Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-01-01No description of principal activity11truetruefalse OC392959 2023-01-01 2024-03-31 OC392959 2022-01-01 2022-12-31 OC392959 2024-03-31 OC392959 2022-12-31 OC392959 c:MotorVehicles 2023-01-01 2024-03-31 OC392959 c:MotorVehicles 2024-03-31 OC392959 c:MotorVehicles 2022-12-31 OC392959 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-01-01 2024-03-31 OC392959 c:OfficeEquipment 2023-01-01 2024-03-31 OC392959 c:OfficeEquipment 2024-03-31 OC392959 c:OfficeEquipment 2022-12-31 OC392959 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-01-01 2024-03-31 OC392959 c:OwnedOrFreeholdAssets 2023-01-01 2024-03-31 OC392959 c:CurrentFinancialInstruments 2024-03-31 OC392959 c:CurrentFinancialInstruments 2022-12-31 OC392959 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC392959 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 OC392959 d:FRS102 2023-01-01 2024-03-31 OC392959 d:AuditExempt-NoAccountantsReport 2023-01-01 2024-03-31 OC392959 d:FullAccounts 2023-01-01 2024-03-31 OC392959 d:LimitedLiabilityPartnershipLLP 2023-01-01 2024-03-31 OC392959 d:PartnerLLP1 2023-01-01 2024-03-31 OC392959 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC392959 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-12-31 OC392959 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC392959 c:FurtherSpecificReserve2ComponentTotalEquity 2022-12-31 OC392959 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC392959 c:FurtherSpecificReserve3ComponentTotalEquity 2022-12-31 OC392959 e:PoundSterling 2023-01-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC392959










CHEMSPEC ADVISORY LLP








UNAUDITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
CHEMSPEC ADVISORY LLP
REGISTERED NUMBER: OC392959

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

31 March
31 December
2024
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
71,547
47,893

  
71,547
47,893

Current assets
  

Debtors: amounts falling due within one year
 5 
51,951
37,968

Cash at bank and in hand
  
67,959
221,077

  
119,910
259,045

Creditors: Amounts Falling Due Within One Year
 6 
(64,493)
(44,926)

Net current assets
  
 
 
55,417
 
 
214,119

Total assets less current liabilities
  
126,964
262,012

  

Net assets
  
126,964
262,012


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 7 
(13,385)
115,696

  
(13,385)
115,696

Members' other interests
  

Members' capital classified as equity
  
5,000
5,000

Other reserves classified as equity
  
135,349
141,316

  
 
140,349
 
146,316

  
126,964
262,012


Total members' interests
  

Loans and other debts due to members
 7 
(13,385)
115,696

Members' other interests
  
140,349
146,316

  
126,964
262,012


Page 1

 
CHEMSPEC ADVISORY LLP
REGISTERED NUMBER: OC392959
    
STATEMENT OF FINANCIAL POSITION (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 income statement 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 P Buck
Designated member

Date: 12 November 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
CHEMSPEC ADVISORY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Chemspec Advisory LLP is a limited liability partnership, incorporated in England, registration number OC392959. The registered office is 11 George Edwards Road, Fakenham, Norfolk, NR21 8NL.

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 financial statements are presented in sterling which is the functional currency of the LLP and rounded to the nearest £. 
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover can be measured reliably;
it is probable that the LLP will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
CHEMSPEC ADVISORY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits both automatically and discretionarily. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in the Income Statement. 

Profits of the LLP which are not yet divided among the members are shown under 'Other reserves' on the Statement of financial position, pending a discretionary decision to divide the profits.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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

Depreciation is provided on the following basis:

Motor vehicles
-
25% reducing balance
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.


3.


Employees

There were no employees in the current or prior year.

Page 4

 
CHEMSPEC ADVISORY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Tangible fixed assets







Motor vehicles
Office equipment
Total

£
£
£



Cost 


At 1 January 2023
79,655
3,458
83,113


Additions
88,205
-
88,205


Disposals
(63,000)
-
(63,000)



At 31 March 2024

104,860
3,458
108,318



Depreciation


At 1 January 2023
34,492
728
35,220


Charge for the period on owned assets
31,668
852
32,520


Disposals
(30,969)
-
(30,969)



At 31 March 2024

35,191
1,580
36,771



Net book value



At 31 March 2024
69,669
1,878
71,547



At 31 December 2022
45,163
2,730
47,893


5.


Debtors

31 March
31 December
2024
2022
£
£


Trade debtors
48,493
37,968

Prepayments and accrued income
3,458
-

51,951
37,968


Page 5

 
CHEMSPEC ADVISORY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

31 March
31 December
2024
2022
£
£

Trade creditors
37,621
38,673

Other taxation and social security
22,342
2,833

Accruals and deferred income
4,530
3,420

64,493
44,926



7.


Loans and other debts due to members


31 March
31 December
2024
2022
£
£



Other amounts due to members
(13,385)
115,696

(13,385)
115,696

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

31 March
31 December
2024
2022
£
£



Falling due within one year
(13,385)
115,696

(13,385)
115,696

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

 
Page 6