Caseware UK (AP4) 2023.0.135 2023.0.135 2023-04-01falseSpecialist publice realm Architecture and art1415truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC310447 2023-04-01 2024-03-31 OC310447 2022-04-01 2023-03-31 OC310447 2024-03-31 OC310447 2023-03-31 OC310447 c:FurnitureFittings 2023-04-01 2024-03-31 OC310447 c:FurnitureFittings 2024-03-31 OC310447 c:FurnitureFittings 2023-03-31 OC310447 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC310447 c:OfficeEquipment 2023-04-01 2024-03-31 OC310447 c:OfficeEquipment 2024-03-31 OC310447 c:OfficeEquipment 2023-03-31 OC310447 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC310447 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC310447 c:CurrentFinancialInstruments 2024-03-31 OC310447 c:CurrentFinancialInstruments 2023-03-31 OC310447 c:Non-currentFinancialInstruments 2024-03-31 OC310447 c:Non-currentFinancialInstruments 2023-03-31 OC310447 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC310447 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC310447 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 OC310447 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 OC310447 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-03-31 OC310447 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-03-31 OC310447 d:FRS102 2023-04-01 2024-03-31 OC310447 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC310447 d:FullAccounts 2023-04-01 2024-03-31 OC310447 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC310447 d:PartnerLLP1 2023-04-01 2024-03-31 OC310447 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC310447









MUF ARCHITECTURE / ART LLP








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

For the Year Ended 31 March 2024

 
MUF ARCHITECTURE / ART LLP
Registered number: OC310447

BALANCE SHEET
As at 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
7,347
8,183

  
7,347
8,183

Current assets
  

Stocks
  
36,000
43,000

Debtors: amounts falling due within one year
 5 
172,295
123,285

Cash at bank and in hand
 6 
1,153
32,351

  
209,448
198,636

Creditors: Amounts Falling Due Within One Year
 7 
(196,730)
(254,544)

Net current assets/(liabilities)
  
 
 
12,718
 
 
(55,908)

Total assets less current liabilities
  
20,065
(47,725)

Creditors: amounts falling due after more than one year
 8 
(37,276)
(83,274)

  

Net liabilities
  
(17,211)
(130,999)


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 10 
(17,211)
(130,999)

  

  
(17,211)
(130,999)


Total members' interests
  

Loans and other debts due by members
 10 
(17,211)
(130,999)

  
(17,211)
(130,999)


Page 1

 
MUF ARCHITECTURE / ART LLP
Registered number: OC310447
    
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 on 5 November 2024.






K M Clarke
Designated member

The notes on pages 3 to 8 form part of these financial statements.

MUF Architecture / Art 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

 
MUF ARCHITECTURE / ART LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2024

1.


General information

The company is a Limited Liability Partnership number OC310447 registered in England and & Wales. Its registered office is 30 Orange Street, London, WC2H 7HF.

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

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, value added tax.  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

Interest income

Interest income is recognised in the Statement of comprehensive income as received.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Pensions

Defined contribution pension plan

The LLP operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the LLP in independently administered funds.

Page 3

 
MUF ARCHITECTURE / ART LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2024

2.Accounting policies (continued)

  
2.6

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.

 
2.7

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:

Fixtures & fittings
-
20%
straight line
Office equipment
-
25%
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.

 
2.8

Stocks and work in progress

Stock and work in progress is valued at the lower of cost and net realisable value.

 
2.9

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.

  
2.10

Cash

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 4

 
MUF ARCHITECTURE / ART LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2024

2.Accounting policies (continued)

 
2.11

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 as received.


3.


Employees

The average monthly number of employees, including directors, during the year was 14 (2023 - 15).


4.


Tangible fixed assets





Fixtures & fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
15,510
50,431
65,941


Additions
-
1,613
1,613



At 31 March 2024

15,510
52,044
67,554



Depreciation


At 1 April 2023
15,435
42,323
57,758


Charge for the year on owned assets
19
2,430
2,449



At 31 March 2024

15,454
44,753
60,207



Net book value



At 31 March 2024
56
7,291
7,347



At 31 March 2023
75
8,108
8,183

Page 5

 
MUF ARCHITECTURE / ART LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2024

5.


Debtors

2024
2023
£
£


Trade debtors
162,315
113,305

Other debtors
9,980
9,980

172,295
123,285



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,153
32,351

Less: bank overdrafts
(17,021)
-

(15,868)
32,351



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
17,021
-

Bank loans
45,998
42,095

Other loans
6,226
-

Trade creditors
72,741
111,628

Other taxation and social security
43,478
50,806

Other creditors
7,366
5,028

Accruals and deferred income
3,900
44,987

196,730
254,544



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
37,275
83,274

37,275
83,274


Page 6

 
MUF ARCHITECTURE / ART LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
45,998
42,095

Other loans
6,226
-


Amounts falling due 2-5 years

Bank loans
37,276
83,274


89,500
125,369


The partnership has secured long term finance over 4 years which attracts interest at commercial rates and runs to 31 December 2025.  
 


10.


Loans and other debts due by members


2024
2023
£
£



Other amounts due by members
17,211
130,999

17,211
130,999

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

2024
2023
£
£



Falling due within one year
17,211
130,999

17,211
130,999

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

Page 7

 
MUF ARCHITECTURE / ART LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 March 2024

11.


Pension commitments

The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity  in an independently administered fund. The pension cost charge represents contributions payable by the entity to the fund and amounted to £11,913 (2023 - £10,111) . Contributions totalling £4,941 (2023 - £3,040) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 8