Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31No description of principal activity2021-01-01false00falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC360005 2021-01-01 2021-12-31 OC360005 2020-01-01 2020-12-31 OC360005 2021-12-31 OC360005 2020-12-31 OC360005 c:CurrentFinancialInstruments 2021-12-31 OC360005 c:CurrentFinancialInstruments 2020-12-31 OC360005 c:CurrentFinancialInstruments 2 2021-12-31 OC360005 c:CurrentFinancialInstruments 2 2020-12-31 OC360005 c:Non-currentFinancialInstruments 2021-12-31 OC360005 c:Non-currentFinancialInstruments 2020-12-31 OC360005 c:CurrentFinancialInstruments c:WithinOneYear 2021-12-31 OC360005 c:CurrentFinancialInstruments c:WithinOneYear 2020-12-31 OC360005 c:Non-currentFinancialInstruments c:AfterOneYear 2021-12-31 OC360005 c:Non-currentFinancialInstruments c:AfterOneYear 2020-12-31 OC360005 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2021-12-31 OC360005 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2020-12-31 OC360005 e:FRS102 2021-01-01 2021-12-31 OC360005 e:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 OC360005 e:FullAccounts 2021-01-01 2021-12-31 OC360005 e:LimitedLiabilityPartnershipLLP 2021-01-01 2021-12-31 OC360005 c:WithinOneYear 2021-12-31 OC360005 c:WithinOneYear 2020-12-31 OC360005 c:BetweenOneFiveYears 2021-12-31 OC360005 c:BetweenOneFiveYears 2020-12-31 OC360005 c:MoreThanFiveYears 2021-12-31 OC360005 c:MoreThanFiveYears 2020-12-31 OC360005 6 2021-01-01 2021-12-31 OC360005 e:PartnerLLP1 2021-01-01 2021-12-31 OC360005 c:OtherCapitalInstrumentsClassifiedAsEquity 2021-12-31 OC360005 c:OtherCapitalInstrumentsClassifiedAsEquity 2020-12-31 OC360005 c:FurtherSpecificReserve2ComponentTotalEquity 2021-12-31 OC360005 c:FurtherSpecificReserve2ComponentTotalEquity 2020-12-31 OC360005 c:FurtherSpecificReserve3ComponentTotalEquity 2021-12-31 OC360005 c:FurtherSpecificReserve3ComponentTotalEquity 2020-12-31 iso4217:GBP xbrli:pure
Registered number: OC360005









39 ESSEX CHAMBERS LLP

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

 
39 ESSEX CHAMBERS LLP
REGISTERED NUMBER: OC360005

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Investments
 4 
2
2

  
2
2

Current assets
  

Debtors: amounts falling due within one year
 5 
6,884,452
9,540,042

Cash at bank and in hand
 6 
27,325
11,206

  
6,911,777
9,551,248

Creditors: Amounts Falling Due Within One Year
 7 
(4,596,778)
(5,290,755)

Net current assets
  
 
 
2,314,999
 
 
4,260,493

Total assets less current liabilities
  
2,315,001
4,260,495

Creditors: amounts falling due after more than one year
 8 
-
(2,155,494)

  
2,315,001
2,105,001

  

Net assets
  
2,315,001
2,105,001


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 10 
4,320,000
4,140,000

  
4,320,000
4,140,000

Members' other interests
  

Members' capital classified as equity
  
770,000
740,000

Other reserves classified as equity
  
(2,774,999)
(2,774,999)

  
 
(2,004,999)
 
(2,034,999)

  
2,315,001
2,105,001


Total members' interests
  

Amounts due from members (included in debtors)
 5 
(450,000)
(650,000)

Loans and other debts due to members
 10 
4,320,000
4,140,000

Members' other interests
  
(2,004,999)
(2,034,999)

  
1,865,001
1,455,001


Page 1

 
39 ESSEX CHAMBERS LLP
REGISTERED NUMBER: OC360005

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity was entitled to exemption from audit 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.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the profit and loss account in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf by: 




Charles Cory-Wright QC
Designated member

Date: 25 July 2022

The notes on pages 4 to 7 form part of these financial statements.

Page 2

 
39 ESSEX CHAMBERS LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 DECEMBER 2021







EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Other reserves
Total
Other amounts
Total
Total

£
£
£
£
£
£

Members' interests after profit for the year
665,000
(2,774,999)
(2,109,999)
3,635,000
3,635,000
1,525,001

Amounts introduced by members
85,000
-
85,000
(145,000)
(145,000)
(60,000)

Repayment of capital
(10,000)
-
(10,000)
-
-
(10,000)

Amounts due to members
4,140,000
4,140,000

Amounts due from members
 



(650,000)
(650,000)


Balance at 31 December 2020
740,000
(2,774,999)
(2,034,999)
3,490,000
3,490,000
1,455,001

Members' interests after profit for the year
740,000
(2,774,999)
(2,034,999)
3,490,000
3,490,000
1,455,001

Amounts introduced by members
65,000
-
65,000
380,000
380,000
445,000

Repayment of capital
(35,000)
-
(35,000)
-
-
(35,000)

Amounts due to members
4,320,000
4,320,000

Amounts due from members
 



(450,000)
(450,000)


Balance at 31 December 2021 
770,000
(2,774,999)
(2,004,999)
3,870,000
3,870,000
1,865,001

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 3

 
39 ESSEX CHAMBERS LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

39 Essex Chambers LLP is a Limited Liability Partnership incorporated in England, United Kingdom. The LLP registered number is OC360005 and the registered office and trading address is 81 Chancery Lane London, WC2A 1DD. The Company is part of a group.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The following principal accounting policies have been applied:

 
2.2

Going concern

During the year the LLP has been affected by restrictions imposed by UK and overseas Governments in response to the COVID-19 pandemic.
The members consider that the resources available to the LLP will be sufficient for it to be able to continue as a going concern during the restrictions and once the restrictions are lifted. However, there is a high level of uncertainty about how long the restrictions will last and the level of demand once the restrictions have ended which could affect this assessment. The financial statements do not contain any adjustments that would be required if the LLP were not able to continue as a going concern

 
2.3

Revenue

Turnover comprises revenue recognised by the LLP in respect of services supplied during the year, exclusive of Value Added Tax

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
39 ESSEX CHAMBERS LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

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.

 
2.10

Financial instruments

The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The entity has no employees.

The average monthly number of employees, including directors, during the year was 0 (2020 - 0).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2021
2



At 31 December 2021
2





5.


Debtors

2021
2020
£
£


Amounts owed by group undertakings
2,082,674
4,052,492

Prepayments and accrued income
4,351,778
4,837,550

Amounts due from members
450,000
650,000

6,884,452
9,540,042


Page 5

 
39 ESSEX CHAMBERS LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

6.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
27,325
11,206

27,325
11,206



7.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank loans
-
208,205

Other creditors
245,000
245,000

Accruals and deferred income
4,351,778
4,837,550

4,596,778
5,290,755



8.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
-
2,155,494

-
2,155,494



9.


Loans


Analysis of the maturity of loans is given below:


2021
2020
£
£

Amounts falling due within one year

Bank loans
-
208,205


-
208,205

Amounts falling due 1-2 years

Bank loans
-
2,155,494


-
2,155,494



-
2,363,699


Bank loans totalling £nil (2020 - £2,363,699) are secured against the lease of the property. 

Page 6

 
39 ESSEX CHAMBERS LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

10.


Loans and other debts due to members


2021
2020
£
£



Other amounts due to members
(4,320,000)
(4,140,000)

(4,320,000)
(4,140,000)

Loans and other debts due to members may be further analysed as follows:

2021
2020
£
£



Falling due within one year
(4,320,000)
(4,140,000)

(4,320,000)
(4,140,000)

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.


11.


Commitments under operating leases

At 31 December 2021 the LLP had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2021
2020
£
£


Not later than 1 year
2,264,224
2,264,224

Later than 1 year and not later than 5 years
9,056,896
9,056,896

Later than 5 years
9,056,896
11,321,120

20,378,016
22,642,240


12.


Related party transactions

During the year the LLP charged £256,235 (2020 - £294,529) for services provided and £2,246,724 (2020 - £2,253,436) for premises provided to 39 Essex Chambers (Services) Limited, a subsidiary. 
The amount due from the company at the year end was £2,082,674 (2020 - £4,052,492). This amount is repayable on demand.
The amount due from members at the year end was £450,000 (2020 - £650,000) and at the year end the amount due to members amounted to £4,320,000 (2020 - £4,140,000).


Page 7