Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-272023-02-27The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-02-28falseNo description of principal activity22truetrue OC415903 2022-02-28 2023-02-27 OC415903 2021-02-28 2022-02-27 OC415903 2023-02-27 OC415903 2022-02-27 OC415903 c:PlantMachinery 2022-02-28 2023-02-27 OC415903 c:PlantMachinery 2023-02-27 OC415903 c:PlantMachinery 2022-02-27 OC415903 c:PlantMachinery c:OwnedOrFreeholdAssets 2022-02-28 2023-02-27 OC415903 c:OfficeEquipment 2022-02-28 2023-02-27 OC415903 c:OfficeEquipment 2023-02-27 OC415903 c:OfficeEquipment 2022-02-27 OC415903 c:OfficeEquipment c:OwnedOrFreeholdAssets 2022-02-28 2023-02-27 OC415903 c:OwnedOrFreeholdAssets 2022-02-28 2023-02-27 OC415903 c:CurrentFinancialInstruments 2023-02-27 OC415903 c:CurrentFinancialInstruments 2022-02-27 OC415903 c:CurrentFinancialInstruments c:WithinOneYear 2023-02-27 OC415903 c:CurrentFinancialInstruments c:WithinOneYear 2022-02-27 OC415903 d:FRS102 2022-02-28 2023-02-27 OC415903 d:AuditExempt-NoAccountantsReport 2022-02-28 2023-02-27 OC415903 d:FullAccounts 2022-02-28 2023-02-27 OC415903 d:LimitedLiabilityPartnershipLLP 2022-02-28 2023-02-27 OC415903 d:PartnerLLP1 2022-02-28 2023-02-27 OC415903 d:PartnerLLP2 2022-02-28 2023-02-27 OC415903 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-02-27 OC415903 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-02-27 OC415903 c:FurtherSpecificReserve3ComponentTotalEquity 2023-02-27 OC415903 c:FurtherSpecificReserve3ComponentTotalEquity 2022-02-27 iso4217:GBP xbrli:pure

Registered number: OC415903









CRAIG & COLEMAN LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 27 FEBRUARY 2023

 
CRAIG & COLEMAN LLP
REGISTERED NUMBER: OC415903

BALANCE SHEET
AS AT 27 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 3 
18,600
4,168

  
18,600
4,168

Current assets
  

Debtors: amounts falling due within one year
 4 
6,654
4,108

Cash at bank and in hand
 5 
6,869
45,773

  
13,523
49,881

Creditors: Amounts Falling Due Within One Year
 6 
(6,308)
(8,904)

Net current assets
  
 
 
7,215
 
 
40,977

Total assets less current liabilities
  
25,815
45,145

  

Net assets
  
25,815
45,145


Represented by:
  

Loans and other debts due to members within one year
  

Members' capital classified as a liability
  
3,911
23,241

  
3,911
23,241

Members' other interests
  

Members' capital classified as equity
  
21,904
21,904

  
25,815
45,145


Total members' interests
  

Loans and other debts due to members
  
3,911
23,241

Members' other interests
  
21,904
21,904

  
25,815
45,145


Page 1

 
CRAIG & COLEMAN LLP
REGISTERED NUMBER: OC415903
    
BALANCE SHEET (CONTINUED)
AS AT 27 FEBRUARY 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 4 October 2023.




A Coleman
S Craig
Designated member
Designated member

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

Page 2

 
CRAIG & COLEMAN LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 FEBRUARY 2023

1.


General information

Craig & Coleman LLP is incorporated in England and Wales. The address of the registered office is given in the information page of these financial statements. The principal activity of the LLP is that of freelance video editors and camera operators.

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

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.

 
2.3

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

The LLP has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 28 February 2021 to continue to be charged over the period to the first market rent review rather than the term of the lease.

Page 3

 
CRAIG & COLEMAN LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 FEBRUARY 2023

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
2.6

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 the following basis:.


Plant and machinery
-
3 years straight line
Office equipment
-
3 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.

 
2.7

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 4

 
CRAIG & COLEMAN LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 FEBRUARY 2023

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.


3.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost or valuation


At 28 February 2022
14,347
-
14,347


Additions
9,098
9,491
18,589



At 27 February 2023

23,445
9,491
32,936



Depreciation


At 28 February 2022
10,179
-
10,179


Charge for the year on owned assets
2,840
1,317
4,157



At 27 February 2023

13,019
1,317
14,336



Net book value



At 27 February 2023
10,426
8,174
18,600



At 27 February 2022
4,168
-
4,168

Page 5

 
CRAIG & COLEMAN LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 FEBRUARY 2023

4.


Debtors

2023
2022
£
£


Trade debtors
5,544
4,108

Other debtors
1,110
-

6,654
4,108



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
6,869
45,773



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other taxation and social security
4,548
7,204

Accruals
1,760
1,700

6,308
8,904


 
Page 6