Caseware UK (AP4) 2022.0.179 2022.0.179 17The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-04-01falseNo description of principal activity17truetrue OC304717 2022-04-01 2023-03-31 OC304717 2021-04-01 2022-03-31 OC304717 2023-03-31 OC304717 2022-03-31 OC304717 c:Buildings 2022-04-01 2023-03-31 OC304717 c:Buildings 2023-03-31 OC304717 c:Buildings 2022-03-31 OC304717 c:Buildings c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC304717 c:Buildings c:ShortLeaseholdAssets 2022-04-01 2023-03-31 OC304717 c:PlantMachinery 2022-04-01 2023-03-31 OC304717 c:MotorVehicles 2022-04-01 2023-03-31 OC304717 c:FurnitureFittings 2022-04-01 2023-03-31 OC304717 c:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 OC304717 c:OtherPropertyPlantEquipment 2023-03-31 OC304717 c:OtherPropertyPlantEquipment 2022-03-31 OC304717 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC304717 c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC304717 c:CurrentFinancialInstruments 2023-03-31 OC304717 c:CurrentFinancialInstruments 2022-03-31 OC304717 c:Non-currentFinancialInstruments 2023-03-31 OC304717 c:Non-currentFinancialInstruments 2022-03-31 OC304717 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC304717 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 OC304717 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 OC304717 c:Non-currentFinancialInstruments c:AfterOneYear 2022-03-31 OC304717 d:FRS102 2022-04-01 2023-03-31 OC304717 d:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 OC304717 d:FullAccounts 2022-04-01 2023-03-31 OC304717 d:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC304717 c:WithinOneYear 2023-03-31 OC304717 c:WithinOneYear 2022-03-31 OC304717 c:BetweenOneFiveYears 2023-03-31 OC304717 c:BetweenOneFiveYears 2022-03-31 OC304717 7 2022-04-01 2023-03-31 OC304717 d:PartnerLLP1 2022-04-01 2023-03-31 OC304717 d:PartnerLLP2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: OC304717










The Woodley Coles LLP








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 March 2023





 
The Woodley Coles LLP
 

Information




Designated Members
S P Coles
C Norris


LLP registered number
OC304717

Registered office
Second floor
168 Shoreditch High Street
London
E1 6RA

Accountants
Kreston Reeves LLP
Chartered Accountants
37 St Margaret's Street
Canterbury
Kent
CT1 2TU


 
The Woodley Coles LLP
 

Contents



Page
Accountants' report
 
1
Balance sheet
 
2 - 3
Reconciliation of members' interests
 
4
Notes to the financial statements
 
5 - 9


 
The Woodley Coles LLP
 
  
Chartered accountants' report to the members on the preparation of the unaudited statutory financial statements of The Woodley Coles LLP for the year ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), we have prepared for your approval the financial statements of The Woodley Coles LLP for the year ended 31 March 2023 which comprise  the Balance sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the members in accordance with the terms of our engagement letter dated 5 September 2023Our work has been undertaken solely to prepare for your approval the financial statements of The Woodley Coles LLP  and state those matters that we have agreed to state to the The Woodley Coles LLP's members in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Woodley Coles LLP and its members for our work or for this report. 

It is your duty to ensure that The Woodley Coles LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Woodley Coles LLP. You consider that The Woodley Coles LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of The Woodley Coles LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
 
Chartered Accountants
  
37 St Margaret's Street
Canterbury
Kent
CT1 2TU
9 November 2023
Page 1

 
The Woodley Coles LLP
Registered number: OC304717

Balance sheet
As at 31 March 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
71,068
70,798

Current assets
  

Debtors: amounts falling due within one year
 5 
421,966
491,845

Cash at bank and in hand
  
262,418
185,754

  
684,384
677,599

Creditors: Amounts Falling Due Within One Year
 6 
(303,511)
(345,900)

Net current assets
  
 
 
380,873
 
 
331,699

Total assets less current liabilities
  
451,941
402,497

Creditors: amounts falling due after more than one year
 7 
(33,558)
-

  

Net assets
  
418,383
402,497


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts

 8 

418,383
402,497

  


Total members' interests
  

Loans and other debts due to members
 8 
418,383
402,497


Page 2

 
The Woodley Coles LLP
Registered number: OC304717

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 profit and loss account 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 9 November 2023.




S P Coles
Designated member

The notes on pages 5 to 9 form part of these financial statements.

The Woodley Coles 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 3

 
The Woodley Coles LLP
 

Reconciliation of members' interests
For the year ended 31 March 2023




Equity
Members' other interests
Debt
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Total

£
£
£

Amounts due to members 

444,814


Balance at 1 April 2021 
-
444,814
444,814

Profit for the year available for automatic division among members
 
591,692
-
591,692

Members' interests after profit for the year
591,692
444,814
1,036,506

Other division of profits
(591,692)
591,692
-

Amounts introduced by members
-
7,513
7,513

Drawings on account and distribution of profit
 
-
(641,523)
(641,523)

Amounts due to members
 

402,497


Balance at 31 March 2022
-
402,497
402,497

Profit for the year available for automatic division among members
 
505,205
-
505,205

Members' interests after profit for the year
505,205
402,497
907,702

Other division of profits
(505,205)
505,205
-

Amounts introduced by members
-
4,080
4,080

Drawings on account and distribution of profit
 
-
(493,399)
(493,399)

Amounts due to members
 

418,383


Balance at 31 March 2023 
-
418,383
418,383

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 4

 
The Woodley Coles LLP
 

 
Notes to the financial statements
For the year ended 31 March 2023

1.


General information

The Woodley Coles LLP is a limited liability partnership incorporated and domiciled in England and Wales.
The LLP's registered office is Second Floor, 168 Shoreditch High Street, London, United Kingdom, E1 6RA.
The financial statements are presented in pound Sterling, and rounded to the nearest pound.

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

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.

 
2.4

Government grants

Grants of a revenue nature are recognised in the Profit and loss account in the same period as the related expenditure.

Page 5

 
The Woodley Coles LLP
 

 
Notes to the financial statements
For the year ended 31 March 2023

2.Accounting policies (continued)

 
2.5

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 discretionarily. Discretionary divisions of profits are recognised as amounts due to members, although may be used to offset amounts which have been drawn by members, which are recognised as loan assets repayable.

 
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 .

Depreciation is provided on the following basis:

Short-term leasehold property
-
over the term of the lease
Plant and machinery
-
25% straight line
Motor vehicles
-
25% straight line
Fixtures and fittings
-
25% 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.

 
2.7

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.

 
2.8

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.

 
2.9

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

Page 6

 
The Woodley Coles LLP
 

 
Notes to the financial statements
For the year ended 31 March 2023

3.


Employees

The average monthly number of employees, including members, during the year was 17 (2022 - 17).


4.


Tangible fixed assets





Land and buildings
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 April 2022
12,662
212,836
225,498


Additions
-
53,424
53,424


Disposals
-
(114,895)
(114,895)



At 31 March 2023

12,662
151,365
164,027



Depreciation


At 1 April 2022
12,662
142,038
154,700


Charge for the year on owned assets
-
29,713
29,713


Disposals
-
(91,455)
(91,455)



At 31 March 2023

12,662
80,296
92,958



Net book value



At 31 March 2023
-
71,069
71,069



At 31 March 2022
-
70,798
70,798

The Net Book Value of assets held under HP for the year was £39,148 (2022: £27,714)

Page 7

 
The Woodley Coles LLP
 

 
Notes to the financial statements
For the year ended 31 March 2023

5.


Debtors

2023
2022
£
£


Trade debtors
386,554
457,544

Other debtors
770
770

Prepayments and accrued income
34,641
33,530

421,965
491,844



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
31,009
52,762

Other taxation and social security
97,341
93,765

Obligations under finance lease and hire purchase contracts
3,137
27,537

Other creditors
149,181
151,181

Accruals and deferred income
22,843
20,655

303,511
345,900



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
33,558
-

33,558
-



8.


Loans and other debts due to members


2023
2022
£
£



Other amounts due to members
(418,383)
(402,497)

(418,383)
(402,497)

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



Page 8

 
The Woodley Coles LLP
 

 
Notes to the financial statements
For the year ended 31 March 2023

9.


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
55,432
26,000

Later than 1 year and not later than 5 years
194,315
82,333

249,747
108,333


10.


Controlling party

The LLP is under control of its designated members.


Page 9