Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC353282 2023-04-01 2024-03-31 OC353282 2022-04-01 2023-03-31 OC353282 2024-03-31 OC353282 2023-03-31 OC353282 c:ComputerEquipment 2023-04-01 2024-03-31 OC353282 c:ComputerEquipment 2024-03-31 OC353282 c:ComputerEquipment 2023-03-31 OC353282 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC353282 c:CurrentFinancialInstruments 2024-03-31 OC353282 c:CurrentFinancialInstruments 2023-03-31 OC353282 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC353282 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC353282 d:FRS102 2023-04-01 2024-03-31 OC353282 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC353282 d:FullAccounts 2023-04-01 2024-03-31 OC353282 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC353282 d:PartnerLLP1 2023-04-01 2024-03-31 OC353282 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC353282 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC353282 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC353282 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC353282 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: OC353282









CHAMPION PEARCE LLP

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024



 
CHAMPION PEARCE LLP
REGISTERED NUMBER: OC353282

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,889
1,794

  
1,889
1,794

Current assets
  

Debtors: amounts falling due within one year
 5 
118,797
264,813

Cash at bank and in hand
  
22,676
13,703

  
141,473
278,516

Creditors: amounts falling due within one year
 6 
(26,820)
(44,825)

Net current assets
  
 
 
114,653
 
 
233,691

Total assets less current liabilities
  
116,542
235,485

  

Net assets
  
116,542
235,485


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 7 
116,442
235,385

  
116,442
235,385

Members' other interests
  

Members' capital classified as equity
  
100
100

  
 
100
 
100

  
116,542
235,485


Total members' interests
  

Loans and other debts due to members
 7 
116,442
235,385

Members' other interests
  
100
100

  
116,542
235,485

Page 1

 
CHAMPION PEARCE LLP
REGISTERED NUMBER: OC353282

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 by: 




R. H. J. Champion
Designated member

Date: 29 November 2024

The notes on pages 3 to 7 form part of these financial statements.

Champion Pearce 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

 
CHAMPION PEARCE LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The partnership is a limited liability partnership incorporated in England and Wales, United Kingdom. The registered number is OC353282 and the registered office is 24 Old Bond Street, London, W1S 4AP. The tradng address is Golden Cross House, 8 Duncannon Street, Strand, WC2N 4JF. 

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the LLP's accounting policies.

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

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 3

 
CHAMPION PEARCE LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 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, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
20%
straight line method

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.

 
2.6

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.

 
2.7

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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 with the operating cycle fall into this category of
Page 4

 
CHAMPION PEARCE LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)

financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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 payments 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.

Derecognition of financial instruments

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.

Page 5

 
CHAMPION PEARCE 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 2 (2023 - 2).


4.


Tangible fixed assets





Computer equipment

£



Cost


At 1 April 2023
2,111


Additions
544



At 31 March 2024

2,655



Depreciation


At 1 April 2023
317


Charge for the year on owned assets
449



At 31 March 2024

766



Net book value



At 31 March 2024
1,889



At 31 March 2023
1,794


5.


Debtors

2024
2023
£
£


Trade debtors
102,751
249,404

Prepayments and accrued income
16,046
15,409

118,797
264,813


Page 6

 
CHAMPION PEARCE 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
134
-

Other taxation and social security
21,786
39,960

Accruals and deferred income
4,900
4,865

26,820
44,825



7.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
116,442
235,385

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

2024
2023
£
£



Falling due within one year
116,442
235,385

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


Page 7