Caseware UK (AP4) 2023.0.135 2023.0.135 2023-04-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseNo description of principal activity1614truetruefalse OC398641 2023-04-01 2024-03-31 OC398641 2022-04-01 2023-03-31 OC398641 2024-03-31 OC398641 2023-03-31 OC398641 c:Buildings c:ShortLeaseholdAssets 2023-04-01 2024-03-31 OC398641 c:Buildings c:ShortLeaseholdAssets 2024-03-31 OC398641 c:Buildings c:ShortLeaseholdAssets 2023-03-31 OC398641 c:FurnitureFittings 2023-04-01 2024-03-31 OC398641 c:FurnitureFittings 2024-03-31 OC398641 c:FurnitureFittings 2023-03-31 OC398641 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC398641 c:ComputerEquipment 2023-04-01 2024-03-31 OC398641 c:ComputerEquipment 2024-03-31 OC398641 c:ComputerEquipment 2023-03-31 OC398641 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC398641 c:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 OC398641 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC398641 c:CurrentFinancialInstruments 2024-03-31 OC398641 c:CurrentFinancialInstruments 2023-03-31 OC398641 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC398641 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC398641 d:FRS102 2023-04-01 2024-03-31 OC398641 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC398641 d:FullAccounts 2023-04-01 2024-03-31 OC398641 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC398641 2 2023-04-01 2024-03-31 OC398641 6 2023-04-01 2024-03-31 OC398641 d:PartnerLLP3 2023-04-01 2024-03-31 OC398641 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC398641 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC398641 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC398641 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC398641 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure


















Arc Pensions Law LLP























Unaudited

Financial statements



For the year ended 31 March 2024



Registered number: OC398641

 
Arc Pensions Law LLP - Registered number:OC398641



Statement of financial position
as at 31 March 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Tangible fixed assets
 4 
30,875
36,555

Investments
 5 
100
100

  
30,975
36,655

Current assets
  

Debtors: amounts falling due within one year
 6 
3,042,647
2,066,929

Bank and cash balances
  
4
777,041

  
3,042,651
2,843,970

Creditors: amounts falling due within one year
 7 
(632,091)
(596,290)

Net current assets
  
 
 
2,410,560
 
 
2,247,680

Total assets less current liabilities
  
2,441,535
2,284,335

  

Net assets
  
2,441,535
2,284,335


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 8 
1,684,569
1,583,859

  
1,684,569
1,583,859

Members' other interests
  

Members' capital classified as equity
  
756,966
700,476

  
 
756,966
 
700,476

  
2,441,535
2,284,335


Total members' interests
  

Loans and other debts due to members
 8 
1,684,569
1,583,859

Members' other interests
  
756,966
700,476

  
2,441,535
2,284,335


Page 1

 
Arc Pensions Law LLP - Registered number:OC398641



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 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: 




................................................
E Payne
Designated member

Date: 27 November 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
Arc Pensions Law LLP
 
 

Notes to the financial statements
for the year ended 31 March 2024

1.


General information

ARC Pensions Law LLP is a limited liability partnership incorporated in England & Wales. The LLP's registered office and principal place of business is 100 Liverpool Street, London, EC2M 2AT. The registered number of the LLP is OC398641.

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 Republic of Ireland' ('FRS 102') and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

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

Going Concern

The LLP has sufficient liquid resources to continue as a going concern for the foreseeable future and the members believe the LLP will be able to meet its liabilities as they fall due for at least twelve months from the date of approval of these financial statements.

 
2.3

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.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
Arc Pensions Law LLP
 


Notes to the financial statements
for the year ended 31 March 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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:

Fixtures and fittings
-
over 5 years
Computer equipment
-
between 1 and 3 years
Leasehold improvements
-
over the lease term

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.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

  
2.7

Debtors

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

  
2.8

Amounts recoverable under contracts

Amounts recoverable under contracts represent work done at the year end where a continuing right to receive income exists and is valued at the estimated amount recoverable in excess of fees already rendered.

Page 4

 
Arc Pensions Law LLP
 


Notes to the financial statements
for the year ended 31 March 2024

2.Accounting policies (continued)

  
2.9

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.

  
2.10

Tax provisions

Taxation of all of the LLP's profits is solely the personal liability of individual members and is not dealt with in
these financial statements.

  
2.11

Members' remuneration

Profits are allocated to members in proportion to their profit shares for that accounting period and are accounted for as an expense in the profit and loss account.

 
2.12

Defined contribution pension plan

During the year, the LLP operated a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a seperate entity. Once the contributions have been paid the LLP has no further payment obligations.
Contributions are recognised as an expense in the statement of comprehensive income 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 seperately from the LLP in an independently administered fund.

 
2.13

Interest income

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

 
2.14

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 16 (2023 - 14).

Page 5

 
Arc Pensions Law LLP
 
 

Notes to the financial statements
for the year ended 31 March 2024

4.


Tangible fixed assets





Leasehold improvements
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost


At 1 April 2023
12,287
525
143,258
156,070


Additions
-
5,896
13,997
19,893


Disposals
(9,861)
-
(6,123)
(15,984)



At 31 March 2024

2,426
6,421
151,132
159,979



Depreciation


At 1 April 2023
12,287
298
106,930
119,515


Charge for the year on owned assets
-
105
25,468
25,573


Disposals
(9,861)
-
(6,123)
(15,984)



At 31 March 2024

2,426
403
126,275
129,104



Net book value



At 31 March 2024
-
6,018
24,857
30,875



At 31 March 2023
-
227
36,328
36,555


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
100



At 31 March 2024
100




Page 6

 
Arc Pensions Law LLP
 
 

Notes to the financial statements
for the year ended 31 March 2024

6.


Debtors

2024
2023
£
£


Trade debtors
2,092,083
1,479,612

Amounts owed by group undertakings
98,748
92,592

Other debtors
146,945
68,090

Prepayments and accrued income
704,871
426,635

3,042,647
2,066,929



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
21,265
-

Bank loans
-
171,827

Trade creditors
59,734
73,391

Other taxation and social security
373,330
223,537

Other creditors
18,091
9,136

Accruals and deferred income
159,671
118,399

632,091
596,290



8.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
1,684,569
1,583,859

1,684,569
1,583,859



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

Page 7

 
Arc Pensions Law LLP
 
 

Notes to the financial statements
for the year ended 31 March 2024

9.


Pension commitments

The entity makes contributions into employees' personal pension plans. The pension cost charge represents contributions payable by the company to the pension plan and amounted to £94,211 (2023: £65,287). At 31 March 2024, there was £18,091 (2023: £9,136) payable in respect of these schemes.


Page 8