Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseNo description of principal activity44truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC401304 2022-04-01 2023-03-31 OC401304 2021-04-01 2022-03-31 OC401304 2023-03-31 OC401304 2022-03-31 OC401304 c:ComputerEquipment 2022-04-01 2023-03-31 OC401304 c:ComputerEquipment 2023-03-31 OC401304 c:ComputerEquipment 2022-03-31 OC401304 c:ComputerEquipment c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC401304 c:CopyrightsPatentsTrademarksServiceOperatingRights 2023-03-31 OC401304 c:CopyrightsPatentsTrademarksServiceOperatingRights 2022-03-31 OC401304 c:CurrentFinancialInstruments 2023-03-31 OC401304 c:CurrentFinancialInstruments 2022-03-31 OC401304 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC401304 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 OC401304 d:FRS102 2022-04-01 2023-03-31 OC401304 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC401304 d:FullAccounts 2022-04-01 2023-03-31 OC401304 d:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC401304 c:WithinOneYear 2023-03-31 OC401304 c:WithinOneYear 2022-03-31 OC401304 c:BetweenOneFiveYears 2023-03-31 OC401304 c:BetweenOneFiveYears 2022-03-31 OC401304 c:CopyrightsPatentsTrademarksServiceOperatingRights c:ExternallyAcquiredIntangibleAssets 2022-04-01 2023-03-31 OC401304 6 2022-04-01 2023-03-31 OC401304 c:CopyrightsPatentsTrademarksServiceOperatingRights c:OwnedIntangibleAssets 2022-04-01 2023-03-31 OC401304 d:PartnerLLP1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: OC401304










BALANCE LEGAL CAPITAL LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
BALANCE LEGAL CAPITAL LLP
REGISTERED NUMBER: OC401304

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 5 
6,076
3,432

Tangible assets
 6 
8,027
8,249

Investments
 7 
107
40

  
14,210
11,721

Current assets
  

Debtors: amounts falling due within one year
 8 
602,009
264,115

Cash at bank and in hand
  
276,211
449,084

  
878,220
713,199

Creditors: amounts falling due within one year
 9 
(419,562)
(277,361)

Net current assets
  
 
 
458,658
 
 
435,838

Total assets less current liabilities
  
472,868
447,559

  

Net assets
  
472,868
447,559


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 10 
472,868
447,559

  

  
472,868
447,559


Total members' interests
  

Loans and other debts due to members
 10 
472,868
447,559

  
472,868
447,559


Page 1

 
BALANCE LEGAL CAPITAL LLP
REGISTERED NUMBER: OC401304
    
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 by: 




................................................
Mr R Rothkopf
Designated Member

Date: 25 July 2023

The notes on pages 3 to 10 form part of these financial statements.

Balance Legal Capital 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 2

 
BALANCE LEGAL CAPITAL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Balance Legal Capital LLP is a Limited Liability Partnership incorporated in England and Wales in the United Kingdom. The address of the registered office is 25 Southampton Buildings, London, WC2A 1AL.
The Financial Statements are presented in sterling which is the functional currency of the Partnership and rounded to the nearest £1. 

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Partnership's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
BALANCE LEGAL CAPITAL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Partnership 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:

Rendering of services

Revenue 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 revenue can be measured reliably;
it is probable that the Partnership 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.

 
2.4

Pensions

Defined contribution pension plan

The Partnership operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Partnership pays fixed contributions into a separate entity. Once the contributions have been paid the Partnership 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 Partnership in independently administered funds.

 
2.5

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 4

 
BALANCE LEGAL CAPITAL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
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, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33.33% straight line basis

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

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

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.

 
2.9

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.

 
2.10

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 5

 
BALANCE LEGAL CAPITAL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.11

Financial instruments

The Partnership only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. No such impairment has arisen for the year. 


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

No significant judgements have been made by management in preparing these financial statements. 


4.


Employees

The average monthly number of persons (excluding members) employed during the year was as follows:


        2023
        2022
            No.
            No.







Employees
4
4

Page 6

 
BALANCE LEGAL CAPITAL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Intangible assets




Trademarks

£



Cost


At 1 April 2022
4,568


Additions
3,250



At 31 March 2023

7,818



Amortisation


At 1 April 2022
1,136


Charge for the year
606



At 31 March 2023

1,742



Net book value



At 31 March 2023
6,076



At 31 March 2022
3,432



Page 7

 
BALANCE LEGAL CAPITAL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 April 2022
14,451


Additions
5,296



At 31 March 2023

19,747



Depreciation


At 1 April 2022
6,202


Charge for the year
5,518



At 31 March 2023

11,720



Net book value



At 31 March 2023
8,027



At 31 March 2022
8,249


7.


Investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2022
40


Additions
67



At 31 March 2023
107




Page 8

 
BALANCE LEGAL CAPITAL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Debtors

2023
2022
£
£


Trade debtors
191,316
34,272

Other debtors
397,190
223,893

Prepayments and accrued income
13,503
5,950

602,009
264,115



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
148,702
36,434

Other taxation and social security
266,685
238,705

Other creditors
4,068
2,182

Accruals and deferred income
107
40

419,562
277,361



10.


Loans and other debts due to members


2023
2022
£
£



Other amounts due to members
(472,868)
(447,559)

Loans and other debts due to members may be further analysed as follows:

2023
2022
£
£



Falling due within one year
(472,868)
(447,559)

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

Page 9

 
BALANCE LEGAL CAPITAL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

11.


Pension commitments

The Partnership operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity in an independently administered fund. The pension cost charge represents contributions payable by the entity to the fund and amounted to £4,311 (2022: £4,059). The pension cost charge payable at the year end amounted to £1,233 (2022: £719).


12.


Commitments under operating leases

At 31 March 2023 the Partnership had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
109,955
85,125

Later than 1 year and not later than 5 years
105,380
39,875

215,335
125,000

 
Page 10