Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.19truetrue212022-04-01No description of principal activitytrue OC310798 2022-04-01 2023-03-31 OC310798 2021-04-01 2022-03-31 OC310798 2023-03-31 OC310798 2022-03-31 OC310798 c:Buildings 2022-04-01 2023-03-31 OC310798 c:Buildings 2023-03-31 OC310798 c:Buildings 2022-03-31 OC310798 c:Buildings c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC310798 c:FurnitureFittings 2022-04-01 2023-03-31 OC310798 c:FurnitureFittings 2023-03-31 OC310798 c:FurnitureFittings 2022-03-31 OC310798 c:FurnitureFittings c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC310798 c:OfficeEquipment 2022-04-01 2023-03-31 OC310798 c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC310798 c:CurrentFinancialInstruments 2023-03-31 OC310798 c:CurrentFinancialInstruments 2022-03-31 OC310798 c:Non-currentFinancialInstruments 2023-03-31 OC310798 c:Non-currentFinancialInstruments 2022-03-31 OC310798 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC310798 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 OC310798 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 OC310798 c:Non-currentFinancialInstruments c:AfterOneYear 2022-03-31 OC310798 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-03-31 OC310798 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2022-03-31 OC310798 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-03-31 OC310798 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2022-03-31 OC310798 c:FurtherSpecificTypeProvisionContingentLiability4ComponentTotalProvisionsContingentLiabilities 2023-03-31 OC310798 c:FurtherSpecificTypeProvisionContingentLiability4ComponentTotalProvisionsContingentLiabilities 2022-03-31 OC310798 d:FRS102 2022-04-01 2023-03-31 OC310798 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC310798 d:FullAccounts 2022-04-01 2023-03-31 OC310798 d:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC310798 c:WithinOneYear 2023-03-31 OC310798 c:WithinOneYear 2022-03-31 OC310798 c:BetweenOneFiveYears 2023-03-31 OC310798 c:BetweenOneFiveYears 2022-03-31 OC310798 2 2022-04-01 2023-03-31 OC310798 d:PartnerLLP1 2022-04-01 2023-03-31 OC310798 d:PartnerLLP2 2022-04-01 2023-03-31 OC310798 d:PartnerLLP3 2022-04-01 2023-03-31 OC310798 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC310798 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-03-31 OC310798 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC310798 c:FurtherSpecificReserve3ComponentTotalEquity 2022-03-31 iso4217:GBP xbrli:pure


Registered number: OC310798












BROSS BENNETT LLP
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

 

BROSS BENNETT LLP

CONTENTS



Page
Information
 
1
Balance sheet
 
2 - 3
Reconciliation of members' interests
 
4
Notes to the financial statements
 
5 - 12

 

BROSS BENNETT LLP

INFORMATION



Designated Members
R Bross
S Bennett
A Witkover

LLP registered number
OC310798

Registered office
Stable House
64a Highgate High Street
London
N6 5HX

Accountants
Blick Rothenberg Limited
Chartered Accountants
16 Great Queen Street
Covent Garden
London
WC2B 5AH

- 1 -


 
REGISTERED NUMBER:OC310798
BROSS BENNETT LLP

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
18,884
22,121

  
18,884
22,121

Current assets
  

Debtors: amounts falling due within one year
 5 
654,390
729,291

Cash at bank and in hand
  
462,361
468,541

  
1,116,751
1,197,832

Creditors: amounts falling due within one year
 6 
(265,183)
(341,650)

Net current assets
  
 
 
851,568
 
 
856,182

Total assets less current liabilities
  
870,452
878,303

Creditors: amounts falling due after more than one year
 7 
(112,500)
(171,740)

  
757,952
706,563

Provisions for liabilities
  

Other provisions
  
(19,750)
(19,750)

  
 
 
(19,750)
 
 
(19,750)

Net assets
  
738,202
686,813


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 10 
713,202
661,813

  
713,202
661,813

Members' other interests
  

Members' capital classified as equity
  
25,000
25,000

  
 
25,000
 
25,000

  
738,202
686,813


Total members' interests
  

Loans and other debts due to members
 10 
713,202
661,813

Members' other interests
  
25,000
25,000

  
738,202
686,813

- 2 -


 
REGISTERED NUMBER:OC310798
BROSS BENNETT LLP
    
BALANCE SHEET (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 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: 




R Bross
Designated member

Date: 8 November 2023

The notes on pages 5 to 12 form part of these financial statements.
- 3 -

 

BROSS BENNETT LLP

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2023









Members' capital (classified as equity)
Other reserves (equity)
    Total   (equity)
Other amounts (debt)
Total

£
£
£
£
£

Amounts due to members 
924,616


Balance at 1 April 2021 
25,000
-
25,000
924,616
949,616

Profit for the year available for discretionary division among members
 
-
644,117
644,117
-
644,117

Members' interests after profit for the year
25,000
644,117
669,117
924,616
1,593,733

Other division of profits
-
(644,117)
(644,117)
644,117
-

Drawings on account and distribution of profit
-
-
-
(906,920)
(906,920)

Amounts due to members
661,813

Balance at 31 March 2022
25,000
-
25,000
661,813
686,813

Profit for the year available for discretionary division among members
 
-
719,809
719,809
-
719,809

Members' interests after profit for the year
25,000
719,809
744,809
661,813
1,406,622

Other division of profits
-
(719,809)
(719,809)
719,809
-

Drawings on account and distribution of profit
-
-
-
(668,420)
(668,420)

Amounts due to members
713,202

Balance at 31 March 2023 
25,000
-
25,000
713,202
738,202

The notes on pages 5 to 12 form part of these financial statements.

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.

- 4 -

 

BROSS BENNETT LLP

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

1.


General information

Bross Bennett LLP ("the LLP") is a limited liability partnership incorporated in England and Wales. Its registered office is Stable House, 64a Highgate High Street, London, N6 5HX.
The financial statements are 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

Going concern

The LLP has adequate financial resources and, as a consequence, the designated members believe that the LLP is well placed to manage its business risk successfully. After making enquiries, the designated members have a reasonable expectation that the LLP has adequate resources to continue its operational existence and meet its liabilities as they fall due for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. 

 
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

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the profit and loss account in the same period as the related expenditure.

- 5 -

 

BROSS BENNETT LLP

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

2.Accounting policies (continued)

 
2.5

Interest income

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

 
2.6

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.

 
2.7

Borrowing costs

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

 
2.8

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.

 
2.9

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis unless otherwise stated.

Depreciation is provided on the following basis:

Freehold property
-
10%
straight line
Fixtures and fittings
-
25%
reducing balance
Office equipment
-
25%
reducing balance

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.

 
2.10

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.

- 6 -

 

BROSS BENNETT LLP

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

2.Accounting policies (continued)

  
2.11

Financial instruments

The LLP has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the LLP becomes party to the contractual provisions of the instrument. 
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the LLP after deducting all of its liabilities. 
The LLP’s policies for its major classes of financial assets and financial liabilities are set out below. 
Financial assets
Basic financial assets, including trade debtors and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Financial liabilities
Basic financial liabilities, including trade and other creditors and bank loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Impairment of financial assets
Financial assets 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 profit and loss account. 
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. 
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

 
- 7 -

 

BROSS BENNETT LLP

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

2.Accounting policies (continued)

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. 
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the LLP a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the LLP becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.


3.


Employees

The average monthly number of employees, including directors, during the year was 21 (2022 - 19).

- 8 -

 

BROSS BENNETT LLP

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

4.


Tangible fixed assets





Freehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 April 2022
57,615
218,296
275,911


Additions
-
2,684
2,684



At 31 March 2023

57,615
220,980
278,595



Depreciation


At 1 April 2022
57,615
196,175
253,790


Charge for the year on owned assets
-
5,921
5,921



At 31 March 2023

57,615
202,096
259,711



Net book value



At 31 March 2023
-
18,884
18,884



At 31 March 2022
-
22,121
22,121

- 9 -

 

BROSS BENNETT LLP

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

5.


Debtors

2023
2022
£
£


Trade debtors
412,605
499,875

Prepayments and accrued income
241,785
229,416

654,390
729,291



6.


Creditors: amounts falling due within one year

2023
2022
£
£

Bank loans
50,057
50,000

Other loans
9,240
18,480

Trade creditors
415
1,278

Other taxation and social security
136,856
127,758

Other creditors
3,343
2,773

Accruals and deferred income
65,272
141,361

265,183
341,650



7.


Creditors: amounts falling due after more than one year

2023
2022
£
£

Bank loans
112,500
162,500

Other loans
-
9,240

112,500
171,740


- 10 -

 

BROSS BENNETT LLP

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

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
50,057
50,000

Other loans
9,240
18,480


59,297
68,480

Amounts falling due 1-2 years

Bank loans
50,000
50,000

Other loans
-
9,240


50,000
59,240

Amounts falling due 2-5 years

Bank loans
62,500
112,500


171,797
240,220



9.


Provisions





Dilapidations provision

£





At 1 April 2022
19,750



At 31 March 2023
19,750

- 11 -

 

BROSS BENNETT LLP

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

10.


Loans and other debts due to members


2023
2022
£
£



Other amounts due to members
(713,202)
(661,813)

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

2023
2022
£
£



Falling due within one year
(713,202)
(661,813)

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


11.


Pension commitments

The LLP operates 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 £15,227 (2022: £12,969). Contributions totalling £3,343 (2022: £2,773) were payable to the fund at the balance sheet date.


12.


Commitments under operating leases

At 31 March 2023 the LLP had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
82,500
82,500

Later than 1 year and not later than 5 years
123,750
206,250

206,250
288,750

 
- 12 -