Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312No description of principal activitytrue2023-04-01falsetrue2The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC334961 2023-04-01 2024-03-31 OC334961 2022-04-01 2023-03-31 OC334961 2024-03-31 OC334961 2023-03-31 OC334961 c:MotorVehicles 2023-04-01 2024-03-31 OC334961 c:MotorVehicles 2024-03-31 OC334961 c:MotorVehicles 2023-03-31 OC334961 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC334961 c:CurrentFinancialInstruments 2024-03-31 OC334961 c:CurrentFinancialInstruments 2023-03-31 OC334961 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC334961 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC334961 d:FRS102 2023-04-01 2024-03-31 OC334961 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC334961 d:FullAccounts 2023-04-01 2024-03-31 OC334961 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC334961 d:PartnerLLP1 2023-04-01 2024-03-31 OC334961 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC334961 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC334961 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC334961 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC334961 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC334961 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 iso4217:GBP xbrli:pure

Registered number: OC334961










FRONTIER CAPITAL LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
FRONTIER CAPITAL LLP
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Reconciliation of Members' Interests
 
3
Notes to the Financial Statements
 
4 - 8


 
FRONTIER CAPITAL LLP
REGISTERED NUMBER: OC334961

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
332
443

  
332
443

Current assets
  

Debtors: amounts falling due within one year
 6 
1,432,437
1,438,481

Cash at bank and in hand
  
890
852

  
1,433,327
1,439,333

Creditors: Amounts Falling Due Within One Year
 7 
(3,670)
(3,170)

Net current assets
  
 
 
1,429,657
 
 
1,436,163

Total assets less current liabilities
  
1,429,989
1,436,606

  

Net assets
  
1,429,989
1,436,606


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 8 
1,434,606
1,432,248

  
1,434,606
1,432,248

Members' other interests
  

Members' capital classified as equity
  
2,000
2,000

Other reserves classified as equity

  

(6,617)
2,358

  
 
(4,617)
 
4,358

  
1,429,989
1,436,606


Total members' interests
  

Loans and other debts due to members
 8 
1,434,606
1,432,248

Members' other interests
  
(4,617)
4,358

  
1,429,989
1,436,606


Page 1

 
FRONTIER CAPITAL LLP
REGISTERED NUMBER: OC334961
    
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 profit and loss account 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: 




................................................
A J Crowther
Designated member
Date: 6 November 2024

The notes on pages 8 to 11 form part of these financial statements. 

 

Page 2

 
FRONTIER CAPITAL LLP
 

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






EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Other reserves
Total
Other amounts
Total

£
£
£
£
£

Amounts due to members 

1,445,941


Balance at 1 April 2022 
2,000
(13,693)
(11,693)
1,445,941
1,434,248

Profit for the year available for discretionary division among members
 
-
2,358
2,358
-
2,358

Members' interests after profit for the year
2,000
(11,335)
(9,335)
1,445,941
1,436,606

Other division of profits
 
-
13,693
13,693
(13,693)
-

Amounts due to members
 



1,432,248


Balance at 31 March 2023
2,000
2,358
4,358
1,432,248
1,436,606

Loss for the year available for discretionary division among members
 
-
(6,617)
(6,617)
-
(6,617)

Members' interests after profit for the year
2,000
(4,259)
(2,259)
1,432,248
1,429,989

Other division of profits
 
-
(2,358)
(2,358)
2,358
-

Amounts due to members
 



1,434,606


Balance at 31 March 2024 
2,000
(6,617)
(4,617)
1,434,606
1,429,989

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

 
FRONTIER CAPITAL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Partnership is a limited liability partnership incorporated in the United Kingdom and registered in England and Wales. The address of the registered office is 25 Oldbury Place, London, W1U 5PN.

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 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

Going concern

The members have prepared the financial statements on a going concern basis taking into account the current market position and prospects of the company and also the continued working capital support provided by the company's members and principal creditor.

 
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 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.

 
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 provided on the following basis:

Motor vehicles
-
25%
reducing balance.

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 changes since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and Loss Account.

Page 4

 
FRONTIER CAPITAL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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.

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

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 instrument is 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.
 
Page 5

 
FRONTIER CAPITAL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

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.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the LLP transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the LLP will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the LLP's contractual obligations expire or are discharged or cancelled.


3.


Employees

The entity has no employees.


4.


Information in relation to members

The average number of members during the year was 2 (2023: 2).

Page 6

 
FRONTIER CAPITAL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Motor vehicles

£



Cost 


At 1 April 2023
20,500



At 31 March 2024

20,500



Depreciation


At 1 April 2023
20,057


Charge for the year on owned assets
111



At 31 March 2024

20,168



Net book value



At 31 March 2024
332



At 31 March 2023
443


6.


Debtors

2024
2023
£
£


Other debtors
1,432,437
1,438,481



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Accruals and deferred income
3,670
3,170


Page 7

 
FRONTIER CAPITAL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
1,434,606
1,432,248



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


9.


Related party transactions

At the balance sheet date, a balance of £1,431,703 (2023: £1,438,481) was due from a company under common control. No interest is charged on this balance.

 
Page 8