Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-302023-04-011The principal object of the LLP is to provide accountancy, taxation and insolvency services in Gibraltar.truefalse1truefalse OC379751 2023-04-01 2023-11-30 OC379751 2022-04-01 2023-03-31 OC379751 2023-11-30 OC379751 2023-03-31 OC379751 c:CurrentFinancialInstruments 2023-11-30 OC379751 c:CurrentFinancialInstruments 2023-03-31 OC379751 c:CurrentFinancialInstruments c:WithinOneYear 2023-11-30 OC379751 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC379751 d:FRS102 2023-04-01 2023-11-30 OC379751 d:Audited 2023-04-01 2023-11-30 OC379751 d:FullAccounts 2023-04-01 2023-11-30 OC379751 d:LimitedLiabilityPartnershipLLP 2023-04-01 2023-11-30 OC379751 c:WithinOneYear 2023-11-30 OC379751 c:WithinOneYear 2023-03-31 OC379751 d:SmallCompaniesRegimeForAccounts 2023-04-01 2023-11-30 OC379751 d:PartnerLLP3 2023-04-01 2023-11-30 OC379751 c:FurtherSpecificReserve3ComponentTotalEquity 2023-11-30 OC379751 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC379751 e:PoundSterling 2023-04-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: OC379751










SIMMONS GAINSFORD GIBRALTAR LLP










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 NOVEMBER 2023

 
SIMMONS GAINSFORD GIBRALTAR LLP
REGISTERED NUMBER: OC379751

BALANCE SHEET
AS AT 30 NOVEMBER 2023

30 November
31 March
2023
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
132,087
140,760

  
132,087
140,760

Creditors: Amounts Falling Due Within One Year
 5 
(51,818)
(5,198)

Net current assets
  
 
 
80,269
 
 
135,562

Total assets less current liabilities
  
80,269
135,562

  

Net assets
  
80,269
135,562


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 6 
80,269
135,562

  
80,269
135,562

  

  
80,269
135,562


Total members' interests
  

Loans and other debts due to members
 6 
80,269
135,562

  
80,269
135,562


Page 1

 
SIMMONS GAINSFORD GIBRALTAR LLP
REGISTERED NUMBER: OC379751
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

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

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 27 August 2024.




D Pumfrey on behalf of 
Simmons Gainsford LLP
Designated member

The notes on pages 4 to 8 form part of these financial statements.

Page 2

 
SIMMONS GAINSFORD GIBRALTAR LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023




DEBT
Loans and other debts due to members less any amounts due from members in debtors
Other amounts
Total

£
£

Amounts due to members 

189,129
189,129

Balance at 1 April 2022 
189,129
189,129

Members' remuneration charged as an expense
 
180,933
180,933

Members' interests after profit for the period
370,062
370,062

Drawings on account and distribution of profit
 
(234,500)
(234,500)

Amounts due to members
135,562
135,562

Balance at 31 March 2023
135,562
135,562

Members' remuneration charged as an expense
 
147,483
147,483

Members' interests after profit for the period
283,045
283,045

Drawings on account and distribution of profit
 
(202,776)
(202,776)

Amounts due to members
80,269
80,269

Balance at 30 November 2023 
80,269
80,269

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 3

 
SIMMONS GAINSFORD GIBRALTAR LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

1.


General information

Simmons Gainsford Gibraltar LLP is a limited liability partnership, incorporated in England and Wales, registration number OC379751. The address of the registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.
The company has amended its financial reporting date to align with the change in ownership on 6 December 2023. The comparative figures relate to the year ended 31 March 2023. Therefore the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable
The principal object of the LLP is to provide accountancy, taxation and insolvency services in Gibraltar.

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 following principal accounting policies have been applied:

 
2.2

Going concern

On 6th December 2023, the LLP entered into a conditional contract to transfer its assets, liabilities and trading activities to Simmons Gainsford Holdings (Gibraltar) Limited, a Gibraltarian registered entity.
The transaction is subject to Simmons Gainsford Holdings (Gibraltar) Limited obtaining regulatory approval by the Gibraltar Financial Services Commission, and until such time as that approval is received, the LLP continues to trade and remains a going concern and the accounts have been prepared on this basis.

 
2.3

Revenue

Turnover comprises revenue recognised in respect of services supplied, exclusive of Value Added Tax and trade discounts. Where the LLP has incomplete contracts at the period end, income and expenditure for these contracts is recognised so that it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the value of the work performed. Revenue not billed to clients is included in debtors and payments in excess of the relevant amount of revenue are included in creditors.

Page 4

 
SIMMONS GAINSFORD GIBRALTAR LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.4

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 .

 
2.5

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.6

Creditors

Short term creditors are measured at the transaction price.

 
2.7

Operating leases: the LLP as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.8

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.

  
2.9

Taxation

No provision for taxation on the profits of the LLP has been made in the financial statements. Each member is exclusively liable for any tax liabilities arising out of their interest in the LLP, which will be assessed on the individual members and not the LLP.

Page 5

 
SIMMONS GAINSFORD GIBRALTAR LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the period was 1 (2023 - 1).

Page 6

 
SIMMONS GAINSFORD GIBRALTAR LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

4.


Debtors

30 November
31 March
2023
2023
£
£


Trade debtors
92,807
15,872

Amounts owed by group undertakings
-
34,284

Other debtors
34,837
89,678

Prepayments and accrued income
4,443
926

132,087
140,760



5.


Creditors: Amounts falling due within one year

30 November
31 March
2023
2023
£
£

Trade creditors
158
1,398

Amounts owed to group undertakings
50,451
-

Accruals and deferred income
1,209
3,800

51,818
5,198



6.


Loans and other debts due to members


30 November
31 March
2023
2023
£
£



Other amounts due to members
(80,269)
(135,562)



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

Page 7

 
SIMMONS GAINSFORD GIBRALTAR LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

7.


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 £1,040 (2023 - £1,430). Contributions totalling £Nil (2023 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.


8.


Commitments under operating leases

At 30 November 2023 the LLP had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

30 November
31 March
2023
2023
£
£


Not later than 1 year
12,600
14,300


9.


Ultimate parent undertaking and controlling party

The smallest group to prepare consolidated financial statements is that headed by Simmons Gainsford LLP whose registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.


10.


Auditors' information

The auditors' report on the financial statements for the period ended 30 November 2023 was unqualified.

The audit report was signed on 27 August 2024 by Samantha Whiting (Senior statutory auditor) on behalf of GMP Audit Limited.

 
Page 8