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Unaudited Financial Statements for the Year Ended 31 March 2021 |
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SUSSEX DEVELOPMENT SERVICES LLP |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2021 |
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for |
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SUSSEX DEVELOPMENT SERVICES LLP |
SUSSEX DEVELOPMENT SERVICES LLP (REGISTERED NUMBER: OC314085) |
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Contents of the Financial Statements |
for the year ended 31 March 2021 |
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Page |
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General Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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SUSSEX DEVELOPMENT SERVICES LLP |
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General Information |
for the year ended 31 March 2021 |
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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 |
Preston Park House |
South Road |
Brighton |
East Sussex |
BN1 6SB |
SUSSEX DEVELOPMENT SERVICES LLP (REGISTERED NUMBER: OC314085) |
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Balance Sheet |
31 March 2021 |
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2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET ASSETS ATTRIBUTABLE TO
MEMBERS |
225,066 |
225,066 |
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LOANS AND OTHER DEBTS DUE TO
MEMBERS |
8 |
225,066 |
225,066 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 8 | 225,066 | 225,066 |
Amounts due from members | 5 | (721,306 | ) | (689,130 | ) |
(496,240 | ) | (464,064 | ) |
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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. |
SUSSEX DEVELOPMENT SERVICES LLP (REGISTERED NUMBER: OC314085) |
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Balance Sheet - continued |
31 March 2021 |
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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 and authorised for issue on
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SUSSEX DEVELOPMENT SERVICES LLP (REGISTERED NUMBER: OC314085) |
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Notes to the Financial Statements |
for the year ended 31 March 2021 |
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1. | STATUTORY INFORMATION |
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Sussex Development Services 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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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Significant judgements and estimates |
Preparation of the financial statements requires management to make significant judgements and estimates and these estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
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The items in the financial statements where these judgements and estimates have been made include the useful economic life of intangible fixed assets, the amortisation of these assets, and provisions. |
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Intellectual property rights |
Intellectual property rights are amortised on a straight line basis over their estimated useful life of 4 years. |
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Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, bank loans, third party loans, related party loans and investments in non-puttable shares. |
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For financial assets measured at amortise cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. |
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For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date. |
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Going concern |
The LLP's accounts have been prepared on a going concern basis as the designated member, S W Newton, has given a guarantee of his ongoing support for the LLP and that he will not seek repayment of his current account for another year. This will allow the LLP to continue to trade for the foreseeable future. |
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Impairment review |
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
SUSSEX DEVELOPMENT SERVICES LLP (REGISTERED NUMBER: OC314085) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2021 |
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3. | EMPLOYEE INFORMATION |
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The average number of employees during the year was NIL (2020 - NIL). |
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4. | INTANGIBLE FIXED ASSETS |
Intellectual |
property |
rights |
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COST |
At 1 April 2020 |
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Additions |
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At 31 March 2021 |
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AMORTISATION |
At 1 April 2020 |
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Amortisation for year |
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At 31 March 2021 |
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NET BOOK VALUE |
At 31 March 2021 |
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At 31 March 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Amounts due from members | 721,306 | 689,130 |
Prepayments |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2021 | 2020 |
£ | £ |
Sussex Research Limited | 440,092 | 420,475 |
SUSSEX DEVELOPMENT SERVICES LLP (REGISTERED NUMBER: OC314085) |
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Notes to the Financial Statements - continued |
for the year ended 31 March 2021 |
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8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2021 | 2020 |
£ | £ |
Capital account | 225,066 | 225,066 |
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Falling due after more than one year | 225,066 | 225,066 |
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Loans and other debts due to members' (other than members' capital classified as debt) rank last in relation to other creditors. |
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9. | CONTINGENT LIABILITIES |
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The LLP has agreed to indemnify Bulbrook Associates against all actions to a value or potential value in excess of £50,000, resulting from consultancy services undertaken on behalf of the LLP. |