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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2020 |
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HARRIS PARTNERS & ASSOCIATES LLP |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2020 |
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FOR |
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HARRIS PARTNERS & ASSOCIATES LLP |
HARRIS PARTNERS & ASSOCIATES LLP (REGISTERED NUMBER: OC384638) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2020 |
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General Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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HARRIS PARTNERS & ASSOCIATES LLP |
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GENERAL INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2020 |
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DESIGNATED MEMBERS: |
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D L Harris |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
4th Floor Tuition House |
27-37 St George's Road |
Wimbledon |
London |
SW19 4EU |
HARRIS PARTNERS & ASSOCIATES LLP (REGISTERED NUMBER: OC384638) |
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BALANCE SHEET |
31 MARCH 2020 |
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2020 | 2019 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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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 |
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NET ASSETS ATTRIBUTABLE TO
MEMBERS |
156,925 |
227,996 |
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LOANS AND OTHER DEBTS DUE TO
MEMBERS |
9 |
156,925 |
227,996 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | 156,925 | 227,996 |
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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. |
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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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HARRIS PARTNERS & ASSOCIATES LLP (REGISTERED NUMBER: OC384638) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2020 |
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1. | STATUTORY INFORMATION |
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Harris Partners & Associates 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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Critical accounting judgements and key sources of estimation uncertainty |
The preparation of the financial statements requires management to make significant judgements and estimates. Management consider that there are no accounting judgements and estimates which would significantly impact 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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Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point when a sales invoice is issued and the customer has paid a deposit for the goods. |
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Goodwill |
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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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Plant and machinery etc | - |
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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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Financial instruments |
Cash in hand is measured at transaction price. |
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Debtors: Trade and other debtors are measured at transaction price. Trade debtors are amounts due from |
customers for goods or services performed in the ordinary course of business less any impairment provision. |
These are recognised as current assets as collection is due within one year or less. |
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Creditors: Amounts falling due within one year are measured at transaction price. Trade Creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business. These are classified as current liabilities as payment is due in one year or less. |
HARRIS PARTNERS & ASSOCIATES LLP (REGISTERED NUMBER: OC384638) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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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Lease 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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3. | EMPLOYEE INFORMATION |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2019 |
and 31 March 2020 |
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AMORTISATION |
At 1 April 2019 |
and 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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At 31 March 2019 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2019 |
and 31 March 2020 |
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DEPRECIATION |
At 1 April 2019 |
and 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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HARRIS PARTNERS & ASSOCIATES LLP (REGISTERED NUMBER: OC384638) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
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: |
2020 | 2019 |
£ | £ |
Within one year |
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Between one and five years |
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9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2020 | 2019 |
£ | £ |
Loans from members | 439 | 439 |
Amounts owed to members in respect of profits | 156,486 | 227,557 |
156,925 | 227,996 |
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Falling due within one year | 156,925 | 227,996 |
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Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a |
winding up. |
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10. | ULTIMATE CONTROLLING PARTY |
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The controlling party is J A Harris. |