Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-300falseNo description of principal activitytrue2023-05-010truefalse OC440841 2023-05-01 2024-04-30 OC440841 2022-01-28 2023-04-30 OC440841 2024-04-30 OC440841 2023-04-30 OC440841 c:CurrentFinancialInstruments 2024-04-30 OC440841 c:CurrentFinancialInstruments 2023-04-30 OC440841 c:CurrentFinancialInstruments c:WithinOneYear 2024-04-30 OC440841 c:CurrentFinancialInstruments c:WithinOneYear 2023-04-30 OC440841 d:FRS102 2023-05-01 2024-04-30 OC440841 d:Audited 2023-05-01 2024-04-30 OC440841 d:FullAccounts 2023-05-01 2024-04-30 OC440841 d:LimitedLiabilityPartnershipLLP 2023-05-01 2024-04-30 OC440841 d:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 OC440841 d:PartnerLLP1 2023-05-01 2024-04-30 OC440841 d:PartnerLLP2 2023-05-01 2024-04-30 OC440841 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-04-30 OC440841 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-04-30 OC440841 c:FurtherSpecificReserve3ComponentTotalEquity 2024-04-30 OC440841 c:FurtherSpecificReserve3ComponentTotalEquity 2023-04-30 OC440841 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: OC440841










JAMES COWPER KRESTON AUDIT LLP










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
JAMES COWPER KRESTON AUDIT LLP
REGISTERED NUMBER: OC440841

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Current assets
  

Debtors: amounts falling due within one year
 4 
2,441,445
2,134,779

Cash at bank and in hand
 5 
83,568
103,088

  
2,525,013
2,237,867

Creditors: amounts falling due within one year
 6 
(585,897)
(1,777,517)

Net current assets
  
 
 
1,939,116
 
 
460,350

Net assets
  
1,939,116
460,350


Represented by:
  

Loans and other debts due to members within one year
  

Loans and other debts due to members
  
1,938,116
459,350

  
1,938,116
459,350

Members' other interests
  

Members' capital classified as equity
  
1,000
1,000

  
1,939,116
460,350


Total members' interests
  

Loans and other debts due to members
  
1,938,116
459,350

Members' capital classified as equity
  
1,000
1,000

  
1,939,116
460,350


The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

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.

Page 1

 
JAMES COWPER KRESTON AUDIT LLP
REGISTERED NUMBER: OC440841

BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The financial statements were approved and authorised for issue by the members and were signed on their behalf by: 



A R Peal
S R Staunton
Designated member
Designated member


Date: 23 September 2024

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

James Cowper Kreston Audit 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 2

 
JAMES COWPER KRESTON AUDIT LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

1.


General information

James Cowper Kreston Audit LLP is a limited liability partnership incorporated in England and Wales.
The partnerships registered office address is 2 Communications Road, Greenham Business Park, Greenham, Newbury, Berkshire, RG19 6AB.

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

Foreign currency translation

Functional and presentation currency

The LLP's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
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.

Page 3

 
JAMES COWPER KRESTON AUDIT LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
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

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.

 
2.7

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.

 
2.8

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.


3.


Employees

The LLP has no employees.

Page 4

 
JAMES COWPER KRESTON AUDIT LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

4.


Debtors

2024
2023
£
£

Trade debtors
1,631,892
1,861,179

Other debtors
633,567
-

Amounts recoverable on contracts
175,986
273,600

2,441,445
2,134,779



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
83,568
103,088



6.


Creditors: amounts falling due within one year

2024
2023
£
£

Other taxation and social security
225,315
199,192

Other creditors
-
1,419,634

Accruals and deferred income
360,582
158,691

585,897
1,777,517



7.


Related party transactions

On 1 January 2023, an entity related by common members, James Cowper LLP, transferred its audit business and assets to the LLP for £822,802 to enable the Group headed by James Cowper LLP to more easily comply with the various audit regulatory requirements. At the same time, the LLP entered into a service agreement with James Cowper LLP for it to provide the LLP with audit and other services.
During the year ended 30 April 2024, the LLP incurred fees relating to services provided of £7,678,524 (2023: £2,376,981) from James Cowper LLP. As at 30 April 2024, the LLP was owed £633,567 (2023: £1,878,984 owed to) from James Cowper LLP.


8.


Controlling party

The LLP is under the control of its designated members. The members do not consider there to be one ultimate controlling party. 

Page 5

 
JAMES COWPER KRESTON AUDIT LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

9.


Auditors' information

The auditors' report on the financial statements for the period ended 30 April 2024 was unqualified.

The audit report was signed on 23 September 2024 by Martin Longmore FCA (Senior statutory auditor) on behalf of Sumer Auditco Limited.

Page 6