Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31true2022-11-01falseNo description of principal activity5246falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC328687 2022-11-01 2023-10-31 OC328687 2023-10-31 OC328687 2021-11-01 2022-10-31 OC328687 2022-10-31 OC328687 c:PlantMachinery 2022-11-01 2023-10-31 OC328687 c:PlantMachinery 2023-10-31 OC328687 c:PlantMachinery 2022-10-31 OC328687 c:PlantMachinery c:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 OC328687 c:CurrentFinancialInstruments 2023-10-31 OC328687 c:CurrentFinancialInstruments 2022-10-31 OC328687 c:CurrentFinancialInstruments 2 2023-10-31 OC328687 c:CurrentFinancialInstruments 2 2022-10-31 OC328687 c:Non-currentFinancialInstruments 2023-10-31 OC328687 c:Non-currentFinancialInstruments 2022-10-31 OC328687 c:CurrentFinancialInstruments c:WithinOneYear 2023-10-31 OC328687 c:CurrentFinancialInstruments c:WithinOneYear 2022-10-31 OC328687 c:Non-currentFinancialInstruments c:AfterOneYear 2023-10-31 OC328687 c:Non-currentFinancialInstruments c:AfterOneYear 2022-10-31 OC328687 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-11-01 2023-10-31 OC328687 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-10-31 OC328687 e:FRS102 2022-11-01 2023-10-31 OC328687 e:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 OC328687 e:FullAccounts 2022-11-01 2023-10-31 OC328687 e:LimitedLiabilityPartnershipLLP 2022-11-01 2023-10-31 OC328687 c:WithinOneYear 2023-10-31 OC328687 c:WithinOneYear 2022-10-31 OC328687 c:BetweenOneFiveYears 2023-10-31 OC328687 c:BetweenOneFiveYears 2022-10-31 OC328687 c:HirePurchaseContracts c:WithinOneYear 2023-10-31 OC328687 c:HirePurchaseContracts c:WithinOneYear 2022-10-31 OC328687 c:HirePurchaseContracts c:BetweenOneFiveYears 2023-10-31 OC328687 c:HirePurchaseContracts c:BetweenOneFiveYears 2022-10-31 OC328687 2 2022-11-01 2023-10-31 OC328687 6 2022-11-01 2023-10-31 OC328687 e:PartnerLLP1 2022-11-01 2023-10-31 OC328687 c:FurtherSpecificReserve2ComponentTotalEquity 2023-10-31 OC328687 c:FurtherSpecificReserve2ComponentTotalEquity 2022-10-31 OC328687 f:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure
Company registration number: OC328687







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 OCTOBER 2023


PRODDOW MACKAY SOLICITORS LLP






































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PRODDOW MACKAY SOLICITORS LLP
 



CONTENTS



Page
Statement of financial position
2 - 3
Reconciliation of members' interests
4
Notes to the financial statements
5 - 10


 


PRODDOW MACKAY SOLICITORS LLP
 



INFORMATION

Designated Members
D J Mackay
S K Proddow
 
LLP registered number

OC328687

Registered office

PM House250 Shepcote LaneSheffieldSouth YorkshireS9 1TP

Accountants

Menzies LLP1st FloorMidas House62 Goldsworth RoadWokingSurreyGU21 6LQ

Page 1

 


PRODDOW MACKAY SOLICITORS LLP
REGISTERED NUMBER:OC328687



STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
322,582
221,200

Investments
  
856,509
-

  
1,179,091
221,200

Current assets
  

Debtors: amounts falling due within one year
 6 
7,723,000
8,419,032

  
7,723,000
8,419,032

Creditors: Amounts Falling Due Within One Year
 7 
(5,750,655)
(4,999,567)

Net current assets
  
 
 
1,972,345
 
 
3,419,465

Total assets less current liabilities
  
3,151,436
3,640,665

Creditors: amounts falling due after more than one year
 8 
(3,280,113)
(4,394,892)

  
(128,677)
(754,227)

Provisions for liabilities
  

Other provisions
  
(418,856)
-

  
 
 
(418,856)
 
 
-

Net liabilities
  
(547,533)
(754,227)


Represented by:
  

Loans and other debts due to members within one year
  

Members' other interests
  

Other reserves classified as equity
  
(547,533)
(754,227)

  
 
(547,533)
 
(754,227)

  
(547,533)
(754,227)


Total members' interests
  

Amounts due from members (included in debtors)
 6 
(4,178,878)
(4,001,233)

Members' other interests
  
(547,533)
(754,227)

  
(4,726,411)
(4,755,460)


Page 2

 


PRODDOW MACKAY SOLICITORS LLP
REGISTERED NUMBER:OC328687


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2023

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 income statement 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 on 20 December 2024.




................................................
D J Mackay
Designated member

The notes on pages 5 to 10 form part of these financial statements.

Proddow Mackay Solicitors 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 3

 


PRODDOW MACKAY SOLICITORS LLP
 



RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 OCTOBER 2023




EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Other reserves
Other amounts
Total

£
£
£

Amounts due from members 

(3,646,333)


Balance at 1 November 2021 
(909,070)
(3,646,333)
(4,555,403)

Profit for the year available for discretionary division among members
 
154,843
-
154,843

Members' interests after profit for the year
(754,227)
(3,646,333)
(4,400,560)

Drawings on account and distribution of profit
-
(354,900)
(354,900)

Amounts due from members
 

(4,001,233)


Balance at 31 October 2022
(754,227)
(4,001,233)
(4,755,460)

Profit for the year available for discretionary division among members
 
206,694
-
206,694

Members' interests after profit for the year
(547,533)
(4,001,233)
(4,548,766)

Drawings on account and distribution of profit
-
(177,645)
(177,645)

Amounts due from members
 

(4,178,878)


Balance at 31 October 2023 
(547,533)
(4,178,878)
(4,726,411)

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 4

 


PRODDOW MACKAY SOLICITORS LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

The entity is a limited liability partnership, incorporated and domiciled in England. The company is a tax resident in England. Proddow Mackay Solicitors LLP operates from its registered office of PM House, 250 Shepcote Lane, Sheffield, S9 1TP with registered number OC328687.
The financial statements are presented in sterling which is the functional currency of the company and rounded to
the nearest £.

2.Accounting policies

  
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwisespecified within these accounting policies and in accordance with Section 1A of Financial ReportingStandard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland andthe 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

At 31 October 2023 the LLP had net liabilities of £547,533 (2022 - £754,227).
However, based on financial projections prepared by the members, which take account of the continuing financial support of the LLP's bankers and related parties the members consider that it is appropriate to prepare the financial statements on a going concern basis.
The Members have considered the impact of different scenarios on the finanical position, results of operations and cash flows for the future. After considering these, the Members expect that the LLP has adequate resources to operate within the level of its current facilities and continue in operational existance for the foreseeable future.

 
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 5

 


PRODDOW MACKAY SOLICITORS LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

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 Statement of financial position. The assets of the plan are held separately from the LLP in independently administered funds.

 
2.8

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 financialperiod 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 avoidmaking 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 theunconditional right to avoid making.

The LLP divides profits discretionarily. Discretionary divisions of profits are recognised as amounts due to members, although may be used to offset amounts which have been drawn by members,which are recognised as loan assets repayable.

Page 6

 


PRODDOW MACKAY SOLICITORS LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.9

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:

Plant and machinery
-
15% - 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.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted LLP shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Income statement for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.11

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.12

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.

 
2.13

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.

Page 7

 


PRODDOW MACKAY SOLICITORS LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

3.


Employees

The average monthly number of persons (excluding members) employed during the year was as follows:


        2023
        2022
            No.
            No.







Employees
52
46


4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 November 2022
1,687,621


Additions
201,115



At 31 October 2023

1,888,736



Depreciation


At 1 November 2022
1,466,421


Charge for the year on owned assets
99,733



At 31 October 2023

1,566,154



Net book value



At 31 October 2023
322,582



At 31 October 2022
221,200


5.


Fixed asset investments





Investments in associates

£



Cost or valuation


Additions
856,509



At 31 October 2023
856,509




Page 8

 


PRODDOW MACKAY SOLICITORS LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
349,546
300,661

Amounts owed by associated undertakings
2,689,099
3,162,148

Other debtors
-
214,941

Prepayments and accrued income
505,477
740,049

Amounts due from members
4,178,878
4,001,233

7,723,000
8,419,032



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
7,148
349,542

Bank loans
2,210,141
2,508,339

Trade creditors
157,102
166,051

Amounts owed to associates
1,712,445
383,071

Other taxation and social security
1,131,813
934,230

Obligations under finance lease and hire purchase contracts
32,092
33,842

Other creditors
400,000
-

Accruals and deferred income
99,914
624,492

5,750,655
4,999,567


Bank loans and net obligations under finance leases and hire purchase contracts are secured by a fixedand floating charge over all of the current and future property and assets, including debts and fixed assets.


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
3,256,300
4,375,146

Net obligations under finance leases and hire purchase contracts
23,813
19,746

3,280,113
4,394,892


Bank loans and net obligations under finance leases and hire purchase contracts are secured by a fixedand floating charge over all of the current and future property and assets, including debts and fixed assets.

Page 9

 


PRODDOW MACKAY SOLICITORS LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
32,092
33,842

Between 1-5 years
23,813
19,746

55,905
53,588


10.


Provisions





Dilapidation provision

£





Charged to profit or loss
418,856



At 31 October 2023
418,856


11.


Contingent liabilities

The company is part of a VAT group in which all members are jointly and severally liable for any VAT the group owes to HMRC. At 31 October 2023 the overall liability held by this company totals £1,086,681 (2022 - £785,481).


12.


Commitments under operating leases

At 31 October 2023 the LLP had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
74,564
93,527

Later than 1 year and not later than 5 years
119,448
111,725

194,012
205,252

 
Page 10