Caseware UK (AP4) 2023.0.135 2023.0.135 2023-04-01falseNo description of principal activity910truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC361699 2023-04-01 2024-03-31 OC361699 2022-04-01 2023-03-31 OC361699 2024-03-31 OC361699 2023-03-31 OC361699 c:PlantMachinery 2023-04-01 2024-03-31 OC361699 c:PlantMachinery 2024-03-31 OC361699 c:PlantMachinery 2023-03-31 OC361699 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC361699 c:FurnitureFittings 2023-04-01 2024-03-31 OC361699 c:FurnitureFittings 2024-03-31 OC361699 c:FurnitureFittings 2023-03-31 OC361699 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC361699 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC361699 c:CurrentFinancialInstruments 2024-03-31 OC361699 c:CurrentFinancialInstruments 2023-03-31 OC361699 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC361699 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC361699 d:FRS102 2023-04-01 2024-03-31 OC361699 d:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 OC361699 d:FullAccounts 2023-04-01 2024-03-31 OC361699 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC361699 c:WithinOneYear 2024-03-31 OC361699 c:WithinOneYear 2023-03-31 OC361699 2 2023-04-01 2024-03-31 OC361699 d:PartnerLLP1 2023-04-01 2024-03-31 OC361699 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC361699 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC361699 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC361699










Fairweathers Solicitors LLP








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 March 2024

 
Fairweathers Solicitors LLP
 
  
Chartered accountants' report to the members on the preparation of the unaudited statutory financial statements of Fairweathers Solicitors LLP for the year ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), we have prepared for your approval the financial statements of Fairweathers Solicitors LLP for the year ended 31 March 2024 which comprise the Balance sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the members in accordance with the terms of our engagement letter dated 25 May 2023Our work has been undertaken solely to prepare for your approval the financial statements of Fairweathers Solicitors LLP and state those matters that we have agreed to state to the Fairweathers Solicitors LLP's members in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fairweathers Solicitors LLP and its members for our work or for this report. 

It is your duty to ensure that Fairweathers Solicitors LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Fairweathers Solicitors LLP. You consider that Fairweathers Solicitors LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Fairweathers Solicitors LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
37 St Margaret's Street
Canterbury
Kent
CT1 2TU
6 September 2024
Page 1

 
Fairweathers Solicitors LLP
Registered number: OC361699

Balance sheet
As at 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,743
11,002

  
6,743
11,002

Current assets
  

Debtors: amounts falling due within one year
 5 
213,828
782,435

Cash at bank and in hand
  
448,487
256,994

  
662,315
1,039,429

Creditors: Amounts Falling Due Within One Year
 6 
(215,990)
(266,383)

Net current assets
  
 
 
446,325
 
 
773,046

Total assets less current liabilities
  
453,068
784,048

  

Net assets
  
453,068
784,048


Represented by:
  

Loans and other debts due to members within one year
  

Members' capital classified as a liability
  
253,068
584,048

Other amounts
 7 
200,000
200,000

  
453,068
784,048

  

  
453,068
784,048


Total members' interests
  

Loans and other debts due to members
 7 
453,068
784,048

  
453,068
784,048


Page 2

 
Fairweathers Solicitors LLP
Registered number: OC361699

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: 




N Fairweather
Designated member
Date: 5 September 2024

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

Fairweathers Solicitors 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 3

 
Fairweathers Solicitors LLP
 

 
Notes to the financial statements
For the year ended 31 March 2024

1.


General information

Fairweathers Solicitors LLP is a limited liability partnership which was incorporated in the UK and registered in England.
The LLP's registered office is Suit A4, Clover House, John Wilson Business Park, Whitstable, Kent, CT5 3QZ. 
The financial statements have been presented in Sterling (£).

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

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.

Page 4

 
Fairweathers Solicitors LLP
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)


2.2
Turnover (continued)

Turnover recognised in this manner is based on an assessment of the fair value of the services provided by the balance sheet date as a proportion of the total value of the engagement. Turnover is not recognised in respect of engagements where the right to receive payment is contingent on factors outside of the control of the LLP, the outcome of which could not be foreseen at the balance sheet date. Unbilled turnover is included in debtors as amounts recoverable on contracts.
For those client assignments in progress at the reporting date for which no income has been recognised, either because they are being undertaken on a contingent fee basis or where income recognition is dependent upon a specific significant act which is yet to occur, the accumulated costs are recognised as work in progress. Cost includes the labour costs of personnel directly engaged in providing the service, including supervisory personnel, and attributable overheads. Provision is made in order to ensure that work in progress is valued at the lower of cost and estimated selling price less costs to complete and sell.. 

 
2.3

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 the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
33% straight line
Fixtures and fittings
-
20% - 33% 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.

 
2.4

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.

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.
Page 5

 
Fairweathers Solicitors LLP
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)


2.4
Financial instruments (continued)


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.

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.

Derecognition of financial instruments

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.

Page 6

 
Fairweathers Solicitors 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

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

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.8

Borrowing costs

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


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2023 - 10).

Page 7

 
Fairweathers Solicitors LLP
 

 
Notes to the financial statements
For the year ended 31 March 2024

4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 April 2023
143,116
112,968
256,084


Additions
-
1,872
1,872



At 31 March 2024

143,116
114,840
257,956



Depreciation


At 1 April 2023
143,116
101,966
245,082


Charge for the year on owned assets
-
6,131
6,131



At 31 March 2024

143,116
108,097
251,213



Net book value



At 31 March 2024
-
6,743
6,743



At 31 March 2023
-
11,002
11,002


5.


Debtors

2024
2023
£
£


Trade debtors
127,884
730,218

Other debtors
27,500
29,800

Prepayment
58,444
22,417

213,828
782,435



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
29,278

Trade creditors
18,368
28,216

Other taxation and social security
98,422
129,967

Other creditors
3,497
5,184

Accruals and deferred income
95,703
73,738

215,990
266,383


Page 8

 
Fairweathers Solicitors LLP
 

 
Notes to the financial statements
For the year ended 31 March 2024

7.


Loans and other debts due to members


2024
2023
£
£



Members' capital treated as debt
253,068
584,048

Other amounts due to members
200,000
200,000

453,068
784,048

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

2024
2023
£
£



Falling due within one year
453,068
784,048

453,068
784,048

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.
No restrictions or limitations exist on the ability of the members to reduce the amount of members' other interests. 


8.


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
-
30,000

-
30,000


9.


Controlling party

The ultimate controlling party is N Fairweather. 


Page 9