Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC374198 2023-04-01 2024-03-31 OC374198 2022-04-01 2023-03-31 OC374198 2024-03-31 OC374198 2023-03-31 OC374198 c:FurnitureFittings 2023-04-01 2024-03-31 OC374198 c:FurnitureFittings 2024-03-31 OC374198 c:FurnitureFittings 2023-03-31 OC374198 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC374198 c:CurrentFinancialInstruments 2024-03-31 OC374198 c:CurrentFinancialInstruments 2023-03-31 OC374198 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC374198 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC374198 d:FRS102 2023-04-01 2024-03-31 OC374198 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC374198 d:FullAccounts 2023-04-01 2024-03-31 OC374198 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC374198 d:PartnerLLP1 2023-04-01 2024-03-31 OC374198 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC374198 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC374198 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC374198 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC374198 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC374198 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC374198 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC374198









RED OAK CAPITAL PARTNERS LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
RED OAK CAPITAL PARTNERS LLP
REGISTERED NUMBER: OC374198

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
285
356

  
285
356

Current assets
  

Debtors: amounts falling due within one year
 5 
5,000
-

Cash at bank and in hand
 6 
15,525
32,522

  
20,525
32,522

Creditors: Amounts Falling Due Within One Year
 7 
(24,062)
(38,846)

Net current liabilities
  
 
 
(3,537)
 
 
(6,324)

Total assets less current liabilities
  
(3,252)
(5,968)

  

Net liabilities
  
(3,252)
(5,968)


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 8 
(23,253)
(25,968)

  
(23,253)
(25,968)

Members' other interests
  

Members' capital classified as equity
  
20,000
20,000

Other reserves classified as equity
  
1
-

  
 
20,001
 
20,000

  
(3,252)
(5,968)


Total members' interests
  

Loans and other debts due to members
 8 
(23,253)
(25,968)

Members' other interests
  
20,001
20,000

  
(3,252)
(5,968)

Page 1

 
RED OAK CAPITAL PARTNERS LLP
REGISTERED NUMBER: OC374198
    
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: 




M Grunnell
Designated member

Date: 5 September 2024

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
RED OAK CAPITAL PARTNERS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Red Oak Capital Partners LLP is a Limited Liability partnership, incorporated in England and Wales. The registration number is OC374198 and the registered office is situated at 101 New Cavendish Street, 1st Floor South, London, united Kingdom, W1W 6XH.

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

Going concern

In assessing the ability of the partnership to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the partnership. Given that the partnership is in a net deficit position, the members have assured to continue to provide adequate funds to the partnership to meets its obligations, and not to demand repayment of any funds due to them, until the partnership is in a financial position to do so. As a result, the members consider it appropriate to prepare the financial statements on a going concern basis.

 
2.3

Revenue

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

Rendering of services

Revenue 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 revenue 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.

Page 3

 
RED OAK CAPITAL PARTNERS 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, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20% Reducing balance

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

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.

Page 4

 
RED OAK CAPITAL PARTNERS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

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.


3.


Employees

The average monthly number of persons (including members with contracts of employment) employed during the year was as follows:


        2024
        2023
            No.
            No.







Designated Members
2
2


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 April 2023
4,145



At 31 March 2024

4,145



Depreciation


At 1 April 2023
3,789


Charge for the year on owned assets
71



At 31 March 2024

3,860



Net book value



At 31 March 2024
285



At 31 March 2023
356
Page 5

 
RED OAK CAPITAL PARTNERS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Other debtors
5,000
-

5,000
-



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
15,525
32,522

15,525
32,522



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other taxation and social security
21,562
36,846

Accruals and deferred income
2,500
2,000

24,062
38,846


Page 6

 
RED OAK CAPITAL PARTNERS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
23,253
25,968

23,253
25,968

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

2024
2023
£
£



23,253
25,968

23,253
25,968

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

Page 7