Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31No description of principal activityfalsefalse02022-07-200truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC443195 2022-07-19 OC443195 2022-07-20 2023-12-31 OC443195 2021-07-20 2022-07-19 OC443195 2023-12-31 OC443195 1 2022-07-20 2023-12-31 OC443195 c:PlantMachinery 2022-07-20 2023-12-31 OC443195 c:PlantMachinery 2023-12-31 OC443195 c:PlantMachinery c:OwnedOrFreeholdAssets 2022-07-20 2023-12-31 OC443195 c:CurrentFinancialInstruments 2023-12-31 OC443195 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 OC443195 d:FRS102 2022-07-20 2023-12-31 OC443195 d:AuditExemptWithAccountantsReport 2022-07-20 2023-12-31 OC443195 d:FullAccounts 2022-07-20 2023-12-31 OC443195 d:LimitedLiabilityPartnershipLLP 2022-07-20 2023-12-31 OC443195 d:PartnerLLP1 2022-07-20 2023-12-31 OC443195 d:PartnerLLP2 2022-07-20 2023-12-31 OC443195 c:FurtherSpecificReserve2ComponentTotalEquity 2023-12-31 OC443195 c:FurtherSpecificReserve3ComponentTotalEquity 2023-12-31 OC443195 e:PoundSterling 2022-07-20 2023-12-31 iso4217:GBP xbrli:pure
Registered number: OC443195 (England and Wales)














FRONT STREET SEARCH LLP
UNAUDITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023


 
FRONT STREET SEARCH LLP
 


INFORMATION



Designated Members
J M Astill
J Magnolfi

LLP registered number
OC443195

Registered office
Birchin Court
5th Floor
19-25 Birchin Lane
London
United Kingdom
EC3V 9DU



 
FRONT STREET SEARCH LLP
 


CONTENTS



Page
Accountants' Report
 
1
Balance Sheet
 
2 - 3
Reconciliation of Members' Interests
 
4
Notes to the Financial Statements
 
5 - 9



 
FRONT STREET SEARCH LLP
 

 
  
CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FRONT STREET SEARCH LLP
FOR THE PERIOD ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), we have prepared for your approval the financial statements of Front Street Search LLP for the period ended 31 December 2023 which comprise  the Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the members in accordance with the terms of our engagement letter dated 20 August 2024Our work has been undertaken solely to prepare for your approval the financial statements of Front Street Search LLP and state those matters that we have agreed to state to the Front Street Search LLP's members in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Front Street Search LLP and its members for our work or for this report. 

It is your duty to ensure that Front Street Search LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Front Street Search LLP. You consider that Front Street Search LLP is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Front Street Search LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



ZEDRA Corporate Reporting Services (UK) Limited
Birchin Court
5th Floor
19-25 Birchin Lane
London
United Kingdom
EC3V 9DU
20 August 2024
Page 1


 
FRONT STREET SEARCH LLP
REGISTERED NUMBER:OC443195


BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
Note
£

Fixed assets
  

Tangible assets
 2 
34,141

  
34,141

Current assets
  

Debtors: amounts falling due within one year
 3 
165,324

Cash at bank and in hand
  
831

  
166,155

Creditors: Amounts Falling Due Within One Year
 4 
(7,550)

Net current assets
  
 
 
158,605

Total assets less current liabilities
  
192,746

  

Net assets
  
192,746

Page 2


 
FRONT STREET SEARCH LLP
REGISTERED NUMBER:OC443195

    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

2023
Note
£

Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 5 
56,023

  
56,023

Members' other interests
  

Members' capital classified as equity
  
136,723

  
 
136,723

  
192,746


Total members' interests
  

Loans and other debts due to members
  
56,023

Members' other interests
  
136,723

  
192,746


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 on 20 August 2024.




J M Astill
Designated member

The notes on pages 5 to 9 form part of these financial statements.

Page 3


 
FRONT STREET SEARCH LLP
 


RECONCILIATION OF MEMBERS' INTERESTS
FOR THE PERIOD ENDED 31 DECEMBER 2023






EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Other reserves
Total
Other amounts
Total
Total

£
£
£
£
£

At Incorporation
-
-
-
-
-

Profit for the period available for discretionary division among members
 
136,723
136,723
-
-
136,723

Members' interests after profit for the period
136,723
136,723
-
-
136,723

Amounts introduced by members
-
-
56,023
56,023
56,023

Amounts due to members
56,023
56,023

Balance at 31 December 2023 
136,723
136,723
56,023
56,023
192,746

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 4


 
FRONT STREET SEARCH LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.Accounting policies

 
1.1

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 following principal accounting policies have been applied:

 
1.2

Going concern

The financial statements have been prepared on the going concern basis as the LLP's members have considered the profits generated together with the future plans for the business. The members have considered a period of at least 12 months from the date of approval of these financial statements and expect the LLP to continue trading for this period. For this reason, the members continue to adopt the going concern basis in preparing the financial statements.

 
1.3

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.

Page 5


 
FRONT STREET SEARCH LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

 
1.4

Foreign currency translation

Functional and presentation currency

The LLP's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

 
1.5

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 automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .

 
1.6

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 6


 
FRONT STREET SEARCH LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.Accounting policies (continued)


1.6
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.

The estimated useful lives range as follows:

Plant and machinery
-
5
years

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.

 
1.7

Debtors

Short-term debtors are measured at transaction price.

 
1.8

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.

 
1.9

Creditors

Short-term creditors are measured at the transaction price. 

Page 7


 
FRONT STREET SEARCH LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


Additions
36,171



At 31 December 2023

36,171



Depreciation


Charge for the period on owned assets
2,030



At 31 December 2023

2,030



Net book value



At 31 December 2023
34,141


3.


Debtors

2023
£


Trade debtors
162,880

Other debtors
1,889

Prepayments and accrued income
554

165,323



4.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
5,700

Accruals and deferred income
1,850

7,550


Page 8


 
FRONT STREET SEARCH LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

5.


Loans and other debts due to members


2023
£



Other amounts due to members
56,023

56,023

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

2023
£



Falling due within one year
56,023

56,023

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


6.


Related party transactions

During the year, revenue totalling £162,980 was received from AstillCo LLC, a Company under common control of the designated members. This revenue was received on the basis of services provided by Front Street Search LLP on behalf of AstillCo LLC.
At the year end a balance of £162,880 was due from AstillCo LLC, this amount was unsecured, interest free and repayable on demand.


7.


Post balance sheet events

There were no adjusting or non-adjusting events ocurring between the end of the reporting period and the date these financial statements were approved.

 
Page 9