Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31truefalse02023-02-09No description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false0false OC445770 2023-02-08 OC445770 2024-03-31 OC445770 2023-02-09 2024-03-31 OC445770 2022-04-01 2023-02-08 OC445770 c:OfficeEquipment 2023-02-09 2024-03-31 OC445770 c:OfficeEquipment 2024-03-31 OC445770 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-02-09 2024-03-31 OC445770 c:ComputerEquipment 2023-02-09 2024-03-31 OC445770 c:ComputerEquipment 2024-03-31 OC445770 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-02-09 2024-03-31 OC445770 c:OwnedOrFreeholdAssets 2023-02-09 2024-03-31 OC445770 c:CurrentFinancialInstruments 2024-03-31 OC445770 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC445770 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-03-31 OC445770 d:FRS102 2023-02-09 2024-03-31 OC445770 d:AuditExempt-NoAccountantsReport 2023-02-09 2024-03-31 OC445770 d:FullAccounts 2023-02-09 2024-03-31 OC445770 d:LimitedLiabilityPartnershipLLP 2023-02-09 2024-03-31 OC445770 d:PartnerLLP1 2023-02-09 2024-03-31 OC445770 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC445770 e:PoundSterling 2023-02-09 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC445770









R&S BUCKLEY LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
R&S BUCKLEY LLP
REGISTERED NUMBER: OC445770

BALANCE SHEET
AS AT 31 MARCH 2024

2024
Note
£

Fixed assets
  

Tangible assets
  
1,993

  
1,993

Current assets
  

Debtors: amounts falling due within one year
  
17,500

Cash at bank and in hand
  
30,334

  
47,834

Creditors: Amounts Falling Due Within One Year
  
(19,048)

Net current assets
  
 
 
28,786

Total assets less current liabilities
  
30,779

  

Net assets
  
30,779


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
  
30,779

  
30,779

  

  
30,779


Total members' interests
  

Loans and other debts due to members
  
30,779

  
30,779


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.

Page 1

 
R&S BUCKLEY LLP
REGISTERED NUMBER: OC445770
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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 2 July 2024.




Sabine Buckley
Designated member

The notes on pages 4 to 8 form part of these financial statements.

R&S BUCKLEY 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

 
R&S BUCKLEY LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE PERIOD ENDED 31 MARCH 2024




DEBT
Loans and other debts due to members less any amounts due from members in debtors
Other amounts
Total

£
£

Balance at 8 February 2023
-
-

At Incorporation
-
-

Other division of profits
307,019
307,019

Amounts introduced by members
240
240

Drawings on account and distribution of profit
(276,480)
(276,480)

Amounts due to members
30,779
30,779

Balance at 31 March 2024 
30,779
30,779

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 3

 
R&S BUCKLEY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

The LLP is registered in England and Wales and provides consulting services in the UK. 

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 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the LLP's accounting policies.

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

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 .

Page 4

 
R&S BUCKLEY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

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, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%
Computer equipment
-
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.

 
2.5

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.

 
2.6

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.

 
2.7

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.

 
2.8

Financial instruments

The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The LLP has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the LLP's Balance Sheet when the LLP becomes party to the contractual provisions of the instrument.

Page 5

 
R&S BUCKLEY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The LLP's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees




The entity has no employees.

Page 6

 
R&S BUCKLEY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


Additions
824
1,833
2,657



At 31 March 2024

824
1,833
2,657



Depreciation


Charge for the period on owned assets
206
458
664



At 31 March 2024

206
458
664



Net book value



At 31 March 2024
618
1,375
1,993


5.


Debtors

2024
£


Trade debtors
17,500

17,500



6.


Cash and cash equivalents

2024
£

Cash at bank and in hand
30,334

30,334


Page 7

 
R&S BUCKLEY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
£

Other taxation and social security
17,848

Accruals and deferred income
1,200

19,048



8.


Financial instruments

2024
£

Financial assets


Financial assets measured at fair value through profit or loss
30,334




Financial assets measured at fair value through profit or loss comprise cash at bank.


9.
Members Detailed Schedule 


Mr R Buckley 
Mrs S Buckley

£
£

B/f
-
 -

Profit
(153,510)
 (153,630)

Capital introduced
(120)
(120)

Capital withdrawn
138,240
 138,240

C/F
(15,390)
 (15,390)


Page 8