Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-12-310No description of principal activity1632023-01-01false142falsefalsefalse OC375867 2023-01-01 2023-12-31 OC375867 2022-03-01 2022-12-31 OC375867 2023-12-31 OC375867 2022-12-31 OC375867 c:PlantMachinery 2023-01-01 2023-12-31 OC375867 c:FurnitureFittings 2023-01-01 2023-12-31 OC375867 c:FurnitureFittings 2023-12-31 OC375867 c:FurnitureFittings 2022-12-31 OC375867 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 OC375867 c:ComputerSoftware 2023-12-31 OC375867 c:ComputerSoftware 2022-12-31 OC375867 c:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 OC375867 c:CurrentFinancialInstruments 2023-12-31 OC375867 c:CurrentFinancialInstruments 2022-12-31 OC375867 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 OC375867 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 OC375867 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-01-01 2023-12-31 OC375867 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-12-31 OC375867 d:FRS102 2023-01-01 2023-12-31 OC375867 d:Audited 2023-01-01 2023-12-31 OC375867 d:FullAccounts 2023-01-01 2023-12-31 OC375867 d:LimitedLiabilityPartnershipLLP 2023-01-01 2023-12-31 OC375867 c:Subsidiary1 2023-01-01 2023-12-31 OC375867 c:Subsidiary1 1 2023-01-01 2023-12-31 OC375867 c:WithinOneYear 2023-12-31 OC375867 c:WithinOneYear 2022-12-31 OC375867 c:BetweenOneFiveYears 2023-12-31 OC375867 c:BetweenOneFiveYears 2022-12-31 OC375867 d:Consolidated 2023-12-31 OC375867 d:ConsolidatedGroupCompanyAccounts 2023-01-01 2023-12-31 OC375867 c:ComputerSoftware c:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 OC375867 2 2023-01-01 2023-12-31 OC375867 4 2023-01-01 2023-12-31 OC375867 6 2023-01-01 2023-12-31 OC375867 d:PartnerLLP1 2023-01-01 2023-12-31 OC375867 d:PartnerLLP2 2023-01-01 2023-12-31 OC375867 d:PartnerLLP5 2023-01-01 2023-12-31 OC375867 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: OC375867







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


WESTONWILLIAMSON + PARTNERS LLP






































img1b14.png                        

 


WESTONWILLIAMSON+PARTNERS LLP
 



INFORMATION




Designated Members

10 Europe Limited
EGIS UK - Consulting and Engineering Ltd

LLP registered number

OC375867

Registered office

12 Valentine Place
London
SE1 8QH

Independent auditors

Menzies LLP
Chartered Accountants
Ashcombe House
5 The Crescent
Leatherhead
Surrey
KT22 8DY


 


WESTONWILLIAMSON+PARTNERS LLP
 



CONTENTS



Page
Members' report
2 - 3
Independent auditors' report
4 - 6
Consolidated statement of comprehensive income
7
Consolidated statement of financial position
8 - 9
LLP statement of financial position
10 - 11
Consolidated reconciliation of Members' interests
12
LLP reconciliation of Members' interests
Consolidated statement of cash flows
14 - 15
Notes to the financial statements
16 - 35


 


WESTONWILLIAMSON+PARTNERS LLP
 


  
MEMBERS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

The Members present their annual report together with the audited financial statements of WestonWilliamson+Partners LLP (the "LLP and the Group") for the year ended 31 December 2023
 

Principal activities
 
 
The principal activity of the LLP and the Group is to provide architectural and other related consultancy services.
 
 
Designated Members
 
 
10 Europe Limited and EGIS UK - Consulting and Engineering Ltd were designated members of the LLP and the Group throughout the year.
 

 
Members' capital and interests
 
 
Details of changes in Members' capital in the year ended 31 December 2023 are set out in the Reconciliation of Members' interests.
 
 
Members are remunerated from the profits of the LLP. Profits are allocated and divided between Members after finalisation of the financial statements. Members draw a proportion of their profit shares on an ad hoc basis during the year in which it is made, with the balance of profits being distributed after the year, subject to the cash requirements of the business.
 

Members' responsibilities statement
 
 
The Members are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
 
 
Company law, (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), requires the Members to prepare financial statements for each financial year. Under that law the Members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) the Members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and the Group and of the profit or loss of the Group for that period.

In preparing these financial statements, the Members are required to:
 
select suitable accounting policies and then apply them consistently;
 
make judgements and accounting estimates that are reasonable and prudent;
 
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
 

The Members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP and the Group's transactions and disclose with reasonable accuracy at any time the financial position of the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of the Companies Act 2006) Regulations 2008)They are also responsible for safeguarding the assets of the LLP and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
 
 
 
 
 
 
 
 
Page 2

 


WESTONWILLIAMSON+PARTNERS LLP
 


 
MEMBERS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
 
 
Disclosure of information to auditors
 
 
Each of the persons who are Members at the time when this Members' report is approved has confirmed that:

so far as that Member is aware, there is no relevant audit information of which the Group's auditors are unaware, and

that Member has taken all the steps that ought to have been taken as a Member in order to be aware of any relevant audit information and to establish that the Group's auditors are aware of that information.
 

This report was approved by the Members and signed on their behalf by: 





Claire Davies
On behalf of EGIS UK - Consulting and Engineering Ltd 
(a designated member)

Christopher Jones
 On behalf of 10 Europe Limited 
(a designated member)
Date: 8 November 2024
Date: 8 November 2024
Page 3

 


WESTONWILLIAMSON+PARTNERS LLP
 

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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WESTONWILLIAMSON+PARTNERS LLP

Opinion
 

We have audited the financial statements of WestonWilliamson+Partners LLP (the 'parent LLP') and its subsidiaries (the 'Group') for the year ended 31 December 2023, which comprise the Consolidated statement of comprehensive income, the Consolidated statement of financial position, the LLP statement of financial position, the Consolidated statement of cash flows, the Consolidated  Reconciliation of Members' interests, the LLP Reconciliation of Members' interests and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the Group's and of the parent LLP's affairs as at 31 December 2023 and of the Group's result for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006, as applied to limited liability partnerships by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
 

In auditing the financial statements, we have concluded that the Members' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent LLP's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Members with respect to going concern are described in the relevant sections of this report.

Other information
 

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The Members are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 4

 


WESTONWILLIAMSON+PARTNERS LLP


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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WESTONWILLIAMSON+PARTNERS LLP (CONTINUED)

Matters on which we are required to report by exception
 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006, as applied to limited liability partnerships, requires us to report to you if, in our opinion:

adequate accounting records have not been kept by the parent LLP, or returns adequate for our audit have not been received from branches not visited by us; or
the parent LLP financial statements are not in agreement with the accounting records and returns; or
we have not received all the information and explanations we require for our audit.

Responsibilities of members
 

As explained more fully in the Members' responsibilities statement set out on page 2, the Members are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Members determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Members are responsible for assessing the Group's and the parent LLP's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Members either intend to liquidate the Group or the parent LLP or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined that the following laws and regulations were most significant: 
 
The Companies Act 2006;
Financial Reporting Standard 102;
UK employment legislation
UK health and safety legislation;
General Data Protection Regulations; and
UK tax legislation

We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
We understood how the Company is complying with those legal and regulatory frameworks by, making inquiries to management, those responsible for legal and compliance procedures.  The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. The assessment did not identify any issues in this area.
We assessed the susceptibility of the Company financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:
 
Identifying and assessing the measures management has in place to prevent and detect fraud;
Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
Challenging assumptions and judgments made by management in its significant accounting estimates; and
Page 5

 


WESTONWILLIAMSON+PARTNERS LLP


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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WESTONWILLIAMSON+PARTNERS LLP (CONTINUED)

Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.

As a result of the above procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:
 
The application of inappropriate judgements or estimation to manipulate the financial position in the calculation of the year end provisions;
The posting of unusual journals and complex transactions; or
The use of management override of controls to manipulate results.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.  The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Use of our report
 

This report is made solely to the LLP's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, as applied by Part 12 of The Limited Liability Partnerships (Accounts and Audit) (Applications of Companies Act 2006) Regulations 2008Our audit work has been undertaken so that we might state to the LLP's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and the LLP's members, as a body, for our audit work, for this report, or for the opinions we have formed.




Caroline Milton FCA (Senior statutory auditor)
  
for and on behalf of
Menzies LLP
 
Chartered Accountants
Statutory Auditor
  
Ashcombe House
5 The Crescent
Leatherhead
Surrey
KT22 8DY

11 November 2024
Page 6

 


WESTONWILLIAMSON+PARTNERS LLP
 


 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023

12 months ended
31 December
10 months ended
31 December
2023
2022
Note
£
£

  

Turnover
 4 
28,412,769
16,912,650

Cost of sales
  
(18,571,788)
(8,978,601)

Gross profit
  
 
9,840,981
 
7,934,049

Administrative expenses
  
(6,635,993)
(5,854,238)

Exceptional administrative expenses
 13 
(1,665,229)
-

Other operating income
 5 
152,032
-

Operating profit
 6 
 
1,691,791
 
2,079,811

Interest receivable and similar income
 10 
8,037
350

Interest payable and similar expenses
 11 
(55,084)
(4,429)

Profit before tax
  
 
1,644,744
 
2,075,732

Tax on profit
 12 
(499,189)
84,369

Profit before members' remuneration and profit shares
  
 
1,145,555
 
2,160,101

Profit for the year/period before members' remuneration and profit shares
  
1,145,555
2,160,101

Members' remuneration charged as an expense
  
(738,757)
(2,388,445)

Profit/(loss) for the financial year/period available for discretionary division among members
  
 
406,798
 
(228,344)

Other comprehensive income for the year/period
  

Foreign exchange movements
  
(64,643)
73,567

Other comprehensive income for the year/period
  
(64,643)
73,567

  

Total comprehensive income for the year
  
342,155
(154,777)

Profit for the year/period attributable to:
  

Owners of the parent LLP
  
406,798
(228,344)

  
 
406,798
 
(228,344)

The notes on pages 16 to 35 form part of these financial statements.

Page 7

 


WESTONWILLIAMSON+PARTNERS LLP
REGISTERED NUMBER:OC375867



CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 14 
29,820
-

Tangible assets
 15 
395,729
454,815

  
425,549
454,815

Current assets
  

Debtors: amounts falling due within one year
 17 
7,769,901
7,709,964

Cash at bank and in hand
 23 
3,654,099
838,937

  
11,424,000
8,548,901

Creditors: Amounts Falling Due Within One Year
 19 
(4,812,780)
(4,213,088)

Net current assets
  
 
 
6,611,220
 
 
4,335,813

Total assets less current liabilities
  
7,036,769
4,790,628

Provisions for liabilities
  

Other provisions
 21 
(1,665,229)
-

  
 
 
(1,665,229)
 
 
-

Net assets attributable to members
  
5,371,540
4,790,628


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 22 
4,128,177
3,889,420

  
4,128,177
3,889,420

Members' other interests
  

Other reserves classified as equity
  
1,243,363
901,208

  
 
1,243,363
 
901,208

  
5,371,540
4,790,628


Total members' interests
  

Loans and other debts due to members
 22 
4,128,177
3,889,420

Members' other interests
  
1,243,363
901,208

  
5,371,540
4,790,628


Page 8

 


WESTONWILLIAMSON+PARTNERS LLP
REGISTERED NUMBER:OC375867


    
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements were approved and authorised for issue by the Members and were signed on their behalf by: 





Claire Davies
Christopher Jones
On behalf of EGIS UK - Consulting and Engineering Ltd
(a designated member)
On behalf of 10 Europe Limited
 (a designated member)


Date: 8 November 2024
Date:8 November 2024

The notes on  pages 16 to 35 form part of these financial statements.

WestonWilliamson+Partners 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 Consolidated statement of changes in equity.

Page 9

 


WESTONWILLIAMSON+PARTNERS LLP
REGISTERED NUMBER:OC375867



LLP STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 14 
29,820
-

Tangible assets
 15 
326,474
370,927

Investments
 16 
1,171
1,171

  
357,465
372,098

Current assets
  

Debtors: amounts falling due within one year
 17 
6,149,621
6,236,460

Cash at bank and in hand
 18 
1,602,608
329,334

  
7,752,229
6,565,794

Creditors: amounts falling due within one year
 19 
(2,938,204)
(3,048,472)

Net current assets
  
 
 
4,814,025
 
 
3,517,322

Total assets less current liabilities
  
5,171,490
3,889,420

  

Provisions for liabilities
  

Other provisions
 21 
(1,043,313)
-

  
 
 
(1,043,313)
 
 
-

  

Net assets attributable to members
  
4,128,177
3,889,420

Page 10

 


WESTONWILLIAMSON+PARTNERS LLP
REGISTERED NUMBER:OC375867


    
LLP STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£


Represented by:
  

Loans and other debts due to members within one year
 22 

Other amounts
4,128,177
3,889,420


  
4,128,177
3,889,420


Total members' interests
  

Loans and other debts due to members
 22 
4,128,177
3,889,420

  
4,128,177
3,889,420


The financial statements were approved and authorised for issue by the Members and were signed on their behalf by: 





Claire Davies
Christopher Jones
On behalf of EGIS UK - Consulting and Engineering Ltd 
(a designated member)
On behalf of 10 Europe Limited
(a designated member)
Date: 8 November 2024
Date:22 October 2024

The notes on pages 16 to 35 form part of these financial statements.

Page 11

 


WESTONWILLIAMSON+PARTNERS LLP
 



CONSOLIDATED RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 DECEMBER 2023






EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Other reserves
Total
Other amounts
Total
Total

£
£
£
£
£

Amounts due to members 

2,629,725
2,629,725


Balance at 1 March 2022 
1,055,985
1,055,985
2,629,725
2,629,725
3,685,710

Members' remuneration charged as an expense
-
-
2,388,445
2,388,445
2,388,445

Loss for the year available for discretionary division among members
 
(228,344)
(228,344)
-
-
(228,344)

Members' interests after profit for the year
827,641
827,641
5,018,170
5,018,170
5,845,811

Currency translation differences
73,567
73,567
-
-
73,567

Amounts introduced by members
-
-
1,364,540
1,364,540
1,364,540

Transfer to other creditors on retirement
 
-
-
(2,493,290)
(2,493,290)
(2,493,290)

Amounts due to members
 


3,889,420
3,889,420


Balance at 31 December 2022
901,208
901,208
3,889,420
3,889,420
4,790,628

Members' remuneration charged as an expense
-
-
738,757
738,757
738,757

Profit for the year available for discretionary division among members
 
406,798
406,798
-
-
406,798

Members' interests after profit for the year
1,308,006
1,308,006
4,628,177
4,628,177
5,936,183

Currency translation differences
(64,643)
(64,643)
-
-
(64,643)

Drawings
 
-
-
(500,000)
(500,000)
(500,000)

Amounts due to members
 


4,128,177
4,128,177


Balance at 31 December 2023 
1,243,363
1,243,363
4,128,177
4,128,177
5,371,540

Page 12

 


WESTONWILLIAMSON+PARTNERS LLP
 



LLP RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 DECEMBER 2023






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

Members' capital (classified as debt)
Other amounts
Total

£
£
£

Amounts due to members 

-
2,629,725
2,629,725

Balance at 1 March 2022 
-
2,629,725
2,629,725

Members' remuneration charged as an expense 

-
2,388,445
2,388,445

Members' interests after profit for the year 
-
5,018,170
5,018,170

Amounts introduced by members 
-
1,364,540
1,364,540

Transfer to other creditors on retirement 

-
(2,493,290)
(2,493,290)

Amounts due to members 

3,889,420
3,889,420

Balance at 31 December 2022
-
3,889,420
3,889,420

Members' remuneration charged as an expense 

-
738,757
738,757

Members' interests after profit for the year 
-
4,628,177
4,628,177

Drawings on account and distribution of profit 

-
(500,000)
(500,000)

Amounts due to members 

4,128,177
4,128,177

Balance at 31 December 2023

-
4,128,177
4,128,177

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 13

 


WESTONWILLIAMSON+PARTNERS LLP
 



CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023

2023
2022
£
£

Cash flows from operating activities

Profit/(loss) for the financial year
406,798
(228,344)

Adjustments for:

Members' remuneration charged as an expense
738,757
2,388,445

Depreciation of tangible assets
218,788
116,249

Interest payable
55,084
4,429

Interest receivable
8,037
(350)

Taxation charge
515,208
(84,369)

(Increase) in debtors
(200,750)
(2,897,513)

Increase/(decrease) in creditors
208,393
(1,221,412)

Increase in provisions
1,643,360
-

Corporation tax received
36,467
78,708

Foreign exchange on translation of subsidiary
(64,643)
73,567

Foreign exchange on opening balance of provisions
2,720
(3,032)

Foreign exchange on opening balance of fixed assets
962
470

Interest paid
(55,084)
(4,429)

Net cash generated from operating activities before transactions with members

3,514,097
(1,777,581)

Page 14

 


WESTONWILLIAMSON+PARTNERS LLP
 



CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023


2023
2022

£
£



Cash flows from investing activities

Purchase of intangible fixed assets
(29,820)
-

Purchase of tangible fixed assets
(160,664)
(387,307)

Interest received
(8,037)
350

Net cash from investing activities

(198,521)
(386,957)

Cash flows from financing activities

Amounts introduced by members
-
1,364,540

Drawings to members paid
(500,000)
-

Net cash used in financing activities
(500,000)
1,364,540

Net increase/(decrease) in cash and cash equivalents
2,815,576
(799,998)

Cash and cash equivalents at beginning of year
838,519
1,638,517

Cash and cash equivalents at the end of year
3,654,095
838,519


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
3,654,099
838,937

Bank overdrafts
(4)
(418)

3,654,095
838,519


The notes on pages 16 to 35 form part of these financial statements.

Page 15

 


WESTONWILLIAMSON+PARTNERS LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

WestonWilliamson+Partners LLP is a limited liability partnership incorporated and domiciled in England & Wales. The LLP's registered office and principal trading address is 12 Valentine Place, London, SE1 8QH.
The prior period was shortened to 10 months to align to the reporting period of the Group which acquired the LLP on 1 March 2022. As such the periods are not comparable in length.

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 Group management to exercise judgement in applying the Group's accounting policies (see note 3).

The LLP has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the LLP and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.

  
2.3

Financial reporting standard 102 - reduced disclosure exemptions

The parent LLP satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following reduced disclosures available under FRS 102:
(a) No cash flow statement has been presented for the LLP
(b) Disclosures in respect of financial instruments have not been presented
(c) No disclosure has been given for the aggregate remuneration of key management personnel.

Page 16

 


WESTONWILLIAMSON+PARTNERS LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The LLP's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

 
2.5

Revenue

Revenue represents amounts receivable for architectural and design consultancy services, net of VAT. 
Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty by including in the profit and loss account turnover and related costs as contract activity progresses. Revenue is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.

 
2.6

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Borrowing costs

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

Page 17

 


WESTONWILLIAMSON+PARTNERS LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group 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 Statement of financial position. The assets of the plan are held separately from the Group in independently administered funds.

 
2.11

Taxation for corporate subsidiaries

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the LLP and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

In accordance with the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' no taxation is required to be disclosed for the LLP. Tax is borne by the individual members on their attributable profit share and not the LLP.

Page 18

 


WESTONWILLIAMSON+PARTNERS LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.12

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement.
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the Profit and Loss Account in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the Balance Sheet.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the Statement of comprehensive income and are equity appropriations in the Statetement of financial position.
All amounts due to members that are classified as liabilities are presented in the Statement of financial position within 'Loans and other debts due to members' and are charged to the Statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of financial position within 'Members' other interests'.
A member’s share in the LLP’s profit for the year is determined at the start of the year and is therefore included as Members’ remuneration charged as an expense. Any remaining profit recognised for discretionary division is allocated to members in the following period.
The amounts paid to the members’ under the terms of the LLP agreement comprise Members’ remuneration charged as an expense, together with the other division of profits in the year.
Members drawings are classified as financing activities within the Statement of Cash Flows, because they
represent costs of obtaining financial resources or claims on cash flows by the providers of capital to the parent
LLP.

 
2.13

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Group but are presented separately due to their size or incidence.

Page 19

 


WESTONWILLIAMSON+PARTNERS LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.14

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Website development
-
3 years  

 
2.15

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 - 4 years
Fixtures and fittings
-
3 - 4 years

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.

 
2.16

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.17

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.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

Page 20

 


WESTONWILLIAMSON+PARTNERS LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.18

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.19

Financial instruments

The Group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. 


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The key estimates and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year are as follows:
Long term contracts
Management use estimation to calculate the progress of a contract and the estimated costs to completion in order to recognise the correct revenues and cost of sale within the financial statements.


4.


Turnover

The whole of the turnover is attributable to the provision of architectural and other related consultancy services.

Analysis of turnover by country of destination:

12 months ended
31 December
10 months ended
31 December
2023
2022
£
£

United Kingdom
13,240,392
10,100,365

Rest of Europe
39,884
79,057

Rest of the world
15,132,493
6,733,228

28,412,769
16,912,650


Page 21

 


WESTONWILLIAMSON+PARTNERS LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Other operating income

12 months ended
31 December
10 months ended
31 December
2023
2022
£
£

Other operating income
152,032
-

152,032
-



6.


Operating profit/(loss)

The operating profit/(loss) is stated after charging:

12 months ended
31 December
10 months ended
31 December
2023
2022
£
£

Depreciation
218,788
116,249

Exchange differences
90,784
27,868

Other operating lease rentals
665,931
465,125


7.


Auditors' remuneration

12 months ended
31 December
10 months ended
31 December
2023
2022
£
£

Fees payable to the LLP's auditors for the audit of the consolidated and parent LLP's financial statements
49,300
39,500

Page 22

 


WESTONWILLIAMSON+PARTNERS LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Employees

Staff costs were as follows:


Group
Group
LLP
LLP
2023
2022
2023
2022
£
£
£
£


Wages and salaries
12,174,403
7,624,776
8,657,636
5,391,732

Social security costs
1,131,343
649,403
941,473
542,393

Cost of defined contribution scheme
620,171
300,331
359,562
272,376

13,925,917
8,574,510
9,958,671
6,206,501


Included within staff costs above is an amount of £1,665,229 which relates to an exceptional bonus provision as detailed in Note 13 to these financial statements.

The average monthly number of persons employed during the year was as follows:



Group
Group
LLP
LLP
  12 months ended
     31 December
   10 months ended
      31 December
  12 months ended
     31 December
   10 months ended
      31 December
        2023
        2022
        2023
        2022
            No.
            No.
            No.
            No.









Technical
169
156
131
121



Support
36
22
32
21

205
178
163
142


9.


Information in relation to members

2023
2022
Number
Number


The average number of members during the year was
2
2

2023
2022
£
£







The amount of profit attributable to the member with the largest entitlement was
738,757
2,388,445


Page 23

 


WESTONWILLIAMSON+PARTNERS LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Interest receivable

12 months ended
31 December
10 months ended
31 December
2023
2022
£
£


Other interest receivable
8,037
350

8,037
350


11.


Interest payable and similar expenses

12 months ended
31 December
10 months ended
31 December
2023
2022
£
£


Other loan interest payable
503
4,429

Loans from group undertakings
54,581
-

55,084
4,429

Page 24

 


WESTONWILLIAMSON+PARTNERS LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Taxation on ordinary activities in corporate subsidiaries


12 months ended
31 December
10 months ended
31 December
2023
2022
£
£

Corporation tax


Current tax on profits for the year
1,573
-

Adjustments in respect of previous periods
14,792
-


16,365
-

Foreign tax


Foreign tax on income for the year
519,235
(103,664)

519,235
(103,664)

Total current tax
535,600
(103,664)

Deferred tax


Origination and reversal of timing differences
(36,411)
19,295

Total deferred tax
(36,411)
19,295


Taxation on profit/(loss) on ordinary activities
499,189
(84,369)
Page 25

 


WESTONWILLIAMSON+PARTNERS LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
12.Taxation on ordinary activities in corporate subsidiaries (continued)


Factors affecting tax charge for the year/period

The tax assessed for the year/period is lower than (2022 - lower than) the standard rate of corporation tax in the UK of 23.52% (2022 - 19%). The differences are explained below:

12 months ended
31 December
10 months ended
31 December
2023
2022
£
£


Profit/(loss) on ordinary activities before tax
1,417,155
(310,784)


Profit/(loss) on ordinary activities multiplied by standard rate of corporation tax in the UK of 23.52% (2022 - 19%)
333,315
(59,049)

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
12,251
36

Capital allowances for year/period in excess of depreciation
(5,044)
(5,103)

Different rate of taxes on overseas earnings
158,148
(35,426)

Adjustments to tax charge in respect of prior periods
1,708
-

Changes in provisions leading to an increase (decrease) in the tax charge
35,308
2,939

Other differences leading to an increase (decrease) in the tax charge
(35,919)
12,234

Marginal relief
(578)
-

Total tax charge for the year/period
499,189
(84,369)


Factors that may affect future tax charges

On 11 July 2023, the UK Finance (no. 2) Act 2023, enacted the Pillar Two income taxes legislation effective from 1 January 2023. Under the legislation, The Egis Group will be required to pay, in the United Kingdom, top-up tax on profits of its subsidiaries located in territories outside the United Kingdom that are taxed at an effective rate of less than 15 per cent. 
The Egis Group has not yet assessed any potential impact on the future tax charge. 

Page 26

 


WESTONWILLIAMSON+PARTNERS LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

13.


Exceptional items

12 months ended
31 December
10 months ended
31 December
2023
2022
£
£


Bonus provision
1,665,229
-

1,665,229
-

Following the acquisition of WestonWilliamson + Partners LLP by Egis Group in 2022, the Group implemented a bonus scheme to encourage the retention of certain key staff and contractors. The bonus is calculated based on the profitability of the business between 1 January 2023 and 31 December 2024 and is payable to certain key employees and contractors who have remained employed/workers throughout the calculation period and are still employed/working for the business at the time the bonus is paid and have met agreed performance criteria.  The bonus will be settled during the year ended 31 December 2025.   


14.


Intangible assets

Group





Website Development

£



Cost


Additions
29,820



At 31 December 2023

29,820






Net book value



At 31 December 2023
29,820



At 31 December 2022
-



Page 27

 


WESTONWILLIAMSON+PARTNERS LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
           14.Intangible assets (continued)

LLP




Website Development

£



Cost


Additions
29,820



At 31 December 2023

29,820






Net book value



At 31 December 2023
29,820



At 31 December 2022
-

Page 28

 


WESTONWILLIAMSON+PARTNERS LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

15.


Tangible fixed assets

Group






Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 January 2023
148,432
1,006,887
1,155,319


Additions
-
160,664
160,664


Exchange adjustments
(7,468)
(395)
(7,863)



At 31 December 2023

140,964
1,167,156
1,308,120



Depreciation


At 1 January 2023
70,395
630,109
700,504


Charge for the year on owned assets
17,302
201,486
218,788


Exchange adjustments
(6,695)
(206)
(6,901)



At 31 December 2023

81,002
831,389
912,391



Net book value



At 31 December 2023
59,962
335,767
395,729



At 31 December 2022
78,037
376,778
454,815

Page 29

 


WESTONWILLIAMSON+PARTNERS LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

           15.Tangible fixed assets (continued)


LLP






Fixtures and fittings

£

Cost or valuation


At 1 January 2023
994,870


Additions
152,410



At 31 December 2023

1,147,280



Depreciation


At 1 January 2023
623,943


Charge for the year on owned assets
196,863



At 31 December 2023

820,806



Net book value



At 31 December 2023
326,474



At 31 December 2022
370,927







16.


Fixed asset investments

LLP





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
1,171



At 31 December 2023
1,171




Page 30

 


WESTONWILLIAMSON+PARTNERS LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

Direct subsidiary undertaking


The following was a direct subsidiary undertaking of the LLP:

Name

Registered office

Class of shares

Holding

WestonWilliamson Limited
12 Valentine Place, London, SE1 8QH
Ordinary
100%

The above company has branches in Canada and Ireland.


Indirect subsidiary undertaking


The following was an indirect subsidiary undertaking of the LLP:

Name

Registered office

Class of shares

Holding

WestonWilliamson&Partners Pty Ltd
Suite 4 Level 1,  2-12 Foveaux Street, Surrey Hills, NSW 2010, Australia
Ordinary
100%


17.


Debtors

Group
Group
LLP
LLP
2023
2022
2023
2022
£
£
£
£


Trade debtors
1,793,903
3,157,550
1,531,352
2,493,810

Amounts owed by group undertakings
515,207
152,489
1,473,825
836,093

Other debtors
74,094
306,931
46,484
118,715

Prepayments and accrued income
393,723
318,021
339,528
318,021

Amounts recoverable on long term contracts
4,904,083
3,719,773
2,758,432
2,469,821

Deferred taxation
88,891
55,200
-
-

7,769,901
7,709,964
6,149,621
6,236,460



18.


Cash and cash equivalents

Group
Group
LLP
LLP
2023
2022
2023
2022
£
£
£
£

Cash at bank and in hand
3,654,099
838,937
1,602,608
329,334

Less: bank overdrafts
(4)
(418)
(4)
(22)

3,654,095
838,519
1,602,604
329,312


Page 31

 


WESTONWILLIAMSON+PARTNERS LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

19.


Creditors: Amounts falling due within one year

Group
Group
LLP
LLP
2023
2022
2023
2022
£
£
£
£

Bank overdrafts
4
418
4
22

Payments received on account
13,172
158,986
13,172
158,986

Trade creditors
543,770
1,265,741
433,414
780,139

Amounts owed to group undertakings
1,196,147
83,008
939,760
99,917

Corporation tax
436,979
45,266
-
-

Other taxation and social security
309,755
890,931
84,165
701,738

Other creditors
795,242
681,986
261,439
515,026

Accruals and deferred income
1,517,711
1,086,752
1,206,250
792,644

4,812,780
4,213,088
2,938,204
3,048,472


Included within other creditors is the amount of £Nil (2022: £451,619) owing to former partners.
Included within other creditors is £102,033 (2022: £110,546) in relation to unpaid pension contributions.
The LLP has entered into a debenture agreement with Lloyds bank, that is secured by fixed and floating charges over all current and future property and assets.


20.


Deferred taxation


Group



2023


£






At beginning of year
55,200


Charged to profit or loss
36,411


Foreign exchange differences
(2,720)



At end of year
88,891

The LLP had no deferred tax. 

Page 32

 


WESTONWILLIAMSON+PARTNERS LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
20.Deferred taxation (continued)







Group
Group
2023
2022
£
£

Other timing differences
68,624
55,200

Fixed asset timing differences
(2,323)
-

Short term timing differences
22,590
-

88,891
55,200


21.


Provisions


Group



Bonus provision

£





Charged to profit or loss
1,665,229



At 31 December 2023
1,665,229

Page 33

 


WESTONWILLIAMSON+PARTNERS LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

           21.Provisions (continued)

LLP


Bonus provision
Total

£
£





Charged to profit or loss
1,043,313
1,043,313



At 31 December 2023
1,043,313
1,043,313


22.


Loans and other debts due to members


Group
Group
LLP
LLP
2023
2022
2023
2022
£
£
£
£


Other amounts due to members
4,128,177
3,889,420
4,128,177
3,889,420

4,128,177
3,889,420
4,128,177
3,889,420


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

Group
Group
LLP
LLP
2023
2022
2023
2022
£
£
£
£


Falling due within one year
4,128,177
3,889,420
4,128,177
3,889,420

4,128,177
3,889,420
4,128,177
3,889,420

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

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WESTONWILLIAMSON+PARTNERS LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

23.


Analysis of net debt (Group)





At 1 January 2023
Arising from cash flows
Other non-cash changes
At 31 December 2023
£

£

£

£

Cash at bank and in hand

838,937

2,815,162

-

3,654,099

Bank overdrafts

(418)

414

-

(4)

Borrowings due within 1 year

-

-

-

-

Net debt (before members' debt)
838,519
2,815,576
-
3,654,095

Loans and other debts due to members





Other amounts due to members
(3,889,420)

500,000

(1,905,166)

(5,294,586)

Net debt


(3,050,901)
3,315,576
(1,905,166)
(1,640,491)


24.


Commitments under operating leases

At 31 December 2023 the Group and the LLP had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
LLP
LLP
2023
2022
2023
2022
£
£
£
£

Not later than 1 year
604,768
328,431
576,283
246,180

Later than 1 year and not later than 5 years
541,341
230,167
541,341
228,344

1,146,109
558,598
1,117,624
474,524

 
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