Caseware UK (AP4) 2023.0.135 2023.0.135 true2023-04-01falseNo description of principal activity1817trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC304717 2023-04-01 2024-03-31 OC304717 2022-04-01 2023-03-31 OC304717 2024-03-31 OC304717 2023-03-31 OC304717 c:Buildings 2023-04-01 2024-03-31 OC304717 c:Buildings 2024-03-31 OC304717 c:Buildings 2023-03-31 OC304717 c:Buildings c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC304717 c:Buildings c:ShortLeaseholdAssets 2023-04-01 2024-03-31 OC304717 c:PlantMachinery 2023-04-01 2024-03-31 OC304717 c:MotorVehicles 2023-04-01 2024-03-31 OC304717 c:FurnitureFittings 2023-04-01 2024-03-31 OC304717 c:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 OC304717 c:OtherPropertyPlantEquipment 2024-03-31 OC304717 c:OtherPropertyPlantEquipment 2023-03-31 OC304717 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC304717 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC304717 c:CurrentFinancialInstruments 2024-03-31 OC304717 c:CurrentFinancialInstruments 2023-03-31 OC304717 c:Non-currentFinancialInstruments 2024-03-31 OC304717 c:Non-currentFinancialInstruments 2023-03-31 OC304717 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC304717 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC304717 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 OC304717 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 OC304717 d:FRS102 2023-04-01 2024-03-31 OC304717 d:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 OC304717 d:FullAccounts 2023-04-01 2024-03-31 OC304717 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC304717 c:WithinOneYear 2024-03-31 OC304717 c:WithinOneYear 2023-03-31 OC304717 c:BetweenOneFiveYears 2024-03-31 OC304717 c:BetweenOneFiveYears 2023-03-31 OC304717 7 2023-04-01 2024-03-31 OC304717 d:PartnerLLP1 2023-04-01 2024-03-31 OC304717 d:PartnerLLP2 2023-04-01 2024-03-31 OC304717 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC304717










The Woodley Coles LLP








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 March 2024



 
The Woodley Coles LLP
 

Information




Designated Members
S P Coles
C Norris


LLP registered number
OC304717

Registered office
Second floor
168 Shoreditch High Street
London
E1 6RA

Accountants
Kreston Reeves LLP
Chartered Accountants
37 St Margaret's Street
Canterbury
Kent
CT1 2TU


 
The Woodley Coles LLP
 

Contents



Page
Accountants' report
 
1
Balance sheet
 
2 - 3
Reconciliation of members' interests
 
4
Notes to the financial statements
 
5 - 9


 
The Woodley Coles LLP
 
  
Chartered accountants' report to the members on the preparation of the unaudited statutory financial statements of The Woodley Coles LLP for the year ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), we have prepared for your approval the financial statements of The Woodley Coles LLP for the year ended 31 March 2024 which comprise the Balance sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the members in accordance with the terms of our engagement letter dated 5 September 2023Our work has been undertaken solely to prepare for your approval the financial statements of The Woodley Coles LLP and state those matters that we have agreed to state to the The Woodley Coles LLP's members in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Woodley Coles LLP and its members for our work or for this report. 

It is your duty to ensure that The Woodley Coles LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Woodley Coles LLP. You consider that The Woodley Coles LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of The Woodley Coles LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
 
Chartered Accountants
  
37 St Margaret's Street
Canterbury
Kent
CT1 2TU
20 September 2024
Page 1

 
The Woodley Coles LLP
Registered number: OC304717

Balance sheet
As at 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
58,644
71,068

Current assets
  

Debtors: amounts falling due within one year
 5 
550,806
421,966

Cash at bank and in hand
  
226,019
262,418

  
776,825
684,384

Creditors: Amounts Falling Due Within One Year
 6 
(305,612)
(303,511)

Net current assets
  
 
 
471,213
 
 
380,873

Total assets less current liabilities
  
529,857
451,941

Creditors: amounts falling due after more than one year
 7 
(30,421)
(33,558)

  

Net assets
  
499,436
418,383


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts

 8 

499,436
418,383

  


Total members' interests
  

Loans and other debts due to members
 8 
499,436
418,383


Page 2

 
The Woodley Coles LLP
Registered number: OC304717

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 profit and loss account 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 on 20 September 2024.




S P Coles
Designated member

The notes on pages 5 to 9 form part of these financial statements.

The Woodley Coles 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 3

 
The Woodley Coles 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
Total

£
£
£

Amounts due to members 

402,497


Balance at 1 April 2022 
-
402,497
402,497

Profit for the year available for automatic division among members
 
505,205
-
505,205

Members' interests after profit for the year
505,205
402,497
907,702

Other division of profits
(505,205)
505,205
-

Amounts introduced by members
-
4,080
4,080

Drawings on account and distribution of profit
 
-
(493,399)
(493,399)

Amounts due to members
 

418,383


Balance at 31 March 2023
-
418,382
418,382

Profit for the year available for automatic division among members
 
646,928
-
646,928

Members' interests after profit for the year
646,928
418,382
1,065,310

Other division of profits
(646,928)
646,928
-

Amounts introduced by members
-
1,624
1,624

Drawings on account and distribution of profit
 
-
(567,498)
(567,498)

Amounts due to members
 

499,436


Balance at 31 March 2024 
-
499,436
499,436

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 4

 
The Woodley Coles LLP
 

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

1.


General information

The Woodley Coles LLP is a limited liability partnership incorporated and domiciled in England and Wales.
The LLP's registered office is Second Floor, 168 Shoreditch High Street, London, United Kingdom, E1 6RA.
The financial statements are presented in pound Sterling, and rounded to the nearest pound.

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

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.

 
2.3

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 5

 
The Woodley Coles LLP
 

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

2.Accounting policies (continued)

 
2.4

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 discretionarily. Discretionary divisions of profits are recognised as amounts due to members, although may be used to offset amounts which have been drawn by members, which are recognised as loan assets repayable.

 
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 .

Depreciation is provided on the following basis:

Short-term leasehold property
-
over the term of the lease
Plant and machinery
-
25% straight line
Motor vehicles
-
25% straight line
Fixtures and fittings
-
25% straight line

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

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.

 
2.7

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

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

Page 6

 
The Woodley Coles LLP
 

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

3.


Employees

The average monthly number of employees, including members, during the year was 18 (2023 - 17).


4.


Tangible fixed assets





Land and buildings
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 April 2023
12,662
151,365
164,027


Additions
-
13,993
13,993



At 31 March 2024

12,662
165,358
178,020



Depreciation


At 1 April 2023
12,662
80,296
92,958


Charge for the year on owned assets
-
26,418
26,418



At 31 March 2024

12,662
106,714
119,376



Net book value



At 31 March 2024
-
58,644
58,644



At 31 March 2023
-
71,069
71,069

The Net Book Value of assets held under HP for the year was £27,765 (2023: £39,148)

Page 7

 
The Woodley Coles LLP
 

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

5.


Debtors

2024
2023
£
£


Trade debtors
496,943
386,554

Other debtors
1,176
770

Prepayments and accrued income
52,687
34,641

550,806
421,965



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
17,107
31,009

Other taxation and social security
108,771
97,341

Obligations under finance lease and hire purchase contracts
3,137
3,137

Other creditors
148,181
149,181

Accruals and deferred income
28,416
22,843

305,612
303,511



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
30,421
33,558

30,421
33,558



8.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
499,436
418,383

499,436
418,383

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



Page 8

 
The Woodley Coles LLP
 

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

9.


Commitments under operating leases

At 31 March 2024 the LLP had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
54,102
55,432

Later than 1 year and not later than 5 years
134,489
194,315

188,591
249,747


10.


Controlling party

The LLP is under control of its designated members.


Page 9