Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseMarketing Consultancy22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC417845 2023-04-01 2024-03-31 OC417845 2024-03-31 OC417845 2022-04-01 2023-03-31 OC417845 2023-03-31 OC417845 c:PlantMachinery 2023-04-01 2024-03-31 OC417845 c:PlantMachinery 2024-03-31 OC417845 c:PlantMachinery 2023-03-31 OC417845 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC417845 c:ComputerEquipment 2023-04-01 2024-03-31 OC417845 c:ComputerEquipment 2024-03-31 OC417845 c:ComputerEquipment 2023-03-31 OC417845 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC417845 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC417845 c:CurrentFinancialInstruments 2024-03-31 OC417845 c:CurrentFinancialInstruments 2023-03-31 OC417845 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC417845 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC417845 d:FRS102 2023-04-01 2024-03-31 OC417845 d:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 OC417845 d:FullAccounts 2023-04-01 2024-03-31 OC417845 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC417845 d:PartnerLLP1 2023-04-01 2024-03-31 OC417845 d:PartnerLLP2 2023-04-01 2024-03-31 OC417845 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC417845 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC417845 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC417845 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC417845 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: OC417845


SOUTH ROSE LLP








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
SOUTH ROSE LLP
 
 
  
REPORT TO THE MEMBERS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SOUTH ROSE LLP
FOR THE PERIOD ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), we have prepared for your approval the financial statements of South Rose LLP for the period ended 31 March 2024 which comprise  the Balance sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountantswe are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html.

This report is made solely to the members in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of South Rose LLP and state those matters that we have agreed to state to the South Rose LLP's members in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal .com/content/dam/ACCA_Global /Technical /fact/technical-factsheet -163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than South Rose LLP and its members for our work or for this report. 

It is your duty to ensure that South Rose LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of South Rose LLP. You consider that South Rose LLP is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of South Rose LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Wellers
Accountants
8 King Edward Street
Oxford
OX1 4HL
6 November 2024
Page 1

 
SOUTH ROSE LLP
REGISTERED NUMBER: OC417845

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,119
5,458

  
4,119
5,458

Current assets
  

Debtors: amounts falling due within one year
 5 
2,106
4,768

Cash at bank and in hand
 6 
23,741
6,804

  
25,847
11,572

Creditors: Amounts Falling Due Within One Year
 7 
(3,931)
(4,645)

Net current assets
  
 
 
21,916
 
 
6,927

Total assets less current liabilities
  
26,035
12,385

  

Net assets
  
26,035
12,385


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 8 
25,735
12,085

  
25,735
12,085

Members' other interests
  

Members' capital classified as equity
  
300
300

  
 
300
 
300

  
26,035
12,385


Total members' interests
  

Loans and other debts due to members
 8 
25,735
12,085

Members' other interests
  
300
300

  
26,035
12,385


Page 2

 
SOUTH ROSE LLP
REGISTERED NUMBER: OC417845
    
BALANCE SHEET (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: 




Mr Thomas Roberts
Mrs Emily Roberts
Designated member
Designated member


Date: 6 November 2024

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

Page 3

 
SOUTH ROSE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

South Rose LLP is a limited liability partnership registered in England and Wales.
The partnership's registered office address is 8 King Edward Street, Oxford, OX1 4HL.
The partnership's registered number is OC417845.

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 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.

Page 4

 
SOUTH ROSE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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 .

 
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:

Plant and machinery
-
3 year straight-line
Computer equipment
-
3 year straight-line

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.

Page 5

 
SOUTH ROSE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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.


3.


Employees




The average monthly number of employees, including directors, during the period was 2 (2023 - 2).


4.


Tangible fixed assets





Plant and machinery
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
5,437
7,941
13,378


Additions
-
916
916


Disposals
(5,437)
(1,176)
(6,613)



At 31 March 2024

-
7,681
7,681



Depreciation


At 1 April 2023
5,437
2,483
7,920


Charge for the period on owned assets
-
2,255
2,255


Disposals
(5,437)
(1,176)
(6,613)



At 31 March 2024

-
3,562
3,562



Net book value



At 31 March 2024
-
4,119
4,119

Page 6

 
SOUTH ROSE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
1,014
2,919

Other debtors
1,092
1,849

2,106
4,768



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
23,741
6,804

23,741
6,804



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
2,281
2,995

Accruals and deferred income
1,650
1,650

3,931
4,645


Page 7

 
SOUTH ROSE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

8.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
25,735
12,085

25,735
12,085

Loans and other debts due to members may be further analysed as follows:

2024
2023
£
£



Falling due within one year
25,735
12,085

25,735
12,085

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

 
Page 8