Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31382023-04-01falseThe principal activity of the LLP is the provision of legal services.37falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC401905 2023-03-31 OC401905 2023-04-01 2024-03-31 OC401905 2022-05-01 2023-04-30 OC401905 2024-03-31 OC401905 2023-04-30 OC401905 c:Buildings c:ShortLeaseholdAssets 2023-04-01 2024-03-31 OC401905 c:Buildings c:ShortLeaseholdAssets 2024-03-31 OC401905 c:Buildings c:ShortLeaseholdAssets 2023-04-30 OC401905 c:FurnitureFittings 2023-04-01 2024-03-31 OC401905 c:FurnitureFittings 2024-03-31 OC401905 c:FurnitureFittings 2023-04-30 OC401905 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC401905 c:OfficeEquipment 2023-04-01 2024-03-31 OC401905 c:OfficeEquipment 2024-03-31 OC401905 c:OfficeEquipment 2023-04-30 OC401905 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC401905 c:ComputerEquipment 2023-04-01 2024-03-31 OC401905 c:ComputerEquipment 2024-03-31 OC401905 c:ComputerEquipment 2023-04-30 OC401905 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC401905 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC401905 c:CurrentFinancialInstruments 2024-03-31 OC401905 c:CurrentFinancialInstruments 2023-04-30 OC401905 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC401905 c:CurrentFinancialInstruments c:WithinOneYear 2023-04-30 OC401905 c:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2024-03-31 OC401905 c:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2023-04-30 OC401905 d:FRS102 2023-04-01 2024-03-31 OC401905 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC401905 d:FullAccounts 2023-04-01 2024-03-31 OC401905 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC401905 2 2023-04-01 2024-03-31 OC401905 d:PartnerLLP1 2023-04-01 2024-03-31 OC401905 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC401905









THOMSON WEBB & CORFIELD LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
THOMSON WEBB & CORFIELD LLP
REGISTERED NUMBER: OC401905

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
72,278
68,919

  
72,278
68,919

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
1,116,048
1,010,610

Cash at bank and in hand
  
950,441
493,032

  
2,066,489
1,503,642

Creditors: amounts falling due within one year
 6 
(265,446)
(236,201)

NET CURRENT ASSETS
  
 
 
1,801,043
 
 
1,267,441

TOTAL ASSETS LESS CURRENT LIABILITIES
  
1,873,321
1,336,360

PROVISIONS FOR LIABILITIES
  

Other provisions
 7 
(39,435)
(39,435)

  
 
 
(39,435)
 
 
(39,435)

NET ASSETS
  
1,833,886
1,296,925


REPRESENTED BY:
  

LOANS AND OTHER DEBTS DUE TO MEMBERS WITHIN ONE YEAR
  

Members' capital classified as a liability
  
2,214,011
2,010,569

Other amounts
  
(380,125)
(713,644)

  
1,833,886
1,296,925


TOTAL MEMBERS' INTERESTS
  

Loans and other debts due to members
  
1,833,886
1,296,925

  
1,833,886
1,296,925


Page 1

 
THOMSON WEBB & CORFIELD LLP
REGISTERED NUMBER: OC401905
    
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: 




S A Hollis
Designated member

Date: 12 December 2024

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

Thomson Webb & Corfield 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

 
THOMSON WEBB & CORFIELD LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


GENERAL INFORMATION

Thomson Webb & Corfield LLP is a limited liability partnership incorporated in England and Wales. Its registered office is 16 Union Road, Cambridge, Cambridgeshire, CB2 1HE.
The LLP's functional and presentational currency is GBP.

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 comprises revenue recognised by the LLP in respect of legal services supplied during the year, exclusive of Value Added Tax.
Unbilled time, where the ability to recover fees on a matter is non contingent, is recognised on the basis of time spent, discounted for recovery rates on different types of work, and is valued at the amount expected to be billed in respect of that time. This is included within debtors as amounts recoverable on long term contracts.

 
2.3

INTEREST INCOME

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

 
2.4

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
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.

Page 3

 
THOMSON WEBB & CORFIELD LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

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, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements
-
20%
Fixtures and fittings
-
15%
Office equipment
-
15%
Computer equipment
-
25%

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.

 
2.7

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.

  
2.8

AMOUNTS RECOVERABLE ON LONG TERM CONTRACTS

Amounts recoverable on long term contracts are reviewed on a monthly basis. The methodology for the valuation is applied consistently assessing all matters individually for the carrying value of the work done to date, using the methodology described in 2.2.

 
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.

Page 4

 
THOMSON WEBB & CORFIELD LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.11

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


EMPLOYEES

The average monthly number of persons (including members with contracts of employment) employed during the period was as follows:


        2024
        2023
            No.
            No.







Employees
38
37

Page 5

 
THOMSON WEBB & CORFIELD LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


TANGIBLE FIXED ASSETS





Leasehold improvements
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£



COST


At 1 April 2023
81,563
130,564
152,446
282,823
647,396


Additions
-
-
15,494
17,001
32,495



At 31 March 2024

81,563
130,564
167,940
299,824
679,891



DEPRECIATION


At 1 April 2023
69,385
126,199
140,772
242,121
578,477


Charge for the period on owned assets
6,141
1,477
4,438
17,080
29,136



At 31 March 2024

75,526
127,676
145,210
259,201
607,613



NET BOOK VALUE



At 31 March 2024
6,037
2,888
22,730
40,623
72,278



At 31 March 2023
12,178
4,365
11,674
40,702
68,919


5.


DEBTORS

2024
2023
£
£

Trade debtors
321,370
331,785

Other debtors
300
300

Prepayments and accrued income
375,100
285,063

Amounts recoverable on long term contracts
419,278
393,462

1,116,048
1,010,610


Page 6

 
THOMSON WEBB & CORFIELD LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
799
12,686

Other taxation and social security
133,223
177,863

Other creditors
-
875

Accruals and deferred income
131,424
44,777

265,446
236,201



7.


PROVISIONS





Dilapidations provision

£





At 1 April 2023
39,435



AT 31 MARCH 2024
39,435

Operational leases for properties that the firm occupies contain a requirement for the premises to be returned to their original state at the conclusion of the lease. The above dilapidation provision constitutes the accumulated cost of reinstating the properties to their original state as at 31 March 2024. The members have provided this estimate based on professional advice received.


8.FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies that are not included in the balance sheet amount to £299,288 (2023 - £404,325).

 
Page 7