Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-3172falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-04-01No description of principal activity76truetrue OC424615 2022-04-01 2023-03-31 OC424615 2021-04-01 2022-03-31 OC424615 2023-03-31 OC424615 2022-03-31 OC424615 2021-04-01 OC424615 c:Buildings 2022-04-01 2023-03-31 OC424615 c:Buildings 2023-03-31 OC424615 c:Buildings 2022-03-31 OC424615 c:Buildings c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC424615 c:PlantMachinery 2022-04-01 2023-03-31 OC424615 c:PlantMachinery 2023-03-31 OC424615 c:PlantMachinery 2022-03-31 OC424615 c:PlantMachinery c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC424615 c:MotorVehicles 2022-04-01 2023-03-31 OC424615 c:MotorVehicles 2023-03-31 OC424615 c:MotorVehicles 2022-03-31 OC424615 c:MotorVehicles c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC424615 c:OfficeEquipment 2022-04-01 2023-03-31 OC424615 c:OfficeEquipment 2023-03-31 OC424615 c:OfficeEquipment 2022-03-31 OC424615 c:OfficeEquipment c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC424615 c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC424615 c:CurrentFinancialInstruments 2023-03-31 OC424615 c:CurrentFinancialInstruments 2022-03-31 OC424615 c:Non-currentFinancialInstruments 2023-03-31 OC424615 c:Non-currentFinancialInstruments 2022-03-31 OC424615 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC424615 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 OC424615 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 OC424615 c:Non-currentFinancialInstruments c:AfterOneYear 2022-03-31 OC424615 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-03-31 OC424615 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2022-03-31 OC424615 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2023-03-31 OC424615 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2022-03-31 OC424615 c:OtherMiscellaneousReserve 2022-04-01 2023-03-31 OC424615 c:OtherMiscellaneousReserve 2023-03-31 OC424615 c:OtherMiscellaneousReserve 2021-04-01 2022-03-31 OC424615 c:OtherMiscellaneousReserve 2022-03-31 OC424615 c:OtherMiscellaneousReserve 2021-04-01 OC424615 d:FRS102 2022-04-01 2023-03-31 OC424615 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC424615 d:FullAccounts 2022-04-01 2023-03-31 OC424615 d:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC424615 c:WithinOneYear 2023-03-31 OC424615 c:WithinOneYear 2022-03-31 OC424615 c:BetweenOneFiveYears 2023-03-31 OC424615 c:BetweenOneFiveYears 2022-03-31 OC424615 2 2022-04-01 2023-03-31 OC424615 d:PartnerLLP3 2022-04-01 2023-03-31 OC424615 d:PartnerLLP7 2022-04-01 2023-03-31 OC424615 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-04-01 2023-03-31 OC424615 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC424615 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-03-31 OC424615 c:OtherCapitalInstrumentsClassifiedAsEquity 2021-04-01 OC424615 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC424615 c:FurtherSpecificReserve3ComponentTotalEquity 2022-03-31 iso4217:GBP xbrli:pure
Registered Number:OC424615













GOTELEE SOLICITORS LLP




UNAUDITED

ANNUAL REPORT AND FINANCIAL STATEMENTS
 
PAGES FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023











 
GOTELEE SOLICITORS LLP
 


CONTENTS



Pages
Balance Sheet
1 - 2
Statement of Changes in Equity
3
Notes to the Financial Statements
4 - 10



 
GOTELEE SOLICITORS LLP
REGISTERED NUMBER:OC424615


BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Notes
£
£

Fixed assets
  

Tangible assets
 4 
1,469,576
1,552,996

  
1,469,576
1,552,996

Current assets
  

Work in progress
  
275,335
389,764

Debtors: amounts falling due within one year
 5 
1,748,773
1,772,785

Cash at bank and in hand
 6 
1,351
196,597

  
2,025,459
2,359,146

Creditors: amounts falling due within one year
 7 
(1,675,704)
(1,736,985)

Net current assets
  
 
 
349,755
 
 
622,161

Total assets less current liabilities
  
1,819,331
2,175,157

Creditors: amounts falling due after more than one year
 8 
(979,227)
(1,130,481)

  

Net assets
  
840,104
1,044,676


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
  
240,104
344,676

  
240,104
344,676

Members' other interests
  

Members' capital classified as equity
  
600,000
700,000

  
840,104
1,044,676


Total members' interests
  

Loans and other debts due to members
  
240,104
344,676

Members' other interests
  
600,000
700,000

  
840,104
1,044,676


- 1 -



 
GOTELEE SOLICITORS LLP
REGISTERED NUMBER:OC424615

    
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 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 3 October 2023.




Peter Crix
Richard West
Designated member
Designated member

The notes on pages 4 to 10 form part of these financial statements.

- 2 -



 
GOTELEE SOLICITORS LLP
 


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023


Members capital (classified as equity)
Other reserves
Total equity

£
£
£


At 1 April 2021
700,000
-
700,000



Profit for year for discretionary division among members
-
866,335
866,335

Profit allocation to members' current accounts
-
(866,335)
(866,335)



At 1 April 2022
700,000
-
700,000



Profit for year for discretionary division among members
-
525,014
525,014


Contributions by and distributions to members

Profit allocation to members' current accounts
-
(525,014)
(525,014)

Capital amounts repaid to members
(100,000)
-
(100,000)


At 31 March 2023
600,000
-
600,000

The notes on pages 4 to 10 form part of these financial statements.

- 3 -



 
GOTELEE SOLICITORS LLP
 

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

1.


General information

Gotelee Solicitors LLP is a limited liability partnership incorporated in England and Wales. The registered office is 31 - 41 Elm Street, Ipswich, Suffolk, IP1 2AY. 

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 value added tax.

 
2.3

Going concern

The members have prepared forecasts which indicate that the LLP is expected to meet its liabilities as they fall due and continue to trade, being a period of at least 12 months from the date of approval of these financial statements. Accordingly, these financial statements have been prepared on the going concern basis. 

 
2.4

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.

  
2.5

Taxation

The income taxation provision is intended to meet the members liabilities at basic and higher rates for all income tax years of assessment up to 2022/2023.

 
2.6

Interest income

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

 
2.7

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.


- 4 -



 
GOTELEE SOLICITORS LLP
 

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

2.Accounting policies (continued)

 
2.8

Borrowing costs

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

 
2.9

Pensions

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 the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in other creditors as a liability in the Balance Sheet. The assets of the plan are held seperately from the LLP in independently administered funds.

 
2.10

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.


Freehold property
-
Not depreciated
Computer equipment
-
20% - 33% straight line
Motor vehicles
-
50% straight line
Office equipment
-
20% - 33% 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.

Freehold property is not depreciated on the basis that the useful economic life is so long, and the residual value is in excess of its cost and therefore any depreciation charge would be immaterial.

  
2.11

Work in progress

Work in progress attributable to fee-earners, other than equity partners, has been valued on the basis of the lower of cost and net realisable value. Cost includes all attributable overheads and net realisable value takes into account anticipated costs to completion.  Work in progress attributable to equity partners is excluded.


- 5 -



 
GOTELEE SOLICITORS LLP
 

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

2.Accounting policies (continued)

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 72 (2022 - 76).


- 6 -



 
GOTELEE SOLICITORS LLP
 

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

4.


Tangible fixed assets





Freehold property
Computer equipment
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost 


At 1 April 2022
1,318,471
354,859
29,826
160,335
1,863,491


Additions
-
-
-
5,090
5,090


Disposals
-
-
(4,406)
-
(4,406)



At 31 March 2023

1,318,471
354,859
25,420
165,425
1,864,175



Depreciation


At 1 April 2022
-
141,944
18,609
149,942
310,495


Charge for the year on owned assets
-
70,972
5,608
11,930
88,510


Disposals
-
-
(4,406)
-
(4,406)



At 31 March 2023

-
212,916
19,811
161,872
394,599



Net book value



At 31 March 2023
1,318,471
141,943
5,609
3,553
1,469,576



At 31 March 2022
1,318,471
212,915
11,217
10,393
1,552,996

- 7 -



 
GOTELEE SOLICITORS LLP
 

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

5.


Debtors

2023
2022
£
£


Trade debtors
981,999
865,517

Amounts due from partnership
-
12,971

Prepayments and accrued income
228,274
261,048

Unbilled revenue
538,500
633,249

1,748,773
1,772,785



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,351
196,597

Less: bank overdraft
(422,765)
(130,000)

(421,414)
66,597



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdraft
422,765
130,000

Bank loans
112,633
137,665

Other loans
274,949
321,609

Trade creditors
49,431
25,969

Income tax payable
94,691
197,411

Other taxation and social security
254,310
294,673

Other creditors
240,094
262,494

Accruals and deferred income
226,831
367,164

1,675,704
1,736,985



- 8 -



 
GOTELEE SOLICITORS LLP
 

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

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
931,548
1,018,076

Other loans
47,679
112,405

979,227
1,130,481


£1,044,181 of bank loans are secured by way of a fixed and floating charge over the freehold property of the LLP.


9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
112,633
137,665

Other loans
274,949
321,609


387,582
459,274


Amounts falling due 2-5 years

Bank loans
330,532
510,664

Other loans
47,679
112,405


378,211
623,069

Amounts falling due after more than 5 years

Bank loans
601,016
507,412

1,366,809
1,589,755


The loan due after 5 years attracts an interest rate of 2.25% over base rate and is repayable over 10 years. 


- 9 -



 
GOTELEE SOLICITORS LLP
 

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

10.


Loans and other amounts due to members

In the event of a winding up the amounts included in "Loans and other amounts due to members" will rank equally with unsecured creditors.


11.


Pension commitments

The LLP operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity  in an independently administered fund. The pension cost charge represents contributions payable by the entity to the fund and amounted to £194,926 (2022 - £142,373) . Contributions totalling £18,757 (2022 - £20,087) were payable to the fund at the balance sheet date and are included in creditors.


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
27,100
81,300

Later than 1 year and not later than 5 years
67,750
311,650

94,850
392,950


13.


Members capital accounts

2023
2022
£
£



P R Crix
100,000
100,000

H R Rowland
100,000
100,000

M D Boast
100,000
100,000

T J Humpage
100,000
100,000

M J Harnden
100,000
100,000

R A West
100,000
100,000

A Breckenridge
-
100,000

600,000
700,000

 

- 10 -