Limited Liability Partnership registration number OC336039 (England and Wales)
SDA CONSULTING LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
SDA CONSULTING LLP
CONTENTS
Page
Members' report
1 - 3
Balance sheet
4 - 5
Notes to the financial statements
6 - 11
SDA CONSULTING LLP
MEMBERS' REPORT
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The members present their annual report and financial statements for the year ended 31 March 2024.

Principal activities and business review

SDA Consulting LLP are a leading independent construction consultancy and chartered surveying practice. Our principal activities include Project Management, Quantity Surveying/Cost Management, Building Surveying, Principal Designer and Clerk of Works services.

 

Based in Manchester we provide regionally based construction consultancy services to both public and private sector clients predominantly in the North West of England across various sectors including Education, Housing, Local Authority, Healthcare and Finance.

 

As a RICS Regulated Practice, we operate to the highest standards of business conduct and professional ethics and are committed to high quality service delivery and sustainable operating practices. Our accreditations include ISO 9001:2015, CHAS, Cyber Essentials and Green Mark Level 3.

 

The partners are pleased to report that FY 2023/4 saw revenue increase by 18% as we continued to win new work with both long-established clients who choose to work with us time and time again and several new clients. We continue to operate at strong levels of profitability, with well-established principles of constant performance monitoring and effective cash management allowing us to continuously operate well within our working capital arrangements, paying all suppliers on time.

 

The Partners would like to thank our people for delivery of another year of strong performance. Performance excellence is fundamental to our success, and we have focused on the strength of our talent and succession management. This has enabled us to achieve high levels of staff retention and we have promoted several key members of our talented team into management and project delivery roles whilst adding further new recruits to support our growth, all led by our well-established management team.

 

Fair review of the business

From our modern vibrant office hub in Manchester, we have focused on winning work though our long-standing client relationships, with project highlights in the year including:

 

 

SDA CONSULTING LLP
MEMBERS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -

Looking forward, we have a strong pipeline of work for the foreseeable future with ongoing projects including:

 

 

 

 

With a strong pipeline of work underpinned by framework agreements in our core markets, we have a strong platform for success in the coming financial year. We are pleased to have added Stockport MBC’s Professional Services Framework to our portfolio of framework appointments with other appointments including frameworks and dynamic purchasing systems with University of Manchester, Lancaster University, EN Procure, Fusion 21, Cutting Edge, Innovation Chain North, Clarion Housing, Procure Plus, The Procurement Hub, Crescent Purchasing Consortium DPS, Crown Commercial Services DPS and Prosper DPS.

 

In addition, our ongoing commitment to reducing the impact of our operations on the environment saw us sponsor a Woodland Trust planting scheme, co-ordinating the planting of 1,000 native broadleaved trees in 2023 to enhance the natural environment, encourage biodiversity, capture carbon and provide flood mitigation measures. This was part of an overall social value programme that included ongoing provision of apprenticeships and training schemes, participation in an annual charity bike ride and the sponsorship of the Old Mancunians Veterans Football Team.

 

Members' drawings, contributions and repayments

Capital paid into the LLP is determined by approved amendments to the Membership Agreement, with reference to each member's profit sharing ratio. The Membership Agreement provides for sufficient working capital to be held in the LLP through a combination of capital introduced and long term member's loans. Members' capital and loans are repayable on retirement. The apportionment of annual profits is based on profit sharing ratios as determined by the Membership Agreement and accordingly all members' interests are classified as a debt of the LLP.

 

Designated members

The designated members who held office during the year and up to the date of signature of the financial statements were as follows:

J Cosgrove
M S Ingham
C Leach
J Turner
SDA CONSULTING LLP
MEMBERS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
Small companies exemption

This report has been prepared in accordance with the special provisions relating to small LLPs within Part 15 of the Companies Act 2006.

Approved by the members on 22 August 2024 and signed on behalf by:
22 August 2024
J Cosgrove
M S Ingham
Designated Member
Designated Member
C Leach
J Turner
Designated Member
Designated Member
SDA CONSULTING LLP
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 4 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
70,988
88,156
Current assets
Stocks
4
27,053
27,195
Debtors
5
389,581
313,998
Cash at bank and in hand
379,947
303,173
796,581
644,366
Creditors: amounts falling due within one year
6
(194,059)
(150,936)
Net current assets
602,522
493,430
Total assets less current liabilities
673,510
581,586
Creditors: amounts falling due after more than one year
7
(54,077)
(70,065)
Net assets attributable to members
619,434
511,521
Represented by:
Loans and other debts due to members within one year
Members' capital classified as debt
4,000
4,000
Amounts falling due within one year
319,434
211,521
Amounts falling due after more than one year
296,000
296,000
619,434
511,521
Total members' interests
Loans and other debts due to members
615,434
507,521
Members' other interests
4,000
4,000
619,434
511,521

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

SDA CONSULTING LLP
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 5 -

For the financial year ended 31 March 2024 the limited liability partnership 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) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The financial statements were approved by the members and authorised for issue on 22 August 2024 and are signed on their behalf by:
22 August 2024
J Cosgrove
M S Ingham
Designated member
Designated Member
C Leach
J Turner
Designated Member
Designated Member
Limited Liability Partnership Registration No. OC336039
SDA CONSULTING LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
1
Accounting policies
Limited liability partnership information

SDA Consulting LLP is a limited liability partnership incorporated in England and Wales. The registered office is 2nd Floor, The Tower, Deva City Office Park, Trinity Way, Manchester, United Kingdom, M3 7BF.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the amounts recoverable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time.

Rendering of services

Turnover 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:

 

 

 

 

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% Reducing Balance/ 33.3% Straight Line
Office equipment
33.3% Straight Line/ 20% Straight Line
Motor vehicles
25% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

SDA CONSULTING LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 7 -
1.4
Work in progress

Work in progress represents the fair value of work undertaken on contracts to provide professional services which have not been completed and are unbilled at the balance sheet date.

1.5
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.6
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the limited liability partnership transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the limited liability partnership after deducting all of its liabilities.

SDA CONSULTING LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 8 -
Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the limited liability partnership’s obligations expire or are discharged or cancelled.

1.7
Taxation

The taxation payable on the profits of the LLP is the personal liability of the members and therefore no provision is made in the financial statements for such taxation or deferred taxation.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

SDA CONSULTING LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 9 -
1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average number of persons (excluding members) employed by the partnership during the year was:

2024
2023
Number
Number
Total
19
16
3
Tangible fixed assets
Fixtures and fittings
Office equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023
20,135
99,527
68,529
188,193
Additions
-
8,406
-
8,406
At 31 March 2024
20,137
107,933
68,529
196,599
Depreciation and impairment
At 1 April 2023
5,668
82,946
11,422
100,036
Depreciation charged in the year
4,892
6,406
14,277
25,575
At 31 March 2024
10,560
89,352
25,699
125,610
Carrying amount
At 31 March 2024
9,577
18,581
42,830
70,988
At 31 March 2023
14,467
16,582
57,107
88,156
4
Stocks
2024
2023
£
£
Work in progress
27,053
27,195
SDA CONSULTING LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 10 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
311,623
239,580
Other debtors
77,958
74,417
389,581
313,997
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loan
10,000
10,000
Trade creditors
28,301
20,261
Taxation and social security
129,187
94,574
Other creditors
26,571
26,101
194,059
150,936
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loan
16,667
26,667
Other creditors
37,410
43,398
54,077
70,065

The partners are jointly and severally liable for the bank loan.

8
Loans and other debts due to members
2024
2023
£
£
Analysis of loans
Amounts falling due within one year
319,434
211,521
Amounts falling due after more than one year
296,000
296,000
615,434
507,521

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

SDA CONSULTING LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 11 -
9
Operating lease commitments
Lessee

At the reporting end date the limited liability partnership had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Total commitment
70,801
131,392
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