Caseware UK (AP4) 2023.0.135 2023.0.135 2023-04-01falseNo description of principal activity1818falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC431272 2023-04-01 2024-03-31 OC431272 2024-03-31 OC431272 2022-04-01 2023-03-31 OC431272 2023-03-31 OC431272 c:FurnitureFittings 2023-04-01 2024-03-31 OC431272 c:FurnitureFittings 2024-03-31 OC431272 c:FurnitureFittings 2023-03-31 OC431272 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC431272 c:Goodwill 2024-03-31 OC431272 c:Goodwill 2023-03-31 OC431272 c:CurrentFinancialInstruments 2024-03-31 OC431272 c:CurrentFinancialInstruments 2023-03-31 OC431272 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC431272 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC431272 d:FRS102 2023-04-01 2024-03-31 OC431272 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC431272 d:FullAccounts 2023-04-01 2024-03-31 OC431272 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC431272 c:Goodwill c:OwnedIntangibleAssets 2023-04-01 2024-03-31 OC431272 d:PartnerLLP1 2023-04-01 2024-03-31 OC431272 d:PartnerLLP2 2023-04-01 2024-03-31 OC431272 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC431272 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC431272 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC431272 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC431272 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: OC431272













Tait Farrier Graham LLP

Financial statements
Information for filing with the registrar

31 March 2024




 
Tait Farrier Graham LLP


Balance sheet
At 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
95,922
111,477

Tangible assets
 5 
17,034
22,243

  
112,956
133,720

Current assets
  

Debtors
 6 
255,022
219,338

Cash at bank and in hand
  
107,142
67,281

  
362,164
286,619

Creditors: amounts falling due within one year
 7 
(67,043)
(82,111)

Net current assets
  
 
 
295,121
 
 
204,508

Total assets less current liabilities
  
408,077
338,228

  

Net assets
  
408,077
338,228


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 8 
253,629
183,780

  
253,629
183,780

Members' other interests
  

Members' capital classified as equity
  
154,448
154,448

  
 
154,448
 
154,448

  
408,077
338,228


Total members' interests
  

Loans and other debts due to members
 8 
253,629
183,780

Members' other interests
  
154,448
154,448

Members' surplus
  
408,077
338,228

1

 
Tait Farrier Graham LLP

    
Balance sheet (continued)
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 15 October 2024.




P Crawley
P Barron
Designated member
Designated member

LLP registered number: OC431272
The notes on pages 3 to 7 form part of these financial statements. 
2

 
Tait Farrier Graham LLP
 
 

Notes to the financial statements
Year ended 31 March 2024

1.


General information

The LLP is domiciled and registered in England and Wales. The address of the registered office is 17  Regent Terrace, Gateshead, Tyne and Wear, NE8 1LU.

2.Accounting policies

 
2.1

Statement of compliance

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

Fee income

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.
Fee income represents fees billed in the period, together with accrued revenue for services provided to clients during the period and excludes disbursements and value added tax. Income is recognised when the LLP has performed services in accordance with the agreement with the relevant clients, and has obtained a right to consideration for those services.

 
2.3

 Amounts billed to clients

Services provided to clients which at the balance sheet date have not been billed to clients and where there is a right to consideration, have been recognised as fee income. Fee income recognised in this manner is based on an assessment of the fair value of the service provided at the balance sheet date as a proportion of the total value of the engagement. Provision is made against unbilled amounts on those engagements where the right to receive payment is contingent on factors outside the control of the LLP. Unbilled revenue is included in debtors.

 
2.4

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 discretionarily. Discretionary divisions of profits are recognised as amounts due to members, although may be used to offset amounts which have been drawn by members, which are recognised as loan assets repayable.

3

 
Tait Farrier Graham LLP
 

 
Notes to the financial statements
Year ended 31 March 2024

2.Accounting policies (continued)

 
2.5

Intangible assets

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the statement of comprehensive income over its useful economic life of 10 years.

 
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:

Fixtures and fittings
-
25%

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

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.


3.


Employees

The average monthly number of employees, including paid members, during the year was 18 (2023 : 18).

4

 
Tait Farrier Graham LLP
 
 

Notes to the financial statements
Year ended 31 March 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
155,549



At 31 March 2024

155,549



Amortisation


At 1 April 2023
44,072


Charge for the year
15,555



At 31 March 2024

59,627



Net book value



At 31 March 2024
95,922



At 31 March 2023
111,477



5

 
Tait Farrier Graham LLP
 
 

Notes to the financial statements
Year ended 31 March 2024

5.


Tangible fixed assets





Fixtures and fittings

£



Cost


At 1 April 2023
40,367


Additions
433



At 31 March 2024

40,800



Depreciation


At 1 April 2023
18,124


Charge for the year
5,642



At 31 March 2024

23,766



Net book value



At 31 March 2024
17,034



At 31 March 2023
22,243

6

 
Tait Farrier Graham LLP
 
 

Notes to the financial statements
Year ended 31 March 2024

6.


Debtors

2024
2023
£
£


Trade debtors
146,717
62,778

Work in progress
91,760
110,514

Prepayments and accrued income
16,545
46,046

255,022
219,338



7.


Creditors: amounts falling due within one year

2024
2023
£
£

Other taxation and social security
33,924
22,751

Other creditors
-
30,421

Accruals and deferred income
33,119
28,939

67,043
82,111



8.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
253,629
183,780

253,629
183,780



Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

 
7