Caseware UK (AP4) 2022.0.179 2022.0.179 trueNo description of principal activity2022-04-01false23trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC305196 2022-04-01 2023-03-31 OC305196 2021-04-01 2022-03-31 OC305196 2023-03-31 OC305196 2022-03-31 OC305196 c:CurrentFinancialInstruments 2023-03-31 OC305196 c:CurrentFinancialInstruments 2022-03-31 OC305196 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC305196 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 OC305196 d:FRS102 2022-04-01 2023-03-31 OC305196 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC305196 d:FullAccounts 2022-04-01 2023-03-31 OC305196 d:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC305196 d:PartnerLLP1 2022-04-01 2023-03-31 OC305196 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC305196 c:FurtherSpecificReserve2ComponentTotalEquity 2022-03-31 iso4217:GBP xbrli:pure

Registered number: OC305196










Mintz Levin Cohn Ferris Glovsky and Popeo LLP








Unaudited

Financial statements

For the Year Ended 31 March 2023

 
Mintz Levin Cohn Ferris Glovsky and Popeo LLP
 

Members' responsibilities statement
For the Year Ended 31 March 2023

The Members are responsible for preparing the annual report and thefinancial statements in accordance with applicable law and regulations.

Company law, (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), requires the Members to prepare financial statements for each financial year. Under that law the Members have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law, as applied to LLPs, the Members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period.

 In preparing these financial statements, the Members are required to:

select suitable accounting policies for the LLP's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;


prepare the financial statements on the going concern basis unless it is inappropriate to presume that the entity will continue in business.

The Members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and to enable them to ensure that the financial statements comply with the Limited Liability Partnerships (Accounts and Audit) (Application of the Companies Act 2006) Regulations 2008They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 1

 
Mintz Levin Cohn Ferris Glovsky and Popeo LLP
Registered number: OC305196

Balance sheet
As at 31 March 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
113,649
308,541

Cash at bank and in hand
  
35,484
19,890

  
149,133
328,431

Creditors: Amounts Falling Due Within One Year
 5 
(5,625,629)
(5,896,256)

Net current liabilities
  
 
 
(5,476,496)
 
 
(5,567,825)

  

Net liabilities
  
(5,476,496)
(5,567,825)


Represented by:
  

Loans and other debts due to members within one year
  

Members' other interests
  

Total
  
(5,476,496)
(5,567,825)

  
 
(5,476,496)
 
(5,567,825)

  
(5,476,496)
(5,567,825)


Total members' interests
  

Members' other interests
  
(5,476,496)
(5,567,825)

  
(5,476,496)
(5,567,825)


Page 2

 
Mintz Levin Cohn Ferris Glovsky and Popeo LLP
Registered number: OC305196

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 14 November 2023.



Michael Fantozzi
Designated Member

The notes on pages 5 to 7 form part of these financial statements.

Mintz Levin Cohn Ferris Glovsky and Popeo 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

 
Mintz Levin Cohn Ferris Glovsky and Popeo LLP
 

Reconciliation of Members' interests
For the Year Ended 31 March 2023




EQUITY
Members' other interests
Other reserves
Total

£
£

Balance at 1 April 2021 
(5,701,093)
(5,701,093)

Profit for the year available for discretionary division among members
 
133,268
133,268

Members' interests after profit for the year
 
(5,567,825)
(5,567,825)

Balance at 31 March 2022
(5,567,825)
(5,567,825)

Profit for the year available for discretionary division among members
 
91,329
91,329

Members' interests after profit for the year
 
(5,476,496)
(5,476,496)

Balance at 31 March 2023 
(5,476,496)
(5,476,496)

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

 
Mintz Levin Cohn Ferris Glovsky and Popeo LLP
 

 
Notes to the financial statements
For the Year Ended 31 March 2023

1.


General information

Mintz Levin Cohn Ferris Glovsky and Popeo LLP (the LLP) is a limited liability partnership incorporated and domiciled in England & Wales. The address of its registered office is 2nd Floor, 168 Shoreditch High Street, London, E1 6RA. The principal activitiy of the LLP continued to be that of the provision of legal services.

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

Going concern

The accounts have been prepared on a going concern basis despite the LLP reporting net liabilities of £5,476,496 (2022: £5,567,825) at 31 March 2023. The LLP is reliant upon the continuing financial support of Mintz Levin Cohn Ferris Glovsky and Popeo PC as disclosed in note 7 to these accounts.
 

 
2.3

Revenue

Turnover comprises revenue recognised by the LLP in respect of legal services supplied during the year, exclusive of Value Added Tax and trade discounts.

 
2.4

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.

 
2.5

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.

 
2.6

Financial instruments

The LLP only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

 
2.7

Creditors

Short term creditors are measured at the transaction price.

Page 5

 
Mintz Levin Cohn Ferris Glovsky and Popeo LLP
 

 
Notes to the financial statements
For the Year Ended 31 March 2023

2.Accounting policies (continued)

 
2.8

Foreign currency translation

Functional and presentation currency

The LLP's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
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

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.

Page 6

 
Mintz Levin Cohn Ferris Glovsky and Popeo 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 2 (2022 - 3).


4.


Debtors

2023
2022
£
£


Trade debtors
-
70,199

Other debtors
105,157
99,577

Prepayments and accrued income
8,492
138,765

113,649
308,541



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
8,460
5,088

Amounts owed to group undertakings
5,607,169
5,881,168

Accruals and deferred income
10,000
10,000

5,625,629
5,896,256



6.


Pension commitments

The LLP operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the LLP in an independently administered fund. The pension cost charge represents contributions payable by the LLP to the fund and amounted to £3,667 (2022: £4,000). There were no contributions outstanding at the year end (2022: £Nil).


7.


Related party transactions

The Members of the LLP are also Members of Mintz Levin Cohn Ferris Glovsky and Popeo PC (MLPC) that is registered in the United States of America. MLPC provides financial support to Mintz Levin Cohn Ferris Glovsky and Popeo LLP (MLLLP).
During the period MLLLP made net payments of £273,999 to MLPC (2022: £31,227). At the year end the amount outstanding was £5,607,169 (2022: £5,881,168) and is included within creditors as 'Amounts owed to group undertakings'. No interest was charged on this loan.


8.


Controlling party

The LLP is under the control of its designated members.


Page 7