Caseware UK (AP4) 2023.0.135 2023.0.135 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.30false2022-12-01No description of principal activity30truetrue NC000076 2022-12-01 2023-11-30 NC000076 2021-12-01 2022-11-30 NC000076 2023-11-30 NC000076 2022-11-30 NC000076 c:Buildings c:LongLeaseholdAssets 2022-12-01 2023-11-30 NC000076 c:Buildings c:LongLeaseholdAssets 2023-11-30 NC000076 c:Buildings c:LongLeaseholdAssets 2022-11-30 NC000076 c:MotorVehicles 2022-12-01 2023-11-30 NC000076 c:MotorVehicles 2023-11-30 NC000076 c:MotorVehicles 2022-11-30 NC000076 c:MotorVehicles c:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 NC000076 c:OfficeEquipment 2022-12-01 2023-11-30 NC000076 c:OfficeEquipment 2023-11-30 NC000076 c:OfficeEquipment 2022-11-30 NC000076 c:OfficeEquipment c:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 NC000076 c:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 NC000076 c:CurrentFinancialInstruments 2023-11-30 NC000076 c:CurrentFinancialInstruments 2022-11-30 NC000076 c:Non-currentFinancialInstruments 2023-11-30 NC000076 c:Non-currentFinancialInstruments 2022-11-30 NC000076 c:CurrentFinancialInstruments c:WithinOneYear 2023-11-30 NC000076 c:CurrentFinancialInstruments c:WithinOneYear 2022-11-30 NC000076 c:Non-currentFinancialInstruments c:AfterOneYear 2023-11-30 NC000076 c:Non-currentFinancialInstruments c:AfterOneYear 2022-11-30 NC000076 d:FRS102 2022-12-01 2023-11-30 NC000076 d:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 NC000076 d:FullAccounts 2022-12-01 2023-11-30 NC000076 d:LimitedLiabilityPartnershipLLP 2022-12-01 2023-11-30 NC000076 2 2022-12-01 2023-11-30 NC000076 c:PlantMachinery c:LeasedAssetsHeldAsLessee 2023-11-30 NC000076 c:PlantMachinery c:LeasedAssetsHeldAsLessee 2022-11-30 NC000076 c:LeasedAssetsHeldAsLessee 2023-11-30 NC000076 c:LeasedAssetsHeldAsLessee 2022-11-30 NC000076 d:PartnerLLP1 2022-12-01 2023-11-30 NC000076 d:PartnerLLP2 2022-12-01 2023-11-30 NC000076 d:PartnerLLP3 2022-12-01 2023-11-30 NC000076 d:PartnerLLP4 2022-12-01 2023-11-30 NC000076 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-11-30 NC000076 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-11-30 iso4217:GBP xbrli:pure

Unaudited Financial Statements
Isherwood + Ellis LLP
For the year ended 30 November 2023





































Registered number: NC000076

 
Isherwood + Ellis LLP
 

Information




Members

K Fleming
A Sloan
G Mitchell
G Blair


LLP registered number

NC000076

Registered office

1 Lower CrescentBelfastBT7 1NR

Accountants

Grant Thornton (NI) LLP12 - 15 Donegall Square WestBelfastBT1 6JH


 
Isherwood + Ellis LLP
 

Contents



Page
Accountant's report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9


  
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Independent Accountant's Report to the members of the unaudited financial statements of Isherwood + Ellis LLP for the year ended 30 November 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 compiled the
financial statements of Isherwood + Ellis LLP for the year ended 30 November 2022 which comprise the Statement of Comprehensive Income, the Balance Sheet, and the related notes from the LLP's accounting records, including a summary of significant accounting policies, from the company's records and from information and explanations you have given us.
 
The financial statements have been prepared on the basis set out in the notes to the financial statements.

This report is made solely to the directors of Isherwood + Ellis LLP, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely that we might compile the financial statements that we have been engaged to compile, report to the company's directors that we have done so and state those matters that we have agreed to state to the directors of Isherwood + Ellis LLP, as a body, in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Isherwood + Ellis LLP and its directors, as a body, for our work or for this report.


We have carried out this engagement in accordance with the technical guidance issued by Chartered Accountants Ireland ("the Institute") and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have approved the financial statements for the year ended 30 November 2023 and you have acknowledged on the Balance sheet as at 30 November 2023 your duty to ensure that Isherwood + Ellis LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view under the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Applications of Companies Act) regulations 2008) of Isherwood + Ellis LLP. You consider that Isherwood + Ellis LLP is exempt from the statutory audit requirement for the year ended 30 November 2022.

We have not been instructed to carry out an audit or review the financial statements of Isherwood + Ellis 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. 




  

Grant Thornton (NI) LLP

Chartered Accountants
12 - 15 Donegall Square West
Belfast
BT1 6JH







Date:   27 August 2024
Page 1

 
Isherwood + Ellis LLP
Registered number:NC000076

Balance sheet
As at 30 November 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
192,049
146,545

  
192,049
146,545

Current assets
  

Debtors: amounts falling due within one year
 6 
682,956
882,790

Cash at bank and in hand
 7 
1,061,016
677,077

  
1,743,972
1,559,867

Creditors: Amounts Falling Due Within One Year
 8 
(403,732)
(339,005)

Net current assets
  
 
 
1,340,240
 
 
1,220,862

Total assets less current liabilities
  
1,532,289
1,367,407

Creditors: amounts falling due after more than one year
 9 
(138,436)
(116,702)

  
1,393,853
1,250,705

  

Net assets
  
1,393,853
1,250,705


Represented by:
  

Loans and other debts due to members within one year
  

Members' other interests
  

Members' capital classified as equity
  
1,393,853
1,250,705

  
 
1,393,853
 
1,250,705

  
1,393,853
1,250,705


Total members' interests
  

Members' other interests
  
1,393,853
1,250,705

  
1,393,853
1,250,705


Page 2

 
Isherwood + Ellis LLP
Registered number:NC000076

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 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 27 August 2024.




A Sloan
Designated member

The notes on pages 4 to 9 form part of these financial statements.

Isherwood + Ellis 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 3

 
Isherwood + Ellis LLP
 
 
Notes to the financial statements
For the year ended 30 November 2023

1.


General information

Isherwood + Ellis LLP is incorporated in Northern Ireland, its registered office is address is 1 Lower Crescent, Belfast, BT7 1NR.
The principal activity of the LLP during the year was the provision of architectural design and consultancy services to the construction industry.

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 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 (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The LLP made a profit for the year of £1,125,606 and has net assets of £1,393,853. The LLP meets its working capital requirements through financial support from its members. The members have assessed that there are adequate resources to meet the ongoing costs of the business for a minimum of 12 months from the date of signing the financial statements. For this reason the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business.

Page 4

 
Isherwood + Ellis LLP
 

Notes to the financial statements
For the year ended 30 November 2023

2.Accounting policies (continued)

 
2.3

Revenue recognition

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.

Revenue not billed to clients is included in amounts recoverable on contracts, within trade and other debtors. Payments on account in excess of the relevant amount of revenue are included in excess payments received on account within trade and other creditors.

 
2.4

Operating leases: the LLP as lessee

Rentals paid under operating leases are charged to profit or loss 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.

 
2.5

Interest income

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

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

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

Page 5

 
Isherwood + Ellis LLP
 

Notes to the financial statements
For the year ended 30 November 2023

2.Accounting policies (continued)

 
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

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 the Statement of comprehensive income.

 
2.10

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both straight line and reducing balance methods.

Depreciation is provided on the following basis:

Long-term leasehold property
-
over the period of the lease
Motor vehicles
-
25%
reducing balance
Office equipment
-
15%
& 33.3% straight line

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.

Page 6

 
Isherwood + Ellis LLP
 

Notes to the financial statements
For the year ended 30 November 2023

2.Accounting policies (continued)

 
2.11

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.

 
2.12

 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.

 
2.13

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.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:
a) Recoverability of debtors
Estimates are made in respect of the recoverable value of trade and other debtors. When assessing the level of provisions required, factors including current trading experience, historical experience and the aging profile of debtors are considered.
b) Revenue recognition
In determining the amount of revenue to be recognised on incomplete contracts, it is necessary to estimate the stage of completion by reference to the remaining time and cost to be incurred to complete them and the consideration that will be paid. These estimates are made on a contract-by-contract basis and a different assessment of these factors would result in a change to the amount of revenue recognised.
c) Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on future investments, economic utilisation and the physical condition of the assets.

Page 7

 
Isherwood + Ellis LLP
 
 
Notes to the financial statements
For the year ended 30 November 2023

4.


Employees

The average monthly number of employees, including directors, during the year was 30 (2022 - 30).


5.


Tangible fixed assets





Long-term leasehold property
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 December 2022
14,065
192,569
522,825
729,459


Additions
-
134,056
39,640
173,696


Disposals
-
(136,945)
-
(136,945)



At 30 November 2023

14,065
189,680
562,465
766,210



Depreciation


At 1 December 2022
14,065
74,992
493,857
582,914


Charge for the year
-
24,996
15,774
40,770


Disposals
-
(49,523)
-
(49,523)



At 30 November 2023

14,065
50,465
509,631
574,161



Net book value



At 30 November 2023
-
139,215
52,834
192,049



At 30 November 2022
-
117,578
28,968
146,546

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
133,487
117,577

133,487
117,577

Page 8

 
Isherwood + Ellis LLP
 
 
Notes to the financial statements
For the year ended 30 November 2023

6.


Debtors

2023
2022
£
£


Trade debtors
181,709
183,139

Other debtors
80,844
66,034

Prepayments and accrued income
97,910
29,114

Amounts recoverable on long-term contracts
322,493
604,503

682,956
882,790



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,061,016
677,077

1,061,016
677,077



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
83,215
37,328

Other taxation and social security
184,808
138,788

Obligations under finance lease and hire purchase contracts
16,666
22,009

Accruals and deferred income
119,043
140,880

403,732
339,005



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
138,435
116,701

138,435
116,701


Page 9