Limited Liability Partnership Registration No. OC433353 (England and Wales)
MAMU LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
MAMU LLP
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
MAMU LLP
CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MAMU LLP FOR THE PERIOD ENDED 31 DECEMBER 2021
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mamu LLP for the period ended 31 December 2021 which comprise, the balance sheet and the related notes from the limited liability partnership’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the limited liability partnership's members of Mamu LLP, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mamu LLP and state those matters that we have agreed to state to the limited liability partnership's members of Mamu LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mamu LLP and its members as a body, for our work or for this report.

It is your duty to ensure that Mamu 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 Mamu LLP. You consider that Mamu LLP is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Mamu 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.

Carpenter Box
14 September 2022
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
MAMU LLP
BALANCE SHEET
AS AT
31 DECEMBER 2021
31 December 2021
- 2 -
2021
Notes
£
£
Fixed assets
Tangible assets
3
1,297,403
Current assets
Debtors
4
20,096
Creditors: amounts falling due within one year
5
(2,000)
Net current assets
18,096
Total assets less current liabilities
1,315,499
Creditors: amounts falling due after more than one year
6
(1,311,336)
Net assets attributable to members
4,163
Represented by:
Members' other interests
7
Other reserves classified as equity
4,163
4,163
Total members' interests
7
Amounts due from members
(20,096)
Members' other interests
4,163
(15,933)

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

For the financial period ended 31 December 2021 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

MAMU LLP
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2021
31 December 2021
- 3 -
The financial statements were approved by the members and authorised for issue on 14 September 2022 and are signed on their behalf by:
2022-09-14
Ms B H Paterson
Designated member
Limited Liability Partnership Registration No. OC433353
MAMU LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021
- 4 -
1
Accounting policies
Limited liability partnership information

Mamu LLP is a limited liability partnership incorporated in England and Wales. The registered office is Amelia House, Crescent Road, Worthing, West Sussex, BN11 1RL.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2018, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements have been prepared on a going concern basis. The members have considered relevant information and the impact of subsequent events in making their assessment. The COVID-19 pandemic and the ensuing economic shutdown has had an impact on the company’s operations. In response to the COVID-19 pandemic, the members have performed a robust analysis of forecast future cash flows taking into account the potential impact on the business of possible future scenarios arising from the impact of COVID-19. This analysis also considers the effectiveness of available measures to assist in mitigating the impact.

 

The limited liability partnership is reliant on the support of its creditors and has been meeting their liabilities as they arise. The financial statements do not include any adjustments that would result from a withdrawal of their support.

 

Based on these assessments and having regard to the resources available to the entity, the members have concluded that there is no material uncertainty in relation to the appropriateness of continuing to adopt the going concern basis in preparing the annual report and accounts.

1.3
Reporting period

These are the first financial statements of the limited liability partnership and have been prepared for a 15 month period.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
50 years on a straight line basis for buildings, nil for land

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

MAMU LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 5 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.7
Retirement benefits and post retirement payments to members

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average number of persons (excluding members) employed by the partnership during the period was 0.

MAMU LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2021
- 6 -
3
Tangible fixed assets
Land and buildings
£
Cost
At 15 February 2020
-
Additions
1,310,011
At 31 December 2021
1,310,011
Depreciation and impairment
At 15 February 2020
-
Depreciation charged in the period
12,608
At 31 December 2021
12,608
Carrying amount
At 31 December 2021
1,297,403
4
Debtors
2021
Amounts falling due within one year:
£
Amounts owed by members
20,096
5
Creditors: amounts falling due within one year
2021
£
Other creditors
2,000
6
Creditors: amounts falling due after more than one year
2021
£
Other creditors
1,311,336

Included within other creditors is £1,311,336 relating to long term loans secured over the underlying assets of the limited liability partnership.

MAMU LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2021
- 7 -
7
Reconciliation of Members' Interests
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Other reserves
Other amounts
Total
Total
2021
£
£
£
£
Members' interests at 15 February 2020
-
-
-
-
Profit for the period available for discretionary division among members
4,163
-
-
4,163
Members' interests after profit for the period
4,163
-
-
4,163
Drawings
-
(20,096)
(20,096)
(20,096)
Members' interests at 31 December 2021
4,163
(20,096)
(20,096)
(15,933)
Amounts due from members
(20,096)
(20,096)
8
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

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