Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity4238falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC420659 2023-04-01 2024-03-31 OC420659 2022-04-01 2023-03-31 OC420659 2024-03-31 OC420659 2023-03-31 OC420659 c:Buildings c:ShortLeaseholdAssets 2023-04-01 2024-03-31 OC420659 c:Buildings c:ShortLeaseholdAssets 2024-03-31 OC420659 c:Buildings c:ShortLeaseholdAssets 2023-03-31 OC420659 c:FurnitureFittings 2023-04-01 2024-03-31 OC420659 c:FurnitureFittings 2024-03-31 OC420659 c:FurnitureFittings 2023-03-31 OC420659 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC420659 c:OfficeEquipment 2023-04-01 2024-03-31 OC420659 c:OfficeEquipment 2024-03-31 OC420659 c:OfficeEquipment 2023-03-31 OC420659 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC420659 c:ComputerEquipment 2023-04-01 2024-03-31 OC420659 c:ComputerEquipment 2024-03-31 OC420659 c:ComputerEquipment 2023-03-31 OC420659 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC420659 c:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 OC420659 c:OtherPropertyPlantEquipment 2024-03-31 OC420659 c:OtherPropertyPlantEquipment 2023-03-31 OC420659 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC420659 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC420659 c:CurrentFinancialInstruments 2024-03-31 OC420659 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC420659 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-04-01 2024-03-31 OC420659 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-03-31 OC420659 d:FRS102 2023-04-01 2024-03-31 OC420659 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC420659 d:FullAccounts 2023-04-01 2024-03-31 OC420659 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC420659 c:WithinOneYear 2024-03-31 OC420659 c:BetweenOneFiveYears 2024-03-31 OC420659 c:MoreThanFiveYears 2024-03-31 OC420659 2 2023-04-01 2024-03-31 OC420659 6 2023-04-01 2024-03-31 OC420659 d:PartnerLLP1 2023-04-01 2024-03-31 OC420659 d:PartnerLLP2 2023-04-01 2024-03-31 OC420659 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC420659 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC420659










BUTCHER ANDREWS LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
BUTCHER ANDREWS LLP
REGISTERED NUMBER: OC420659

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
Note
£

Fixed assets
  

Tangible assets
 4 
35,536

  
35,536

Current assets
  

Stocks
  
2,000

Debtors: amounts falling due within one year
 5 
1,030,505

Cash at bank and in hand
  
17,795

  
1,050,300

Creditors: Amounts Falling Due Within One Year
 6 
(184,087)

Net current assets
  
 
 
866,213

Total assets less current liabilities
  
901,749

Provisions for liabilities
  

Other provisions
  
(10,000)

  
 
 
(10,000)

Net assets
  
891,749

Page 1

 
BUTCHER ANDREWS LLP
REGISTERED NUMBER: OC420659
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

2024
Note
£

Represented by:
  

Loans and other debts due to members within one year
  

Members' capital classified as a liability
  
375,000

Other amounts
 8 
516,749

  
891,749

  

  
891,749


Total members' interests
  

Loans and other debts due to members
 8 
891,749

  
891,749


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 income statement 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: 




................................................
J Buckingham
................................................
S Underwood
Designated member
Designated member


Date: 15 July 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
BUTCHER ANDREWS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Butcher Andrews LLP is a limited liability partnership incorporated in England and Wales, registeration number OC420659. The registered office is 1 Old Post Office Street, Fakenham, Norfolk, NR21 9BL.
The LLP was incorporated on 16 January 2018 and started trading on 1 April 2023.
On 1 April 2023, the business previously carried on by Butcher Andrews, a general partnership, was transferred to the LLP. In accordance with the LLP SORP, this transaction has been dealt with as a group reconstruction. Pro-forma corresponding amounts are provided on that basis.

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 financial statements are presented in sterling which is the functional currency of the LLP and rounded to the nearest £. 
The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Going concern

The Members have considered the LLP's position at the time of signing the financial statements. They have considered future trading expectations, the current financial position ot the LLP and other factors such as mitigating ongoing costs. 
Based on this, the Members have concluded that the LLP will have adequate resurces to continue in operational existence for at least twelve months from the date of signing these financial statements and will therefore adopt the going concern basis of accounting.

Page 3

 
BUTCHER ANDREWS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

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.

 
2.4

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 4

 
BUTCHER ANDREWS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

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 Statement of financial position. 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 .

 
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.

Depreciation is provided on the following basis:

Short-term leasehold property
-
10%
Staight Line
Fixtures and fittings
-
15%
Reducing Balance
Office equipment
-
25%
Reducing Balance
Computer equipment
-
20%
Straight Line
Other fixed assets
-
25%
Straight Line

Page 5

 
BUTCHER ANDREWS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted LLP shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Income statement for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.12

Work in progress

Where no right to consideration has been obtained, the costs to date are recognised in work in progress. Where it is considered likely that recorded costs will not be recovered in full the carrying value of work in progress is reduced acoordingly in order to reflect the recoverable amount.

  
2.13

Accrued income

Where there is a right to consideration, income is accrued at the carrying value of time recorded, less deductions for recovery rate.

 
2.14

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.

 
2.15

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.

 
2.16

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.

 
2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
BUTCHER ANDREWS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.18

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.

The LLP has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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.

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.


3.


Employees

The average monthly number of employees, including members, during the year was 42 (2023 - 38).

Page 7

 
BUTCHER ANDREWS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Short-term leasehold property
Fixtures and fittings
Office equipment
Computer equipment
Other fixed assets
Total

£
£
£
£
£
£



Cost or valuation


At 1 April 2023
11,364
16,909
30,039
17,446
1,855
77,613


Additions
-
1,490
240
731
-
2,461



At 31 March 2024

11,364
18,399
30,279
18,177
1,855
80,074



Depreciation


At 1 April 2023
1,831
3,099
21,254
8,874
694
35,752


Charge for the year on owned assets
1,137
1,542
2,008
3,635
464
8,786



At 31 March 2024

2,968
4,641
23,262
12,509
1,158
44,538



Net book value



At 31 March 2024
8,396
13,758
7,017
5,668
697
35,536


5.


Debtors

2024
£


Trade debtors
489,985

Prepayments and accrued income
540,520

1,030,505


Page 8

 
BUTCHER ANDREWS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
14,753

Other taxation and social security
121,879

Other creditors
4,225

Accruals and deferred income
43,230

184,087



7.


Provisions





Other provision

£





Charged to profit or loss
10,000



At 31 March 2024
10,000


8.


Loans and other debts due to members


2024
£



Members' capital treated as debt
375,000

Other amounts due to members
516,749

891,749

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

2024
£



Falling due within one year
891,749

891,749

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

Page 9

 
BUTCHER ANDREWS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

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 £23,924 (2023 - £22,851). Contributions totalling £1,810 were payable to the fund at the reporting date and are included in creditors.


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:

2024
£


Not later than 1 year
56,536

Later than 1 year and not later than 5 years
164,134

Later than 5 years
23,333

244,003

 
Page 10