Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-052023-04-052022-04-0600falseNo description of principal activityfalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC400364 2022-04-06 2023-04-05 OC400364 2021-04-06 2022-04-05 OC400364 2023-04-05 OC400364 2022-04-05 OC400364 c:FreeholdInvestmentProperty 2023-04-05 OC400364 c:FreeholdInvestmentProperty 2022-04-05 OC400364 c:CurrentFinancialInstruments 2023-04-05 OC400364 c:CurrentFinancialInstruments 2022-04-05 OC400364 c:CurrentFinancialInstruments c:WithinOneYear 2023-04-05 OC400364 c:CurrentFinancialInstruments c:WithinOneYear 2022-04-05 OC400364 d:FRS102 2022-04-06 2023-04-05 OC400364 d:AuditExempt-NoAccountantsReport 2022-04-06 2023-04-05 OC400364 d:FullAccounts 2022-04-06 2023-04-05 OC400364 d:LimitedLiabilityPartnershipLLP 2022-04-06 2023-04-05 OC400364 d:PartnerLLP2 2022-04-06 2023-04-05 OC400364 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-04-05 OC400364 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-04-05 OC400364 c:FurtherSpecificReserve2ComponentTotalEquity 2023-04-05 OC400364 c:FurtherSpecificReserve2ComponentTotalEquity 2022-04-05 OC400364 c:FurtherSpecificReserve3ComponentTotalEquity 2023-04-05 OC400364 c:FurtherSpecificReserve3ComponentTotalEquity 2022-04-05 iso4217:GBP xbrli:pure

Registered number: OC400364









MIDHURST RUSSELL LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 5 APRIL 2023

 
MIDHURST RUSSELL LLP
REGISTERED NUMBER: OC400364

BALANCE SHEET
AS AT 5 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
500,000
500,000

  
500,000
500,000

Current assets
  

Debtors: amounts falling due within one year
 5 
575
725

Cash at bank and in hand
 6 
18,789
18,278

  
19,364
19,003

Creditors: Amounts Falling Due Within One Year
 7 
(26,868)
(27,988)

Net current liabilities
  
 
 
(7,504)
 
 
(8,985)

Total assets less current liabilities
  
492,496
491,015

  

Net assets
  
492,496
491,015


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 8 
(128,552)
(95,949)

  
(128,552)
(95,949)

Members' other interests
  

Members' capital classified as equity
  
346,005
346,005

Other reserves classified as equity
  
275,043
240,959

  
 
621,048
 
586,964

  
492,496
491,015


Total members' interests
  

Loans and other debts due to members
 8 
(128,552)
(95,949)

Members' other interests
  
621,048
586,964

  
492,496
491,015


Page 1

 
MIDHURST RUSSELL LLP
REGISTERED NUMBER: OC400364
    
BALANCE SHEET (CONTINUED)
AS AT 5 APRIL 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: 




J Maskell
Designated member

Date:26 November 2023

The notes on pages 4 to 7 form part of these financial statements.

Midhurst Russell 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

 
MIDHURST RUSSELL LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE PERIOD ENDED 5 APRIL 2023






EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Other reserves
Total
Other amounts
Total

£
£
£
£
£

Amounts due to members 
(55,139)


Balance at 1 April 2021 
346,005
144,277
490,282
(55,139)
435,143

Profit for the year available for discretionary division among members
 
-
96,682
96,682
-
96,682

Members' interests after profit for the year
346,005
240,959
586,964
(55,139)
531,825

Amounts introduced by members
-
-
-
1,426
1,426

Drawings on account and distribution of profit
-
-
-
(42,235)
(42,235)

Amounts due to members
(95,949)

Balance at 5 April 2022
346,005
240,959
586,964
(55,139)
531,825

Profit for the year available for discretionary division among members
 
-
34,084
34,084
-
34,084

Members' interests after profit for the year
346,005
275,043
621,048
(55,139)
565,909

Amounts introduced by members
-
-
-
1,426
1,426

Drawings on account and distribution of profit
-
-
-
(74,839)
(74,839)

Amounts due to members
(128,552)

Balance at 5 April 2023 
346,005
275,043
621,048
(128,552)
492,496

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 3

 
MIDHURST RUSSELL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 5 APRIL 2023

1.


General information

Midhurst Russell LLP is a partnership incorporated in the United Kingdom. The partnership is registered in England and Wales. The address of the registered office is: 1 The Green, Richmond, United Kingdom, TW9 1PL.

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:

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 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

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.

Page 4

 
MIDHURST RUSSELL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 5 APRIL 2023

2.Accounting policies (continued)

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.5

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.

 
2.6

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.

 
2.7

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.


3.


Employees

The entity has no employees.


4.


Investment property


Freehold investment property

£



Valuation


At 6 April 2022
500,000



At 5 April 2023
500,000

The 2023 valuations were made by the members, on an open market value for existing use basis.





5.


Debtors

2023
2022
Page 5

 
MIDHURST RUSSELL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 5 APRIL 2023

5.Debtors (continued)

£
£


Trade debtors
575
725

575
725



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
18,789
18,280

18,789
18,280



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
7,138
8,258

Accruals and deferred income
19,730
19,730

26,868
27,988


Page 6

 
MIDHURST RUSSELL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 5 APRIL 2023

8.


Loans and other debts due to members


2023
2022
£
£



Other amounts due to members
128,552
95,949

128,552
95,949

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

2023
2022
£
£


Falling due within one year
(128,552)
(95,949)

(128,552)
(95,949)

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

 
Page 7