6 false false false false false false false false false false false false false false false false false No description of principal activity 2022-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 15,000 3,000 3,000 6,000 9,000 12,000 19,307 13,423 32,730 13,937 2,819 16,756 15,974 5,370 xbrli:pure xbrli:shares iso4217:GBP OC378909 2022-05-01 2023-04-30 OC378909 2023-04-30 OC378909 2022-04-30 OC378909 2021-05-01 2022-04-30 OC378909 2022-04-30 OC378909 2021-04-30 OC378909 core:NetGoodwill 2022-05-01 2023-04-30 OC378909 bus:Director1 2022-05-01 2023-04-30 OC378909 core:NetGoodwill 2022-04-30 OC378909 core:NetGoodwill 2023-04-30 OC378909 core:WithinOneYear 2023-04-30 OC378909 core:WithinOneYear 2022-04-30 OC378909 core:AfterOneYear 2023-04-30 OC378909 core:AfterOneYear 2022-04-30 OC378909 core:NetGoodwill 2022-04-30 OC378909 bus:SmallEntities 2022-05-01 2023-04-30 OC378909 bus:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 OC378909 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 OC378909 bus:LimitedLiabilityPartnershipLLP 2022-05-01 2023-04-30 OC378909 bus:FullAccounts 2022-05-01 2023-04-30 OC378909 core:OfficeEquipment 2022-05-01 2023-04-30 OC378909 core:OfficeEquipment 2022-04-30 OC378909 core:OfficeEquipment 2023-04-30
REGISTERED NUMBER: OC378909
CHARMAX LLP T/A MASON & CO SOLICITORS
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 April 2023
CHARMAX LLP T/A MASON & CO SOLICITORS
FINANCIAL STATEMENTS
YEAR ENDED 30th APRIL 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
CHARMAX LLP T/A MASON & CO SOLICITORS
STATEMENT OF FINANCIAL POSITION
30 April 2023
2023
2022
Note
£
£
£
£
Fixed assets
Intangible assets
5
9,000
12,000
Tangible assets
6
15,974
5,370
--------
--------
24,974
17,370
Current assets
Debtors
7
479,774
441,682
Cash at bank and in hand
59,662
27,727
---------
---------
539,436
469,409
Creditors: amounts falling due within one year
8
517,599
435,840
---------
---------
Net current assets
21,837
33,569
--------
--------
Total assets less current liabilities
46,811
50,939
Creditors: amounts falling due after more than one year
9
21,667
31,667
--------
--------
Net assets
25,144
19,272
--------
--------
Represented by:
Loans and other debts due to members
Other amounts
10
25,144
19,272
--------
--------
Members' other interests
Other reserves
--------
--------
25,144
19,272
--------
--------
Total members' interests
Loans and other debts due to members
10
25,144
19,272
Members' other interests
--------
--------
25,144
19,272
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.
CHARMAX LLP T/A MASON & CO SOLICITORS
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2023
For the year ending 30th April 2023 the LLP 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) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the members and authorised for issue on 13 November 2023 , and are signed on their behalf by:
M.C. Mason
Designated Member
Registered number: OC378909
CHARMAX LLP T/A MASON & CO SOLICITORS
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30th APRIL 2023
1.
General information
The LLP is registered in England and Wales. The address of the registered office is Charmax House, 14 Old Market Place, Altrincham, Cheshire, WA14 4DF.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2018 (SORP 2018).
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the LLP will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the LLP recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 6 (2022: 6 ).
5.
Intangible assets
Goodwill
£
Cost
At 1st May 2022 and 30th April 2023
15,000
--------
Amortisation
At 1st May 2022
3,000
Charge for the year
3,000
--------
At 30th April 2023
6,000
--------
Carrying amount
At 30th April 2023
9,000
--------
At 30th April 2022
12,000
--------
6.
Tangible assets
Equipment
Total
£
£
Cost
At 1st May 2022
19,307
19,307
Additions
13,423
13,423
--------
--------
At 30th April 2023
32,730
32,730
--------
--------
Depreciation
At 1st May 2022
13,937
13,937
Charge for the year
2,819
2,819
--------
--------
At 30th April 2023
16,756
16,756
--------
--------
Carrying amount
At 30th April 2023
15,974
15,974
--------
--------
At 30th April 2022
5,370
5,370
--------
--------
7.
Debtors
2023
2022
£
£
Trade debtors
425,079
436,465
Other debtors
54,695
5,217
---------
---------
479,774
441,682
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,000
56,158
Trade creditors
3,557
3,556
Social security and other taxes
1,713
21,258
Other creditors
502,329
354,868
---------
---------
517,599
435,840
---------
---------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
21,667
31,667
--------
--------
10.
Loans and other debts due to members
2023
2022
£
£
Amounts owed to members in respect of profits
25,144
19,272
--------
--------