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REGISTERED NUMBER: OC302092 (England and Wales)















REPORT OF THE MEMBERS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

BROWN & CO-PROPERTY AND BUSINESS
CONSULTANTS LLP

BROWN & CO-PROPERTY AND BUSINESS
CONSULTANTS LLP (REGISTERED NUMBER: OC302092)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

General Information 1

Report of the Members 2

Report of the Independent Auditors 4

Statement of Comprehensive Income 7

Statement of Financial Position 8

Reconciliation of Members' Interests 9

Statement of Cash Flows 11

Notes to the Statement of Cash Flows 12

Notes to the Financial Statements 14


BROWN & CO-PROPERTY AND BUSINESS
CONSULTANTS LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: R.J. Fairey Limited
C.A. Whitaker Limited
E H Cockerton Limited



REGISTERED OFFICE: The Atrium
St. Georges Street
Norwich
Norfolk
NR3 1AB



REGISTERED NUMBER: OC302092 (England and Wales)



SENIOR STATUTORY AUDITOR: Theo Banos BA FCA



AUDITORS: Duncan & Toplis Audit Limited, Statutory Auditor
3 Castlegate
Grantham
Lincs
NG31 6SF

BROWN & CO-PROPERTY AND BUSINESS
CONSULTANTS LLP (REGISTERED NUMBER: OC302092)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2024

The members present their report with the financial statements of the LLP for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of property and business consultants in the agricultural, residential and commercial sector.

DESIGNATED MEMBERS
The designated members during the year under review were:

R.J. Fairey Limited
C.A. Whitaker Limited
E H Cockerton Limited

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £8,628,387 (2023 - £6,363,894 profit).

MEMBERS' INTERESTS
Members' capital is subscribed to on the basis of equal shares once a member has completed an agreed number of years as an equity member. On the departure of a member from the LLP, their capital will be purchased by the remaining members.

Profits for the year are all allocated to members in accordance with the members' agreement.

It is the policy of the LLP to only allow members to withdraw profits to the extent that the LLP retains sufficient working capital to finance its ongoing operations.

STATEMENT OF MEMBERS' RESPONSIBILITIES
The members are responsible for preparing the Report of the Members and the financial statements in accordance with applicable law and regulations.

Legislation applicable to limited liability partnerships requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under legislation applicable to limited liability partnerships the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period. In preparing these financial statements, the members are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business.

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the members are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the LLP's auditors are unaware, and each member has taken all the steps that he ought to have taken as a member in order to make himself aware of any relevant audit information and to establish that the LLP's auditors are aware of that information.

BROWN & CO-PROPERTY AND BUSINESS
CONSULTANTS LLP (REGISTERED NUMBER: OC302092)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2024


AUDITORS
The auditors, Duncan & Toplis Audit Limited, Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE MEMBERS:





C.A. Whitaker Limited - Designated member


3 December 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BROWN & CO-PROPERTY AND BUSINESS
CONSULTANTS LLP

Opinion
We have audited the financial statements of Brown & Co-Property and Business Consultants LLP (the 'LLP') for the year ended 31 March 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Reconciliation of Members' Interests, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the LLP's affairs as at 31 March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the LLP in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the members' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the LLP's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the members with respect to going concern are described in the relevant sections of this report.

Other information
The members are responsible for the other information. The other information comprises the information in the Report of the Members, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Companies Act 2006 as applied to LLPs requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of members
As explained more fully in the Statement of Members' Responsibilities set out on page two, the members are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the members determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the members are responsible for assessing the LLP's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the members either intend to liquidate the LLP or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BROWN & CO-PROPERTY AND BUSINESS
CONSULTANTS LLP


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We have identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial experience, knowledge of the sector, a review of regulatory and legal correspondence and through discussions with members and other management obtained as part of the work required by auditing standards. We have also discussed with the members and other management the policies and procedures relating to compliance with laws and regulations. We communicated laws and regulations throughout the team and remained alert to any indications of non-compliance throughout the audit.

The potential impact of different laws and regulations varies considerably. Firstly, the LLP is subject to laws and regulations that directly impact the financial statements (for example financial reporting legislation) and we have assessed the extent of compliance with such laws as part of our financial statements audit. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates and judgemental areas of the financial statements such as depreciation of tangible fixed assets, as well as the risk of inappropriate journal entries to increase reported profitability.

Audit procedures performed by the engagement team included the identification and testing of material and unusual journal entries and challenging management on key accounting estimates, assumptions and judgements made in the preparation of the financial statements. We carried out detailed substantive tests on accounting estimates, including reviewing the methods used by management to make those estimates, re-performing the calculation, and reviewing the outcome of prior year estimates.

Secondly, the LLP is subject to other laws and regulations where the consequence for non-compliance could have a material effect on the amounts or disclosures in the financial statements. We identified the following areas as those most likely to have such an effect: Health and Safety regulations and Employment laws in addition to compliance with the RICS and ARLA regulations.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the members and other management and inspection. This inspection included a review of legal and professional fees for evidence of non-compliance, review of up-to-date Health and Safety licencing documentation and an assessment of the Employment laws. Through these procedures, if we became aware of any non-compliance, we considered the impact on the procedures performed on the related financial statement items.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. As with any audit, there is a greater risk of non-detection of irregularities as these may involve collusion, intentional omissions of the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BROWN & CO-PROPERTY AND BUSINESS
CONSULTANTS LLP


Use of our report
This report is made solely to the LLP's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. Our audit work has been undertaken so that we might state to the LLP's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and the LLP's members as a body, for our audit work, for this report, or for the opinions we have formed.




Theo Banos BA FCA (Senior Statutory Auditor)
for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor
3 Castlegate
Grantham
Lincs
NG31 6SF

3 December 2024

BROWN & CO-PROPERTY AND BUSINESS
CONSULTANTS LLP (REGISTERED NUMBER: OC302092)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   

REVENUE 3 26,061,849 23,743,890

Cost of sales 13,658,860 13,461,910
GROSS PROFIT 12,402,989 10,281,980

Administrative expenses 3,983,364 3,928,582
OPERATING PROFIT 5 8,419,625 6,353,398

Interest receivable and similar income 208,762 10,496
PROFIT FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT SHARES

8,628,387

6,363,894

PROFIT FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT SHARES

8,628,387

6,363,894

Members' remuneration charged as an expense 6 (8,628,387 ) (6,363,894 )
PROFIT FOR THE FINANCIAL YEAR AVAILABLE FOR
DISCRETIONARY DIVISION AMONG MEMBERS

-

-


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR - -

BROWN & CO-PROPERTY AND BUSINESS
CONSULTANTS LLP (REGISTERED NUMBER: OC302092)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 109,242 74,870
Property, plant and equipment 8 354,854 395,950
Investments 9 118,880 118,880
582,976 589,700

CURRENT ASSETS
Debtors 10 8,428,004 7,980,972
Cash at bank 3,100,548 1,566,693
11,528,552 9,547,665
CREDITORS
Amounts falling due within one year 11 3,969,215 3,942,959
NET CURRENT ASSETS 7,559,337 5,604,706
TOTAL ASSETS LESS CURRENT LIABILITIES 8,142,313 6,194,406

CREDITORS
Amounts falling due after more than one year 12 244,042 492,430
NET ASSETS ATTRIBUTABLE TO MEMBERS 7,898,271 5,701,976

LOANS AND OTHER DEBTS DUE TO MEMBERS 17 6,398,271 4,701,976

MEMBERS' OTHER INTERESTS
Capital accounts 1,500,000 1,000,000
7,898,271 5,701,976

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 17 6,398,271 4,701,976
Members' other interests 1,500,000 1,000,000
7,898,271 5,701,976

The financial statements were approved by the members of the LLP and authorised for issue on 3 December 2024 and were signed by:





C.A. Whitaker Limited - Designated member

BROWN & CO-PROPERTY AND BUSINESS
CONSULTANTS LLP (REGISTERED NUMBER: OC302092)

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2024


EQUITY
Members' other interests
Members'
capital
(classified
as Other
equity) reserves Total
£    £    £   
Balance at 1 April 2023 1,000,000 - 1,000,000
Members' remuneration charged as an expense,
including employment and retirement benefit costs

-

-

-
Profit for the financial year available for discretionary
division among members

-

-

-
Members' interests after profit for the year 1,000,000 - 1,000,000
Introduced by members 500,000 - 500,000
Drawings on account and distributions of profit - - -
Balance at 31 March 2024 1,500,000 - 1,500,000

DEBT TOTAL
Loans and other debts due to MEMBERS'
members less any amounts due INTERESTS
from members in debtors
Other
amounts Total
£    £   
Amount due to members 4,701,976
Amount due from members -
Balance at 1 April 2023 4,701,976 5,701,976
Members' remuneration charged as an expense,
including employment and retirement benefit costs

8,628,387

8,628,387

Profit for the financial year available for discretionary
division among members

-

-

Members' interests after profit for the year 13,330,363 14,330,363
Introduced by members 734,292 1,234,292
Drawings on account and distributions of profit (7,666,384 ) (7,666,384 )
Amount due to members 6,398,271
Amount due from members -
Balance at 31 March 2024 6,398,271 7,898,271

BROWN & CO-PROPERTY AND BUSINESS
CONSULTANTS LLP (REGISTERED NUMBER: OC302092)

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2024

EQUITY
Members' other interests
Members'
capital
(classified
as Other
equity) reserves Total
£    £    £   
Balance at 1 April 2022 1,000,000 - 1,000,000
Members' remuneration charged as an expense,
including employment and retirement benefit costs

-

-

-
Profit for the financial year available for discretionary
division among members

-

-

-
Members' interests after profit for the year 1,000,000 - 1,000,000
Introduced by members - - -
Drawings on account and distributions of profit - - -
Balance at 31 March 2023 1,000,000 - 1,000,000

DEBT TOTAL
Loans and other debts due to MEMBERS'
members less any amounts due INTERESTS
from members in debtors
Other
amounts Total
£    £   
Amount due to members 3,883,640
Amount due from members -
Balance at 1 April 2022 3,883,640 4,883,640
Members' remuneration charged as an expense,
including employment and retirement benefit costs

6,363,894

6,363,894

Profit for the financial year available for discretionary
division among members

-

-

Members' interests after profit for the year 10,247,534 11,247,534
Introduced by members 203,727 203,727
Drawings on account and distributions of profit (5,749,285 ) (5,749,285 )
Amount due to members 4,701,976
Amount due from members -
Balance at 31 March 2023 4,701,976 5,701,976

All loans and other debts due to members are unsecured and do not rank above any other unsecured creditor in the event of a winding up. There are no restrictions in place on the ability of members to reduce the amount of 'Members' other interests'.

BROWN & CO-PROPERTY AND BUSINESS
CONSULTANTS LLP (REGISTERED NUMBER: OC302092)

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 2 8,444,597 6,085,220
Net cash from operating activities 8,444,597 6,085,220

Cash flows from investing activities
Purchase of intangible fixed assets (63,202 ) (14,351 )
Purchase of tangible fixed assets (139,302 ) (186,426 )
Purchase of fixed asset investments - (25,000 )
Sale of fixed asset investments 56,179 -
Interest received 208,762 10,496
Net cash from investing activities 62,437 (215,281 )

Transactions with members and former members
Payments to members (7,666,384 ) (5,749,285 )
Contributions by members 1,234,292 203,727
(6,432,092 ) (5,545,558 )

Cash flows from other financing activities
Loan repayments in year (541,087 ) (575,685 )
Net cash from financing activities (6,973,179 ) (6,121,243 )

Increase/(decrease) in cash and cash equivalents 1,533,855 (251,304 )
Cash and cash equivalents at beginning of year 3 1,566,693 1,817,997

Cash and cash equivalents at end of year 3 3,100,548 1,566,693

BROWN & CO-PROPERTY AND BUSINESS
CONSULTANTS LLP (REGISTERED NUMBER: OC302092)

NOTES TO THE STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024

1. CLASSIFICATION OF SHARE OF PROFITS IN THE CASH FLOW STATEMENT

Distributions of profits to members, as calculated per the members' agreement, are classified as operating cash flows under the heading Members' remuneration charged as an expense.

2. RECONCILIATION OF PROFIT FOR THE FINANCIAL YEAR AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS TO
CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit for the financial year available for discretionary division among members - -
Members' remuneration charged as an expense 8,628,387 6,363,894
Profit on disposal of fixed assets (56,179 ) -
Depreciation and amortisation charges 209,228 180,849
Finance income (208,762 ) (10,496 )
8,572,674 6,534,247
Increase in trade and other debtors (447,032 ) (688,252 )
Increase in trade and other creditors 318,955 239,225
Cash generated from operations 8,444,597 6,085,220

3. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 3,100,548 1,566,693
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 1,566,693 1,817,997


BROWN & CO-PROPERTY AND BUSINESS
CONSULTANTS LLP (REGISTERED NUMBER: OC302092)

NOTES TO THE STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024

4. ANALYSIS OF CHANGES IN NET DEBT

Other
non-cash
At 1.4.23 Cash flow changes At 31.3.24
£    £    £    £   
Net cash
Cash at bank 1,566,693 1,533,855 3,100,548
1,566,693 1,533,855 3,100,548
Debt
Debts falling due
within 1 year (552,478 ) 292,699 - (259,779 )
Debts falling due
after 1 year (492,430 ) 248,388 - (244,042 )
(1,044,908 ) 541,087 - (503,821 )
Net funds (before
members' debt) 521,785 2,074,942 - 2,596,727

Loans and other debts
due to members
Other amounts
due to members (4,701,976 ) 6,932,092 (8,628,387 ) (6,398,271 )
Net debt (4,180,191 ) 9,007,034 (8,628,387 ) (3,801,544 )

BROWN & CO-PROPERTY AND BUSINESS
CONSULTANTS LLP (REGISTERED NUMBER: OC302092)

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

1. STATUTORY INFORMATION

Brown & Co-Property and Business Consultants LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Preparation of consolidated financial statements
The accounts of the subsidiary companies have not been consolidated with those of the LLP as the members consider that the amounts involved are not material.

Related party exemption
The LLP has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue recognition
Services provided to clients during the year, which at the financial reporting date have not been billed to clients, have been recognised as revenue. Revenue recognised in this manner is based on the assessment of the fair value of the service provided at the financial reporting date as a proportion of the total value of the engagement. Where the outcome cannot be measured reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable. If it is not possible to determine whether the costs are recoverable, then no revenue is recognised until the outcome can be measured reliably. Unbilled revenue is included in debtors as amounts recoverable on contracts.

Goodwill
Purchased goodwill is capitalised and amortised over ten years on a straight line basis.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property- 10% on cost
Plant and equipment- 10% to 25% on cost

Pension costs and other post-retirement benefits
The LLP operates a fully insured pension scheme to provide for retirement benefits for employees. Contributions are made to an insurance company and are charged to the income statement as incurred.

BROWN & CO-PROPERTY AND BUSINESS
CONSULTANTS LLP (REGISTERED NUMBER: OC302092)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The LLP has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, 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.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price.

Such assets are subsequently carried at fair value and the changes in fair value are recognised in the income statement, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Basic financial liabilities, including trade and other creditors, bank loans and loans from fellow group entities are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Investments
Investments in subsidiaries and joint ventures are recognised at cost less impairment.

Foreign currency exchange
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All exchange adjustments are dealt with through the income statement.

Critical accounting judgements and estimation uncertainty
In the application of the LLP's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

Amounts recoverable on contracts
Revenue recognised in relation to services provided is based on an assessment of the fair value of the service provided at the financial reporting date as a proportion of the total value of the engagement. The degree of completion is estimated based on timesheets, where appropriate, and the fair value is based on fee quotes agreed with clients.

BROWN & CO-PROPERTY AND BUSINESS
CONSULTANTS LLP (REGISTERED NUMBER: OC302092)

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

3. REVENUE

The revenue and profit for the financial year before members' remuneration and profit shares are attributable to the one principal activity of the LLP.

An analysis of revenue by geographical market is given below:

2024 2023
£    £   
United Kingdom 25,788,033 23,598,602
Europe 252,974 108,487
Other 20,842 36,801
26,061,849 23,743,890

Revenue represents net invoiced sales of services, excluding value added tax.

4. EMPLOYEE INFORMATION
2024 2023
£    £   
Wages and salaries 10,211,817 9,700,265
Social security costs 1,084,442 1,121,231
Other pension costs 294,625 343,863
11,590,884 11,165,359

The average number of employees during the year was as follows:
2024 2023

Professional and support staff 259 260

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 180,398 165,172
Profit on disposal of fixed assets (56,179 ) -
Goodwill amortisation 7,375 7,375
Computer software amortisation 21,455 8,302
Auditors' remuneration 13,000 14,000

6. INFORMATION IN RELATION TO MEMBERS

There were 36 members of the LLP throughout the year.

The amount of profit attributable to the member with the largest entitlement as calculated per the members' agreement was £344,546 (2023 - £348,365).

BROWN & CO-PROPERTY AND BUSINESS
CONSULTANTS LLP (REGISTERED NUMBER: OC302092)

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

7. INTANGIBLE FIXED ASSETS
Computer
Goodwill software Totals
£    £    £   
COST
At 1 April 2023 250,176 160,174 410,350
Additions - 63,202 63,202
At 31 March 2024 250,176 223,376 473,552
AMORTISATION
At 1 April 2023 213,379 122,101 335,480
Amortisation for year 7,375 21,455 28,830
At 31 March 2024 220,754 143,556 364,310
NET BOOK VALUE
At 31 March 2024 29,422 79,820 109,242
At 31 March 2023 36,797 38,073 74,870

8. PROPERTY, PLANT AND EQUIPMENT
Improvements
to Plant and
property equipment Totals
£    £    £   
COST
At 1 April 2023 356,494 1,094,568 1,451,062
Additions 26,414 112,888 139,302
At 31 March 2024 382,908 1,207,456 1,590,364
DEPRECIATION
At 1 April 2023 210,278 844,834 1,055,112
Charge for year 58,150 122,248 180,398
At 31 March 2024 268,428 967,082 1,235,510
NET BOOK VALUE
At 31 March 2024 114,480 240,374 354,854
At 31 March 2023 146,216 249,734 395,950

9. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 April 2023
and 31 March 2024 118,880
NET BOOK VALUE
At 31 March 2024 118,880
At 31 March 2023 118,880

BROWN & CO-PROPERTY AND BUSINESS
CONSULTANTS LLP (REGISTERED NUMBER: OC302092)

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

9. FIXED ASSET INVESTMENTS - continued

The LLP's investments at the Statement of Financial Position date in the share capital of companies include the following:

Brown & Co Sp.z o.o.
Registered office: Poland
Nature of business: Property and business consultants
%
Class of shares: holding
A Ordinary 100.00
31.3.23 31.3.22
£    £   
Aggregate capital and reserves 54,117 111,869
Profit for the year 6,639 69,075

Brown & Co Sp.z.o.o. accounts for the year ended 31 March 2024 are not currently available.

Brown & Co (Caribbean) Limited
Registered office: St Lucia
Nature of business: Property and business consultants
%
Class of shares: holding
A Ordinary 100.00

Brown & Co (Caribbean) Limited accounts for the years ended 31 March 2023 and 2024 are not currently available.

Brown & Co Property and Business Consultants SRL
Registered office: Romania
Nature of business: Property and business consultants
%
Class of shares: holding
A Ordinary 100.00

Brown & Co Property and Business Consultants SRL accounts for the years ended 31 December 2022 and 2023 are not currently available.

Agricultural Asset Management Limited
Registered office: England and Wales
Nature of business: Fund and real estate management
%
Class of shares: holding
Ordinary 100.00
31.3.23 31.3.22
£    £   
Aggregate capital and reserves 75,000 50,000

Agricultural Asset Management Limited accounts for the year ended 31 March 2024 are not currently available.

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 6,417,064 6,086,313
Amounts owed by group undertakings 83,698 93,992
Amounts recoverable on
contracts 994,310 970,250
Other debtors 15,080 8,584
Prepayments and accrued income 917,852 821,833
8,428,004 7,980,972

BROWN & CO-PROPERTY AND BUSINESS
CONSULTANTS LLP (REGISTERED NUMBER: OC302092)

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

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 13) 259,779 552,478
Trade creditors 653,095 838,833
Social security and other taxes 1,098,235 1,118,461
Other creditors and accruals 1,958,106 1,433,187
3,969,215 3,942,959

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 13) 244,042 492,430

13. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans - less than 1 yr 259,779 552,478

Amounts falling due between one and two years:
Bank loans - 1-2 years 177,196 250,568

Amounts falling due between two and five years:
Bank loans - 2-5 years 66,846 241,862

14. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases, including property leases, fall due as follows:
20242023
££
Within one year527,547460,128
Between one and five years 1,709,9531,449,172
In more than five years1,217,6341,124,946
3,455,1343,034,246

15. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 503,821 1,044,908

The bank loans and overdraft are secured by a fixed and floating charge over the LLP's assets.

BROWN & CO-PROPERTY AND BUSINESS
CONSULTANTS LLP (REGISTERED NUMBER: OC302092)

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

16. FINANCIAL INSTRUMENTS

The LLP has the following financial instruments:

2024 2023
£ £
Financial assets that are debt instruments measured at amortised cost
Trade debtors 6,417,064 6,086,313
Amounts owed by related parties 83,698 93,992
Amounts recoverable on contracts 994,310 970,250
Other debtors 15,080 8,584

Financial liabilities measured at amortised cost
Bank loans and overdrafts 503,821 1,044,908
Trade creditors 653,095 838,833
Other creditors 1,958,106 1,433,187

The total interest income and interest expense for financial assets and financial liabilities that are not measured at fair value through profit or loss was £nil (2023 - £nil) and £56,792 (2023 - £56,965) respectively.

17. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 6,398,271 4,701,976

Falling due within one year 6,398,271 4,701,976

18. RELATED PARTY DISCLOSURES

Key management personnel compensation

2024 2023
£ £
Members' share of profits 8,628,387 6,363,894
Management Board salaries 216,622 203,703
8,845,009 6,567,597