REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2022 |
for |
Clifford Dann LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2022 |
for |
Clifford Dann LLP |
Clifford Dann LLP (Registered number: OC301577) |
Contents of the Financial Statements |
for the Year Ended 31 March 2022 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
Clifford Dann LLP (Registered number: OC301577) |
Balance Sheet |
31 March 2022 |
2022 | 2021 |
as restated |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible fixed assets | 5 |
Current assets |
Debtors | 6 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
and |
Net assets attributable to members | 77,810 | 78,375 |
Clifford Dann LLP (Registered number: OC301577) |
Balance Sheet - continued |
31 March 2022 |
2022 | 2021 |
as restated |
Notes | £ | £ | £ | £ |
Loans and other debts due to members |
8 |
810 |
1,375 |
Members' other interests |
Capital accounts | 77,000 | 77,000 |
77,810 | 78,375 |
Total members' interests |
Loans and other debts due to members | 8 | 810 | 1,375 |
Members' other interests | 77,000 | 77,000 |
Amounts due from members | 6 | (12,599 | ) | (17,101 | ) |
65,211 | 61,274 |
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 and authorised for issue on |
Clifford Dann LLP (Registered number: OC301577) |
Notes to the Financial Statements |
for the Year Ended 31 March 2022 |
1. | Statutory information |
Clifford Dann LLP is registered in England and Wales. The LLP's registered number and registered office address are as below: |
Registered number: |
Registered office: |
The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£). |
2. | 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. |
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable. |
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. |
Computer software was being amortised evenly over its estimated useful life of five years until it was disposed of in the 2022 financial year. |
Tangible fixed assets |
Short leasehold | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. |
Clifford Dann LLP (Registered number: OC301577) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
2. | Accounting policies - continued |
Financial instruments |
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. |
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. |
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. |
Government grants |
Government grants are recognised in the period to which they relate. |
3. | Employee information |
The average number of employees during the year was |
4. | Intangible fixed assets |
Computer |
software |
£ |
Cost |
At 1 April 2021 |
Disposals | ( |
) |
At 31 March 2022 |
Amortisation |
At 1 April 2021 |
Amortisation for year |
Eliminated on disposal | ( |
) |
At 31 March 2022 |
Net book value |
At 31 March 2022 |
At 31 March 2021 |
Clifford Dann LLP (Registered number: OC301577) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
5. | Tangible fixed assets |
Fixtures |
Short | and | Motor | Computer |
leasehold | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
Cost |
At 1 April 2021 |
Additions |
At 31 March 2022 |
Depreciation |
At 1 April 2021 |
Charge for year |
At 31 March 2022 |
Net book value |
At 31 March 2022 |
At 31 March 2021 |
6. | Debtors: amounts falling due within one year |
2022 | 2021 |
as restated |
£ | £ |
Trade debtors |
Other debtors |
7. | Creditors: amounts falling due within one year |
2022 | 2021 |
as restated |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
Clifford Dann LLP (Registered number: OC301577) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
8. | Loans and other debts due to members |
Members' other interests rank after unsecured creditors, and loans and other debts due to members rank pari passu with unsecured creditors in the event of a winding up. In such an event, there is no further protection afforded to creditors which is legally enforceable and cannot be revoked at will by the members. |
There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members' other interests'. |
9. | Prior year adjustment |
The account has been restated to incorporate the impact of declaring VAT on rental income when in fact no VAT was due. |
The change has resulted in profits brought forward at 01 April 2021 increasing by £16,246. |
Summary of the prior year accounting impact affecting opening balances: |
Overdeclared output VAT due back: £16,246 |
Increase in rental income: £16,246 |
10. | Off-balance sheet arrangements |
At the year end, the LLP had leasing commitments amounting to £293,112 (2021: £357,000). |