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REGISTERED NUMBER: OC395709 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Mathewson Waters Architects LLP

Mathewson Waters Architects LLP (Registered number: OC395709)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Mathewson Waters Architects LLP

General Information
for the year ended 31 March 2024







Designated members: S J Waters
H J E Waters
A J B Klemz
A J Rouse
A N Bray





Registered office: C/O Cooper Parry
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: OC395709 (England and Wales)





Accountants: Cooper Parry Advisory Limited
250 Fowler Avenue
Farnborough
Hampshire
GU14 7JP

Mathewson Waters Architects LLP (Registered number: OC395709)

Balance Sheet
31 March 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 13,272 18,934

Current assets
Work in progress 74,345 75,332
Debtors 5 112,122 95,512
Cash at bank and in hand 111,887 149,335
298,354 320,179
Creditors
Amounts falling due within one year 6 71,868 74,796
Net current assets 226,486 245,383
Total assets less current liabilities
and
Net assets attributable to members 239,758 264,317

Loans and other debts due to members 8 239,758 264,317

Total members' interests
Loans and other debts due to members 8 239,758 264,317

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 13 August 2024 and were signed by:





H J E Waters - Designated member

Mathewson Waters Architects LLP (Registered number: OC395709)

Notes to the Financial Statements
for the year ended 31 March 2024


1. Statutory information

Mathewson Waters Architects LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary a mounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the amounts recoverable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings33% Straight line method
Motor vehicles25% Straight line method
Computers33% Straight line method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Impairment of fixed assets
At each reporting period end date, the limited liability partnership reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the limited liability partnership estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Cash and cash equivalents
Cash and cash equivalents include cash in hand and deposits held at call with banks.

Work in progress
Work in progress is valued at the lower of cost and net realisable value, movement relates to amounts recoverable under contract.

Financial instruments
The limited liability partnership has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Mathewson Waters Architects LLP (Registered number: OC395709)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


2. Accounting policies - continued

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Basic financial liabilities
Basic financial liabilities, including creditors, and loans from fellow entities are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the limited liability partnership's obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the limited liability partnership are recorded at the proceeds received, net of direct issue costs.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

Members' participating interests
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within 'Members' remuneration charged as an expense' in arriving at the relevant year's result. Undivided amounts that are classified as equity are shown within 'Members' other interests'. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members' interests.

Where there exists an asset and liability component in respect of an individual member's participation rights, they are presented on a gross basis unless the LLP has both a legally enforceable right to set off the recognised amounts, and it intends either to settle on a net basis or to settle and realise these amounts simultaneously, in which case they are presented net.

3. Employee information

The average number of employees during the year was 7 (2023 - 7 ) .

Mathewson Waters Architects LLP (Registered number: OC395709)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


4. Tangible fixed assets
Plant and
machinery
etc
£
Cost
At 1 April 2023 120,645
Additions 6,866
At 31 March 2024 127,511
Depreciation
At 1 April 2023 101,711
Charge for year 12,528
At 31 March 2024 114,239
Net book value
At 31 March 2024 13,272
At 31 March 2023 18,934

5. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 104,219 87,996
Other debtors 7,903 7,516
112,122 95,512

6. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 4,350 2,658
Taxation and social security 59,438 54,828
Other creditors 8,080 17,310
71,868 74,796

7. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 1,880 1,880
Between one and five years 470 2,350
2,350 4,230

8. Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.