Registration number:
Stewart & Co Accountants LLP
for the Year Ended 31 March 2023
Stewart & Co Accountants LLP
(Registration number: OC429236)
Balance Sheet as at 31 March 2023
Note |
2023 |
2022 |
|
Fixed assets |
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Intangible assets |
|
- |
|
Tangible assets |
|
|
|
Investments |
|
|
|
|
|
||
Current assets |
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Debtors |
|
|
|
Cash and short-term deposits |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
- |
|
Net assets attributable to members |
|
|
|
Represented by: |
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Loans and other debts due to members |
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Members' capital classified as a liability |
756,560 |
727,900 |
|
756,560 |
727,900 |
||
Total members' interests |
|||
Loans and other debts due to members |
756,560 |
727,900 |
|
756,560 |
727,900 |
For the year ending 31 March 2023 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.
These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.
Stewart & Co Accountants LLP
(Registration number: OC429236)
Balance Sheet as at 31 March 2023 (continued)
The financial statements of Stewart & Co Accountants LLP (registered number OC429236) were approved by the
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Stewart & Co Accountants LLP
Notes to the Financial Statements for the Year Ended 31 March 2023
General information |
Stewart & Co Accountants LLP (LLP number:OC429236) is a limited liability partnership incorporated in England and Wales. Its registered office is Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY.
The financial statements have been prepared under the historical cost convention in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006 and in accordance with the Statement of Recommended Practice ‘Accounting for Limited Liability Partnerships’ issued in December 2018.
The presentation currency of the financial statements is the Pounds Sterling (£).
Exemption from preparing group accounts
The limited liability partnership is part of a small group. The limited liability partnership has taken advantage of the exemption provided by Section 399 (2A) of the Companies Act 2006, as applied to limited liability partnerships, and has not prepared group accounts.
Accounting policies |
Revenue recognition
Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.
Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.
Intangible assets
Intangible assets are stated in the balance sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.
Tangible fixed assets
Individual fixed assets are initially recorded at cost.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Stewart & Co Accountants LLP
Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)
2 |
Accounting policies (continued) |
Asset class |
Depreciation method and rate |
Fixtures and fittings |
25% reducing balance |
Motor vehicles |
25% reducing balance |
Office equipment |
25% reducing balance |
Fixed asset investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Pensions and other post retirement obligations
The partnership operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.
Particulars of employees |
The average number of persons employed by the limited liability partnership during the year was
Stewart & Co Accountants LLP
Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)
Intangible fixed assets |
Goodwill |
Total |
|
Cost |
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Additions |
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At 31 March 2023 |
|
|
Amortisation |
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At 31 March 2023 |
- |
- |
Net book value |
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At 31 March 2023 |
|
|
Tangible fixed assets |
Fixtures and fittings |
Motor vehicles |
Office equipment |
Total |
|
Cost |
||||
At 1 April 2022 |
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|
|
|
Additions |
- |
|
|
|
Disposals |
- |
( |
- |
( |
At 31 March 2023 |
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|
|
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Depreciation |
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At 1 April 2022 |
|
|
|
|
Charge for the year |
|
|
|
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Eliminated on disposals |
- |
( |
- |
( |
At 31 March 2023 |
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|
|
|
Net book value |
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At 31 March 2023 |
|
|
|
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At 31 March 2022 |
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|
|
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Investments held as fixed assets |
2023 |
2022 |
|
Other investments |
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|
Stewart & Co Accountants LLP
Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)
6 |
Investments held as fixed assets (continued) |
Other investments
Shares in subsidiary undertakings |
Total |
|
Cost |
||
At 1 April 2022 |
3 |
3 |
At 31 March 2023 |
3 |
3 |
Net book value |
||
At 31 March 2023 |
3 |
3 |
At 31 March 2022 |
3 |
3 |
Details of undertakings
Details of the investments in which the limited liability partnership holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Country of incorporation |
Holding |
Proportion of voting rights and shares held |
Principal activity |
Subsidiary undertakings |
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|
England & Wales |
Ordinary Shares |
|
Dormant |
|
England & Wales |
Ordinary Share |
|
Dormant |
Stewart & Co Accountants LLP
Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)
Debtors |
2023 |
2022 |
|
Trade debtors |
|
|
Other debtors |
|
|
Prepayments and accrued income |
|
|
Total current trade and other debtors |
968,802 |
894,107 |
Creditors: Amounts falling due within one year |
2023 |
2022 |
|
Trade creditors |
|
|
Other creditors |
|
|
Accruals and deferred income |
|
|
Taxation and social security |
|
|
|
|
Creditors: Amounts falling due after more than one year |
2023 |
|
Other creditors |
|
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £