Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-310false2023-04-01No description of principal activity0truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC438980 2023-04-01 2024-03-31 OC438980 2022-04-01 2023-03-31 OC438980 2024-03-31 OC438980 2023-03-31 OC438980 c:FurnitureFittings 2023-04-01 2024-03-31 OC438980 c:FurnitureFittings 2024-03-31 OC438980 c:FurnitureFittings 2023-03-31 OC438980 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC438980 c:CurrentFinancialInstruments 2024-03-31 OC438980 c:CurrentFinancialInstruments 2023-03-31 OC438980 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC438980 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC438980 d:FRS102 2023-04-01 2024-03-31 OC438980 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC438980 d:FullAccounts 2023-04-01 2024-03-31 OC438980 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC438980 d:PartnerLLP1 2023-04-01 2024-03-31 OC438980 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC438980 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC438980 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC438980









RED SHOOT LLP







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
RED SHOOT LLP
REGISTERED NUMBER: OC438980

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
882
2,100

  
882
2,100

Current assets
  

Debtors: amounts falling due within one year
 5 
8,122
13,824

Cash at bank and in hand
 6 
406
1,169

  
8,528
14,993

Creditors: Amounts Falling Due Within One Year
 7 
(6,974)
(7,491)

Net current assets
  
 
 
1,554
 
 
7,502

Total assets less current liabilities
  
2,436
9,602

  

Net assets
  
2,436
9,602


Represented by:
  

Loans and other debts due to members within one year
  

Members' other interests
  

Members' capital classified as equity
  
2,436
9,602

  
 
2,436
 
9,602

  
2,436
9,602


Total members' interests
  

Members' other interests
  
2,436
9,602

  
2,436
9,602

Page 1

 
RED SHOOT LLP
REGISTERED NUMBER: OC438980
    
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 on 20 September 2024.




................................................
Andrea Wade
Designated member

Page 2

 
RED SHOOT LLP
REGISTERED NUMBER: OC438980

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



EQUITY
Members' other interests
Members' capital (classified as equity)

£

At incorporation
-

Members' interests after profit for the year
19,920

Other division of profits
187,750

Amounts introduced by members
21,836

Repayment of capital
(219,904)

Balance at 31 March 2023
9,602

Members' interests after profit for the year
9,602

Other division of profits
98,103

Amounts introduced by members
79,595

Repayment of capital
(184,864)

Balance at 31 March 2024 
2,436

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

 
RED SHOOT LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Red Shoot LLP was incorporated as a limited liability partnership in England and Wales. The principal activity of the LLP is the provision of consultancy services.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The following principal accounting policies have been applied:

 
2.2

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.

 
2.3

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 .

Page 4

 
RED SHOOT LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

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:

Fixtures and fittings
-
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.

 
2.5

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.

 
2.6

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.

 
2.7

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.

 
2.8

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.

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

 
RED SHOOT LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.8
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.


3.


Employees

The entity has no employees.


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 April 2023
3,654



At 31 March 2024

3,654



Depreciation


At 1 April 2023
1,554


Charge for the year on owned assets
1,218



At 31 March 2024

2,772



Net book value



At 31 March 2024
882



At 31 March 2023
2,100

Page 6

 
RED SHOOT LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
8,122
13,824

8,122
13,824



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
406
1,169

406
1,169



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other taxation and social security
6,107
6,216

Accruals and deferred income
867
1,275

6,974
7,491


 
Page 7