Caseware UK (AP4) 2021.0.152 2021.0.152 2021-06-302021-06-30true2020-07-01falseprovision of management services00trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC413065 2020-07-01 2021-06-30 OC413065 2019-07-01 2020-06-30 OC413065 2021-06-30 OC413065 2020-06-30 OC413065 c:ComputerEquipment 2020-07-01 2021-06-30 OC413065 c:ComputerEquipment 2021-06-30 OC413065 c:ComputerEquipment 2020-06-30 OC413065 c:ComputerEquipment c:OwnedOrFreeholdAssets 2020-07-01 2021-06-30 OC413065 c:CurrentFinancialInstruments 2021-06-30 OC413065 c:CurrentFinancialInstruments 2020-06-30 OC413065 c:CurrentFinancialInstruments c:WithinOneYear 2021-06-30 OC413065 c:CurrentFinancialInstruments c:WithinOneYear 2020-06-30 OC413065 d:FRS102 2020-07-01 2021-06-30 OC413065 d:AuditExempt-NoAccountantsReport 2020-07-01 2021-06-30 OC413065 d:FullAccounts 2020-07-01 2021-06-30 OC413065 d:LimitedLiabilityPartnershipLLP 2020-07-01 2021-06-30 OC413065 d:PartnerLLP1 2020-07-01 2021-06-30 OC413065 c:FurtherSpecificReserve2ComponentTotalEquity 2021-06-30 OC413065 c:FurtherSpecificReserve2ComponentTotalEquity 2020-06-30 OC413065 c:FurtherSpecificReserve3ComponentTotalEquity 2021-06-30 OC413065 c:FurtherSpecificReserve3ComponentTotalEquity 2020-06-30 iso4217:GBP xbrli:pure

Registered number: OC413065













AXIL ADVISERS LLP
UNAUDITED
FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2021

 
AXIL ADVISERS LLP
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 6


 
AXIL ADVISERS LLP
REGISTERED NUMBER:OC413065

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,449
19,142

Current assets
  

Debtors: amounts falling due within one year
 5 
3,092,547
3,483,850

Cash at bank and in hand
  
11,386
368

  
3,103,933
3,484,218

Current Liabilities
  

Creditors: Amounts Falling Due Within One Year
 6 
(192,343)
(514,998)

Net current assets
  
 
 
2,911,590
 
 
2,969,220

Total assets less current liabilities
  
2,917,039
2,988,362

  

Net assets
  
2,917,039
2,988,362


Represented by:
  

Loans and other debts due to members within one year
  

Members' capital classified as a liability
  
2,915,688
3,229,341

  
2,915,688
3,229,341

Members' other interests
  

Other reserves classified as equity
  
1,351
(240,979)

  
 
1,351
 
(240,979)

  
2,917,039
2,988,362


Total members' interests
  

Loans and other debts due to members
  
2,915,688
3,229,341

Members' other interests
  
1,351
(240,979)

  
2,917,039
2,988,362


Page 1

 
AXIL ADVISERS LLP
REGISTERED NUMBER:OC413065
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 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 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 13 September 2022.




S A A Naqvi
Designated member

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
AXIL ADVISERS LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021

1.


General information

Axil Advisers LLP is a limited liability partnership registered in England and Wales. Its registered office address and principal place of business is at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire WD6 1JD.
The principal activity of the LLP during the year was that of the provision of management services.

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue is recognised once the services have been provided.

 
2.3

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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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:

Computer equipment
-
5 years straight line

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.

Page 3

 
AXIL ADVISERS LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021

2.Accounting policies (continued)

 
2.4

Basic financial instruments

Basic financial instruments include trade and other debtors, trade and other creditors, cash and bank balances, and related party advances and balances due.
Trade and other debtors are recognised initially at the transaction price less attributable  transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less impairment losses in the case of trade and other debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest.
Cash and cash equivalents comprise cash balances.

 
2.5

Pensions

The LLP contributes to 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 the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the LLP in independently administered funds.

 
2.6

Taxation

No provision for taxation on profits of the LLP is made in the financial statements. Each member is exclusively liable for any tax liabilities arising out of their interest in the LLP, which will be assessed on the individual members and not the LLP.


3.


Employees

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

Page 4

 
AXIL ADVISERS LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021

4.


Tangible fixed assets





Computer equipment

£



Cost


At 1 July 2020
68,463



At 30 June 2021

68,463



Depreciation


At 1 July 2020
49,321


Charge for the year on owned assets
13,693



At 30 June 2021

63,014



Net book value



At 30 June 2021
5,449



At 30 June 2020
19,142


5.


Debtors

2021
2020
£
£


Trade debtors
2,989,890
3,074,441

Other debtors
46,748
9,323

Prepayments and accrued income
-
363,221

Tax recoverable
55,909
36,864

3,092,547
3,483,849


Page 5

 
AXIL ADVISERS LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021

6.


Creditors: Amounts falling due within one year

2021
2020
£
£

Trade creditors
139,156
174,394

Other creditors
37,910
48,443

Accruals and deferred income
15,277
292,161

192,343
514,998





7.


Pension commitments

The LLP contributes to a defined contributions pension scheme. The assets of the scheme are held separately from those of the LLP in an independently administered fund. The pension cost charge represents contributions payable by the LLP to the fund and amounted to £Nil (2020 - £656). At the reporting date £Nil (2020 - £10,533) was due to the fund.

 
Page 6