Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29true122023-03-01falseNo description of principal activity14trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC325761 2023-03-01 2024-02-29 OC325761 2022-03-01 2023-02-28 OC325761 2024-02-29 OC325761 2023-02-28 OC325761 c:Buildings c:ShortLeaseholdAssets 2023-03-01 2024-02-29 OC325761 c:Buildings c:ShortLeaseholdAssets 2024-02-29 OC325761 c:Buildings c:ShortLeaseholdAssets 2023-02-28 OC325761 c:LandBuildings 2024-02-29 OC325761 c:LandBuildings 2023-02-28 OC325761 c:FurnitureFittings 2023-03-01 2024-02-29 OC325761 c:FurnitureFittings 2024-02-29 OC325761 c:FurnitureFittings 2023-02-28 OC325761 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 OC325761 c:OfficeEquipment 2023-03-01 2024-02-29 OC325761 c:OfficeEquipment 2024-02-29 OC325761 c:OfficeEquipment 2023-02-28 OC325761 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 OC325761 c:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 OC325761 c:CurrentFinancialInstruments 2024-02-29 OC325761 c:CurrentFinancialInstruments 2023-02-28 OC325761 c:CurrentFinancialInstruments c:WithinOneYear 2024-02-29 OC325761 c:CurrentFinancialInstruments c:WithinOneYear 2023-02-28 OC325761 d:FRS102 2023-03-01 2024-02-29 OC325761 d:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 OC325761 d:FullAccounts 2023-03-01 2024-02-29 OC325761 d:LimitedLiabilityPartnershipLLP 2023-03-01 2024-02-29 OC325761 2 2023-03-01 2024-02-29 OC325761 d:PartnerLLP1 2023-03-01 2024-02-29 OC325761 d:PartnerLLP2 2023-03-01 2024-02-29 OC325761 c:FurtherSpecificReserve3ComponentTotalEquity 2024-02-29 OC325761 c:FurtherSpecificReserve3ComponentTotalEquity 2023-02-28 OC325761 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: OC325761










SALLY ADAMS PARTNERSHIP LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
SALLY ADAMS PARTNERSHIP LLP
 

INFORMATION





Designated Members

S A Bignell
A D O Powell

LLP registered number

OC325761

Registered office

Wey Court WestUnion RoadFarnhamSurreyGU9 7PT

Accountants

Shaw Gibbs LimitedWey Court WestUnion RoadFarnhamSurreyGU9 7PT


 
SALLY ADAMS PARTNERSHIP LLP
 

CONTENTS



Page
Members' report
 
1
Income statement
 
2
Statement of financial position
 
3 - 4
Reconciliation of members' interests
 
5
Notes to the financial statements
 
6 - 11


 
SALLY ADAMS PARTNERSHIP LLP
 
  
MEMBERS' REPORT
FOR THE YEAR ENDED 29 FEBRUARY 2024

The members present their annual report together with the financial statements of Sally Adams Partnership LLP (the "LLP") for the year ended 29 February 2024
 

Designated Members
 
 
S A Bignell and A D O Powell were designated members of the LLP throughout the period.
 

 
Members' capital and interests
 
 
Each member's subscription to the capital of the LLP is determined by their share of the profit and is repayable following retirement from the LLP.
 
 
Details of changes in members' capital in the ended 29 February 2024 are set out in the reconciliation of members' interests.
 
 
Members are remunerated from the profits of the LLP and are required to make their own provision for pensions and other benefits. Profits are allocated and divided between members after finalisation of the financial statements. Members draw a proportion of their profit shares monthly 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.
 

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








A D O Powell

Date: 8 November 2024
8 November 2024
Page 1

 
SALLY ADAMS PARTNERSHIP LLP
 
 
INCOME STATEMENT
FOR THE YEAR ENDED 29 FEBRUARY 2024

2024
2023
Note
£
£

  

Turnover
  
761,510
695,598

Cost of sales
  
(96,678)
(92,347)

Gross profit
  
664,832
603,251

Administrative expenses
  
(590,559)
(614,142)

Operating profit/(loss)
  
74,273
(10,891)

Interest receivable and similar income
  
1,214
109

Interest payable and similar expenses
  
-
(736)

Profit/(loss) before tax
  
75,487
(11,518)

Profit/(loss) for the year before members' remuneration and profit shares available for discretionary division among members
  
75,487
(11,518)

The notes on pages 6 to 11 form part of these financial statements.

Page 2

 
SALLY ADAMS PARTNERSHIP LLP
REGISTERED NUMBER: OC325761

STATEMENT OF FINANCIAL POSITION
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
274,130
273,549

  
274,130
273,549

Current assets
  

Debtors: amounts falling due within one year
 5 
949
1,399

Cash at bank and in hand
 6 
271,233
119,684

  
272,182
121,083

Creditors: Amounts Falling Due Within One Year
 7 
(213,576)
(172,588)

Net current assets/(liabilities)
  
 
 
58,606
 
 
(51,505)

Total assets less current liabilities
  
332,736
222,044

  

Net assets
  
332,736
222,044


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 8 
332,736
222,044

  
332,736
222,044

  

  
332,736
222,044


Total members' interests
  

Loans and other debts due to members
 8 
332,736
222,044

  
332,736
222,044


Page 3

 
SALLY ADAMS PARTNERSHIP LLP
REGISTERED NUMBER: OC325761
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 29 FEBRUARY 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 financial statements were approved and authorised for issue by the members and were signed on their behalf on 8 November 2024.




S A Bignell
A D O Powell
Designated member
Designated member

The notes on pages 6 to 11 form part of these financial statements.

Sally Adams Partnership 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 4

 
SALLY ADAMS PARTNERSHIP LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 29 FEBRUARY 2024






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

£
£
£
£
£

Loss for the year available for discretionary division among members
 
(11,518)
(11,518)
-
-
(11,518)

Members' interests after profit for the year
(11,518)
(11,518)
255,963
255,963
244,445

Movement in reserves
11,518
11,518
-
-
11,518

Amounts introduced by members
-
-
11,742
11,742
11,742

Drawings on account and distribution of profit
-
-
(45,661)
(45,661)
(45,661)

Amounts due to members
222,044
222,044

Balance at 28 February 2023
-
-
222,044
222,044
222,044

Profit for the year available for discretionary division among members
 
75,487
75,487
-
-
75,487

Members' interests after profit for the year
75,487
75,487
222,044
222,044
297,531

Movement in reserves
(75,487)
(75,487)
-
-
(75,487)

Amounts introduced by members
-
-
83,907
83,907
83,907

Drawings on account and distribution of profit
-
-
53,333
53,333
53,333

Repayment of debt
-
-
(26,548)
(26,548)
(26,548)

Amounts due to members
332,736
332,736

Balance at 29 February 2024 
-
-
332,736
332,736
332,736



Page 5

 
SALLY ADAMS PARTNERSHIP LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Sally Adams Partnership LLP is a limited liability partnership registered in England. Its registered office is:
Wey Court West, Union Road, Farnham, Surrey, GU9 7PT.

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 discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the LLP has transferred the significant risks and rewards of ownership to the buyer;
the LLP retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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

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.

Page 6

 
SALLY ADAMS PARTNERSHIP LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

S/Term Leasehold Property
-
20 years
Fixtures & fittings
-
10% straight line
Office equipment
-
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 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.

 
2.4

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.

 
2.5

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 7

 
SALLY ADAMS PARTNERSHIP LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.6

Financial instruments

The LLP 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.

 
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

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

Operating leases: the LLP 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.

 
2.10

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 statement of financial position. The assets of the plan are held separately from the LLP in independently administered funds.

 
2.11

Interest income

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


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2023 - 14).

Page 8

 
SALLY ADAMS PARTNERSHIP LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







S/Term Leasehold Property
Fixtures & fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 March 2023
176,809
115,862
9,397
302,068


Additions
20,353
1,648
2,349
24,350



At 29 February 2024

197,162
117,510
11,746
326,418



Depreciation


At 1 March 2023
8,840
12,866
6,813
28,519


Charge for the year on owned assets
9,858
12,206
1,705
23,769



At 29 February 2024

18,698
25,072
8,518
52,288



Net book value



At 29 February 2024
178,464
92,438
3,228
274,130



At 28 February 2023
167,969
102,996
2,584
273,549

Page 9

 
SALLY ADAMS PARTNERSHIP LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

           4.Tangible fixed assets (continued)




The net book value of land and buildings may be further analysed as follows:


29 February
28 February
2024
2023
£
£

Short leasehold
178,464
167,969

178,464
167,969



5.


Debtors

29 February
28 February
2024
2023
£
£


Prepayments and accrued income
949
1,399

949
1,399



6.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
271,233
119,684

271,233
119,684


Page 10

 
SALLY ADAMS PARTNERSHIP LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
12,586
17,915

Amounts owed to other participating interests
129,280
111,000

Other taxation and social security
28,734
7,127

Other creditors
6,934
1,539

Accruals and deferred income
36,042
35,007

213,576
172,588



8.


Loans and other debts due to members


29 February
28 February
2024
2023
£
£



Other amounts due to members
332,736
222,044

332,736
222,044

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

29 February
28 February
2024
2023
£
£



Falling due within one year
332,736
222,044

332,736
222,044

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

The partnership leases the trading premises from a related company.  The related entity is owned by the members of this partnership.  There is no formal lease agreement in place however the rent is charged at market rate.

 
Page 11