Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31trueNo description of principal activity32022-04-01false3trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC363234 2022-04-01 2023-03-31 OC363234 2021-04-01 2022-03-31 OC363234 2023-03-31 OC363234 2022-03-31 OC363234 c:MotorVehicles 2022-04-01 2023-03-31 OC363234 c:OtherPropertyPlantEquipment 2023-03-31 OC363234 c:OtherPropertyPlantEquipment 2022-03-31 OC363234 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC363234 c:CurrentFinancialInstruments 2023-03-31 OC363234 c:CurrentFinancialInstruments 2022-03-31 OC363234 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC363234 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 OC363234 d:FRS102 2022-04-01 2023-03-31 OC363234 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC363234 d:FullAccounts 2022-04-01 2023-03-31 OC363234 d:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC363234 2 2022-04-01 2023-03-31 OC363234 d:PartnerLLP1 2022-04-01 2023-03-31 OC363234 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC363234 c:FurtherSpecificReserve2ComponentTotalEquity 2022-03-31 iso4217:GBP xbrli:pure
Registered number: OC363234









PRIVATE CELLAR RESERVES LLP

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
PRIVATE CELLAR RESERVES LLP
REGISTERED NUMBER: OC363234

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
13,927
17,409

Current assets
  

Debtors: amounts falling due within one year
 5 
155,270
113,811

Cash at bank
  
52,523
100,646

Current liabilities
  
207,793
214,457

Creditors: Amounts Falling Due Within One Year
 6 
(40,180)
(18,322)

Net current assets
  
 
 
167,613
 
 
196,135

  

Net assets
  
181,540
213,544


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 7 
139,211
172,017

Members' other interests
  

Other reserves classified as equity
  
42,329
41,527

  
181,540
213,544


Total members' interests
  

Loans and other debts due to members
 7 
139,211
172,017

Members' other interests
  
42,329
41,527

  
181,540
213,544


Page 1

 
PRIVATE CELLAR RESERVES LLP
REGISTERED NUMBER: OC363234

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 A C R Gordon
Designated member

Date: 30 January 2024

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

Private Cellar Reserves 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

 
PRIVATE CELLAR RESERVES LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


GENERAL INFORMATION

Private Cellar Reserves is a limited liability partnership incorporated in England and Wales, United Kingdom. The address of the registered office is 57 High Street, Wicken, Ely, CB7 5XR. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the LLP's accounting policies.

The following principal accounting policies have been applied:

 
2.2

REVENUE

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.

 
2.3

INTEREST INCOME

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

Page 3

 
PRIVATE CELLAR RESERVES LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

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

 
PRIVATE CELLAR RESERVES LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

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:

Motor vehicles
-
20% reducing balance

 
2.6

DEBTORS

Short term debtors are measured at transaction price.

 
2.7

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. 

 
2.8

CREDITORS

Short term creditors are measured at the transaction price.

 
2.9

FINANCIAL INSTRUMENTS

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

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

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.

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
Page 5

 
PRIVATE CELLAR RESERVES LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (CONTINUED)


2.9
FINANCIAL INSTRUMENTS (continued)

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


3.


EMPLOYEES




The average monthly number of employees, including directors, during the year was 3 (2022 - 3).


4.


TANGIBLE FIXED ASSETS





Other fixed assets

£



Cost


At 1 April 2022
32,001



At 31 March 2023

32,001



Depreciation


At 1 April 2022
14,592


Charge for the year on owned assets
3,482



At 31 March 2023

18,074



Net book value



At 31 March 2023
13,927



At 31 March 2022
17,409

Page 6

 
PRIVATE CELLAR RESERVES LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


DEBTORS

2023
2022
£
£


Other debtors
123,843
89,309

Prepayments
31,427
24,502

155,270
113,811



6.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Trade creditors
38,480
2,941

Other taxation and social security
-
13,131

Accruals
1,700
2,250

40,180
18,322



7.


LOANS AND OTHER DEBTS DUE TO MEMBERS


2023
2022
£
£



Other amounts due to members
139,211
172,017

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

2023
2022
£
£



Falling due within one year
139,211
172,017

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


8.


RELATED PARTY TRANSACTIONS

During the year the Company operated loans with Private Cellar Limited, a Company under common control. The amount owed by Private Cellar Limited at the year end was £108,896 (2022 - £89,309). These loans are interest free and repayable on demand.

Page 7