Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31No description of principal activity2022-04-01false2620falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC395491 2022-04-01 2023-03-31 OC395491 2021-07-01 2022-03-31 OC395491 2023-03-31 OC395491 2022-03-31 OC395491 c:Buildings c:ShortLeaseholdAssets 2022-04-01 2023-03-31 OC395491 c:Buildings c:ShortLeaseholdAssets 2023-03-31 OC395491 c:Buildings c:ShortLeaseholdAssets 2022-03-31 OC395491 c:LandBuildings 2023-03-31 OC395491 c:LandBuildings 2022-03-31 OC395491 c:FurnitureFittings 2022-04-01 2023-03-31 OC395491 c:FurnitureFittings 2023-03-31 OC395491 c:FurnitureFittings 2022-03-31 OC395491 c:FurnitureFittings c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC395491 c:ComputerEquipment 2022-04-01 2023-03-31 OC395491 c:ComputerEquipment 2023-03-31 OC395491 c:ComputerEquipment 2022-03-31 OC395491 c:ComputerEquipment c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC395491 c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC395491 c:Goodwill 2022-04-01 2023-03-31 OC395491 c:Goodwill 2023-03-31 OC395491 c:Goodwill 2022-03-31 OC395491 c:CurrentFinancialInstruments 2023-03-31 OC395491 c:CurrentFinancialInstruments 2022-03-31 OC395491 c:Non-currentFinancialInstruments 2023-03-31 OC395491 c:Non-currentFinancialInstruments 2022-03-31 OC395491 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC395491 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 OC395491 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 OC395491 c:Non-currentFinancialInstruments c:AfterOneYear 2022-03-31 OC395491 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-03-31 OC395491 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2022-03-31 OC395491 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-03-31 OC395491 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2022-03-31 OC395491 d:FRS102 2022-04-01 2023-03-31 OC395491 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC395491 d:FullAccounts 2022-04-01 2023-03-31 OC395491 d:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC395491 c:WithinOneYear 2023-03-31 OC395491 c:WithinOneYear 2022-03-31 OC395491 c:BetweenOneFiveYears 2023-03-31 OC395491 c:BetweenOneFiveYears 2022-03-31 OC395491 c:MoreThanFiveYears 2023-03-31 OC395491 c:MoreThanFiveYears 2022-03-31 OC395491 c:Goodwill c:OwnedIntangibleAssets 2022-04-01 2023-03-31 OC395491 d:PartnerLLP1 2022-04-01 2023-03-31 OC395491 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC395491 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-03-31 iso4217:GBP xbrli:pure
Registered number: OC395491














COUNTY CLOTHES LLP
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2023

 
COUNTY CLOTHES LLP
REGISTERED NUMBER: OC395491

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
                                                                     Note

Fixed assets
  

Intangible assets
 4 
11,250
18,750

Tangible assets
 5 
74,410
14,513

  
85,660
33,263

Current assets
  

Stocks
  
1,493,423
1,141,752

Debtors: amounts falling due within one year
 6 
46,148
25,433

Cash at bank and in hand
 7 
173,498
262,995

  
1,713,069
1,430,180

Creditors: Amounts Falling Due Within One Year
 8 
(495,424)
(168,760)

Net current assets
  
 
 
1,217,645
 
 
1,261,420

Total assets less current liabilities
  
1,303,305
1,294,683

Creditors: amounts falling due after more than one year
 9 
(21,667)
(31,667)

  
1,281,638
1,263,016

  

Net assets
  
£1,281,638
£1,263,016


Represented by:
  

Loans and other debts due to members within one year
  

Members' other interests
  

Members' capital classified as equity
  
1,281,638
1,263,016

  
 
1,281,638
 
1,263,016

  
£1,281,638
£1,263,016


Total members' interests
  

Members' other interests
  
1,281,638
1,263,016

  
£1,281,638
£1,263,016


Page 1

 
COUNTY CLOTHES LLP
REGISTERED NUMBER: OC395491

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 31 October 2023.




___________________________
J P R Lambert
Designated member

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
COUNTY CLOTHES LLP
 

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

1.


General information

County Clothes LLP is a Limited Liability Partnership incorporated in England and Wales. 
The registered office of the LLP is Henwood House, Henwood, Ashford, Kent, TN24 8DH. The principal place of business is 19 St. Margarets Street, Canterbury, Kent, CT1 2TH.

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the LLP has transferred the significant risks and rewards of ownership to the buyer;
the LLP retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 3

 
COUNTY CLOTHES LLP
 

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

2.Accounting policies (continued)

 
2.4

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.

Depreciation is provided on the following basis:

Short-term leasehold property
-
over the period of the lease
Fixtures and fittings
-
20% straight line basis
Computer equipment
-
20% straight line basis

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

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.

 
2.7

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.

 
2.8

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.

Page 4

 
COUNTY CLOTHES LLP
 

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

2.Accounting policies (continued)

 
2.9

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 .

 
2.10

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.

 
2.11

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.

 
2.12

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 Balance sheet. The assets of the plan are held separately from the LLP in independently administered funds.

 
2.13

Borrowing costs

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


3.


Employees

The average monthly number of employees during the year was 26 (2022 - 20).

Page 5

 
COUNTY CLOTHES LLP
 

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

4.


Intangible assets




Goodwill



Cost


At 1 April 2022
75,000



At 31 March 2023

75,000



Amortisation


At 1 April 2022
56,250


Charge for the year on owned assets
7,500



At 31 March 2023

63,750



Net book value



At 31 March 2023
£11,250



At 31 March 2022
£18,750



Page 6

 
COUNTY CLOTHES LLP
 

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

5.


Tangible fixed assets





Short-term leasehold property
Fixtures and fittings
Computer equipment
Total



Cost or valuation


At 1 April 2022
14,924
20,123
13,782
48,829


Additions
10,423
49,421
7,817
67,661



At 31 March 2023

25,347
69,544
21,599
116,490



Depreciation


At 1 April 2022
3,813
17,393
13,110
34,316


Charge for the year on owned assets
1,041
5,832
891
7,764



At 31 March 2023

4,854
23,225
14,001
42,080



Net book value



At 31 March 2023
£20,493
£46,319
£7,598
£74,410



At 31 March 2022
£11,111
£2,730
£672
£14,513




The net book value of land and buildings may be further analysed as follows:


2023
2022

Short leasehold
20,493
11,111

£20,493
£11,111



6.


Debtors

2023
2022


Other debtors
32,332
7,650

Prepayments and accrued income
13,816
17,783

£46,148
£25,433


Page 7

 
COUNTY CLOTHES LLP
 

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

7.


Cash and cash equivalents

2023
2022

Cash at bank and in hand
173,498
262,995

£173,498
£262,995



8.


Creditors: Amounts falling due within one year

2023
2022

Bank loans
10,000
10,000

Trade creditors
394,977
68,900

Other taxation and social security
15,919
30,492

Other creditors
5,527
1,199

Accruals and deferred income
69,001
58,169

£495,424
£168,760



9.


Creditors: Amounts falling due after more than one year

2023
2022

Bank loans
21,667
31,667

£21,667
£31,667



10.


Loans


Analysis of the maturity of loans is given below:


2023
2022

Amounts falling due within one year

Bank loans
10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000

Amounts falling due 2-5 years

Bank loans
11,667
21,667


£31,667
£41,667


Page 8

 
COUNTY CLOTHES LLP
 

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

11.


Pension commitments

The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity in an independently administered fund. Contributions totalling £3,080 (2022: £1,199) 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
182,000
119,500

Later than 1 year and not later than 5 years
688,000
425,500

Later than 5 years
1,028,042
903,375

£1,898,042
£1,448,375


13.
Controlling party

The parent undertaking is Town & Country Investments Limited, a company incorporated in England and Wales. 
Mr R S Midlane is the controlling party of the company, by virtue of his shareholding in Town & Country Investments Limited.


Page 9