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Report of the Members and |
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Unaudited Financial Statements for the Year Ended 31 July 2020 |
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AMP Architects 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 31 July 2020 |
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AMP Architects LLP |
AMP Architects LLP (Registered number: SO304969) |
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Contents of the Financial Statements |
for the Year Ended 31 July 2020 |
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General Information | 1 |
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Report of the Members | 2 |
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Income Statement | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 6 |
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AMP Architects LLP |
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General Information |
for the Year Ended 31 July 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 |
25 Sandyford Place |
Glasgow |
G3 7NG |
AMP Architects LLP (Registered number: SO304969) |
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Report of the Members |
for the Year Ended 31 July 2020 |
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The members present their report with the financial statements of the LLP for the year ended 31 July 2020. |
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PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of Architects. |
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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 £214,225 (2019 - £283,193 profit). |
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MEMBERS' INTERESTS |
Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP. |
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New members are required to subscribe to a minimum level of capital and in subsequent years members are invited to subscribe for further capital, the amount which is determined by the performance and seniority of those members. On retirement, capital is repaid to members. |
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ON BEHALF OF THE MEMBERS: |
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AMP Architects LLP (Registered number: SO304969) |
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Income Statement |
for the Year Ended 31 July 2020 |
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2020 | 2019 |
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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164,760 | 287,345 |
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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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214,225 | 287,434 |
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Interest payable and similar expenses |
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PROFIT FOR THE FINANCIAL
YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
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AMP Architects LLP (Registered number: SO304969) |
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Balance Sheet |
31 July 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank and in hand |
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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 |
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NET ASSETS ATTRIBUTABLE TO
MEMBERS |
391,597 |
295,589 |
AMP Architects LLP (Registered number: SO304969) |
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Balance Sheet - continued |
31 July 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
LOANS AND OTHER DEBTS DUE
TO MEMBERS |
9 |
391,497 |
295,489 |
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MEMBERS' OTHER INTERESTS |
Capital accounts | 100 | 100 |
391,597 | 295,589 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | 391,497 | 295,489 |
Members' other interests | 100 | 100 |
391,597 | 295,589 |
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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. |
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The financial statements were approved by the members of the LLP and authorised for issue on
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AMP Architects LLP (Registered number: SO304969) |
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Notes to the Financial Statements |
for the Year Ended 31 July 2020 |
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1. | STATUTORY INFORMATION |
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AMP Architects LLP is registered in Scotland. 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 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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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Fittings and equipment | - |
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Motor vehicles | - |
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Computer equipment | - |
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Pension costs and other post-retirement benefits |
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEE INFORMATION |
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The average number of employees during the year was
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AMP Architects LLP (Registered number: SO304969) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2020 |
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4. | OPERATING PROFIT |
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The operating profit is stated after charging: |
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2020 | 2019 |
£ | £ |
Depreciation - owned assets |
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Goodwill amortisation |
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5. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 August 2019 |
and 31 July 2020 |
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AMORTISATION |
Charge for year |
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At 31 July 2020 |
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NET BOOK VALUE |
At 31 July 2020 |
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At 31 July 2019 |
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6. | TANGIBLE FIXED ASSETS |
Fittings |
and | Motor | Computer |
equipment | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 August 2019 |
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Additions |
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At 31 July 2020 |
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DEPRECIATION |
At 1 August 2019 |
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Charge for year |
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At 31 July 2020 |
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NET BOOK VALUE |
At 31 July 2020 |
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At 31 July 2019 |
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AMP Architects LLP (Registered number: SO304969) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2020 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
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Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Taxation and social security |
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Other creditors |
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9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2020 | 2019 |
£ | £ |
Amounts owed to members in respect of profits | 391,497 | 295,489 |
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Falling due within one year | 391,497 | 295,489 |
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Loans and other debts due to members will rank after all other creditors. |