Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31662023-04-01falseNo description of principal activitytruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC385166 2023-04-01 2024-03-31 OC385166 2022-04-01 2023-03-31 OC385166 2024-03-31 OC385166 2023-03-31 OC385166 c:Buildings c:LongLeaseholdAssets 2023-04-01 2024-03-31 OC385166 c:OfficeEquipment 2023-04-01 2024-03-31 OC385166 c:OfficeEquipment 2024-03-31 OC385166 c:OfficeEquipment 2023-03-31 OC385166 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC385166 c:ComputerEquipment 2023-04-01 2024-03-31 OC385166 c:CurrentFinancialInstruments 2024-03-31 OC385166 c:CurrentFinancialInstruments 2023-03-31 OC385166 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC385166 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC385166 d:FRS102 2023-04-01 2024-03-31 OC385166 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC385166 d:FullAccounts 2023-04-01 2024-03-31 OC385166 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC385166 d:PartnerLLP1 2023-04-01 2024-03-31 OC385166 d:PartnerLLP4 2023-04-01 2024-03-31 OC385166 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC385166 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC385166 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC385166 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC385166 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC385166









THE ROYALTY CONSULTANCY LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
THE ROYALTY CONSULTANCY LLP
REGISTERED NUMBER: OC385166

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,888
9,179

  
6,888
9,179

Current assets
  

Debtors: amounts falling due within one year
 5 
53,497
76,228

Cash at bank and in hand
 6 
68,196
49,084

  
121,693
125,312

Creditors: amounts falling due within one year
 7 
(36,394)
(54,448)

Net current assets
  
 
 
85,299
 
 
70,864

Total assets less current liabilities
  
92,187
80,043

  

Net assets
  
92,187
80,043


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
  
92,087
79,943

  
92,087
79,943

Members' other interests
  

Members' capital classified as equity
  
100
100

  
 
100
 
100

  
92,187
80,043


Total members' interests
  

Loans and other debts due to members
  
92,087
79,943

Members' other interests
  
100
100

  
92,187
80,043


Page 1

 
THE ROYALTY CONSULTANCY LLP
REGISTERED NUMBER: OC385166
    
STATEMENT OF FINANCIAL POSITION (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: 




Matthew Russell Clark
Francesca Charlotte Newnham
Designated Member
Designated Member


Date: 7 October 2024
Date: 7 October 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
THE ROYALTY CONSULTANCY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Royalty Consultancy LLP is a limited liability partnership incorporated in England and Wales. Its registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH. The financial statements are presented in Sterling, which is the functional currency of the company.
The principal activity of the LLP is to provide royalty auditing 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 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

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

Borrowing costs

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

 
2.4

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 Statement of Financial Position. The assets of the plan are held separately from the LLP in independently administered funds.

Page 3

 
THE ROYALTY CONSULTANCY 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:

Long-term leasehold property
-
25%
reducing balance
Office equipment
-
25%
reducing balance
Computer equipment
-
25%
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

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.

Page 4

 
THE ROYALTY CONSULTANCY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

2024
2023
£
£

Wages and salaries
190,035
230,488

Social security costs
15,891
20,465

Cost of defined contribution scheme
3,799
5,201

209,725
256,154


The average monthly number of employees, including directors, during the year was 6 (2023 - 6).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 April 2023
26,206


Disposals
(12,133)



At 31 March 2024

14,073



Depreciation


At 1 April 2023
17,023


Charge for the year on owned assets
2,295


Disposals
(12,133)



At 31 March 2024

7,185



Net book value



At 31 March 2024
6,888



At 31 March 2023
9,183

Page 5

 
THE ROYALTY CONSULTANCY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
45,736
54,708

Other debtors
928
8,034

Prepayments and accrued income
6,830
13,481

53,494
76,223



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
68,196
49,084

Less: bank overdrafts
(1,112)
(3,888)

67,084
45,196



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
1,112
3,889

Trade creditors
2,745
972

Other taxation and social security
29,537
46,255

Other creditors
-
332

Accruals and deferred income
3,000
3,000

36,394
54,448


Page 6