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Fly 7 Helicopters LLP |
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Report of the Members and |
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Financial Statements |
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for the Year Ended 30th September 2020 |
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REGISTERED NUMBER:
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Fly 7 Helicopters LLP |
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Report of the Members and |
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Financial Statements |
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for the Year Ended 30th September 2020 |
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Fly 7 Helicopters LLP (Registered number: OC347013) |
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Contents of the Financial Statements |
for the Year Ended 30th September 2020 |
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General Information | 1 |
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Report of the Members | 2 |
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Report of the Accountants | 3 |
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Profit and Loss Account | 4 |
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Balance Sheet | 5 | to | 6 |
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Notes to the Financial Statements | 7 | to | 8 |
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Fly 7 Helicopters LLP |
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General Information |
for the Year Ended 30th September 2020 |
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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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Chartered Accountants |
38 Dollar Street |
Cirencester |
Gloucestershire |
GL7 2AN |
Fly 7 Helicopters LLP (Registered number: OC347013) |
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Report of the Members |
for the Year Ended 30th September 2020 |
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The members present their report with the financial statements of the LLP for the year ended 30th September 2020. |
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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 loss for the year before members' remuneration and profit shares was £52,085 (2019 - £39,431 loss). |
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MEMBERS' INTERESTS |
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ON BEHALF OF THE MEMBERS: |
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Fly 7 Helicopters LLP |
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Report of the Accountants to the Members of |
Fly 7 Helicopters LLP |
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As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30th September 2020 set out on pages four to eight and you consider that the LLP is exempt from an audit. |
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In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
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Chartered Accountants |
38 Dollar Street |
Cirencester |
Gloucestershire |
GL7 2AN |
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Fly 7 Helicopters LLP (Registered number: OC347013) |
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Profit and Loss Account |
for the Year Ended 30th September 2020 |
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2020 | 2019 |
Notes | £ | £ |
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TURNOVER | 3 |
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Cost of sales |
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GROSS LOSS | ( |
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Administrative expenses |
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OPERATING LOSS | 5 | ( |
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Interest receivable and similar income |
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LOSS FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
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Fly 7 Helicopters LLP (Registered number: OC347013) |
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Balance Sheet |
30th September 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
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CURRENT ASSETS |
Debtors | 8 |
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Prepayments and accrued income |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 9 |
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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 |
293,852 |
298,108 |
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LOANS AND OTHER DEBTS DUE
TO MEMBERS |
10 |
58,852 |
63,108 |
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MEMBERS' OTHER INTERESTS |
Capital accounts | 37,000 | 37,000 |
Revaluation reserve | 11 |
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293,852 | 298,108 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 10 | 58,852 | 63,108 |
Members' other interests | 235,000 | 235,000 |
Amounts due from members | 8 | (6,745 | ) | (1,537 | ) |
287,107 | 296,571 |
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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. |
Fly 7 Helicopters LLP (Registered number: OC347013) |
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Balance Sheet - continued |
30th September 2020 |
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The financial statements were approved by the members of the LLP and authorised for issue on
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Fly 7 Helicopters LLP (Registered number: OC347013) |
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Notes to the Financial Statements |
for the Year Ended 30th September 2020 |
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1. | STATUTORY INFORMATION |
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Fly 7 Helicopters 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 |
Turnover represents net invoiced sales of goods and services. |
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Tangible fixed assets |
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Helicopter | - |
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Equipment | - |
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3. | TURNOVER |
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The turnover and loss for the financial year before members' remuneration and profit shares are attributable to the one principal activity of the LLP. |
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4. | EMPLOYEE INFORMATION |
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The average number of employees during the year was NIL (2019 - NIL). |
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5. | OPERATING LOSS |
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The operating loss is stated after charging: |
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2020 | 2019 |
£ | £ |
Depreciation - owned assets |
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6. | GOING CONCERN |
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These financial statements have been prepared on a going concern basis as the members have confirmed they will continue to support the partnership for the foreseeable future. |
Fly 7 Helicopters LLP (Registered number: OC347013) |
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Notes to the Financial Statements - continued |
for the Year Ended 30th September 2020 |
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7. | TANGIBLE FIXED ASSETS |
Helicopter | Equipment | Totals |
£ | £ | £ |
COST |
At 1st October 2019 |
and 30th September 2020 |
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DEPRECIATION |
At 1st October 2019 |
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Charge for year |
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At 30th September 2020 |
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NET BOOK VALUE |
At 30th September 2020 |
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At 30th September 2019 |
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8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors | 4,200 | 5,292 |
Amounts due from members | 6,745 | 1,537 |
VAT |
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9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
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VAT | - | 1,080 |
Accrued expenses |
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10. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
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Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up. |
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11. | RESERVES |
Revaluation |
reserve |
£ |
At 1st October 2019 |
and 30th September 2020 |
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