IRIS Accounts Production v23.3.0.418 OC365571 designated member designated member 1.4.22 31.3.23 31.3.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC3655712022-03-31OC3655712023-03-31OC3655712022-04-012023-03-31OC3655712021-03-31OC3655712021-04-012022-03-31OC3655712022-03-31OC365571ns10:Originalns15:EnglandWales2022-04-012023-03-31OC365571ns14:PoundSterlingns10:Original2022-04-012023-03-31OC365571ns10:Originalns10:Director12022-04-012023-03-31OC365571ns10:Original2022-04-012023-03-31OC365571ns10:Originalns10:Director22022-04-012023-03-31OC365571ns10:Original2023-03-31OC365571ns10:Originalns10:LimitedLiabilityPartnershipLLP2022-04-012023-03-31OC365571ns10:Originalns10:SmallEntities2022-04-012023-03-31OC365571ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-31OC365571ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-31OC365571ns10:LimitedLiabilityPartnershipsSORPns10:Original2022-04-012023-03-31OC365571ns10:Originalns10:FullAccounts2022-04-012023-03-31OC365571ns10:Original12022-04-012023-03-31OC365571ns10:Original2022-03-31OC365571ns10:Originalns5:CurrentFinancialInstruments2023-03-31OC365571ns10:Originalns5:CurrentFinancialInstruments2022-03-31OC365571ns10:Originalns5:Non-currentFinancialInstruments2023-03-31OC365571ns10:Originalns5:Non-currentFinancialInstruments2022-03-31OC365571ns10:Originalns10:RegisteredOffice2022-04-012023-03-31OC365571ns10:Originalns5:NetGoodwill2022-04-012023-03-31OC365571ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-04-012023-03-31OC365571ns10:Originalns5:LandBuildings2022-04-012023-03-31OC365571ns10:Originalns5:PlantMachinery2022-04-012023-03-31OC365571ns10:Original2021-04-012022-03-31OC365571ns10:Originalns5:NetGoodwill2022-03-31OC365571ns10:Originalns5:NetGoodwill2023-03-31OC365571ns10:Originalns5:NetGoodwill2022-03-31OC365571ns5:LongLeaseholdAssetsns10:Originalns5:LandBuildings2022-03-31OC365571ns10:Originalns5:FurnitureFittings2022-03-31OC365571ns10:Original2022-03-31OC365571ns5:LongLeaseholdAssetsns10:Originalns5:LandBuildings2022-04-012023-03-31OC365571ns10:Originalns5:FurnitureFittings2022-04-012023-03-31OC365571ns5:LongLeaseholdAssetsns10:Originalns5:LandBuildings2023-03-31OC365571ns10:Originalns5:FurnitureFittings2023-03-31OC365571ns5:LongLeaseholdAssetsns10:Originalns5:LandBuildings2022-03-31OC365571ns10:Originalns5:FurnitureFittings2022-03-31OC365571ns10:Originalns5:CostValuation2022-03-31OC365571ns10:Originalns5:DisposalsRepaymentsInvestments2023-03-31OC365571ns10:Originalns5:CostValuation2023-03-31OC365571ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31OC365571ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-31
REGISTERED NUMBER: OC365571 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Haines Watts South West LLP

Haines Watts South West LLP (Registered number: OC365571)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Haines Watts South West LLP (Registered number: OC365571)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 714,169 779,485
Tangible assets 5 22,459 28,073
Investments 6 - 3,241
736,628 810,799

CURRENT ASSETS
Debtors 7 362,248 293,950
Cash at bank and in hand 217,809 171,673
580,057 465,623
CREDITORS
Amounts falling due within one year 8 374,417 321,538
NET CURRENT ASSETS 205,640 144,085
TOTAL ASSETS LESS CURRENT LIABILITIES 942,268 954,884

CREDITORS
Amounts falling due after more than one
year

9

(61,720

)

(138,484

)

PROVISIONS FOR LIABILITIES (26,550 ) (27,705 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 853,998 788,695

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

853,998

788,695

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 853,998 788,695

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

Haines Watts South West LLP (Registered number: OC365571)

Balance Sheet - continued
31 March 2023


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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 5 October 2023 and were signed by:




Mrs S Reed - Designated member




G C Fairclough - Designated member


Haines Watts South West LLP (Registered number: OC365571)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Haines Watts South West LLP is registered in England and Wales. The LLP's registered number and registered office address are as below:

Registered number: OC365571

Registered office: 9 Western Road
Launceston
Cornwall
PL15 7AR

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill is generally amortised over 20 years from the date of acquisition. In 2021 goodwill was acquired with an expected remaining useful life of 10 years and so this cost is being written off over this shorter period.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 20% on reducing balance
Plant and machinery etc - 20% on reducing balance

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 19 (2022 - 15 ) .

Haines Watts South West LLP (Registered number: OC365571)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022 1,017,482
Additions 3,000
At 31 March 2023 1,020,482
AMORTISATION
At 1 April 2022 237,997
Charge for year 68,316
At 31 March 2023 306,313
NET BOOK VALUE
At 31 March 2023 714,169
At 31 March 2022 779,485

5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold and
improvements fittings Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 35,189 39,777 74,966
DEPRECIATION
At 1 April 2022 21,682 25,211 46,893
Charge for year 2,701 2,913 5,614
At 31 March 2023 24,383 28,124 52,507
NET BOOK VALUE
At 31 March 2023 10,806 11,653 22,459
At 31 March 2022 13,507 14,566 28,073

Haines Watts South West LLP (Registered number: OC365571)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2022 3,241
Disposals (3,241 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 3,241

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors and
accrued income 344,137 282,426
Other debtors 18,111 11,524
362,248 293,950

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 74,064 74,064
Trade creditors 14,744 22,502
Taxation and social security 84,489 72,747
Other creditors 201,120 152,225
374,417 321,538

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 61,720 135,784
Other creditors - 2,700
61,720 138,484

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

These amounts due to members rank after all other creditors.

11. RELATED PARTY DISCLOSURES

All transactions with connected parties are on normal commercial terms