Caseware UK (AP4) 2021.0.152 2021.0.152 5falsetrue2021-01-01No description of principal activity5trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC425820 2021-01-01 2021-12-31 OC425820 2020-01-01 2020-12-31 OC425820 2021-12-31 OC425820 2020-12-31 OC425820 c:OfficeEquipment 2021-01-01 2021-12-31 OC425820 c:OfficeEquipment 2021-12-31 OC425820 c:OfficeEquipment 2020-12-31 OC425820 c:OfficeEquipment c:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 OC425820 c:ComputerEquipment 2021-01-01 2021-12-31 OC425820 c:ComputerEquipment 2021-12-31 OC425820 c:ComputerEquipment 2020-12-31 OC425820 c:ComputerEquipment c:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 OC425820 c:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 OC425820 c:Goodwill 2021-12-31 OC425820 c:Goodwill 2020-12-31 OC425820 c:CurrentFinancialInstruments 2021-12-31 OC425820 c:CurrentFinancialInstruments 2020-12-31 OC425820 c:CurrentFinancialInstruments c:WithinOneYear 2021-12-31 OC425820 c:CurrentFinancialInstruments c:WithinOneYear 2020-12-31 OC425820 d:FRS102 2021-01-01 2021-12-31 OC425820 d:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 OC425820 d:FullAccounts 2021-01-01 2021-12-31 OC425820 d:LimitedLiabilityPartnershipLLP 2021-01-01 2021-12-31 OC425820 c:WithinOneYear 2021-12-31 OC425820 c:WithinOneYear 2020-12-31 OC425820 2 2021-01-01 2021-12-31 OC425820 c:Goodwill c:OwnedIntangibleAssets 2021-01-01 2021-12-31 OC425820 d:PartnerLLP1 2021-01-01 2021-12-31 OC425820 c:FurtherSpecificReserve3ComponentTotalEquity 2021-12-31 OC425820 c:FurtherSpecificReserve3ComponentTotalEquity 2020-12-31 iso4217:GBP xbrli:pure

Registered number: OC425820










Katz Partners LLP








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 December 2021

 
Katz Partners LLP
 
  
Chartered accountants' report to the members on the preparation of the unaudited statutory financial statements of Katz Partners LLP for the year ended 31 December 2021

In order to assist you to fulfil your duties under the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), we have prepared for your approval the financial statements of Katz Partners LLP for the year ended 31 December 2021 which comprise  the Balance sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the members in accordance with the terms of our engagement letter dated 22 January 2020Our work has been undertaken solely to prepare for your approval the financial statements of Katz Partners LLP  and state those matters that we have agreed to state to the Katz Partners LLP's members in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Katz Partners LLP and its members for our work or for this report. 

It is your duty to ensure that Katz Partners LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Katz Partners LLP. You consider that Katz Partners LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Katz Partners LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
 
Chartered Accountants
  
37 St Margaret's Street
Canterbury
Kent
CT1 2TU
28 April 2022
Page 1

 
Katz Partners LLP
Registered number: OC425820

Balance sheet
As at 31 December 2021

2021
2020
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
29,166

Tangible assets
 5 
3,717
8,559

  
3,717
37,725

Current assets
  

Debtors: amounts falling due within one year
 6 
360,950
298,066

Cash at bank and in hand
 7 
55,706
28,238

  
416,656
326,304

Creditors: Amounts Falling Due Within One Year
 8 
(244,988)
(331,155)

Net current assets/(liabilities)
  
 
 
171,668
 
 
(4,851)

Total assets less current liabilities
  
175,385
32,874

  

Net assets
  
175,385
32,874


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 9 
175,385
32,874

  
175,385
32,874

  

  
175,385
32,874


Total members' interests
  

Loans and other debts due to members
 9 
175,385
32,874

  
175,385
32,874


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.
Page 2

 
Katz Partners LLP
Registered number: OC425820

Balance sheet (continued)
As at 31 December 2021


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 statement of comprehensive income 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 on 28 April 2022.




Davina Katz
Designated member

The notes on pages 4 to 9 form part of these financial statements.

Katz Partners LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.
Page 3

 
Katz Partners LLP
 

 
Notes to the financial statements
For the year ended 31 December 2021

1.


General information

Katz Partners LLP is a limited liability partnership registered in the UK and England. Partnership number OC425820. 
The company's registered office is 21 Gloucester Place, London, W1U 8HR. 
The financial statements have been presented in Sterling (£).

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

Foreign currency translation

Functional and presentation currency

The LLP's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 4

 
Katz Partners LLP
 

 
Notes to the financial statements
For the year ended 31 December 2021

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the LLP as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Pensions

Defined contribution pension plan

The LLP operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the LLP in independently administered funds.

  
2.7

Other intangible assets

Intangible assets represent client lists acquired from the members' previous firm, these are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life of three years.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
Katz Partners LLP
 

 
Notes to the financial statements
For the year ended 31 December 2021

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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 average monthly number of employees during the year was 5 (2020 - 5).

Page 6

 
Katz Partners LLP
 

 
Notes to the financial statements
For the year ended 31 December 2021

4.


Intangible assets




Client lists

£



Cost


At 1 January 2021
87,500



At 31 December 2021

87,500



Amortisation


At 1 January 2021
58,334


Charge for the year on owned assets
29,166



At 31 December 2021

87,500



Net book value



At 31 December 2021
-



At 31 December 2020
29,166




5.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2021
2,324
12,893
15,217



At 31 December 2021

2,324
12,893
15,217



Depreciation


At 1 January 2021
673
5,985
6,658


Charge for the year on owned assets
544
4,298
4,842



At 31 December 2021

1,217
10,283
11,500



Net book value



At 31 December 2021
1,107
2,610
3,717



At 31 December 2020
1,651
6,908
8,559

Page 7

 
Katz Partners LLP
 

 
Notes to the financial statements
For the year ended 31 December 2021

6.


Debtors

2021
2020
£
£


Trade debtors
305,217
245,841

Prepayments and accrued income
54,648
49,421

Amounts recoverable contracts
1,085
2,804

360,950
298,066



7.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
55,706
28,238

55,706
28,238



8.


Creditors: Amounts falling due within one year

2021
2020
£
£

Trade creditors
17,066
7,667

Other taxation and social security
144,671
256,153

Other creditors
68,439
54,277

Accruals and deferred income
14,812
13,058

244,988
331,155


Page 8

 
Katz Partners LLP
 

 
Notes to the financial statements
For the year ended 31 December 2021

9.


Loans and other debts due to members


2021
2020
£
£



Other amounts due to members
(175,385)
(32,874)

(175,385)
(32,874)

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

2021
2020
£
£



Falling due within one year
(175,385)
(32,874)

(175,385)
(32,874)

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


10.


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
48,341
39,028

48,341
39,028


11.


Controlling party

The LLP is controlled by the Designated Member Davina Katz. 

Page 9