Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false2022-04-01falseThe principal activity of the limited liability partnership continued to be that of consultancy services.22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC370646 2022-04-01 2023-03-31 OC370646 2021-04-01 2022-03-31 OC370646 2023-03-31 OC370646 2022-03-31 OC370646 c:CurrentFinancialInstruments 2023-03-31 OC370646 c:CurrentFinancialInstruments 2022-03-31 OC370646 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC370646 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 OC370646 d:FRS102 2022-04-01 2023-03-31 OC370646 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC370646 d:FullAccounts 2022-04-01 2023-03-31 OC370646 d:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC370646 d:PartnerLLP1 2022-04-01 2023-03-31 OC370646 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC370646 c:FurtherSpecificReserve3ComponentTotalEquity 2022-03-31 iso4217:GBP xbrli:pure

Registered number: OC370646









BITEL LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
BITEL LLP
 

CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 5


 
BITEL LLP
REGISTERED NUMBER: OC370646

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
10,350
5,175

Cash at bank and in hand
 6 
18,431
23,008

  
28,781
28,183

Creditors: Amounts Falling Due Within One Year
 7 
(1,800)
(1,800)

Net current assets
  
 
 
26,981
 
 
26,383

Total assets less current liabilities
  
26,981
26,383

  

Net assets
  
26,981
26,383


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
  
26,981
26,383

  
26,981
26,383

  

  
26,981
26,383


Total members' interests
  

Loans and other debts due to members
  
26,981
26,383

  
26,981
26,383


Page 1

 
BITEL LLP
REGISTERED NUMBER: OC370646
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

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 23 October 2023.




................................................
N A Bitel
Designated member

The notes on pages 3 to 5 form part of these financial statements.

Bitel 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 2

 
BITEL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Bitel LLP is a limited liability partnership incorporated in England and Wales. The registered office is 39 Litchfield Way, London, NW11 6NU.
The limited liability partnership's principal activities are disclosed in the Members' Report. 
The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £. 

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

Revenue

Turnover represents sales of consultancy services. 
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a portion of total costs. Where the outcome cannot be estimated reliably revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered. 

 
2.3

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense' in.

 
2.4

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 3

 
BITEL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

 
2.7

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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the limited liability partnership’s accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Page 4

 
BITEL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


5.


Debtors

2023
2022
£
£


Trade debtors
10,350
5,175

10,350
5,175



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
18,432
23,008

18,432
23,008



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Accruals and deferred income
1,800
1,800

1,800
1,800


 
Page 5