Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-31falsefalse2022-08-01No description of principal activity3129trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SO305487 2022-08-01 2023-07-31 SO305487 2021-08-01 2022-07-31 SO305487 2023-07-31 SO305487 2022-07-31 SO305487 c:Buildings 2022-08-01 2023-07-31 SO305487 c:Buildings 2023-07-31 SO305487 c:Buildings 2022-07-31 SO305487 c:Buildings c:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 SO305487 c:Buildings c:ShortLeaseholdAssets 2022-08-01 2023-07-31 SO305487 c:Buildings c:ShortLeaseholdAssets 2023-07-31 SO305487 c:Buildings c:ShortLeaseholdAssets 2022-07-31 SO305487 c:OfficeEquipment 2022-08-01 2023-07-31 SO305487 c:OfficeEquipment 2023-07-31 SO305487 c:OfficeEquipment 2022-07-31 SO305487 c:OfficeEquipment c:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 SO305487 c:OtherPropertyPlantEquipment 2022-08-01 2023-07-31 SO305487 c:OtherPropertyPlantEquipment 2023-07-31 SO305487 c:OtherPropertyPlantEquipment 2022-07-31 SO305487 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 SO305487 c:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 SO305487 c:CurrentFinancialInstruments 2023-07-31 SO305487 c:CurrentFinancialInstruments 2022-07-31 SO305487 c:Non-currentFinancialInstruments 2023-07-31 SO305487 c:Non-currentFinancialInstruments 2022-07-31 SO305487 c:CurrentFinancialInstruments c:WithinOneYear 2023-07-31 SO305487 c:CurrentFinancialInstruments c:WithinOneYear 2022-07-31 SO305487 c:Non-currentFinancialInstruments c:AfterOneYear 2023-07-31 SO305487 c:Non-currentFinancialInstruments c:AfterOneYear 2022-07-31 SO305487 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-07-31 SO305487 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2022-07-31 SO305487 d:FRS102 2022-08-01 2023-07-31 SO305487 d:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 SO305487 d:FullAccounts 2022-08-01 2023-07-31 SO305487 d:LimitedLiabilityPartnershipLLP 2022-08-01 2023-07-31 SO305487 c:WithinOneYear 2023-07-31 SO305487 c:WithinOneYear 2022-07-31 SO305487 c:BetweenOneFiveYears 2023-07-31 SO305487 c:BetweenOneFiveYears 2022-07-31 SO305487 2 2022-08-01 2023-07-31 SO305487 d:PartnerLLP1 2022-08-01 2023-07-31 SO305487 d:PartnerLLP2 2022-08-01 2023-07-31 SO305487 d:PartnerLLP4 2022-08-01 2023-07-31 SO305487 d:PartnerLLP5 2022-08-01 2023-07-31 SO305487 d:PartnerLLP6 2022-08-01 2023-07-31 SO305487 d:PartnerLLP7 2022-08-01 2023-07-31 SO305487 d:PartnerLLP9 2022-08-01 2023-07-31 SO305487 d:PartnerLLP10 2022-08-01 2023-07-31 SO305487 c:FurtherSpecificReserve3ComponentTotalEquity 2023-07-31 SO305487 c:FurtherSpecificReserve3ComponentTotalEquity 2022-07-31 iso4217:GBP xbrli:pure
Registered number: SO305487










INNES JOHNSTON LLP
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

 
INNES JOHNSTON LLP
 

INFORMATION




Designated Members
M D Alder
A M Oliver
Members
J L Forbes
J A Mitchell
C Forbes
S MacGregor


LLP registered number
SO305487

Registered office
95 - 99 Esplanade
Kirkcaldy
Fife
KY1 1RF

Accountants
EQ Accountants LLP
Chartered Accountants
Pentland House
Saltire Centre
Glenrothes
Fife
KY6 2AH


 
INNES JOHNSTON LLP
REGISTERED NUMBER: SO305487

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023

2023
2022
£
£

Fixed assets
  

Tangible assets
 4 
361,821
386,385

  
361,821
386,385

Current assets
  

Debtors: amounts falling due within one year
 5 
842,929
718,765

Cash at bank and in hand
  
337,532
399,203

  
1,180,461
1,117,968

Creditors: Amounts Falling Due Within One Year
 6 
(226,831)
(213,614)

Net current assets
  
 
 
953,630
 
 
904,354

Total assets less current liabilities
  
1,315,451
1,290,739

Creditors: amounts falling due after more than one year
 7 
(228,372)
(269,707)

  
1,087,079
1,021,032

  

Net assets
  
1,087,079
1,021,032


Represented by:
  

Loans and other debts due to members within one year
  

Members' capital classified as a liability
  
180,000
180,000

Other amounts
 9 
907,079
841,032

  
1,087,079
1,021,032

  

  
1,087,079
1,021,032


Total members' interests
  

Loans and other debts due to members
 9 
1,087,079
1,021,032

  
1,087,079
1,021,032

Page 1

 
INNES JOHNSTON LLP
REGISTERED NUMBER: SO305487

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 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 by: 




A M Oliver
M D Alder
Designated member
Designated member


Date: 31 October 2023

The notes on pages 3 to 7 form part of these financial statements.

Innes Johnston LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.

Page 2

 
INNES JOHNSTON LLP
 

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

1.


General information

Innes Johnston LLP is a limited liability partnership and incorporated in Scotland with registration number SO305487. The address of the registered office is the 95 - 99 Esplanade, Kirkcaldy, Fife, KY1 1RF.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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

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 Statement of income and retained earnings in the same period as the related expenditure.

 
2.4

Interest income

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

Page 3

 
INNES JOHNSTON LLP
 

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

2.Accounting policies (continued)

 
2.5

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 Statement of financial position. The assets of the plan are held separately from the LLP in independently administered funds.

 
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 a reducing balance basis and using straight line method.

Depreciation is provided on the following basis:

Freehold property
-
2% straight line
Freehold property improvements
-
5-10% straight line
Office equipment
-
25% straight line
Leasehold property improvements
-
over life of lease

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

Financial instruments

The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the LLP's Statement of financial position when the LLP becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 31 (2022 - 29).

Page 4

 
INNES JOHNSTON LLP
 

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

4.


Tangible fixed assets





Freehold property
Leasehold property improve-  ments
Freehold property improve-ments
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 August 2022
271,966
28,539
159,320
261,605
721,430


Additions
-
-
-
7,031
7,031



At 31 July 2023

271,966
28,539
159,320
268,636
728,461



Depreciation


At 1 August 2022
29,088
17,810
50,411
237,736
335,045


Charge for the year on owned assets
5,439
2,854
11,124
12,178
31,595



At 31 July 2023

34,527
20,664
61,535
249,914
366,640



Net book value



At 31 July 2023
237,439
7,875
97,785
18,722
361,821



At 31 July 2022
242,878
10,729
108,909
23,869
386,385


5.


Debtors

2023
2022
£
£


Trade debtors
117,287
127,491

Other debtors
708,910
576,469

Prepayments and accrued income
16,732
14,805

842,929
718,765


Page 5

 
INNES JOHNSTON LLP
 

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

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
19,774
17,355

Other taxation and social security
118,624
90,366

Other creditors
20,090
30,000

Accruals and deferred income
68,343
75,893

226,831
213,614



Secured loans

Included within bank loans are loans of £9,774 (2022: £7,355) which are secured by a bond and floating charge over the assets of the LLP and standard security over certain properties owned by the LLP.


7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
228,372
251,119

Other creditors
-
18,588

228,372
269,707


Secured loans
Included within bank loans are loans of £207,665 (2022: £220,673) which are secured by a bond and floating charge over the assets of the LLP and standard security over certain properties owned by the LLP.


8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
19,774
17,355


Amounts falling due 2-5 years

Bank loans
228,372
251,119


248,146
268,474


Page 6

 
INNES JOHNSTON LLP
 

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

9.


Loans and other debts due to members


2023
2022
£
£



Members' capital treated as debt
(180,000)
(180,000)

Other amounts due to members
(907,079)
(841,032)

(1,087,079)
(1,021,032)

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

2023
2022
£
£



Falling due within one year
1,087,079
1,021,032

1,087,079
1,021,032

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


10.


Commitments under operating leases

At 31 July 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
23,000
23,000

Later than 1 year and not later than 5 years
28,750
51,750

51,750
74,750


Page 7