |
- |
- |
Members' interests after profit for the year | - | - | - |
Introduced by members | 13,333 | - | 13,333 |
Drawings | - | - | - |
Balance at 30 April 2019 | 13,333 | - | 13,333 |
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DEBT | TOTAL |
Loans and other debts due to | MEMBERS' |
members less any amounts due | INTERESTS |
from members in debtors |
Other |
amounts | Total |
£ | £ |
Amount due to members | - |
Amount due from members | - |
Balance at 17 July 2018 | - | - |
Members' remuneration charged as an expense,
including employment and retirement benefit costs |
222,460 |
222,460 |
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Profit for the financial year available for
discretionary division among members |
- |
- |
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Members' interests after profit for the year | 222,460 | 222,460 |
Introduced by members | - | 13,333 |
Drawings | (177,399 | ) | (177,399 | ) |
Amount due to members | 45,061 |
Amount due from members | - |
Balance at 30 April 2019 | 45,061 | 58,394 |
MDW Capital Partners LLP (Registered number: OC423429) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
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1. | STATUTORY INFORMATION |
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MDW Capital Partners LLP is a limited liability partnership registered in England and Wales. The |
partnership's registered address is 2nd Floor, Heathmans House, 19 Heathmans Road, London, England, |
SW6 4TJ. |
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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 |
The preparation of the financial statements requires management to make judgements, estimates and |
assumptions that affect the amounts reported. These estimates and judgements are continually reviewed |
and are based on experience and other factors, including expectations of future events that are believed |
to be reasonable under the circumstances. In the opinion of the directors there are no judgements or key |
sources of estimation uncertainty that affect the preparation of the financial statements. |
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Turnover |
Turnover is stated net of VAT. Turnover represents the value of services provided under contracts to the |
extent that there is a right to consideration and is recorded at the value of the consideration due. Where |
a contract has only been partially completed at the balance sheet date, turnover represents the value of |
the services provided to date based on a proportion of the total contract value. Where payments are |
received from customers in advance of services provided, the amounts are recorded as Deferred Income |
and included as part of Creditors due within one year. |
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Tangible fixed assets |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period |
of the lease. |
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3. | EMPLOYEE INFORMATION |
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The average number of employees during the year was NIL (2019 - NIL). |
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4. | OPERATING PROFIT |
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The operating profit is stated after charging: |
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Period |
17.7.18 |
Year Ended | to |
30.4.20 | 30.4.19 |
£ | £ |
Depreciation - owned assets |
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MDW Capital Partners LLP (Registered number: OC423429) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
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5. | INFORMATION IN RELATION TO MEMBERS |
Period |
17.7.18 |
Year Ended | to |
30.4.20 | 30.4.19 |
£ | £ |
Members' remuneration charged as an expense |
Other payments | 877,406 | 222,460 |
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6. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 May 2019 |
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Additions |
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At 30 April 2020 |
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DEPRECIATION |
At 1 May 2019 |
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Charge for year |
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At 30 April 2020 |
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NET BOOK VALUE |
At 30 April 2020 |
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At 30 April 2019 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.20 | 30.4.19 |
£ | £ |
Trade debtors |
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Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.20 | 30.4.19 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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