Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseConsultancy services relating to property transactions33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC399370 2023-04-01 2024-03-31 OC399370 2022-04-01 2023-03-31 OC399370 2024-03-31 OC399370 2023-03-31 OC399370 c:MotorVehicles 2023-04-01 2024-03-31 OC399370 c:MotorVehicles 2024-03-31 OC399370 c:MotorVehicles 2023-03-31 OC399370 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC399370 c:MotorVehicles c:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 OC399370 c:FurnitureFittings 2023-04-01 2024-03-31 OC399370 c:FurnitureFittings 2024-03-31 OC399370 c:FurnitureFittings 2023-03-31 OC399370 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC399370 c:FurnitureFittings c:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 OC399370 c:ComputerEquipment 2023-04-01 2024-03-31 OC399370 c:ComputerEquipment 2024-03-31 OC399370 c:ComputerEquipment 2023-03-31 OC399370 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC399370 c:ComputerEquipment c:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 OC399370 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC399370 c:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 OC399370 c:CurrentFinancialInstruments 2024-03-31 OC399370 c:CurrentFinancialInstruments 2023-03-31 OC399370 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC399370 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC399370 d:FRS102 2023-04-01 2024-03-31 OC399370 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC399370 d:FullAccounts 2023-04-01 2024-03-31 OC399370 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC399370 2 2023-04-01 2024-03-31 OC399370 d:PartnerLLP1 2023-04-01 2024-03-31 OC399370 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC399370 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC399370 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC399370










LONDON & ORIENTAL LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
LONDON & ORIENTAL LLP
REGISTERED NUMBER: OC399370

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
39,680
43,376

  
39,680
43,376

Current assets
  

Debtors: amounts falling due within one year
 5 
140,529
148,468

Cash at bank and in hand
  
496,666
317,618

  
637,195
466,086

Creditors: Amounts Falling Due Within One Year
 6 
(53,528)
(50,466)

Net current assets
  
 
 
583,667
 
 
415,620

Total assets less current liabilities
  
623,347
458,996

  

Net assets
  
623,347
458,996


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 7 
623,347
458,996

  
623,347
458,996

  

  
623,347
458,996


Total members' interests
  

Loans and other debts due to members
 7 
623,347
458,996

  
623,347
458,996

Page 1

 
LONDON & ORIENTAL LLP
REGISTERED NUMBER: OC399370
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

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




M J D Cannell
Designated member
Date: 27 November 2024

The notes on pages 4 to 10 form part of these financial statements.

London & Oriental LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.
Page 2

 
LONDON & ORIENTAL 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
Other reserves
Total
Other amounts
Total
Total

£
£
£
£
£

Profit for the year available for discretionary division among members
 
831,925
831,925
-
-
831,925

Members' interests after profit for the year
831,925
831,925
533,281
533,281
1,365,206

Other division of profits
(831,925)
(831,925)
831,925
831,925
-

Drawings on account and distribution of profit
-
-
(906,209)
(906,209)
(906,209)

Amounts due to members
458,996
458,996

Balance at 31 March 2023
-
-
458,996
458,996
458,996

Profit for the year available for discretionary division among members
 
828,761
828,761
-
-
828,761

Members' interests after profit for the year
828,761
828,761
458,996
458,996
1,287,757

Other division of profits
(828,761)
(828,761)
828,761
828,761
-

Drawings on account and distribution of profit
-
-
(664,410)
(664,410)
(664,410)

Amounts due to members
623,347
623,347

Balance at 31 March 2024 
-
-
623,347
623,347
623,347

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

 
LONDON & ORIENTAL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

London & Oriental LLP is a limited liability partnership incorporated in England and Wales, registration
number OC399370. The registered office address is 14th Floor, 33 Cavendish Square, London, W1G
0PW.

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

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:

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

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.

Page 4

 
LONDON & ORIENTAL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.5

Interest income

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

 
2.6

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.

 
2.7

Pensions

Defined contribution pension plan

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

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

 
2.8

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 automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .

 
2.9

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 5

 
LONDON & ORIENTAL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

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:

Motor vehicles
-
25%
Fixtures and fittings
-
20-25%
Computer equipment
-
10%

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.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.11

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.

 
2.12

Creditors

Short-term creditors are measured at the transaction price.
Page 6

 
LONDON & ORIENTAL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.13

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 within 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 instruments 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.

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.
Page 7

 
LONDON & ORIENTAL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)


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 average monthly number of employees, including members, during the year was 3 (2023 - 3).

Page 8

 
LONDON & ORIENTAL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost


At 1 April 2023
48,806
26,348
32,528
107,682


Additions
-
-
4,621
4,621


Disposals
-
(4,223)
(24,284)
(28,507)



At 31 March 2024

48,806
22,125
12,865
83,796



Depreciation


At 1 April 2023
13,467
23,156
27,683
64,306


Charge for the year on owned assets
164
1,674
2,098
3,936


Charge for the year on financed assets
3,498
-
-
3,498


Disposals
-
(4,223)
(23,401)
(27,624)



At 31 March 2024

17,129
20,607
6,380
44,116



Net book value



At 31 March 2024
31,677
1,518
6,485
39,680



At 31 March 2023
35,339
3,192
4,845
43,376


5.


Debtors

2024
2023
£
£


Trade debtors
128,110
129,730

Other debtors
-
3,353

Prepayments and accrued income
12,419
15,385

140,529
148,468


Page 9

 
LONDON & ORIENTAL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
2,812
1,211

Other taxation and social security
40,953
36,002

Obligations under finance lease and hire purchase contracts
-
5,498

Other creditors
629
1,740

Accruals and deferred income
9,134
6,015

53,528
50,466



7.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
623,347
458,996

623,347
458,996


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


8.


Pension commitments

The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity  in an independently administered fund. The pension cost charge represents contributions payable by the entity  to the fund and amounted to £2,201 (2023 - £1,300) . Contributions totalling £367 (2023 - £367) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 10