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REGISTERED NUMBER: OC374767 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

CRANE AND WALTON LLP

CRANE AND WALTON LLP (REGISTERED NUMBER: OC374767)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 5


CRANE AND WALTON LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DESIGNATED MEMBERS: Andrew Klimowicz Limited
Matthew Needham Limited
Mrs R M Taylor
Ms P M Crane





REGISTERED OFFICE: 21-25
London Road
Coalville
Leicestershire
LE67 3JB





REGISTERED NUMBER: OC374767 (England and Wales)

CRANE AND WALTON LLP (REGISTERED NUMBER: OC374767)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 95,416 121,364

CURRENT ASSETS
Debtors 5 925,971 948,378
Cash at bank and in hand 174,504 273,259
1,100,475 1,221,637
CREDITORS
Amounts falling due within one year 6 441,884 428,592
NET CURRENT ASSETS 658,591 793,045
TOTAL ASSETS LESS CURRENT
LIABILITIES

754,007

914,409

CREDITORS
Amounts falling due after more than one year 7 166,456 238,886
NET ASSETS ATTRIBUTABLE TO
MEMBERS

587,551

675,523

CRANE AND WALTON LLP (REGISTERED NUMBER: OC374767)

BALANCE SHEET - continued
31 MARCH 2023

2023 2022
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

11

583,551

671,523

MEMBERS' OTHER INTERESTS
Capital accounts 4,000 4,000
587,551 675,523

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 11 583,551 671,523
Members' other interests 4,000 4,000
587,551 675,523

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

CRANE AND WALTON LLP (REGISTERED NUMBER: OC374767)

BALANCE SHEET - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 6 September 2023 and were signed by:




Matthew Needham Limited - Designated member




Andrew Klimowicz Limited - Designated member


CRANE AND WALTON LLP (REGISTERED NUMBER: OC374767)

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


1. STATUTORY INFORMATION

Crane and Walton LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts chargeable to clients for the provision of professional services that have been provided during the year. These amounts include direct recoverable expenses incurred but exclude Value Added Tax. The LLP recognises income, including expenses, at the point where it obtains the right to consideration. The excess of the right to consideration over invoiced amounts is shown within accrued income. Turnover in respect of contingent fee assignments is only recognised when the contingent event occurs.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Fixtures and fittings - 15% reducing bal. and 20% straight line

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over
the period of the lease.

Operating lease incentives - the benefit of the incentive is allocated over the period of the lease.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

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.

CRANE AND WALTON LLP (REGISTERED NUMBER: OC374767)

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


2. ACCOUNTING POLICIES - continued

Creditors
Short term trade 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.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 42 (2022 - 52 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and
leasehold fittings Totals
£    £    £   
COST
At 1 April 2022 56,431 289,412 345,843
Additions - 3,144 3,144
At 31 March 2023 56,431 292,556 348,987
DEPRECIATION
At 1 April 2022 22,572 201,907 224,479
Charge for year 5,643 23,449 29,092
At 31 March 2023 28,215 225,356 253,571
NET BOOK VALUE
At 31 March 2023 28,216 67,200 95,416
At 31 March 2022 33,859 87,505 121,364

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 238,290 274,038
Other debtors 687,681 674,340
925,971 948,378

CRANE AND WALTON LLP (REGISTERED NUMBER: OC374767)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 244,779 260,390
Trade creditors 59,000 57,465
Taxation and social security 132,644 104,369
Other creditors 5,461 6,368
441,884 428,592

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 8) 166,456 238,886

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 71,127 83,628
Bank loans - less than 1 yr 173,652 176,762
244,779 260,390

Amounts falling due between one and two years:
Bank loans - 1-2 years 166,456 238,886

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 23,750 23,750
Between one and five years 96,497 95,000
In more than five years - 1,497
120,247 120,247

CRANE AND WALTON LLP (REGISTERED NUMBER: OC374767)

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


10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 71,127 83,628
Bank loans 340,108 415,648
411,235 499,276

The bank loan outstanding to Lloyds is secured by a debenture over the assets of the LLP.

11. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up the amounts included with loans and other amounts due to members would rank equally with amounts due to other unsecured creditors.