REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2018 |
for |
Cronnie Creative LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2018 |
for |
Cronnie Creative LLP |
Cronnie Creative LLP (Registered number: OC407167) |
Contents of the Financial Statements |
for the Year Ended 31 March 2018 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Cronnie Creative LLP |
General Information |
for the Year Ended 31 March 2018 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
and Business Advisers |
Coburg House |
1 Coburg Street |
Gateshead |
Tyne & Wear |
NE8 1NS |
Cronnie Creative LLP (Registered number: OC407167) |
Balance Sheet |
31 March 2018 |
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
33,365 |
15,569 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
8 |
33,365 |
15,569 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 8 | 33,365 | 15,569 |
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. |
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. |
The financial statements were approved by the members of the LLP on |
Cronnie Creative LLP (Registered number: OC407167) |
Notes to the Financial Statements |
for the Year Ended 31 March 2018 |
1. | STATUTORY INFORMATION |
Cronnie Creative LLP is registered in England and Wales. The LLP's registered number and registered office |
address can be found on the General Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable and represents amounts |
receivable for services rendered, stated net of discounts and of Value Added Tax. |
The LLP recognises revenue when the amount of revenue can be measured reliably, when it is probable that |
future economic benefits will flow to the entity. |
Rendering of services: |
The LLP provides creative agency services. When the outcome of a transaction for the rendering of services |
can be estimated reliably in terms of revenue, costs, and its stage of completion, the LLP recognises revenue |
on the sales of services in the reporting period in which the services are rendered by reference to the stage of |
completion of the specific transaction at the end of the reporting period. The stage of completion is |
determined on the basis of the actual completion of a proportion of the total services to be rendered. |
When the outcome of a service contract cannot be estimated reliably the LLP only recognises revenue to the |
extent of the recoverable expenses recognised. |
Tangible fixed assets |
Plant and machinery etc | - |
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment |
losses. |
Impairment of assets |
At each reporting date fixed assets are reviewed to determine whether there is any indication that those |
assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable |
amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable |
amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss |
is recognised immediately in profit and loss. |
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised |
estimate of its recoverable amount, but not in excess of the amount that would have been determined had no |
impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised |
immediately in profit or loss. |
Financial instruments |
The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets |
and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, |
loans to related parties and investments on non-puttable ordinary shares. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting |
period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss |
is recognised in profit or loss. |
4. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2017 - NIL). |
Cronnie Creative LLP (Registered number: OC407167) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2017 |
Additions |
Disposals | ( |
) |
At 31 March 2018 |
DEPRECIATION |
At 1 April 2017 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 March 2018 |
NET BOOK VALUE |
At 31 March 2018 |
At 31 March 2017 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Amounts owed to partners rank pari passu with other creditors. |