Registration number:
Panthera Finance LLP
for the Year Ended 31 March 2021
Panthera Finance LLP
Contents
Limited liability partnership information |
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Accountants' Report |
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Financial Statements |
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Balance Sheet |
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Statement of Changes in Members’ Interests |
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Notes to the Financial Statements |
Panthera Finance LLP
Limited liability partnership information
Designated members |
T C Kemp Panthera Private Office LLP |
Registered office |
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Accountants |
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Chartered Accountants' Report to the Members on the Preparation of the Unaudited Statutory Accounts of
Panthera Finance LLP
for the Year Ended 31 March 2021
In order to assist you to fulfil your duties under the Companies Act 2006, as applied to limited liability partnerships, we have prepared for your approval the accounts of Panthera Finance LLP for the year ended 31 March 2021 set out on pages 3 to 8 from the limited liability partnership's accounting records and from information and explanations you have given us.
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 at
http://www.icaew.com/en/members/regulations-standards-and-guidance.
This report is made solely to the members of Panthera Finance LLP, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Panthera Finance LLP and state those matters that we have agreed to state to the members of Panthera Finance LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Panthera Finance LLP and its members as a body for our work or for this report.
It is your duty to ensure that Panthera Finance LLP has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Panthera Finance LLP. You consider that Panthera Finance LLP is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Panthera Finance 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 accounts.
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Chartered Accountants
104 New London Road
Chelmsford
Essex
CM2 0RG
Panthera Finance LLP
(Registration number: OC424126)
Balance Sheet as at 31 March 2021
Note |
2021 |
2020 |
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Fixed assets |
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Tangible assets |
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- |
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Current assets |
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Debtors |
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Cash and short-term deposits |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current (liabilities)/assets |
( |
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Net assets attributable to members |
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Represented by: |
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Loans and other debts due to members within one year |
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Loan due to members |
18,162 |
19,878 |
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18,162 |
19,878 |
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Total members' interests |
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Amounts due from members |
- |
(6,893) |
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Loans and other debts due to members |
18,162 |
19,878 |
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18,162 |
12,985 |
For the year ending 31 March 2021 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, as applied to small limited liability partnerships.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships, and the option not to file the Profit and Loss Account has been taken.
The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.
The financial statements of Panthera Finance LLP (registered number OC424126) were approved by the
Panthera Finance LLP
(Registration number: OC424126)
Balance Sheet as at 31 March 2021 (continued)
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Designated member
Panthera Finance LLP
Statement of Changes in Members’ Interests
At 31 March 2021
Loans and other debts due to/(from) members |
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Members' capital classified as a liability |
Members' other amounts |
Total |
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Members' interest at 1 April 2020 |
19,878 |
- |
19,878 |
Members' remuneration charged as an expense |
- |
241,856 |
241,856 |
At 31 March 2021 |
19,878 |
241,856 |
261,734 |
Loans and other debts due to/(from) members |
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Members' other amounts |
Total |
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Members' interest at 1 April 2019 |
130,756 |
130,756 |
Members' remuneration charged as an expense |
275,229 |
275,229 |
Members' interests after total comprehensive income |
405,985 |
405,985 |
Drawings (including tax payments) |
(393,000) |
(393,000) |
At 31 March 2020 |
12,985 |
12,985 |
2021 |
2020 |
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Due within one year |
Total |
Due within one year |
Total |
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Loan due to members |
18,162 |
18,162 |
19,878 |
19,878 |
Amounts due from members included in debtors |
- |
- |
(6,893) |
(6,893) |
18,162 |
18,162 |
12,985 |
12,985 |
Panthera Finance LLP
Notes to the Financial Statements for the Year Ended 31 March 2021
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
General information and basis of accounting
The limited liability partnership is incorporated in England under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.
These financial statements have been prepared using the historical cost convention.
Revenue recognition
Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.
Revenue comprises of fees and commissions receivable which are recognised on completion of the transaction on which the are due.
Members' remuneration and division of profits
Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
Taxation
The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.
other taxes policy
Tangible fixed assets
Individual fixed assets are initially recorded at cost.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Panthera Finance LLP
Notes to the Financial Statements for the Year Ended 31 March 2021 (continued)
1 |
Accounting policies (continued) |
Asset class |
Depreciation method and rate |
Motor vehicles |
25% reducung balance |
Plant & Machinery |
25% reducing balance |
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Particulars of employees |
The average number of persons employed by the limited liability partnership during the year was
Panthera Finance LLP
Notes to the Financial Statements for the Year Ended 31 March 2021 (continued)
Tangible fixed assets |
Plant and machinery |
Motor vehicles |
Total |
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Cost |
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Additions |
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At 31 March 2021 |
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Depreciation |
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Charge for the year |
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At 31 March 2021 |
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Net book value |
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At 31 March 2021 |
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Debtors |
2021 |
2020 |
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Trade debtors |
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Other debtors |
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Prepayments and accrued income |
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33,553 |
37,435 |
Creditors: Amounts falling due within one year |
2021 |
2020 |
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Trade creditors |
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Other creditors |
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Accruals and deferred income |
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