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REGISTERED NUMBER: OC306349 (England and Wales)















MATSON, DRISCOLL & DAMICO UK LLP

Unaudited Financial Statements for the Year Ended 31 December 2023






MATSON, DRISCOLL & DAMICO UK LLP (REGISTERED NUMBER: OC306349)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MATSON, DRISCOLL & DAMICO UK LLP

General Information
for the year ended 31 December 2023







DESIGNATED MEMBERS: Davies UK Holdco Limited
Davies Group Limited





REGISTERED OFFICE: 5th Floor
20 Gracechurch Street
London
EC3V 0BG





REGISTERED NUMBER: OC306349 (England and Wales)





ACCOUNTANTS: Tudor John Limited
Nightingale House
46-48 East Street
Epsom
Surrey
KT17 1HQ

MATSON, DRISCOLL & DAMICO UK LLP (REGISTERED NUMBER: OC306349)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 38,064 47,050

CURRENT ASSETS
Debtors 6 3,108,351 3,714,100
Cash at bank and in hand 1,288,231 1,804,459
4,396,582 5,518,559
CREDITORS
Amounts falling due within one year 7 3,340,610 2,276,713
NET CURRENT ASSETS 1,055,972 3,241,846
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,094,036

3,288,896

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

1,094,036

3,288,896

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 1,094,036 3,288,896

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 December 2023.

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.

MATSON, DRISCOLL & DAMICO UK LLP (REGISTERED NUMBER: OC306349)

Balance Sheet - continued
31 December 2023


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 26 August 2024 and were signed by:




Davies UK Holdco Limited - Designated member




Davies Group Limited - Designated member


MATSON, DRISCOLL & DAMICO UK LLP (REGISTERED NUMBER: OC306349)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Matson, Driscoll & Damico UK LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover represents net invoices sales of services, excluding value added tax.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - over the life of the property lease
Fixtures and fittings - Straight line over 5 years
Computer equipment - Straight line over 3 years

FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis 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.

AMOUNTS RECOVERABLE ON CONTRACTS
Included within Trade Debtors are Amounts Recoverable on Contracts, which represent the recoverable sales value of unbilled time on contracts that commenced during the year but which were not complete at the end of the financial period.

4. EMPLOYEE INFORMATION

The average number of employees during the year was 27 (2022 - 24 ) .

MATSON, DRISCOLL & DAMICO UK LLP (REGISTERED NUMBER: OC306349)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Office and Computer
property equipment fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 356,413 10,801 63,119 172,140 602,473
Additions - 1,400 480 29,249 31,129
Disposals - - (170 ) (18,896 ) (19,066 )
At 31 December 2023 356,413 12,201 63,429 182,493 614,536
DEPRECIATION
At 1 January 2023 356,413 4,226 58,085 136,699 555,423
Charge for year - 3,749 2,745 33,564 40,058
Eliminated on disposal - - (113 ) (18,896 ) (19,009 )
At 31 December 2023 356,413 7,975 60,717 151,367 576,472
NET BOOK VALUE
At 31 December 2023 - 4,226 2,712 31,126 38,064
At 31 December 2022 - 6,575 5,034 35,441 47,050

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,147,689 1,669,287
Amounts recoverable on contract 1,162,792 1,184,081
Other debtors 797,870 860,732
3,108,351 3,714,100

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 842,925 402,345
Taxation and social security 147,005 288,785
Other creditors 2,350,680 1,585,583
3,340,610 2,276,713

MATSON, DRISCOLL & DAMICO UK LLP (REGISTERED NUMBER: OC306349)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 237,053 237,053
Between one and five years 39,508 276,561
276,561 513,614

9. LOANS AND OTHER DEBTS DUE TO MEMBERS
2023 2022
£    £   
Amounts owed to members in respect of profits 1,094,036 3,288,896

Falling due within one year 1,094,036 3,288,896

Capital loans and other debts due to members rank behind creditors, in accordance with the members' agreement.

10. POST BALANCE SHEET EVENTS

On 29 February 2024, Matson, Driscoll & Damico UK LLP was acquired by Davies UK Holdco Limited. It is considered a non-adjusting event for the purposes of these financial statements.