Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-282022-03-01falseNo description of principal activity46truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC305622 2022-03-01 2023-02-28 OC305622 2021-03-01 2022-02-28 OC305622 2023-02-28 OC305622 2022-02-28 OC305622 c:FurnitureFittings 2022-03-01 2023-02-28 OC305622 c:FurnitureFittings 2023-02-28 OC305622 c:FurnitureFittings 2022-02-28 OC305622 c:FurnitureFittings c:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 OC305622 c:OfficeEquipment 2022-03-01 2023-02-28 OC305622 c:OfficeEquipment 2023-02-28 OC305622 c:OfficeEquipment 2022-02-28 OC305622 c:OfficeEquipment c:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 OC305622 c:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 OC305622 c:CurrentFinancialInstruments 2023-02-28 OC305622 c:CurrentFinancialInstruments 2022-02-28 OC305622 c:CurrentFinancialInstruments c:WithinOneYear 2023-02-28 OC305622 c:CurrentFinancialInstruments c:WithinOneYear 2022-02-28 OC305622 d:FRS102 2022-03-01 2023-02-28 OC305622 d:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 OC305622 d:FullAccounts 2022-03-01 2023-02-28 OC305622 d:LimitedLiabilityPartnershipLLP 2022-03-01 2023-02-28 OC305622 2 2022-03-01 2023-02-28 OC305622 d:PartnerLLP1 2022-03-01 2023-02-28 OC305622 d:PartnerLLP2 2022-03-01 2023-02-28 OC305622 c:FurtherSpecificReserve2ComponentTotalEquity 2023-02-28 OC305622 c:FurtherSpecificReserve2ComponentTotalEquity 2022-02-28 OC305622 c:FurtherSpecificReserve3ComponentTotalEquity 2023-02-28 OC305622 c:FurtherSpecificReserve3ComponentTotalEquity 2022-02-28 iso4217:GBP xbrli:pure
Registered number: OC305622









FOSTER WILSON SIZE LLP

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
FOSTER WILSON SIZE LLP
REGISTERED NUMBER: OC305622

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,605
5,961

  
6,605
5,961

Current assets
  

Stocks
 5 
35,014
42,837

Debtors Within One Year
 6 
116,304
69,776

Cash at bank and in hand
  
21,672
93,305

  
172,990
205,918

Creditors: Amounts Falling Due Within One Year
 7 
(76,350)
(84,123)

Net current assets
  
 
 
96,640
 
 
121,795

Total assets less current liabilities
  
103,245
127,756

  

Net assets
  
103,245
127,756


Represented by:
  

Loans and other debts due to members within one year
  

Members' capital classified as a liability
  
100,000
100,000

Other amounts
 8 
3,265
27,776

  
103,265
127,776

Members' other interests
  

Other reserves classified as equity
  
(20)
(20)

  
 
(20)
 
(20)

  
103,245
127,756


Total members' interests
  

Loans and other debts due to members
 8 
103,265
127,776

Members' other interests
  
(20)
(20)

  
103,245
127,756


Page 1

 
FOSTER WILSON SIZE LLP
REGISTERED NUMBER: OC305622

BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 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 29 November 2023.




E J Wilson
J Size
Designated member
Designated member

Page 2

 
FOSTER WILSON SIZE LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 28 FEBRUARY 2023







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

£
£
£
£
£
£

Profit for the year available for discretionary division among members
 
96,759
96,759
-
-
-
96,759

Members' interests after profit for the year
96,739
96,739
150,000
71,051
221,051
317,790

Other division of profits
(96,759)
(96,759)
-
96,759
96,759
-

Repayment of capital
-
-
(16,544)
-
(16,544)
(16,544)

Conversion of members' capital to debt
-
-
(33,456)
6,136
(27,320)
(27,320)

Drawings on account and distribution of profit
-
-
-
(146,169)
(146,169)
(146,169)

Amounts due to members
100,000
27,776
127,776

Balance at 28 February 2022
(20)
(20)
100,000
27,776
127,776
127,756

Profit for the year available for discretionary division among members
 
77,177
77,177
-
-
-
77,177

Members' interests after profit for the year
77,157
77,157
100,000
27,776
127,776
204,933

Other division of profits
(77,177)
(77,177)
-
77,177
77,177
-

Drawings on account and distribution of profit
-
-
-
(101,688)
(101,688)
(101,688)

Amounts due to members
100,000
3,265
103,265

Balance at 28 February 2023 
(20)
(20)
100,000
3,265
103,265
103,245

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

 
FOSTER WILSON SIZE LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Foster Wilson Size LLP is a limited liability partnership incorporated in England within the United Kingdom. The address of the registered office is Unit 3.4 Hoxton Works, 128 Hoxton Street, London, N1 6SH. The LLP is not part of a group.

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.

Page 4

 
FOSTER WILSON SIZE LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.3

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:

Fixtures and fittings
-
15%
Reducing balance basis
Office equipment
-
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.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately 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.

Page 5

 
FOSTER WILSON SIZE LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.7

Financial instruments

The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102.

Financial instruments are recognised in the LLP's Balance Sheet when the LLP becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The LLP's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the LLP after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the
Page 6

 
FOSTER WILSON SIZE LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.7
Financial instruments (continued)

effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the LLP transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the LLP will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the LLP's contractual obligations expire or are discharged or cancelled.

 
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

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.

 
2.10

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.

 
2.11

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 7

 
FOSTER WILSON SIZE LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.12

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.13

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 6).


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 March 2022
47,671
106,933
154,604


Additions
-
2,543
2,543



At 28 February 2023

47,671
109,476
157,147



Depreciation


At 1 March 2022
44,935
103,708
148,643


Charge for the year on owned assets
410
1,489
1,899



At 28 February 2023

45,345
105,197
150,542



Net book value



At 28 February 2023
2,326
4,279
6,605



At 28 February 2022
2,736
3,225
5,961

Page 8

 
FOSTER WILSON SIZE LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Stocks

2023
2022
£
£

Work in progress
35,014
42,837

35,014
42,837



6.


Debtors

2023
2022
£
£


Trade debtors
109,433
53,470

Other debtors
-
8,250

Prepayments and accrued income
6,871
8,056

116,304
69,776



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
18,823
22,361

Other taxation and social security
27,223
16,627

Other creditors
11,416
27,993

Accruals and deferred income
18,888
17,142

76,350
84,123


Page 9

 
FOSTER WILSON SIZE LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

8.


Loans and other debts due to members


2023
2022
£
£



Members' capital treated as debt
(100,000)
(100,000)

Other amounts due to members
(3,265)
(27,776)

(103,265)
(127,776)

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

2023
2022
£
£



Falling due within one year
(103,265)
(127,776)

(103,265)
(127,776)

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


9.


Financial commitments

The total amounts of financial commitments are £8,750 (2022 - £10,450).


Page 10