Registered number
OC347616
A & M Hamalis LLP
Filleted Accounts
31 March 2018
A & M Hamalis LLP
Registered number: OC347616
Balance Sheet
as at 31 March 2018
Notes 2018 2017
£ £
Fixed assets
Tangible assets 2 213,246 212,950
Current assets
Cash at bank and in hand 27,118 22,484
Net current assets 27,118 22,484
Total assets less current liabilities 240,364 235,434
Net assets attributable to members 240,364 235,434
Represented by:
Members' other interests
Members' capital classified as equity 235,434 235,434
Other reserves 4,930 -
240,364 235,434
240,364 235,434
Total members' interests
Members' other interests 240,364 235,434
240,364 235,434
For the year ended 31 March 2018 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 3 December 2018 and signed on their behalf by:
A Hamalis
Designated member
A & M Hamalis LLP
Notes to the Accounts
for the year ended 31 March 2018
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2017 212,950 - 212,950
Additions - 370 370
At 31 March 2018 212,950 370 213,320
Depreciation
Charge for the year - 74 74
At 31 March 2018 - 74 74
Net book value
At 31 March 2018 212,950 296 213,246
At 31 March 2017 212,950 - 212,950
3 Other information
A & M Hamalis LLP is a limited liability partnership incorporated in England. Its registered office is:
1 Pembroke Close
Tamworth
Staffs
B79 7YB
A & M Hamalis LLP OC347616 false 2017-04-01 2018-03-31 2018-03-31 VT Final Accounts July 2018 A Hamalis No description of principal activity OC347616 core:ShareCapital 2017-03-31 OC347616 core:RetainedEarningsAccumulatedLosses 2017-03-31 OC347616 2017-04-01 2018-03-31 OC347616 bus:LimitedLiabilityPartnershipLLP 2017-04-01 2018-03-31 OC347616 bus:AuditExempt-NoAccountantsReport 2017-04-01 2018-03-31 OC347616 bus:PartnerLLP20 2017-04-01 2018-03-31 OC347616 3 2017-04-01 2018-03-31 OC347616 1 2017-04-01 2018-03-31 OC347616 2 2017-04-01 2018-03-31 OC347616 4 2017-04-01 2018-03-31 OC347616 core:LandBuildings 2017-04-01 2018-03-31 OC347616 core:PlantMachinery 2017-04-01 2018-03-31 OC347616 countries:England 2017-04-01 2018-03-31 OC347616 bus:FRS102 2017-04-01 2018-03-31 OC347616 bus:FullAccounts 2017-04-01 2018-03-31 OC347616 2018-03-31 OC347616 core:ShareCapital 2018-03-31 OC347616 core:RetainedEarningsAccumulatedLosses 2018-03-31 OC347616 core:LandBuildings 2018-03-31 OC347616 core:PlantMachinery 2018-03-31 OC347616 2017-03-31 OC347616 core:LandBuildings 2017-03-31 OC347616 core:PlantMachinery 2017-03-31 iso4217:GBP