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Unaudited Financial Statements for the Year Ended 31 December 2018 |
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Brackman Chopra LLP |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 December 2018 |
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for |
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Brackman Chopra LLP |
Brackman Chopra LLP (Registered number: OC300532) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2018 |
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Page |
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General Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Brackman Chopra LLP |
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General Information |
for the Year Ended 31 December 2018 |
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DESIGNATED MEMBERS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
8 Hampstead Gate |
1 A Frognal |
Hampstead |
London |
NW3 6AL |
Brackman Chopra LLP (Registered number: OC300532) |
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Abridged Balance Sheet |
31 December 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET ASSETS ATTRIBUTABLE TO
MEMBERS |
678,409 |
581,671 |
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LOANS AND OTHER DEBTS DUE TO
MEMBERS |
- |
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MEMBERS' OTHER INTERESTS |
Other reserves |
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678,409 | 581,671 |
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TOTAL MEMBERS' INTERESTS |
Members' other interests | 678,409 | 581,671 |
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The members acknowledge their responsibilities for: |
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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. |
Brackman Chopra LLP (Registered number: OC300532) |
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Abridged Balance Sheet - continued |
31 December 2018 |
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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 Income Statement has not been delivered. |
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The financial statements were approved by the members of the LLP on
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Brackman Chopra LLP (Registered number: OC300532) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2018 |
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1. | STATUTORY INFORMATION |
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Brackman Chopra LLP is registered in England and Wales. The LLP's registered number and registered office |
address can be found on the General Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Foreign currencies |
Functional and presentation currency |
The Company's functional and presentation currency is the pound sterling. |
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Transactions and balances |
Foreign currency transactions are translated into the functional currency at the rate of exchange ruling at the date |
of the transaction. |
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Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency at |
the rate of exchange ruling at the date of the transaction.. |
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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. |
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Capital |
The capital requirements of the partnership are determined from time to time by the members. Each member is |
required to subscribe a proportion of this capital. No interest is paid on capital. |
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Allocation of profits and drawings |
The allocation of profits to those who were members during the financial year occurs on a periodic basis during |
the financial year with a final allocation being made following the finalisation of the annual financial statements. |
As permitted by the Limited Liability Partnership Regulations allocated profits may not necessarily represent all |
the profits arising in a particular financial year if the members considers it appropriate to retain profits or to |
allocate profits previously retained. |
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During the year members receive monthly drawings and, from time to time, additional profit distributions. The |
level and timing of the additional distributions are decided upon by the members, taking account of the |
partnerships cash requirements for operating and investment activities. The monthly drawings represent |
payments on account of current years profits and are reclaimable from members until profits have been allocated. |
Any over-distribution of profits during the year is also recoverable from members. |
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Pending the allocation of profits and their division between members, therefore, drawings are shown in debtors |
as "Amounts due from members". Unallocated profits are shown in "Members other interests". |
Brackman Chopra LLP (Registered number: OC300532) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Basic financial assets |
Financial assets, including trade and other receivables, cash & bank balances, investments and loans from |
connected and fellow group company's are initially recognised at transaction price and subsequently measured at |
amortised cost. |
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Cash and cash equivalents |
Cash and cash equivalents includes cash in hand and deposits held at call with banks. |
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Financial liabilities |
Basic financial liabilities, including trade and other payables, bank loans, loans from connected and fellow group |
companies are initially measured at transaction price and subsequently measured at amortised cost. |
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Derecognition of financial assets and liabilities |
A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or |
substantially all the risks and rewards of ownership are transferred to another party. A financial liability (or part |
thereof) is derecognised when the obligation specified in the contract is discharged, cancelled or expires. |
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3. | EMPLOYEE INFORMATION |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2018 |
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Additions |
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At 31 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for year |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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5. | FIXED ASSET INVESTMENTS |
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Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 January 2018 |
and 31 December 2018 | 2 |
NET BOOK VALUE |
At 31 December 2018 | 2 |
At 31 December 2017 | 2 |