Caseware UK (AP4) 2023.0.135 2023.0.135 truefalse2022-01-01No description of principal activity69true OC419743 2022-01-01 2022-12-31 OC419743 2021-04-06 2021-12-31 OC419743 2022-12-31 OC419743 2021-12-31 OC419743 c:ComputerEquipment 2022-01-01 2022-12-31 OC419743 c:ComputerEquipment 2022-12-31 OC419743 c:ComputerEquipment 2021-12-31 OC419743 c:ComputerEquipment c:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 OC419743 c:CurrentFinancialInstruments 2022-12-31 OC419743 c:CurrentFinancialInstruments 2021-12-31 OC419743 c:CurrentFinancialInstruments 2 2022-12-31 OC419743 c:CurrentFinancialInstruments 2 2021-12-31 OC419743 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 OC419743 c:CurrentFinancialInstruments c:WithinOneYear 2021-12-31 OC419743 e:FRS102 2022-01-01 2022-12-31 OC419743 e:Audited 2022-01-01 2022-12-31 OC419743 e:FullAccounts 2022-01-01 2022-12-31 OC419743 e:LimitedLiabilityPartnershipLLP 2022-01-01 2022-12-31 OC419743 c:WithinOneYear 2022-12-31 OC419743 c:WithinOneYear 2021-12-31 OC419743 c:BetweenOneFiveYears 2022-12-31 OC419743 c:BetweenOneFiveYears 2021-12-31 OC419743 e:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 OC419743 e:PartnerLLP1 2022-01-01 2022-12-31 OC419743 c:FurtherSpecificReserve2ComponentTotalEquity 2022-12-31 OC419743 c:FurtherSpecificReserve2ComponentTotalEquity 2021-12-31 iso4217:GBP xbrli:pure


















The Transcription Agency LLP
























Financial statements



For the year ended 31 December 2022



Registered number: OC419743

 
The Transcription Agency LLP - Registered number: OC419743

Statement of financial position
As at 31 December 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
7,297
10,425

  
7,297
10,425

Current assets
  

Debtors: amounts falling due within one year
 5 
275,712
46,547

Cash at bank and in hand
  
69,879
53,791

  
345,591
100,338

Creditors: amounts falling due within one year
 6 
(250,790)
(131,956)

Net current assets/(liabilities)
  
 
 
94,801
 
 
(31,618)

Total assets less current liabilities
  
102,098
(21,193)

  

Net assets/(liabilities) attributable to members
  
102,098
(21,193)


Represented by:
  

Loans and other debts due to members within one year
  

Members' other interests
  

Other reserves classified as equity
  
102,098
(21,193)

  
 
102,098
 
(21,193)

  
102,098
(21,193)


Total members' interests
  

Amounts due from members (included in debtors)
 5 
(15,631)
-

Members' other interests
  
102,098
(21,193)

  
86,467
(21,193)


Page 1

 
The Transcription Agency LLP - Registered number: OC419743

Statement of financial position (continued)
As at 31 December 2022

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

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 7 February 2024.




A Edwards on behalf of VIQ Solutions (UK) Limited
Designated member

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
The Transcription Agency LLP

 
Notes to the financial statements
For the year ended 31 December 2022

1.


General information

The Transcription Agency LLP is a limited liability partnership incorporated in England & Wales. The registered address and principal place of business is 24-28 High Street, Oak House, Hythe, United Kingdom, CT21 5AT and the registered number is OC419743.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and 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 LLP continues to consider future plans, information available, including the availability of working capital, group structure and which entity is best placed to provide the contracted services. 
The members have concluded that while the LLP is profit making, within the group headed by the parent company, there is significant uncertainty in relation to going concern. Should the wider group require more support, or the group's losses result in an inability to continue trading, this would directly impact the LLP and its ability to continue trading. The financial statements do not include any adjustment to the LLP's assets or liabilities that might be necessary should the going concern basis not continue to be appropriate. In reaching this assumption the members have considered a period of not less than one year from the date of approval of the financial statements.

 
2.3

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.

 
2.4

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.

Page 3

 
The Transcription Agency LLP

Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

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
-
15%

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.

 
2.5

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

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.

 
2.7

Financial instruments

The LLP only enters into basic financial instrument 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, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2021 - 9).
The average number of members in the period was 2 (April 2021 - 5).

Page 4

 
The Transcription Agency LLP

 
Notes to the financial statements
For the year ended 31 December 2022

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2022
13,588


Disposals
(1,323)



At 31 December 2022

12,265



Depreciation


At 1 January 2022
3,163


Charge for the year
3,128


Disposals
(1,323)



At 31 December 2022

4,968



Net book value



At 31 December 2022
7,297



At 31 December 2021
10,425

Page 5

 
The Transcription Agency LLP

 
Notes to the financial statements
For the year ended 31 December 2022

5.


Debtors

2022
2021
£
£


Trade debtors
40,173
39,144

Amounts owed by group undertakings
200,000
-

Other debtors
19,908
7,403

Amounts due from members
15,631
-

275,712
46,547



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
20,220
-

Amounts owed to group undertakings
67,127
7,002

Other taxation and social security
39,255
38,072

Accruals and deferred income
124,188
86,882

250,790
131,956



7.


Commitments under operating leases

At 31 December 2022 the LLP had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2022
2021
£
£


Not later than 1 year
25,000
16,200

Later than 1 year and not later than 5 years
18,750
-

43,750
16,200


8.


Inclusion in group financial statements

The smallest group which prepares consolidated financial statements including The Transcription Agency LLP is VIQ Solutions, Inc. The registered office address is 5915 Airport Road, Suite 700 Mississauga, Ontatio, Canada, L4V 1T1.

Page 6

 
The Transcription Agency LLP

 
Notes to the financial statements
For the year ended 31 December 2022

9.


Auditor's information

The auditor's report on the financial statements for the year from 6 April 2021 to ended 31 December 2022 was unqualified.

In their report, the auditor emphasised the following matter without qualifying their report:
We draw attention to note 2.2 in the financial statements, which indicates that group support may not be forthcoming if required. As stated in note 2.2, these events or conditions, along with the other matters as set forth in note 2.2, indicate that a material uncertainty exists that may cast significant doubt on the LLP's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

The audit report was signed on 7 February 2024 by Jonathan West (Senior statutory auditor) on behalf of Buzzacott LLP.

Page 7