Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-052024-04-052023-04-06Provision of audit servicesfalsetrue00falsefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC427003 2023-04-06 2024-04-05 OC427003 2022-04-06 2023-04-05 OC427003 2024-04-05 OC427003 2023-04-05 OC427003 c:CurrentFinancialInstruments 2024-04-05 OC427003 c:CurrentFinancialInstruments 2023-04-05 OC427003 c:CurrentFinancialInstruments c:WithinOneYear 2024-04-05 OC427003 c:CurrentFinancialInstruments c:WithinOneYear 2023-04-05 OC427003 d:FRS102 2023-04-06 2024-04-05 OC427003 d:AuditExempt-NoAccountantsReport 2023-04-06 2024-04-05 OC427003 d:FullAccounts 2023-04-06 2024-04-05 OC427003 d:LimitedLiabilityPartnershipLLP 2023-04-06 2024-04-05 OC427003 d:PartnerLLP1 2023-04-06 2024-04-05 OC427003 d:PartnerLLP2 2023-04-06 2024-04-05 OC427003 d:PartnerLLP3 2023-04-06 2024-04-05 OC427003 d:PartnerLLP4 2023-04-06 2024-04-05 OC427003 e:PoundSterling 2023-04-06 2024-04-05 iso4217:GBP xbrli:pure

Registered number: OC427003









MA PARTNERS AUDIT LLP







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024

 
MA PARTNERS AUDIT LLP
 

INFORMATION




Designated Members

C J Dugdale
A J Fish
F M E Shippam
MA Partners LLP

LLP registered number

OC427003

Registered office

7 The CloseNorwichNR1 4DJ


 
MA PARTNERS AUDIT LLP
 

CONTENTS



Page
Balance Sheet
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 5


 
MA PARTNERS AUDIT LLP
REGISTERED NUMBER: OC427003

BALANCE SHEET
AS AT 5 APRIL 2024

2024
2024
2023
2023
Note
£
£
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
462,236
450,982

  
462,236
450,982

Creditors: Amounts Falling Due Within One Year
 5 
(37,310)
(45,327)

Net current assets
  
 
 
424,926
 
 
405,655

  

Net assets
  
424,926
405,655


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 6 
424,926
405,655

  

  
424,926
405,655


Total members' interests
  

Loans and other debts due to members
 6 
424,926
405,655

  
424,926
405,655


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.

Page 1

 
MA PARTNERS AUDIT LLP
REGISTERED NUMBER: OC427003
    
BALANCE SHEET (CONTINUED)
AS AT 5 APRIL 2024

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 20 December 2024.




C J Dugdale
A J Fish
Designated member
Designated member

The notes on pages 3 to 5 form part of these financial statements.

MA Partners Audit 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

 
MA PARTNERS AUDIT LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

1.


General information

MA Partners Audit LLP is a Limited Liability Partnership incorporated in England and Wales.  The address of its registered office is 7 The Close, Norwich, NR1 4DJ.
The LLP's principal activity is that of the provision of audit services.

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

Revenue recognition

Turnover represents the fair value of services provided during the period on client assignments. Turnover is recognised as contract activity progresses and the right to consideration is earned. Fair value reflects the amount expected to be recoverable from clients and is based on the time spent, skills and expertise provided and expenses incurred.  Turnover excludes Value Added Tax.
Turnover in respect of contingent fee assignments (over and above any agreed minimum fee which is recognised as above) is recognised in the period when the contingent event occurs and the collectability of the fee is assured.
Unbilled turnover on individual client assignments is included as accrued income within debtors. Where individual on-account billings exceed revenue recognised on client assignments, the excess is classified as deferred income within creditors.

 
2.3

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.

 
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.

Page 3

 
MA PARTNERS AUDIT LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Financial instruments


The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.


3.


Employees

The entity has no employees.


4.


Debtors

2024
2023
£
£


Trade debtors
291,309
261,251

Other debtors
8,717
3,236

Amounts recoverable on long term contracts
162,210
186,494

462,236
450,981



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other taxation and social security
37,310
45,327

37,310
45,327


Page 4

 
MA PARTNERS AUDIT LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

6.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
(424,926)
(405,655)

(424,926)
(405,655)

All of these amounts fall due for payment within one year.

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

 
Page 5