Acorah Software Products - Accounts Production 15.0.600 false true 30 June 2023 1 July 2022 false 1 July 2023 31 March 2024 31 March 2024 OC412254 Mr Steven Davies Mr Allan McKelvie Mrs Shahina McKelvie iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC412254 2023-06-30 OC412254 2024-03-31 OC412254 2023-07-01 2024-03-31 OC412254 frs-core:CurrentFinancialInstruments 2024-03-31 OC412254 frs-core:ComputerEquipment 2024-03-31 OC412254 frs-core:ComputerEquipment 2023-07-01 2024-03-31 OC412254 frs-core:ComputerEquipment 2023-06-30 OC412254 frs-core:FurnitureFittings 2024-03-31 OC412254 frs-core:FurnitureFittings 2023-07-01 2024-03-31 OC412254 frs-core:FurnitureFittings 2023-06-30 OC412254 frs-core:MotorVehicles 2024-03-31 OC412254 frs-core:MotorVehicles 2023-07-01 2024-03-31 OC412254 frs-core:MotorVehicles 2023-06-30 OC412254 frs-bus:LimitedLiabilityPartnershipLLP 2023-07-01 2024-03-31 OC412254 frs-bus:LimitedLiabilityPartnershipsSORP 2023-07-01 2024-03-31 OC412254 frs-bus:FilletedAccounts 2023-07-01 2024-03-31 OC412254 frs-bus:SmallEntities 2023-07-01 2024-03-31 OC412254 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-03-31 OC412254 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-03-31 OC412254 frs-core:CurrentFinancialInstruments 1 2024-03-31 OC412254 frs-countries:EnglandWales 2023-07-01 2024-03-31 OC412254 frs-bus:PartnerLLP1 2023-07-01 2024-03-31 OC412254 frs-bus:PartnerLLP2 2023-07-01 2024-03-31 OC412254 frs-bus:PartnerLLP3 2023-07-01 2024-03-31 OC412254 2022-06-30 OC412254 2023-06-30 OC412254 2022-07-01 2023-06-30 OC412254 frs-core:CurrentFinancialInstruments 2023-06-30 OC412254 frs-core:CurrentFinancialInstruments 1 2023-06-30
Registered number: OC412254
McKelvie & Co LLP
Financial Statements
For the Period 1 July 2023 to 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC412254
31 March 2024 30 June 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 28,280 29,682
28,280 29,682
CURRENT ASSETS
Debtors 5 414,596 405,890
Cash at bank and in hand 22,554 52,588
437,150 458,478
Creditors: Amounts Falling Due Within One Year 6 (219,380 ) (241,231 )
NET CURRENT ASSETS (LIABILITIES) 217,770 217,247
TOTAL ASSETS LESS CURRENT LIABILITIES 246,050 246,929
NET ASSETS ATTRIBUTABLE TO MEMBERS 246,050 246,929
REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability 246,050 246,929
246,050 246,929
246,050 246,929
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 246,050 246,929
246,050 246,929
Page 1
Page 2
For the period ending 31 March 2024 the LLP 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 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Mr Steven Davies
Designated Member
Mr Allan McKelvie
Designated Member
15th October 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
McKelvie & Co LLP is a limited liability partnership, incorporated in England & Wales, registered number OC412254 . The Registered Office is 82 Wandsworth Bridge Road, London, SW6 2TF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% straight line
2.4. Pensions
The LLP operates a defined pension contribution scheme. Contributions are charged to the Profit and Loss Account as they become payable in accordance with the rules of the scheme.
2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 12)
12 12
Page 3
Page 4
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 58,780 2,795 11,141 72,716
Additions 5,750 - 2,465 8,215
Disposals (1,000 ) - - (1,000 )
As at 31 March 2024 63,530 2,795 13,606 79,931
Depreciation
As at 1 July 2023 32,348 2,150 8,536 43,034
Provided during the period 7,526 163 1,234 8,923
Disposals (306 ) - - (306 )
As at 31 March 2024 39,568 2,313 9,770 51,651
Net Book Value
As at 31 March 2024 23,962 482 3,836 28,280
As at 1 July 2023 26,432 645 2,605 29,682
5. Debtors
31 March 2024 30 June 2023
£ £
Due within one year
Trade debtors 303,529 312,110
Amounts recoverable on contracts 105,598 89,940
Prepayments and accrued income 5,469 3,840
414,596 405,890
6. Creditors: Amounts Falling Due Within One Year
31 March 2024 30 June 2023
£ £
Trade creditors 607 448
Other taxes and social security 93,811 88,088
Other creditors 4,360 243
Payments on account (Current liabilities - creditors < 1 year) 21,734 26,691
Accruals and deferred income 98,868 125,761
219,380 241,231
Page 4