Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31true2022-05-0124falsefalseNo description of principal activity24The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC352508 2022-05-01 2023-10-31 OC352508 2021-05-01 2022-04-30 OC352508 2023-10-31 OC352508 2022-04-30 OC352508 c:Buildings c:LongLeaseholdAssets 2022-05-01 2023-10-31 OC352508 c:Buildings c:LongLeaseholdAssets 2023-10-31 OC352508 c:Buildings c:LongLeaseholdAssets 2022-04-30 OC352508 c:FurnitureFittings 2022-05-01 2023-10-31 OC352508 c:FurnitureFittings 2023-10-31 OC352508 c:FurnitureFittings 2022-04-30 OC352508 c:FurnitureFittings c:OwnedOrFreeholdAssets 2022-05-01 2023-10-31 OC352508 c:OwnedOrFreeholdAssets 2022-05-01 2023-10-31 OC352508 c:CurrentFinancialInstruments 2023-10-31 OC352508 c:CurrentFinancialInstruments 2022-04-30 OC352508 c:CurrentFinancialInstruments 2 2023-10-31 OC352508 c:CurrentFinancialInstruments 2 2022-04-30 OC352508 c:Non-currentFinancialInstruments 2023-10-31 OC352508 c:Non-currentFinancialInstruments 2022-04-30 OC352508 c:CurrentFinancialInstruments c:WithinOneYear 2023-10-31 OC352508 c:CurrentFinancialInstruments c:WithinOneYear 2022-04-30 OC352508 c:Non-currentFinancialInstruments c:AfterOneYear 2023-10-31 OC352508 c:Non-currentFinancialInstruments c:AfterOneYear 2022-04-30 OC352508 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-10-31 OC352508 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2022-04-30 OC352508 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-10-31 OC352508 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2022-04-30 OC352508 e:EntityNoLongerTradingButTradedInPast 2022-05-01 2023-10-31 OC352508 e:FRS102 2022-05-01 2023-10-31 OC352508 e:AuditExempt-NoAccountantsReport 2022-05-01 2023-10-31 OC352508 e:FullAccounts 2022-05-01 2023-10-31 OC352508 e:LimitedLiabilityPartnershipLLP 2022-05-01 2023-10-31 OC352508 2 2022-05-01 2023-10-31 OC352508 e:PartnerLLP2 2022-05-01 2023-10-31 OC352508 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-10-31 OC352508 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-04-30 OC352508 f:PoundSterling 2022-05-01 2023-10-31 iso4217:GBP xbrli:pure
Registered number: OC352508














GARDNER CROFT LLP
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 31 OCTOBER 2023

 
GARDNER CROFT LLP
REGISTERED NUMBER: OC352508

BALANCE SHEET
AS AT 31 OCTOBER 2023

31 October
30 April
2023
2022
Note

Fixed assets
  

Tangible assets
 4 
13,189
18,362

  
13,189
18,362

Current assets
  

Debtors: amounts falling due within one year
 5 
370,340
415,167

Cash at bank and in hand
  
16,659
80,061

  
386,999
495,228

Creditors: Amounts Falling Due Within One Year
 6 
(162,788)
(224,892)

Net current assets
  
 
 
224,211
 
 
270,336

Total assets less current liabilities
  
237,400
288,698

Creditors: amounts falling due after more than one year
 7 
-
(51,298)

  
237,400
237,400

  

Net assets
  
£237,400
£237,400


Represented by:
  

Loans and other debts due to members within one year
  

Members' other interests
  

Members' capital classified as equity
  
237,400
237,400

  
£237,400
£237,400


Total members' interests
  

Members' other interests
  
237,400
237,400

  
£237,400
£237,400


Page 1

 
GARDNER CROFT LLP
REGISTERED NUMBER: OC352508

BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 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 28 August 2024.




___________________________
T L Townsend
Designated member

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

Gardner Croft 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 2

 
GARDNER CROFT LLP
 

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







EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Other reserves
Total
Other amounts
Total
Total

Members' remuneration charged as an expense
-
-
-
8,993
8,993
8,993

Profit for the period available for discretionary division among members
 
-
15,130
15,130
-
-
15,130

Members' interests after profit for the period
237,400
15,130
252,530
65,868
65,868
318,398

Other division of profits
-
(15,130)
(15,130)
15,130
15,130
-

Drawings on account and distribution of profit
-
-
-
(87,816)
(87,816)
(87,816)

Amounts due from members
 



(6,818)
(6,818)


Balance at 30 April 2022
237,400
-
237,400
(6,819)
(6,819)
230,581

Members' remuneration charged as an expense
-
-
-
3,901
3,901
3,901

Loss for the period available for discretionary division among members
 
-
(28,050)
(28,050)
-
-
(28,050)

Members' interests after profit for the period
237,400
(28,050)
209,350
(2,918)
(2,918)
206,432

Other division of profits
-
28,050
28,050
(28,050)
(28,050)
-

Amounts introduced by members
-
-
-
20,000
20,000
20,000

Drawings on account and distribution of profit
-
-
-
(96,793)
(96,793)
(96,793)

Amounts due from members
(107,760)
(107,760)

Balance at 31 October 2023 
£237,400
£-
£237,400
£(107,760)
£(107,760)
£129,640

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

 
GARDNER CROFT LLP
 

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

1.


General information

Gardner Croft LLP is a limited liability partnership incorporated in England and Wales. The registered office address and principal place of business is 2 Castle Street, Canterbury, Kent, CT1 2QH.

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

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.

 
2.3

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.

 
2.4

Interest income

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

 
2.5

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.

 
2.6

Borrowing costs

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

Page 4

 
GARDNER CROFT LLP
 

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

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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 .

 
2.9

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 the straight-line method or reducing balance basis.

Depreciation is provided on the following basis:

Long-term leasehold property
-
5%
straight line
Fixtures and fittings
-
25%
reducing balance

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.

 
2.10

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.

Page 5

 
GARDNER CROFT LLP
 

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

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.

 
2.13

Financial instruments

The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The LLP's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the LLP after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including members, during the year was 24 (2022: 24).

Page 6

 
GARDNER CROFT LLP
 

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

4.


Tangible fixed assets







Long-term leasehold property
Fixtures and fittings
Total



Cost or valuation


At 1 May 2022
18,625
53,405
72,030



At 31 October 2023

18,625
53,405
72,030



Depreciation


At 1 May 2022
10,332
43,336
53,668


Charge for the period on owned assets
1,397
3,776
5,173



At 31 October 2023

11,729
47,112
58,841



Net book value



At 31 October 2023
£6,896
£6,293
£13,189



At 30 April 2022
£8,293
£10,069
£18,362

Page 7

 
GARDNER CROFT LLP
 

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

5.


Debtors

31 October
30 April
2023
2022


Trade debtors
46,778
47,394

Other debtors
-
82

Prepayments and accrued income
2,225
66,807

Amounts recoverable on long term contracts
213,577
294,066

Amounts due from members
107,760
6,818

£370,340
£415,167



6.


Creditors: Amounts falling due within one year

31 October
30 April
2023
2022

Bank overdrafts
39,951
45,877

Bank loans
-
16,000

Other loans
-
58,078

Trade creditors
-
5,832

Other taxation and social security
-
58,356

Other creditors
35,000
3,603

Accruals and deferred income
87,837
37,146

£162,788
£224,892


Included within other loans is an amount of £nil (2022: £1,997) representing amounts due within one year relating to the repayment of a loan on retirement of a member.


7.


Creditors: Amounts falling due after more than one year

31 October
30 April
2023
2022

Bank loans
-
50,667

Other loans
-
631

£-
£51,298




Page 8

 
GARDNER CROFT LLP
 

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

8.


Loans


Analysis of the maturity of loans is given below:


31 October
30 April
2023
2022

Amounts falling due within one year

Bank loans
-
16,000

Other loans
-
58,078


-
74,078

Amounts falling due 1-2 years

Bank loans
-
16,000

Other loans
-
631


-
16,631

Amounts falling due 2-5 years

Bank loans
-
34,667


-
34,667


£-
£125,376



9.


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 £14,210 (2022 - £13,060) . Contributions totalling £nil (2022 - £3,603) were payable to the fund at the balance sheet date and are included in creditors.


10.


Related party transactions

T Townsend owns one-third of the leasehold property from which the business trades. Rent totalling £20,000 (2022 - £20,000) has been paid to T Townsend during the year, on an arms length basis.

Page 9