Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity56truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC353406 2023-04-01 2024-03-31 OC353406 2022-04-01 2023-03-31 OC353406 2024-03-31 OC353406 2023-03-31 OC353406 c:Director3 2023-04-01 2024-03-31 OC353406 d:FurnitureFittings 2023-04-01 2024-03-31 OC353406 d:FurnitureFittings 2024-03-31 OC353406 d:FurnitureFittings 2023-03-31 OC353406 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC353406 d:CurrentFinancialInstruments 2024-03-31 OC353406 d:CurrentFinancialInstruments 2023-03-31 OC353406 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 OC353406 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 OC353406 c:FRS102 2023-04-01 2024-03-31 OC353406 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC353406 c:FullAccounts 2023-04-01 2024-03-31 OC353406 c:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC353406 2 2023-04-01 2024-03-31 OC353406 c:PartnerLLP1 2023-04-01 2024-03-31 OC353406 d:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC353406 d:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC353406 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC353406









THE PILCHER HERSHMAN PARTNERSHIP LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
THE PILCHER HERSHMAN PARTNERSHIP LLP
REGISTERED NUMBER: OC353406

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
21,094
23,034

  
21,094
23,034

Current assets
  

Debtors: amounts falling due within one year
 5 
31,997
70,751

Cash at bank and in hand
 6 
490,007
360,543

  
522,004
431,294

Creditors: Amounts Falling Due Within One Year
 7 
(47,746)
(55,223)

Net current assets
  
 
 
474,258
 
 
376,071

Total assets less current liabilities
  
495,352
399,105

  

Net assets
  
495,352
399,105


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 8 
495,352
399,105

  
495,352
399,105

  

  
495,352
399,105


Total members' interests
  

Loans and other debts due to members
 8 
495,352
399,105

  
495,352
399,105


Page 1

 
THE PILCHER HERSHMAN PARTNERSHIP LLP
REGISTERED NUMBER: OC353406
    
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: 



D H Rosen
Designated member


S A Rinder
Designated member

Date: 3 December 2024

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

Page 2

 
THE PILCHER HERSHMAN PARTNERSHIP LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Pilcher Hershman Partnership LLP is a limited liability partnership, incorporated in England and Wales, registration number OC353406. The registered office is 10 Golden Square, London, England, W1F 9JA. The financial statements are presented in pound sterling (GBP), which is the functional currency of the LLP.

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

Going concern

In assessing the ability of the LLP to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. Given that the LLP is in a net asset position, the members have assessed that the company will continue to have adequate funds to meets its obligations. As a result, the members consider it appropriate to prepare the financial statements on a going concern basis.

 
2.3

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.

 
2.4

Interest income

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

Page 3

 
THE PILCHER HERSHMAN PARTNERSHIP LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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 .

 
2.7

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:

Fixtures, fittings and equipment
-
20% reducing balance basis

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.

 
2.8

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.

Page 4

 
THE PILCHER HERSHMAN PARTNERSHIP LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 6).


4.


Tangible fixed assets





Fixtures, fittings and equipment

£



Cost or valuation


At 1 April 2023
92,355



At 31 March 2024

92,355



Depreciation


At 1 April 2023
69,321


Charge for the year on owned assets
1,940



At 31 March 2024

71,261



Net book value



At 31 March 2024
21,094



At 31 March 2023
23,034

Page 5

 
THE PILCHER HERSHMAN PARTNERSHIP LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
15,239
53,186

Other debtors
2,536
1,431

Prepayments and accrued income
14,222
16,134

31,997
70,751



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
490,007
360,543

490,007
360,543



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other taxation and social security
47,412
53,793

Other creditors
334
1,430

47,746
55,223


Page 6

 
THE PILCHER HERSHMAN PARTNERSHIP LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
495,352
399,105

495,352
399,105

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

2024
2023
£
£



Other amounts due to members
495,352
399,105

495,352
399,105

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


9.


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 £3,715 (2023: £5,892). Contributions totalling £334 (2023: £1,430) were payable to the fund at the year-end and are included in creditors.

 
Page 7