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Unaudited Financial Statements |
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for the Year Ended 31 March 2017 |
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for |
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Sovereign Endoscopy LLP |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2017 |
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for |
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Sovereign Endoscopy LLP |
Sovereign Endoscopy LLP (Registered number: OC368554) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2017 |
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Page |
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General Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Sovereign Endoscopy LLP |
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General Information |
for the Year Ended 31 March 2017 |
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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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Fifth Floor |
11 Leadenhall Street |
London |
EC3V 1LP |
Sovereign Endoscopy LLP (Registered number: OC368554) |
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Statement of Financial Position |
31 March 2017 |
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2017 | 2016 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 3 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 4 |
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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 |
11,801 |
403 |
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LOANS AND OTHER DEBTS DUE TO
MEMBERS |
- |
- |
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MEMBERS' OTHER INTERESTS |
Capital accounts | 11,801 | 403 |
11,801 | 403 |
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TOTAL MEMBERS' INTERESTS |
Members' other interests | 11,801 | 403 |
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The members acknowledge their responsibilities for: |
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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. |
Sovereign Endoscopy LLP (Registered number: OC368554) |
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Statement of Financial Position - continued |
31 March 2017 |
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In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered. |
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The financial statements were approved by the members of the LLP on
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Sovereign Endoscopy LLP (Registered number: OC368554) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2017 |
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1. | STATUTORY INFORMATION |
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Sovereign Endoscopy 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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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Financial instruments |
The LLP has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other |
Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
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Financial instruments are recognized in the company's balance sheet when the company becomes party to the |
contractual provisions of the instrument. |
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Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when |
there is a legally enforceable right to set off the recognized amounts and there is an intention to settle on a net |
basis or to realise the asset and settle the liability simultaneously. |
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Basic financial assets |
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Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction |
price including transaction costs and are subsequently carried at amortised cost using the effective interest |
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the |
present value of the future receipts discounted at a market rate of interest. Financial assets classified as |
receivable within one year are not amortised. |
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Classification of financial liabilities |
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Financial liabilities and equity instruments are classified according to the substance of the contractual |
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets |
of the company after deducting all of its liabilities. |
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Basic financial liabilities |
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Basic financial liabilities, including creditors, bank loans and loans from fellow group companies that are |
classified as debt, are initially recognized at transaction price unless the arrangement constitutes a financing |
transaction, where the debt instrument is measured at the present value of the future payment discounted at a |
market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt |
instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Sovereign Endoscopy LLP (Registered number: OC368554) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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3. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other debtors |
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Other debtors includes £6,159 due from Sovereign Surgical Group Limited. |
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Taxation and social security |
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Other creditors |
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5. | RELATED PARTY DISCLOSURES |
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Included in other creditors are amounts due to the following related parties whose directors and members are |
also members of Sovereign Endoscopy LLP: |
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2017 | 2016 |
£ | £ |
Sovereign Surgical LLP | - | 4,471 |
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Included in other debtors are amounts due from the following related parties whose directors and members are |
also members of Sovereign Endoscopy LLP: |
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2017 | 2016 |
£ | £ |
Sovereign Surgical LLP | 11,971 | - |
Sovereign Surgical Group Ltd | 3,408 | 6,159 |
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6. | ULTIMATE CONTROLLING PARTY |
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There is no ultimate controlling party. |
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7. | FIRST YEAR ADOPTION |
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This was the first period that the company has presented its results under FRS 102 section 1A. The last |
financial statements under FRSSE 2015 were for the period ended 31 Mar 2016. The date of transition to |
FRS102 section 1A was 1 Apr 2016. |
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There is no impact on either the Profit and Loss account or the net assets of the company upon the transition to |
FRS 102 section 1A. |