IRIS Accounts Production v18.2.1.62 OC382133 designated member 1.4.17 31.3.18 31.3.18 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureOC3821332017-03-31OC3821332018-03-31OC3821332017-04-012018-03-31OC3821332016-03-31OC3821332016-04-012017-03-31OC3821332017-03-31OC382133ns15:EnglandWales2017-04-012018-03-31OC382133ns14:PoundSterling2017-04-012018-03-31OC382133ns10:Director12017-04-012018-03-31OC382133ns10:LimitedLiabilityPartnershipLLP2017-04-012018-03-31OC382133ns10:SmallEntities2017-04-012018-03-31OC382133ns10:AuditExemptWithAccountantsReport2017-04-012018-03-31OC382133ns10:SmallCompaniesRegimeForAccounts2017-04-012018-03-31OC382133ns10:LimitedLiabilityPartnershipsSORP2017-04-012018-03-31OC382133ns10:FullAccounts2017-04-012018-03-31OC382133ns10:Director22017-04-012018-03-31OC382133ns10:RegisteredOffice2017-04-012018-03-31OC382133ns5:CurrentFinancialInstruments2018-03-31OC382133ns5:CurrentFinancialInstruments2017-03-31OC382133ns5:LeaseholdImprovements2017-04-012018-03-31OC382133ns5:PlantMachinery2017-04-012018-03-31OC382133ns5:ComputerEquipment2017-04-012018-03-31OC382133ns5:LeaseholdImprovements2017-03-31OC382133ns5:PlantMachinery2017-03-31OC382133ns5:ComputerEquipment2017-03-31OC382133ns5:LeaseholdImprovements2018-03-31OC382133ns5:PlantMachinery2018-03-31OC382133ns5:ComputerEquipment2018-03-31OC382133ns5:LeaseholdImprovements2017-03-31OC382133ns5:PlantMachinery2017-03-31OC382133ns5:ComputerEquipment2017-03-31OC382133ns5:CurrentFinancialInstrumentsns5:WithinOneYear2018-03-31OC382133ns5:CurrentFinancialInstrumentsns5:WithinOneYear2017-03-31OC382133ns5:WithinOneYear2018-03-31OC382133ns5:WithinOneYear2017-03-31OC382133ns5:BetweenOneFiveYears2018-03-31OC382133ns5:BetweenOneFiveYears2017-03-31OC382133ns5:AllPeriods2018-03-31OC382133ns5:AllPeriods2017-03-31


REGISTERED NUMBER: OC382133 (England and Wales)















REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

LUCID PARTNERSHIP LLP

LUCID PARTNERSHIP LLP (REGISTERED NUMBER: OC382133)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2018




Page

General Information 1

Report of the Members 2

Profit and Loss Account 3

Balance Sheet 4

Notes to the Financial Statements 6


LUCID PARTNERSHIP LLP

GENERAL INFORMATION
for the Year Ended 31 March 2018







DESIGNATED MEMBERS: Lucid Programming Limited
RAF Affinity Ltd





REGISTERED OFFICE: Carlton House
Bull Close Lane
Halifax
West Yorkshire
HX1 2EG





REGISTERED NUMBER: OC382133 (England and Wales)





ACCOUNTANTS: Bairstow and Atkinson Chartered Accountants
Carlton House
Bull Close Lane
Halifax
West Yorkshire
HX1 2EG

LUCID PARTNERSHIP LLP (REGISTERED NUMBER: OC382133)

REPORT OF THE MEMBERS
for the Year Ended 31 March 2018

The members present their report with the financial statements of the LLP for the year ended 31 March 2018.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of the supply and installation of electronic control
systems.

DESIGNATED MEMBERS
The designated members during the year under review were:

Lucid Programming Limited
RAF Affinity Ltd

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £136,860 (2017 - £235,781 profit).

MEMBERS' INTERESTS
The policy regarding members' drawings is that monthly drawings may be paid out as determined by the LLP. No
drawings shall be taken if the LLP determines that it has insufficient banking facilities for that purpose.
The policy regarding the subscription and repayments of amounts subscribed is described below.
Each member has made a capital subscription of £10,000.
There were no transfers between debt and equity during the period.
There have been no transfers between debt and equity between the period end and the signing of these accounts.
A member's capital account is repayable only upon the death, retirement, deemed retirement or expulsion of that
member.
The balances on the members' current accounts are payable to them after the approval of the accounts, provided the LLP
has sufficient working capital to make such payments.

ON BEHALF OF THE MEMBERS:





Lucid Programming Limited - Designated member


22 October 2018

LUCID PARTNERSHIP LLP (REGISTERED NUMBER: OC382133)

PROFIT AND LOSS ACCOUNT
for the Year Ended 31 March 2018

31.3.18 31.3.17
Notes £    £   

TURNOVER 878,687 851,723

Cost of sales 560,933 425,651
GROSS PROFIT 317,754 426,072

Administrative expenses 184,025 193,617
133,729 232,455

Other operating income 3,000 3,144
OPERATING PROFIT 136,729 235,599

Interest receivable and similar income 131 184
136,860 235,783

Interest payable and similar expenses - 2
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




136,860




235,781

LUCID PARTNERSHIP LLP (REGISTERED NUMBER: OC382133)

BALANCE SHEET
31 March 2018

31.3.18 31.3.17
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 29,842 27,603

CURRENT ASSETS
Debtors 5 292,898 282,810
Cash at bank 45,026 86,917
337,924 369,727
CREDITORS
Amounts falling due within one year 6 131,115 140,879
NET CURRENT ASSETS 206,809 228,848
TOTAL ASSETS LESS CURRENT
LIABILITIES

and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

236,651

256,451

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

216,651

236,451

MEMBERS' OTHER INTERESTS
Capital accounts 20,000 20,000
236,651 256,451

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 216,651 236,451
Members' other interests 20,000 20,000
236,651 256,451

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2018.

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.

LUCID PARTNERSHIP LLP (REGISTERED NUMBER: OC382133)

BALANCE SHEET - continued
31 March 2018


The financial statements have been prepared in accordance with the provisions of Part 15 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 small LLPs.

The financial statements were approved by the members of the LLP on 22 October 2018 and were signed by:





Lucid Programming Limited - Designated member

LUCID PARTNERSHIP LLP (REGISTERED NUMBER: OC382133)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2018

1. STATUTORY INFORMATION

Lucid Partnership LLP is registered in England and Wales. The LLP's registered number and registered office
address can be found on the General Information page.

2. ACCOUNTING POLICIES

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Plant and machinery - 25% on reducing balance
Computer equipment - 25% on reducing balance

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

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.

Post retirement payments to members
Members are not entitled to receive any share of profit of the LLP after their retirement date. The profits of the
LLP in the period of retirement are apportioned on a time basis in respect of the periods before and after the
retirement date. The balance on the retiring member's capital and current accounts are shown in the accounts at
the date of retirement.The retiring member is also entitled to a goodwill payment being 1.5 times their average
annual profit share for the previous three years, provided they have been a member for at least 3 years.
The balance on the current account has to be made within one month of the approval of the accounts.
The balance on the capital account has to be made within twelve months of the retirement date.
The goodwill share payment has to be made within twelve months of the retirement date.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 9 (2017 - 8 ) .

LUCID PARTNERSHIP LLP (REGISTERED NUMBER: OC382133)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2018

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 April 2017 142 733 45,368 46,243
Additions - - 12,654 12,654
Disposals (142 ) (125 ) (377 ) (644 )
At 31 March 2018 - 608 57,645 58,253
DEPRECIATION
At 1 April 2017 28 291 18,321 18,640
Charge for year - 93 9,855 9,948
Eliminated on disposal (28 ) (55 ) (94 ) (177 )
At 31 March 2018 - 329 28,082 28,411
NET BOOK VALUE
At 31 March 2018 - 279 29,563 29,842
At 31 March 2017 114 442 27,047 27,603

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.18 31.3.17
£    £   
Trade debtors 227,418 232,518
Amounts recoverable on contract 38,700 35,275
Other debtors 1,800 7,038
Other loans 679 -
Prepayments 24,301 7,979
292,898 282,810

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.18 31.3.17
£    £   
Bank loans and overdrafts - 3,251
Trade creditors 41,066 26,156
Social security and other taxes 15,502 23,210
VAT 30,655 37,238
Other creditors 3,335 -
Employee expense claims 429 418
Pension creditor 409 -
Accrued expenses 30,152 50,606
Payments on account 9,567 -
131,115 140,879

LUCID PARTNERSHIP LLP (REGISTERED NUMBER: OC382133)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2018

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.18 31.3.17
£    £   
Within one year 26,080 8,992
Between one and five years 14,170 15,557
40,250 24,549

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members would rank behind other secured creditors in the event of a winding up.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Lucid Programming Limited.

The ultimate controlling party is A Lloyd-Owen.