Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2023-04-01falseNo description of principal activity3031truefalse OC318811 2023-04-01 2024-03-31 OC318811 2022-04-01 2023-03-31 OC318811 2024-03-31 OC318811 2023-03-31 OC318811 c:Buildings c:ShortLeaseholdAssets 2023-04-01 2024-03-31 OC318811 c:Buildings c:ShortLeaseholdAssets 2024-03-31 OC318811 c:Buildings c:ShortLeaseholdAssets 2023-03-31 OC318811 c:FurnitureFittings 2023-04-01 2024-03-31 OC318811 c:FurnitureFittings 2024-03-31 OC318811 c:FurnitureFittings 2023-03-31 OC318811 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC318811 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC318811 c:CurrentFinancialInstruments 2024-03-31 OC318811 c:CurrentFinancialInstruments 2023-03-31 OC318811 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC318811 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC318811 c:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2023-04-01 2024-03-31 OC318811 c:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2024-03-31 OC318811 c:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2023-03-31 OC318811 d:FRS102 2023-04-01 2024-03-31 OC318811 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC318811 d:FullAccounts 2023-04-01 2024-03-31 OC318811 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC318811 c:WithinOneYear 2024-03-31 OC318811 c:WithinOneYear 2023-03-31 OC318811 c:BetweenOneFiveYears 2024-03-31 OC318811 c:BetweenOneFiveYears 2023-03-31 OC318811 d:PartnerLLP1 2023-04-01 2024-03-31 OC318811 d:PartnerLLP5 2023-04-01 2024-03-31 OC318811 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC318811 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC318811 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC318811









BRASIER FREETH LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
BRASIER FREETH LLP
REGISTERED NUMBER: OC318811

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
59,852
51,696

  
59,852
51,696

Current assets
  

Debtors: amounts falling due within one year
 5 
915,009
1,256,400

Cash at bank and in hand
 6 
1,656,648
1,996,496

  
2,571,657
3,252,896

Creditors: amounts falling due within one year
 7 
(671,162)
(613,366)

Net current assets
  
 
 
1,900,495
 
 
2,639,530

Total assets less current liabilities
  
1,960,347
2,691,226

Provisions for liabilities
  

Other provisions
 8 
(45,000)
(42,820)

Net assets
  
1,915,347
2,648,406


Represented by:
  

Loans and other debts due to members within one year
  

Members' capital classified as a liability
  
1,110,923
1,123,723

Other amounts
 9 
804,424
1,524,683

  
1,915,347
2,648,406

  

  
1,915,347
2,648,406


Total members' interests
  

Loans and other debts due to members
 9 
1,915,347
2,648,406

  
1,915,347
2,648,406


Page 1

 
BRASIER FREETH LLP
REGISTERED NUMBER: OC318811
    
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: 




................................................
Lisa David Limited
................................................
Salix Ventures Limited
Designated member
Designated member


Date: 26 August 2024

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

Brasier Freeth 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

 
BRASIER FREETH LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2024





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

£
£
£

Amounts due to members 

1,123,723
1,197,302
2,321,025

Balance at 1 April 2022 
1,123,723
1,197,300
2,321,023

Members' remuneration charged as an expense
 
-
2,777,184
2,777,184

Members' interests after profit for the year
1,123,723
3,974,484
5,098,207

Drawings on account and distribution of profit
 
-
(2,449,801)
(2,449,801)

Amounts due to members
 
1,123,723
1,524,683
2,648,406

Balance at 31 March 2023
1,123,723
1,524,683
2,648,406

Members' remuneration charged as an expense
 
-
1,914,122
1,914,122

Members' interests after profit for the year
 
1,123,723
3,438,805
4,562,528

Amounts withdrawn by members
(12,800)
-
(12,800)

Drawings on account and distribution of profit
 
-
(2,634,381)
(2,634,381)

Amounts due to members
 
1,110,923
804,424
1,915,347

Balance at 31 March 2024 
1,110,923
804,424
1,915,347

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

 
BRASIER FREETH LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Brasier Freeth LLP is a limited liability partnership, incorporated in England and Wales within the United Kingdom. The address of the registered office is Concept House, Home Park Mill Link, Kings Langley, Hertfordshire, WD4 8UD.
The LLP's principal activity is that of Chartered Surveyors.
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 preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

 
2.2

Revenue

Turnover comprises revenue recognised by the LLP in respect of Chartered Surveying services provided during the year.

 
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

Pensions

The LLP operates a defined contribution pension scheme and the pension charge represents the amounts payable by the LLP to the fund in respect of the year.

Page 4

 
BRASIER FREETH LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

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 .

 
2.6

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 equal instalments, reducing balance method and the straight line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
Equal instalments over the lease term
Equipment, fixtures & fittings
-
20-33.3% straight line

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.

 
2.7

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.

 
2.8

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.

Page 5

 
BRASIER FREETH LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 30 (2023 - 31).

Page 6

 
BRASIER FREETH LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Short-term leasehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 April 2023
72,037
367,571
439,608


Additions
-
25,705
25,705



At 31 March 2024

72,037
393,276
465,313



Depreciation


At 1 April 2023
34,813
353,099
387,912


Charge for the year on owned assets
7,335
10,214
17,549



At 31 March 2024

42,148
363,313
405,461



Net book value



At 31 March 2024
29,889
29,963
59,852



At 31 March 2023
37,224
14,472
51,696

Page 7

 
BRASIER FREETH LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
624,039
810,613

Other debtors
290,970
445,787

915,009
1,256,400



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,656,648
1,996,496



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
374,696
223,347

Other taxation and social security
114,202
146,758

Other creditors
31,934
31,118

Accruals and deferred income
150,330
212,143

671,162
613,366



8.


Provisions





Provisions

£





At 1 April 2023
42,820


Charged to profit or loss
2,180



At 31 March 2024
45,000

Provision is made for the exit costs of dilapidations under the terms of the leases.

Page 8

 
BRASIER FREETH LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans and other debts due to members


2024
2023
£
£



Members' capital treated as debt
1,110,923
1,123,723

Other amounts due to members
804,424
1,524,683

1,915,347
2,648,406

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

2024
2023
£
£



Falling due within one year
1,915,347
2,648,406

1,915,347
2,648,406

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

The LLP operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the LLP in an independently administered fund. The pension cost charge represents contributions payable by the LLP to the fund and amounted to £23,190 (2023 - £22,516).


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
£
£


Not later than 1 year
204,885
206,746

Later than 1 year and not later than 5 years
197,489
360,586

402,374
567,332

 
Page 9