Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-313No description of principal activity32023-04-01falsetruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC442443 2023-04-01 2024-03-31 OC442443 2022-06-01 2023-03-31 OC442443 2024-03-31 OC442443 2023-03-31 OC442443 c:CurrentFinancialInstruments 2024-03-31 OC442443 c:CurrentFinancialInstruments 2023-03-31 OC442443 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC442443 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC442443 d:FRS102 2023-04-01 2024-03-31 OC442443 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC442443 d:FullAccounts 2023-04-01 2024-03-31 OC442443 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC442443 2 2023-04-01 2024-03-31 OC442443 d:PartnerLLP1 2023-04-01 2024-03-31 OC442443 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC442443 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC442443 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC442443 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC442443 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC442443 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC442443 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: OC442443









MRC ADVISORY LLP

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
MRC ADVISORY LLP
REGISTERED NUMBER: OC442443

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
9,750
7,287

Cash at bank and in hand
 5 
201,618
67,693

  
211,368
74,980

Creditors: Amounts Falling Due Within One Year
 6 
(19,787)
(13,175)

Net current assets
  
 
 
191,581
 
 
61,805

Total assets less current liabilities
  
191,581
61,805

  

Net assets
  
191,581
61,805


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 7 
179,581
9,000

  
179,581
9,000

Members' other interests
  

Members' capital classified as equity
  
12,000
12,000

Other reserves classified as equity
  
-
40,805

  
 
12,000
 
52,805

  
191,581
61,805


Total members' interests
  

Loans and other debts due to members
 7 
179,581
9,000

Members' other interests
  
12,000
52,805

  
191,581
61,805

Page 1

 
MRC ADVISORY LLP
REGISTERED NUMBER: OC442443

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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 profit and loss account 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 5 August 2024.




A N Croft
Designated member

The notes on pages 3 to 5 form part of these financial statements.

MRC Advisory 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

 
MRC ADVISORY LLP
 

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

1.


General information

MRC Advisory LLP is a Limited Liability Partnership incorporated in England within the United Kingdom. The registered number is OC442443 and the address of the registered office is Price Bailey, 24 Old Bond Street, London, W1S 4AP.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

Going concern

The members consider that the resources available to the LLP will be sufficient for it to be able to continue as a going concern. The financial statements do not contain any adjustments that would be required if the company were not able to continue as a going concern. 

 
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

Interest income

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

Page 3

 
MRC ADVISORY LLP
 

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

2.Accounting policies (continued)

 
2.5

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 discretionarily. Discretionary divisions of profits are recognised as amounts due to members, although may be used to offset amounts which have been drawn by members, which are recognised as loan assets repayable.

 
2.6

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.

 
2.7

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. 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.

 
2.8

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.


3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Debtors

2024
2023
£
£


Trade debtors
9,750
5,760

Prepayments and accrued income
-
1,527

9,750
7,287


Page 4

 
MRC ADVISORY LLP
 

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

5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
201,618
67,693

201,618
67,693



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
6,600
-

Other taxation and social security
4,419
8,525

Accruals and deferred income
8,768
4,650

19,787
13,175



7.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
179,581
9,000

179,581
9,000

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

2024
2023
£
£



Falling due within one year
179,581
9,000

179,581
9,000

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


Page 5