Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31falseFire protectionThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true422023-01-0141true OC384483 2023-01-01 2023-12-31 OC384483 2022-01-01 2022-12-31 OC384483 2023-12-31 OC384483 2022-12-31 OC384483 c:Buildings 2023-01-01 2023-12-31 OC384483 c:Buildings 2023-12-31 OC384483 c:Buildings 2022-12-31 OC384483 c:Buildings c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 OC384483 c:Buildings c:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 OC384483 c:LandBuildings 2023-12-31 OC384483 c:LandBuildings 2022-12-31 OC384483 c:PlantMachinery 2023-01-01 2023-12-31 OC384483 c:PlantMachinery 2023-12-31 OC384483 c:PlantMachinery 2022-12-31 OC384483 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 OC384483 c:PlantMachinery c:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 OC384483 c:MotorVehicles 2023-01-01 2023-12-31 OC384483 c:MotorVehicles 2023-12-31 OC384483 c:MotorVehicles 2022-12-31 OC384483 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 OC384483 c:MotorVehicles c:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 OC384483 c:FurnitureFittings 2023-01-01 2023-12-31 OC384483 c:FurnitureFittings 2023-12-31 OC384483 c:FurnitureFittings 2022-12-31 OC384483 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 OC384483 c:FurnitureFittings c:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 OC384483 c:OfficeEquipment 2023-01-01 2023-12-31 OC384483 c:OfficeEquipment 2023-12-31 OC384483 c:OfficeEquipment 2022-12-31 OC384483 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 OC384483 c:OfficeEquipment c:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 OC384483 c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 OC384483 c:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 OC384483 c:Goodwill 2023-12-31 OC384483 c:Goodwill 2022-12-31 OC384483 c:CurrentFinancialInstruments 2023-12-31 OC384483 c:CurrentFinancialInstruments 2022-12-31 OC384483 c:Non-currentFinancialInstruments 2023-12-31 OC384483 c:Non-currentFinancialInstruments 2022-12-31 OC384483 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 OC384483 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 OC384483 d:FRS102 2023-01-01 2023-12-31 OC384483 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 OC384483 d:FullAccounts 2023-01-01 2023-12-31 OC384483 d:LimitedLiabilityPartnershipLLP 2023-01-01 2023-12-31 OC384483 2 2023-01-01 2023-12-31 OC384483 d:PartnerLLP1 2023-01-01 2023-12-31 OC384483 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-12-31 OC384483 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-12-31 OC384483 c:FurtherSpecificReserve2ComponentTotalEquity 2023-12-31 OC384483 c:FurtherSpecificReserve2ComponentTotalEquity 2022-12-31 OC384483 c:FurtherSpecificReserve3ComponentTotalEquity 2023-12-31 OC384483 c:FurtherSpecificReserve3ComponentTotalEquity 2022-12-31 iso4217:GBP xbrli:pure

Registered number: OC384483










AVANSYS LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
AVANSYS LLP
REGISTERED NUMBER: OC384483

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
400,078
548,114

  
400,078
548,114

Current assets
  

Stocks
  
471,725
619,507

Debtors: amounts falling due after more than one year
 6 
58,333
-

Debtors: amounts falling due within one year
 6 
3,633,120
3,435,980

Cash at bank and in hand
 7 
1,885,396
716,551

  
6,048,574
4,772,038

Creditors: Amounts Falling Due Within One Year
 8 
(825,984)
(767,974)

Net current assets
  
 
 
5,222,590
 
 
4,004,064

Total assets less current liabilities
  
5,622,668
4,552,178

  

Net assets
  
5,622,668
4,552,178


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 9 
2,066,417
1,806,164

  
2,066,417
1,806,164

Members' other interests
  

Members' capital classified as equity
  
1,500,000
1,500,000

Other reserves classified as equity
  
2,056,251
1,246,014

  
 
3,556,251
 
2,746,014

  
5,622,668
4,552,178


Total members' interests
  

Loans and other debts due to members
 9 
2,066,417
1,806,164

Members' other interests
  
3,556,251
2,746,014

  
5,622,668
4,552,178


Page 1

 
AVANSYS LLP
REGISTERED NUMBER: OC384483
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 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 by: 




................................................
Fixfire Limited
Designated member

Date: 13 August 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
AVANSYS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Avansys LLP, OC384483, is a limited liability partnership, incorporated in England and Wales, with a regsitered office address and principal place of business at Mayflower House, Bodmin Road, Coventry, CV2 5DB.

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

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the LLP has transferred the significant risks and rewards of ownership to the buyer;
the LLP retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

 
2.3

Interest income

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

Page 3

 
AVANSYS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

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.

 
2.6

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.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

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 4

 
AVANSYS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
not depreciated
Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
25%
reducing balance
Office equipment
-
25%
reducing balance

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

Page 5

 
AVANSYS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.13

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 42 (2022 - 41).


4.


Intangible assets




Goodwill

£



Cost


At 1 January 2023
221,500



At 31 December 2023

221,500



Amortisation


At 1 January 2023
221,500



At 31 December 2023

221,500



Net book value



At 31 December 2023
-



At 31 December 2022
-



Page 6

 
AVANSYS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2023
196,245
39,760
634,903
35,895
151,173
1,057,976


Additions
-
10,141
162,257
562
10,830
183,790


Disposals
(196,245)
-
(22,185)
-
-
(218,430)



At 31 December 2023

-
49,901
774,975
36,457
162,003
1,023,336



Depreciation


At 1 January 2023
-
25,586
334,234
30,799
119,243
509,862


Charge for the year on owned assets
-
6,079
37,372
1,415
10,690
55,556


Charge for the year on financed assets
-
-
77,804
-
-
77,804


Disposals
-
-
(19,964)
-
-
(19,964)



At 31 December 2023

-
31,665
429,446
32,214
129,933
623,258



Net book value



At 31 December 2023
-
18,236
345,529
4,243
32,070
400,078



At 31 December 2022
196,245
14,174
300,669
5,096
31,930
548,114




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Freehold
-
196,245

-
196,245


Page 7

 
AVANSYS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
58,333
-

58,333
-


2023
2022
£
£

Due within one year

Trade debtors
2,091,523
1,602,357

Other debtors
1,496,766
1,833,623

Prepayments and accrued income
44,832
-

3,633,121
3,435,980



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,885,396
716,551

1,885,396
716,551



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
50,000
50,000

Trade creditors
108,213
167,997

Other taxation and social security
455,550
364,853

Accruals and deferred income
212,221
185,124

825,984
767,974


Page 8

 
AVANSYS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Loans and other debts due to members


2023
2022
£
£



Other amounts due to members
2,066,417
1,806,164

2,066,417
1,806,164

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

2023
2022
£
£



Falling due within one year
2,066,417
1,806,164

2,066,417
1,806,164

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


10.


Pension commitments

The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity in an independently administered fund. The pension cost charge represents contributions payable by the entity to the fund and amounted to £47,743 (2022 - £22,148). Contributions totalling £8,813 (2022 - £8,680) were payable to the fund at the balance sheet date and are included in creditors.


11.


Related party transactions

Included within other debtors due within one year is an amount oustanding from The Tradelink International Group Limited, a company in which Mr M D Wheatcroft is a director, amounting to £1,232,548 (2022: £1,601,548).

 
Page 9