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Area Urban Design & Architecture LLP FILLETED ACCOUNTS COVER
Area Urban Design & Architecture LLP
Registered No. SO300994
Information for Filing with the Registrar
05 April 2018
Area Urban Design & Architecture LLP BALANCE SHEET REGISTRAR
at
5 April 2018
Registered No.
SO300994
Notes
2018
2017
£
£
Fixed assets
Tangible assets
2
19,133
12,755
19,133
12,755
Current assets
Debtors
3
24,664
597
Cash at bank and in hand
20,814
72,900
45,478
73,497
Creditors: Amounts falling due within one year
4
(2,962)
(5,345)
Net current assets
42,516
68,152
Total assets less current liabilities
61,649
80,907
Net assets attributable to members
61,649
80,907
Represented by:
Loans and other debts due to members
61,649
80,907
Members' other interests
61,649
80,907
These accounts have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
For the year ended 5 April 2018 the LLP was entitled to exemption under section 477 of the Companies Act 2006 as applied by the Limited Liability Partnerships (Accounts and Audit)(Application of Companies Act 2006) Regulations 2008) relating to small 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.
As permitted by section 444 (5A)of the Companies Act 2006 the members have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the members on 04 December 2018
And signed on its behalf by designated member:
K. Cadell
Area Urban Design & Architecture LLP NOTES TO THE ACCOUNTS REGISTRAR
for the year ended 5 April 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. There were no material departures from that standard.
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Members' remuneration and division of profits
Remuneration is paid to certain members under a contract of employment and is included as an expense in the profit and loss account.

In addition, the LLP agreement provides that fixed amounts, determined for each member each year, be paid to members, irrespective of the profits of the LLP. These amounts are included within members' remuneration charged as an expense.

Profits are treated as being available for discretionary division only if the 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. Once agreement has been reached to divide the profits, a members' share in the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses remain included within 'other reserves'.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.
Investments
Unlisted investments are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.
Members' Interests
Members' interests are classified as either equity or debt.

Equity interests comprise any capital introduced classified as equity, any unallocated profits, any revaluation reserve and any other reserves.

Loans and other debts due to members comprise any capital introduced but classified as a liability, any loans from members, amounts due to members in respect of allocated profits less drawings and any other amounts that the LLP is contractually obliged to repay to members.
Foreign currencies
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
Leased assets
Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
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.
Retirement benefits of former members
The retirement benefits of former members are determined annually base on a formula directly linked to the profits of the partnership. Provision is made at the date of retirement of the member for the estimated present value of the expected future payments to that member. On initial recognition the estimated current value of the future pension is transferred from members' interests to provisions for liabilities and charges. The unwinding of the discount of the provision to retirement benefits is charged to the profit and loss account and including in interest payable. The liability is reassessed annually and any changes in the estimates are included within the profit and loss account.
Pension costs
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
2
Tangible fixed assets
Plant and machinery
Motor vehicles
Fixtures, fittings and equipment
Total
£
£
£
£
Cost
At 6 April 2017
11,98019,95030,24962,179
Additions
-21,752-21,752
Disposals
-
(19,950)
-
(19,950)
At 5 April 2018
11,98021,75230,24963,981
Depreciation
At 6 April 2017
10,35012,04527,02949,424
Charge for the year
1,3875,4386447,469
Disposals
-
(12,045)
-
(12,045)
At 5 April 2018
11,7375,43827,67344,848
Net book values
At 5 April 2018
24316,3142,57619,133
At 5 April 2017
1,630
7,905
3,220
12,755
3
Debtors
2018
2017
£
£
Trade debtors
24,212-
Prepayments and accrued income
452597
24,664597
4
Creditors:
amounts falling due within one year
2018
2017
£
£
Bank loans and overdrafts
--
Other taxes and social security
2,1604,543
Accruals and deferred income
802802
2,9625,345
5
Loans and other debts due to members
2018
2017
£
£
Amounts due to members in respect of profits
61,649
80,907
61,649
80,907
Amounts falling due within one year
61,649
-
61,649
80,907
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
6
Related party disclosures
Controlling party
Immediate controlling party
No single party controls the LLP.
7
Additional information
Its registered number is:
SO300994
Its registered office is:
Grange
Linlithgow
West Lothian
EH49 7RH
Area Urban Design & Architecture LLPSO30099405 April 201806 April 2017false04 December 2018BTCSoftware AP Solution 2018 5.4.045.4.04SO3009942017-04-062018-04-05SO3009942018-04-05SO300994core:PlantMachinery2017-04-06SO300994core:MotorVehicles2017-04-06SO300994core:FurnitureFittingsToolsEquipment2017-04-06SO3009942017-04-06SO300994core:PlantMachinery2017-04-062018-04-05SO300994core:MotorVehicles2017-04-062018-04-05SO300994core:FurnitureFittingsToolsEquipment2017-04-062018-04-05SO300994core:PlantMachinery2018-04-05SO300994core:MotorVehicles2018-04-05SO300994core:FurnitureFittingsToolsEquipment2018-04-05SO300994core:PlantMachinery2017-04-05SO300994core:MotorVehicles2017-04-05SO300994core:FurnitureFittingsToolsEquipment2017-04-05SO3009942017-04-05SO300994core:WithinOneYear2018-04-05SO300994core:WithinOneYear2017-04-05SO300994bus:RegisteredOffice2017-04-062018-04-05SO300994bus:SmallEntities2017-04-062018-04-05SO300994bus:FullAccounts2017-04-062018-04-05SO300994bus:AuditExempt-NoAccountantsReport2017-04-062018-04-05SO300994bus:PartnerLLP22017-04-062018-04-05SO300994bus:LimitedLiabilityPartnershipLLP2017-04-062018-04-05iso4217:GBP