Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3133false2023-08-01falseNo description of principal activity31trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SO305487 2023-08-01 2024-03-31 SO305487 2022-08-01 2023-07-31 SO305487 2024-03-31 SO305487 2023-07-31 SO305487 c:Buildings 2023-08-01 2024-03-31 SO305487 c:Buildings 2024-03-31 SO305487 c:Buildings 2023-07-31 SO305487 c:Buildings c:OwnedOrFreeholdAssets 2023-08-01 2024-03-31 SO305487 c:Buildings c:ShortLeaseholdAssets 2023-08-01 2024-03-31 SO305487 c:Buildings c:ShortLeaseholdAssets 2024-03-31 SO305487 c:Buildings c:ShortLeaseholdAssets 2023-07-31 SO305487 c:OfficeEquipment 2023-08-01 2024-03-31 SO305487 c:OfficeEquipment 2024-03-31 SO305487 c:OfficeEquipment 2023-07-31 SO305487 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-08-01 2024-03-31 SO305487 c:OtherPropertyPlantEquipment 2023-08-01 2024-03-31 SO305487 c:OtherPropertyPlantEquipment 2024-03-31 SO305487 c:OtherPropertyPlantEquipment 2023-07-31 SO305487 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2023-08-01 2024-03-31 SO305487 c:OwnedOrFreeholdAssets 2023-08-01 2024-03-31 SO305487 c:CurrentFinancialInstruments 2024-03-31 SO305487 c:CurrentFinancialInstruments 2023-07-31 SO305487 c:Non-currentFinancialInstruments 2024-03-31 SO305487 c:Non-currentFinancialInstruments 2023-07-31 SO305487 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 SO305487 c:CurrentFinancialInstruments c:WithinOneYear 2023-07-31 SO305487 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 SO305487 c:Non-currentFinancialInstruments c:AfterOneYear 2023-07-31 SO305487 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-03-31 SO305487 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-07-31 SO305487 d:FRS102 2023-08-01 2024-03-31 SO305487 d:AuditExempt-NoAccountantsReport 2023-08-01 2024-03-31 SO305487 d:FullAccounts 2023-08-01 2024-03-31 SO305487 d:LimitedLiabilityPartnershipLLP 2023-08-01 2024-03-31 SO305487 c:WithinOneYear 2024-03-31 SO305487 c:WithinOneYear 2023-07-31 SO305487 c:BetweenOneFiveYears 2024-03-31 SO305487 c:BetweenOneFiveYears 2023-07-31 SO305487 2 2023-08-01 2024-03-31 SO305487 d:PartnerLLP1 2023-08-01 2024-03-31 SO305487 d:PartnerLLP2 2023-08-01 2024-03-31 SO305487 d:PartnerLLP4 2023-08-01 2024-03-31 SO305487 d:PartnerLLP5 2023-08-01 2024-03-31 SO305487 d:PartnerLLP6 2023-08-01 2024-03-31 SO305487 d:PartnerLLP7 2023-08-01 2024-03-31 SO305487 d:PartnerLLP9 2023-08-01 2024-03-31 SO305487 d:PartnerLLP10 2023-08-01 2024-03-31 SO305487 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 SO305487 c:FurtherSpecificReserve3ComponentTotalEquity 2023-07-31 SO305487 e:PoundSterling 2023-08-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: SO305487










INNES JOHNSTON LLP
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

 
INNES JOHNSTON LLP
 

INFORMATION




Designated Members
M D Alder
A M Oliver
Members
J L Forbes
J A Mitchell
C Forbes
S MacGregor


LLP registered number
SO305487

Registered office
95 - 99 Esplanade
Kirkcaldy
Fife
KY1 1RF

Accountants
EQ Accountants Limited
Chartered Accountants
Pentland House
Saltire Centre
Glenrothes
Fife
KY6 2AH


 
INNES JOHNSTON LLP
REGISTERED NUMBER: SO305487

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

31 March
31 July
2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
487,717
361,821

  
487,717
361,821

Current assets
  

Debtors: amounts falling due within one year
 5 
781,586
842,929

Cash at bank and in hand
  
298,181
337,532

  
1,079,767
1,180,461

Creditors: Amounts Falling Due Within One Year
 6 
(352,981)
(226,831)

Net current assets
  
 
 
726,786
 
 
953,630

Total assets less current liabilities
  
1,214,503
1,315,451

Creditors: amounts falling due after more than one year
 7 
(14,127)
(228,372)

  
1,200,376
1,087,079

  

Net assets
  
1,200,376
1,087,079


Represented by:
  

Loans and other debts due to members within one year
  

Members' capital classified as a liability
  
300,000
180,000

Other amounts
 9 
900,376
907,079

  
1,200,376
1,087,079

  

  
1,200,376
1,087,079


Total members' interests
  

Loans and other debts due to members
 9 
1,200,376
1,087,079

  
1,200,376
1,087,079

Page 1

 
INNES JOHNSTON LLP
REGISTERED NUMBER: SO305487

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

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 by: 




A M Oliver
M D Alder
Designated member
Designated member


Date: 20 August 2024

The notes on pages 3 to 7 form part of these financial statements.

Innes Johnston 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

 
INNES JOHNSTON LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Innes Johnston LLP is a limited liability partnership and incorporated in Scotland with registration number SO305487. The address of the registered office is the 95 - 99 Esplanade, Kirkcaldy, Fife, KY1 1RF.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the turnover can be reliably measured. Turnover 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 turnover is recognised:

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:
the amount of turnover 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

Interest income

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

 
2.4

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 Statement of financial position. The assets of the plan are held separately from the LLP in independently administered funds.

Page 3

 
INNES JOHNSTON LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

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, on a reducing balance basis and using straight line method.

Depreciation is provided on the following basis:

Freehold property
-
2% straight line
Freehold property improvements
-
5-10% straight line
Office equipment
-
25% straight line
Leasehold property improvements
-
over life of lease

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.

 
2.6

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.

Financial instruments are recognised in the LLP's Statement of financial position when the LLP becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.


3.


Employees

The average monthly number of employees during the period was 33 (2023 - 31).

Page 4

 
INNES JOHNSTON LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Tangible fixed assets







Freehold property
Leasehold property improve-  ments
Freehold property improve-ments
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 August 2023
271,966
28,539
159,320
268,636
728,461


Additions
140,750
-
-
5,495
146,245


Disposals
-
-
-
(212,467)
(212,467)



At 31 March 2024

412,716
28,539
159,320
61,664
662,239



Depreciation


At 1 August 2023
34,527
20,664
61,535
249,914
366,640


Charge for the period on owned assets
3,626
1,903
7,415
7,405
20,349


Disposals
-
-
-
(212,467)
(212,467)



At 31 March 2024

38,153
22,567
68,950
44,852
174,522



Net book value



At 31 March 2024
374,563
5,972
90,370
16,812
487,717



At 31 July 2023
237,439
7,875
97,785
18,722
361,821


5.


Debtors

31 March
31 July
2024
2023
£
£


Trade debtors
163,337
117,287

Other debtors
586,061
708,910

Prepayments and accrued income
32,188
16,732

781,586
842,929


Page 5

 
INNES JOHNSTON LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

31 March
31 July
2024
2023
£
£

Bank loans
223,821
19,774

Other taxation and social security
78,707
118,624

Other creditors
-
20,090

Accruals and deferred income
50,453
68,343

352,981
226,831



Secured loans

Included within bank loans are loans of £213,820 (2023: £9,774) which are secured by a bond and floating charge over the assets of the LLP and standard security over certain properties owned by the LLP.


7.


Creditors: Amounts falling due after more than one year

31 March
31 July
2024
2023
£
£

Bank loans
14,127
228,372


Secured loans
Included within bank loans are loans of £nil (2023: £207,665) which are secured by a bond and floating charge over the assets of the LLP and standard security over certain properties owned by the LLP.


8.


Loans


Analysis of the maturity of loans is given below:


31 March
31 July
2024
2023
£
£

Amounts falling due within one year

Bank loans
223,821
19,774


Amounts falling due 2-5 years

Bank loans
14,127
228,372


237,948
248,146


Page 6

 
INNES JOHNSTON LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

9.


Loans and other debts due to members


31 March
31 July
2024
2023
£
£



Members' capital treated as debt
(300,000)
(180,000)

Other amounts due to members
(900,376)
(907,079)

(1,200,376)
(1,087,079)

Loans and other debts due to members may be further analysed as follows:

31 March
31 July
2024
2023
£
£



Falling due within one year
1,200,376
1,087,079

1,200,376
1,087,079

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


10.


Commitments under operating leases

At 31 March 2024 the LLP had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

31 March
31 July
2024
2023
£
£


Not later than 1 year
23,000
23,000

Later than 1 year and not later than 5 years
13,417
28,750

36,417
51,750


Page 7