REGISTERED NUMBER: |
UHY CALVERT SMITH LLP |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
REGISTERED NUMBER: |
UHY CALVERT SMITH LLP |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
UHY CALVERT SMITH LLP (REGISTERED NUMBER: OC404692) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Abridged Balance Sheet | 1 |
Notes to the Financial Statements | 4 |
UHY CALVERT SMITH LLP (REGISTERED NUMBER: OC404692) |
ABRIDGED BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 550,718 | 576,839 |
UHY CALVERT SMITH LLP (REGISTERED NUMBER: OC404692) |
ABRIDGED BALANCE SHEET - continued |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
7 |
150,718 |
176,839 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 400,000 | 400,000 |
550,718 | 576,839 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 7 | 150,718 | 176,839 |
Members' other interests | 400,000 | 400,000 |
550,718 | 576,839 |
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. |
UHY CALVERT SMITH LLP (REGISTERED NUMBER: OC404692) |
ABRIDGED BALANCE SHEET - continued |
31 MARCH 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
UHY CALVERT SMITH LLP (REGISTERED NUMBER: OC404692) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
UHY Calvert Smith LLP is registered in England and Wales. The LLP's registered number and registered office address are as below: |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The long-term financing of the firm is provided by capital introduced by the members, bank facilities and profits retained within the LLP. Current bank facilities, which are reviewed annually, are utilised to provide working capital facilities and to assist in capital projects. |
The firm produces annual budgets and forecasts which take account of expected changes in the firm's trading performance and these demonstrate that the firm will be able to operate within its current level of facilities. On this basis, the members consider it appropriate to prepare the financial statements on a going concern basis. |
Preparation of consolidated financial statements |
The financial statements contain information about UHY Calvert Smith LLP as an individual LLP and do not contain consolidated financial information as the parent of a group. The LLP has taken the option under Section 398 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 not to prepare consolidated financial statements. |
Revenue recognition |
Turnover for the provision of services is recognised when the LLP earns the right to consideration. Turnover excludes Value Added Tax. |
Tangible fixed assets |
Office Equipment | - |
Fixtures and fittings | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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. |
UHY CALVERT SMITH LLP (REGISTERED NUMBER: OC404692) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
The LLP is not subject to tax on its profits as taxation remains the responsibility of its members. Accordingly, no current or deferred tax charge is provided for in these financial statements. |
Pensions |
The LLP operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 | 1 |
NET BOOK VALUE |
At 31 March 2024 | 1 |
At 31 March 2023 | 1 |
UHY CALVERT SMITH LLP (REGISTERED NUMBER: OC404692) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Members other interests rank after unsecured creditors, and loans and other debts due to members ranks equally with other unsecured creditors in the event of a winding up. The members of the LLP have agreed with its bankers that the amounts included in members other interests and the amounts included in loans and other debts due to members will rank behind all amounts due to the bank. The members have also agreed that amounts included in members other interests will not be drawn. |
8. | OTHER FINANCIAL COMMITMENTS |
The total future minimum lease payments under non-cancellable leases are as follows: |
2024 | 2023 |
£ | £ |
Amounts payable in less than 1 year | 50,000 | 50,000 |
Amounts payable in more than one year but less than 5 years | - | 50,000 |
9. | RELATED PARTY DISCLOSURES |
The LLP has provided security for a maximum of £400,000 (2022 - £400,000) of member's capital financed by bank loans. |