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REGISTERED NUMBER:
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Agora Business Publications LLP |
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Audited Financial Statements for the Year Ended 31 December 2018 |
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REGISTERED NUMBER:
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Agora Business Publications LLP |
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Audited Financial Statements for the Year Ended 31 December 2018 |
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Agora Business Publications LLP (Registered number: OC323533) |
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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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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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Agora Business Publications 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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AUDITORS: |
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Curzon House 2nd Floor |
24 High Street |
Banstead |
Surrey |
SM7 2LJ |
Agora Business Publications LLP (Registered number: OC323533) |
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Statement of Financial Position |
31 December 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 756,961 | 719,189 |
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LOANS AND OTHER DEBTS DUE TO
MEMBERS |
9 |
756,961 |
719,189 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | 756,961 | 719,189 |
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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 Statement of Comprehensive Income has not been delivered. |
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The financial statements were approved by the members of the LLP on
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Agora Business Publications LLP (Registered number: OC323533) |
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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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Agora Business Publications 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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The financial statements have been prepared in accordance with applicable accounting standards. |
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Related party exemption |
The LLP has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial |
Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions |
with wholly owned subsidiaries within the group. |
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Critical accounting judgements and key sources of estimation uncertainty |
In the application of the LLP's accounting policies, which are described in note 2, the members are required to |
make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not |
readily apparent from other sources. The estimates and associated assumptions are based on historical |
experience and knowledge of the business and other factors that are considered to be relevant. Actual results |
may differ from these estimates. |
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The 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 period if the revision affects both current and future periods. |
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The key areas are summarised below: |
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Depreciation |
The LLP exercises judgement to determine useful lives and residual values of tangible fixed assets. The assets |
are depreciated down to their estimated residual values over their estimated useful lives. |
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Provision for trade debtors |
Provisions have been made for trade debtors which potentially will not be collected. This provision is an |
estimate based on the LLP's understanding, knowledge and historic trends applying to its business. |
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Stock |
Provisions are made where necessary to ensure that stock is stated at the lower of cost and net realisable |
value. This provision is an estimate based on the LLP's understanding of its future needs, knowledge and |
historic trends. |
Agora Business Publications LLP (Registered number: OC323533) |
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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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Turnover |
Turnover is the net receivable amount derived from the provision of goods falling within the LLP's ordinary |
activities during the period after deducting refunds, cancellations and value added tax. Subscription income |
paid in advance, after adjusting for refunds and cancellations, is recognised on the basis of the sales value of |
publications delivered after the year end in relation to the total sales value of all items covered by the |
subscription. |
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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. |
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Tangible fixed assets |
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Office equipment & fittings | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate |
of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the |
operating result. |
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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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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. |
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Deferred promotional expenditure |
Promotional expenditure incurred during the year is matched against the revenue generated by that |
expenditure. Deferred promotional expenditure included in the statement of financial position represents |
expenditure incurred during the year in respect of which revenue is expected to arise after the year end date. |
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Financial instruments |
Basic financial instruments are initially recognised at transaction value and subsequently measured at the |
settlement value with the exception of bank loans which are subsequently measured at amortised cost using |
the effective interest rate method. |
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Currency |
The company's functional and presentational currency is pounds Sterling (GBP). |
Agora Business Publications LLP (Registered number: OC323533) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2018 |
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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. | INTANGIBLE FIXED ASSETS |
Computer |
software |
£ |
COST |
At 1 January 2018 |
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Additions |
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At 31 December 2018 |
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AMORTISATION |
At 1 January 2018 |
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Amortisation 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. | TANGIBLE FIXED ASSETS |
Office |
equipment | Computer |
& fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2018 |
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Additions |
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Disposals | ( |
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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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Eliminated on disposal | ( |
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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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Agora Business Publications LLP (Registered number: OC323533) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2018 | 2017 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2018 | 2017 |
£ | £ |
Amounts owed to members in respect of profits | 264,961 | 227,189 |
Capital account | 492,000 | 492,000 |
756,961 | 719,189 |
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Falling due within one year | 264,961 | 227,189 |
Falling due after more than one year | 492,000 | 492,000 |
756,961 | 719,189 |
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Agora Business Publications LLP's profits are automatically divided among the members based on |
predetermined profit share percentages and so the LLP does not have any equity and consequently a |
statement of changes in equity is not given. |
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Loans and other debts due to members rank pari passu with unsecured creditors in the event of a winding up. |
Agora Business Publications LLP (Registered number: OC323533) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2018 |
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10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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11. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Verlag Fur die Deutsche Wirtschaft AG. |
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Verlag Fur die Deutsche Wirtschaft AG is the smallest entity producing consolidated accounts in which the LLP |
is consolidated. The registered office of that company is 2-4 Theodor-Heuss Strasse, 53177 Bonn, Germany. |