Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false2023-04-01No description of principal activity4438truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC424623 2023-04-01 2024-03-31 OC424623 2022-04-01 2023-03-31 OC424623 2024-03-31 OC424623 2023-03-31 OC424623 c:Buildings c:LongLeaseholdAssets 2023-04-01 2024-03-31 OC424623 c:PlantMachinery 2023-04-01 2024-03-31 OC424623 c:MotorVehicles 2023-04-01 2024-03-31 OC424623 c:FurnitureFittings 2023-04-01 2024-03-31 OC424623 c:FurnitureFittings 2024-03-31 OC424623 c:FurnitureFittings 2023-03-31 OC424623 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC424623 c:ComputerEquipment 2023-04-01 2024-03-31 OC424623 c:ComputerEquipment 2024-03-31 OC424623 c:ComputerEquipment 2023-03-31 OC424623 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC424623 c:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 OC424623 c:OtherPropertyPlantEquipment 2024-03-31 OC424623 c:OtherPropertyPlantEquipment 2023-03-31 OC424623 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC424623 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC424623 c:CurrentFinancialInstruments 2024-03-31 OC424623 c:CurrentFinancialInstruments 2023-03-31 OC424623 c:CurrentFinancialInstruments 2 2024-03-31 OC424623 c:CurrentFinancialInstruments 2 2023-03-31 OC424623 c:Non-currentFinancialInstruments 2024-03-31 OC424623 c:Non-currentFinancialInstruments 2023-03-31 OC424623 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC424623 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC424623 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 OC424623 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 OC424623 e:FRS102 2023-04-01 2024-03-31 OC424623 e:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC424623 e:FullAccounts 2023-04-01 2024-03-31 OC424623 e:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC424623 c:WithinOneYear 2024-03-31 OC424623 c:WithinOneYear 2023-03-31 OC424623 c:BetweenOneFiveYears 2024-03-31 OC424623 c:BetweenOneFiveYears 2023-03-31 OC424623 2 2023-04-01 2024-03-31 OC424623 e:PartnerLLP2 2023-04-01 2024-03-31 OC424623 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC424623 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC424623 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC424623










LEEDS DAY LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
LEEDS DAY LLP
REGISTERED NUMBER: OC424623

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
48,104
41,741

Current assets
  

Debtors
 5 
740,201
1,021,096

Cash at bank and in hand
 6 
1,366
99,113

  
741,567
1,120,209

Creditors: amounts falling due within one year
 7 
(465,773)
(706,225)

Net current assets
  
 
 
275,794
 
 
413,984

Total assets less current liabilities
  
323,898
455,725

Creditors: amounts falling due after more than one year
 8 
-
(22,223)

Net assets
  
323,898
433,502


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 9 
31,398
141,002

Members' other interests
  

Members' capital classified as equity
  
292,500
292,500

  
323,898
433,502


Total members' interests
  

Amounts due from members (included in debtors)
  
-
(18,625)

Loans and other debts due to members
 9 
31,398
141,002

Members' other interests
  
292,500
292,500

  
323,898
414,877


Page 1

 
LEEDS DAY LLP
REGISTERED NUMBER: OC424623
    
BALANCE SHEET (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: 




................................................
Mohammed Hafiaz
Designated Member

Date: 30 August 2024

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

Leeds Day 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

 
LEEDS DAY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Leeds Day LLP is a limited liability partnership, registered in England and Wales.
The registered office address and principal place of business is Godwin House, George Street, Huntingdon, Cambridgeshire, PE29 3BD.
The LLP's functional and presentational currency is pounds sterling (£) and rounded to the nearest whole pound.

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 recognition

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

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.

 
2.5

Borrowing costs

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

Page 3

 
LEEDS DAY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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 .

 
2.8

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, as stated below.

Depreciation is provided on the following basis:

Long-term leasehold property
-
7%
straight-line per annum
Plant and machinery
-
20%
straight-line per annum
Motor vehicles
-
25%
reducing balance per annum
Fixtures and fittings
-
20%
straight-line per annum

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 4

 
LEEDS DAY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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 Balance Sheet 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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly
Page 5

 
LEEDS DAY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.12
Financial instruments (continued)

traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments
Page 6

 
LEEDS DAY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.12
Financial instruments (continued)


Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the LLP transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the LLP will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the LLP's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 44 (2023 - 38).


4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Other fixed assets
Total

£
£
£
£



Cost 


At 1 April 2023
49,363
15,117
51,565
116,045


Additions
8,976
5,607
-
14,583



At 31 March 2024

58,339
20,724
51,565
130,628



Depreciation


At 1 April 2023
48,931
5,793
19,580
74,304


Charge for the year on owned assets
1,081
3,582
3,557
8,220



At 31 March 2024

50,012
9,375
23,137
82,524



Net book value



At 31 March 2024
8,327
11,349
28,428
48,104



At 31 March 2023
432
9,324
31,985
41,741

Page 7

 
LEEDS DAY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
275,537
426,016

Other debtors
31
31

Prepayments and accrued income
122,715
145,707

Amounts recoverable on long term contracts
341,918
430,717

Amounts due from members
-
18,625

740,201
1,021,096



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,366
99,113

Less: bank overdrafts
(190,060)
(340,189)

(188,694)
(241,076)


Page 8

 
LEEDS DAY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
190,060
340,189

Bank loans
57,699
61,515

Other loans
22,222
33,333

Trade creditors
9,270
9,587

Other taxation and social security
154,851
167,321

Other creditors
1,711
33,320

Accruals and deferred income
29,960
60,960

465,773
706,225


The following liabilities were secured:

2024
2023
£
£



Bank overdrafts
190,060
340,189

Bank loans
79,921
94,848

269,981
435,037

Details of security provided:

The bank overdrafts and bank loans are secured by the bank with a fixed and floating charge over the assets of the LLP.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
-
22,223


Page 9

 
LEEDS DAY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
31,398
141,002

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

2024
2023
£
£



Falling due after more than one year
31,398
141,002

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


10.


Pension commitments

At the balance sheet date a balance of £Nil (2023: £238) was owed by the LLP in respect of money purchase pension scheme contributions payable.


11.


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
2023
£
£


Total obligations
465,375
573,625

Aggregate payments due after more than five years
-
70,000

465,375
643,625

 
Page 10