Registration number:
Atkinson Powell Financial Management LLP
for the Year Ended 31 March 2020
Atkinson Powell Financial Management LLP
Contents
Limited liability partnership information |
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Financial Statements |
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Balance Sheet |
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Notes to the Financial Statements |
Atkinson Powell Financial Management LLP
Limited liability partnership information
Designated members |
Mrs E A Atkinson Mr G R Atkinson Mrs H E Powell |
Registered office |
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Accountants |
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Atkinson Powell Financial Management LLP
(Registration number: OC355750)
Balance Sheet as at 31 March 2020
Note |
2020 |
2019 |
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Fixed assets |
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Tangible assets |
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Other financial assets |
72,000 |
70,000 |
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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 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 |
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Members' capital classified as a liability |
181,665 |
148,299 |
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Members’ other interests |
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Revaluation reserve |
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193,665 |
158,299 |
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Total members' interests |
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Loans and other debts due to members |
181,665 |
148,299 |
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Members' other interests |
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193,665 |
158,299 |
For the year ending 31 March 2020 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.
Atkinson Powell Financial Management LLP
(Registration number: OC355750)
Balance Sheet as at 31 March 2020
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 Atkinson Powell Financial Management LLP (registered number OC355750) were approved by the
They were signed on behalf of the limited liability partnership by:
Designated member
Atkinson Powell Financial Management LLP
Notes to the Financial Statements for the Year Ended 31 March 2020
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 were 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 the United Kingdom under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Reclassification of comparative amounts
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.
Taxation
The taxation payable on the partnership's profits is the personal liability of the members, Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements.
Tangible fixed assets
Fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of the asset as follows:
Asset class |
Depreciation method and rate |
Office equipment |
33% per annum on cost |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Atkinson Powell Financial Management LLP
Notes to the Financial Statements for the Year Ended 31 March 2020
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 at the transaction price.
Particulars of employees |
The average number of persons employed by the limited liability partnership during the year was
Tangible fixed assets |
Office equipment |
Total |
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Cost |
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At 1 April 2019 |
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At 31 March 2020 |
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Depreciation |
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At 1 April 2019 |
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Charge for the year |
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At 31 March 2020 |
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Net book value |
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At 31 March 2020 |
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At 31 March 2019 |
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Atkinson Powell Financial Management LLP
Notes to the Financial Statements for the Year Ended 31 March 2020
Other financial assets (current and non-current) |
Financial assets at fair value through profit and loss |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 April 2019 |
70,000 |
70,000 |
Fair value adjustments |
2,000 |
2,000 |
At 31 March 2020 |
72,000 |
72,000 |
Carrying amount |
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At 31 March 2020 |
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72,000 |
At 31 March 2019 |
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70,000 |
Debtors |
2020 |
2019 |
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Other debtors |
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- |
Prepayments and accrued income |
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29,426 |
9,462 |
Creditors: Amounts falling due within one year |
2020 |
2019 |
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Trade creditors |
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Other creditors |
- |
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Accruals and deferred income |
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Taxation and social security |
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