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Financial Statements for the Year Ended 31 July 2018 |
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AMP Architects LLP |
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REGISTERED NUMBER:
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Financial Statements for the Year Ended 31 July 2018 |
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for |
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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 2018 |
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General Information | 1 |
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Chartered Accountants' Report | 2 |
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Balance Sheet | 3 |
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Notes to the Financial Statements | 5 |
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AMP Architects LLP |
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General Information |
for the Year Ended 31 July 2018 |
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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 |
Westburn Business Centre |
McNee Road |
Prestwick |
Ayrshire |
KA9 2PB |
Chartered Accountants' Report to the Members |
on the Unaudited Financial Statements of |
AMP Architects LLP |
previously known as Graves & Graves Architecture LLP |
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The following reproduces the text of the report prepared for the members in respect of the LLP's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a |
Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the |
Report of the Members are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability |
Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your |
approval the financial statements of AMP Architects LLP for the year ended 31 July 2018 which comprise the Profit and |
Loss Account, Balance Sheet, Reconciliation of Members' Interests and the related notes from the LLP's accounting |
records and from information and explanations you have given us. |
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As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance. |
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This report is made solely to the members of AMP Architects LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of AMP Architects LLP and state those matters that we have agreed to state to the members of AMP Architects LLP, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and its members, as a body, for our work or for this report. |
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It is your duty to ensure that AMP Architects LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of AMP Architects LLP. You consider that AMP Architects LLP is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of AMP Architects 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 financial statements. |
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Chartered Accountants |
Westburn Business Centre |
McNee Road |
Prestwick |
Ayrshire |
KA9 2PB |
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AMP Architects LLP (Registered number: SO304969) |
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Balance Sheet |
31 July 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET ASSETS ATTRIBUTABLE TO
MEMBERS |
36,041 |
6,489 |
AMP Architects LLP (Registered number: SO304969) |
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Balance Sheet - continued |
31 July 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
LOANS AND OTHER DEBTS DUE TO
MEMBERS |
12 |
35,941 |
6,389 |
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MEMBERS' OTHER INTERESTS |
Capital accounts | 100 | 100 |
36,041 | 6,489 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 12 | 35,941 | 6,389 |
Members' other interests | 100 | 100 |
36,041 | 6,489 |
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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 |
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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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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 Profit and Loss Account has not been delivered. |
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The financial statements were approved by the members of the LLP 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 2018 |
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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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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 |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" |
of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of |
Ireland" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability |
Partnerships. The financial statements have been prepared under the historical cost convention and on a going |
concern basis. |
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Fees earned |
Fees comprise the fair value of the consideration received or receivable for the rendering of services in the |
ordinary course of the Company's activities. Fees are presented, net of value-added tax, rebates and discounts. |
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The Company recognises revenue when the amount of revenue and related cost can be reliably measured, it is |
probable that the collectability of the related receivables is reasonably assured and when the specific criteria for |
each of the Company's activities are met. |
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Work performed but unbilled at the financial year end is measured on the above basis and included in the |
balance sheet as accrued income. |
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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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Fixtures and fittings | - |
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Computer equipment | - |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
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Taxation |
No provision is made in the accounts in respect of tax due by the individual partners on their profit share as this |
is not a liability of the partnership. Tax paid by the Limited Liability Partnership to satisfy partners tax liabilities |
is charged to their respective current account balances when paid. |
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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 2018 |
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4. | INTANGIBLE FIXED ASSETS |
Website |
development |
costs |
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COST |
At 1 August 2017 |
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Additions |
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At 31 July 2018 |
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AMORTISATION |
At 1 August 2017 |
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Amortisation for year |
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At 31 July 2018 |
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NET BOOK VALUE |
At 31 July 2018 |
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At 31 July 2017 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 August 2017 |
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Additions |
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At 31 July 2018 |
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DEPRECIATION |
At 1 August 2017 |
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Charge for year |
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At 31 July 2018 |
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NET BOOK VALUE |
At 31 July 2018 |
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At 31 July 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments and accrued income |
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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 2018 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts (see note 9) |
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Other loans (see note 9) |
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Trade creditors |
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Social security and other taxes |
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Other creditors |
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Accruals and deferred income |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Other loans (see note 9) |
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9. | LOANS |
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An analysis of the maturity of loans is given below: |
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2018 | 2017 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
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Loans |
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Amounts falling due between one and two years: |
Loans | 5,000 |
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Amounts falling due between two and five years: |
Other loans - 2-5 years |
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10. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2018 | 2017 |
£ | £ |
Within one year |
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Between one and five years |
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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 2018 |
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11. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Loans |
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The other loan is secured by personal guarantees from each of the members. |
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12. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2018 | 2017 |
£ | £ |
Amounts owed to members in respect of profits | 35,941 | 6,389 |
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Falling due within one year | 35,941 | 6,389 |
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Members' interests are subordinated to bank borrowings. Loans and other debts due to members rank equally |
with unsecured creditors in the event of a winding up. Members' other interests, represented by members' capital |
(classified as equity), rank after unsecured creditors |
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13. | CONTROLLING PARTY |
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The limited liability partnership is under the control of Mr & Mrs R Graves. |