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REGISTERED NUMBER: OC374767 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

CRANE AND WALTON LLP

CRANE AND WALTON LLP (REGISTERED NUMBER: OC374767)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CRANE AND WALTON LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: Andrew Klimowicz Limited
Matthew Needham Limited
Mrs R M Taylor
Ms P M Crane





REGISTERED OFFICE: 21-25
London Road
Coalville
Leicestershire
LE67 3JB





REGISTERED NUMBER: OC374767 (England and Wales)

CRANE AND WALTON LLP (REGISTERED NUMBER: OC374767)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 74,919 95,416

CURRENT ASSETS
Debtors 5 991,316 925,971
Cash at bank and in hand 172,722 174,504
1,164,038 1,100,475
CREDITORS
Amounts falling due within one year 6 423,776 441,884
NET CURRENT ASSETS 740,262 658,591
TOTAL ASSETS LESS CURRENT
LIABILITIES

815,181

754,007

CREDITORS
Amounts falling due after more than one
year

7

94,383

166,456
NET ASSETS ATTRIBUTABLE TO
MEMBERS

720,798

587,551

CRANE AND WALTON LLP (REGISTERED NUMBER: OC374767)

BALANCE SHEET - continued
31 MARCH 2024

2024 2023
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

11

716,798

583,551

MEMBERS' OTHER INTERESTS
Capital accounts 4,000 4,000
720,798 587,551

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 11 716,798 583,551
Members' other interests 4,000 4,000
720,798 587,551

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 24 July 2024 and were signed by:




Matthew Needham Limited - Designated member




Andrew Klimowicz Limited - Designated member


CRANE AND WALTON LLP (REGISTERED NUMBER: OC374767)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Crane and Walton LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts chargeable to clients for the provision of professional services that have been provided during the year. These amounts include direct recoverable expenses incurred but exclude Value Added Tax. The LLP recognises income, including expenses, at the point where it obtains the right to consideration. The excess of the right to consideration over invoiced amounts is shown within accrued income. Turnover in respect of contingent fee assignments is only recognised when the contingent event occurs.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Fixtures and fittings - 15% reducing bal. and 20% straight line

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over
the period of the lease.

Operating lease incentives - the benefit of the incentive is allocated over the period of the lease.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

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.

Creditors
Short term trade 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.

CRANE AND WALTON LLP (REGISTERED NUMBER: OC374767)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. EMPLOYEE INFORMATION

The average number of employees during the year was 43 (2023 - 42 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and
leasehold fittings Totals
£    £    £   
COST
At 1 April 2023 56,431 292,556 348,987
Additions - 3,775 3,775
At 31 March 2024 56,431 296,331 352,762
DEPRECIATION
At 1 April 2023 28,215 225,356 253,571
Charge for year 5,643 18,629 24,272
At 31 March 2024 33,858 243,985 277,843
NET BOOK VALUE
At 31 March 2024 22,573 52,346 74,919
At 31 March 2023 28,216 67,200 95,416

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 275,679 238,290
Other debtors 715,637 687,681
991,316 925,971

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 250,257 244,779
Trade creditors 44,179 59,000
Taxation and social security 123,879 132,644
Other creditors 5,461 5,461
423,776 441,884

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 8) 94,383 166,456

CRANE AND WALTON LLP (REGISTERED NUMBER: OC374767)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 73,347 71,127
Bank loans - less than 1 yr 176,910 173,652
250,257 244,779

Amounts falling due between one and two years:
Bank loans - 1-2 years 94,383 166,456

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 30,000 23,750
Between one and five years 92,500 96,497
122,500 120,247

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 73,347 71,127
Bank loans 271,293 340,108
344,640 411,235

The bank loan outstanding to Lloyds is secured by a debenture over the assets of the LLP.

11. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up the amounts included with loans and other amounts due to members would rank equally with amounts due to other unsecured creditors.