Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-31true2023-09-01falseNo description of principal activity2625trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC352169 2023-09-01 2024-08-31 OC352169 2022-09-01 2023-08-31 OC352169 2024-08-31 OC352169 2023-08-31 OC352169 c:Buildings 2023-09-01 2024-08-31 OC352169 c:Buildings 2024-08-31 OC352169 c:Buildings 2023-08-31 OC352169 c:Buildings c:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 OC352169 c:Buildings c:LongLeaseholdAssets 2023-09-01 2024-08-31 OC352169 c:FurnitureFittings 2023-09-01 2024-08-31 OC352169 c:FurnitureFittings 2024-08-31 OC352169 c:FurnitureFittings 2023-08-31 OC352169 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 OC352169 c:ComputerEquipment 2023-09-01 2024-08-31 OC352169 c:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 OC352169 c:CurrentFinancialInstruments 2024-08-31 OC352169 c:CurrentFinancialInstruments 2023-08-31 OC352169 c:CurrentFinancialInstruments c:WithinOneYear 2024-08-31 OC352169 c:CurrentFinancialInstruments c:WithinOneYear 2023-08-31 OC352169 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-08-31 OC352169 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-08-31 OC352169 d:FRS102 2023-09-01 2024-08-31 OC352169 d:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 OC352169 d:FullAccounts 2023-09-01 2024-08-31 OC352169 d:LimitedLiabilityPartnershipLLP 2023-09-01 2024-08-31 OC352169 2 2023-09-01 2024-08-31 OC352169 d:PartnerLLP1 2023-09-01 2024-08-31 OC352169 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-08-31 OC352169 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-08-31 OC352169 c:FurtherSpecificReserve2ComponentTotalEquity 2024-08-31 OC352169 c:FurtherSpecificReserve2ComponentTotalEquity 2023-08-31 OC352169 c:FurtherSpecificReserve3ComponentTotalEquity 2024-08-31 OC352169 c:FurtherSpecificReserve3ComponentTotalEquity 2023-08-31 OC352169 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number:  OC352169














THE BELVEDERE PREPARATORY SCHOOL LLP
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


 
THE BELVEDERE PREPARATORY SCHOOL LLP
REGISTERED NUMBER: OC352169

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
451,639
480,667

  
451,639
480,667

Current assets
  

Stocks
  
1,773
2,019

Debtors: amounts falling due within one year
 5 
42,258
36,556

Cash at bank and in hand
 6 
122,463
92,873

  
166,494
131,448

Creditors: Amounts Falling Due Within One Year
 7 
(336,518)
(316,814)

Net current liabilities
  
 
 
(170,024)
 
 
(185,366)

Total assets less current liabilities
  
281,615
295,301

  

Net assets
  
281,615
295,301


Represented by:
  

Loans and other debts due to members within one year
  

Members' capital classified as a liability
  
363,356
363,356

  
363,356
363,356

Members' other interests
  

Members' capital classified as equity
  
160,069
460,069

Other reserves classified as equity
  
(241,810)
(528,124)

  
 
(81,741)
 
(68,055)

  
281,615
295,301


Total members' interests
  

Loans and other debts due to members
  
363,356
363,356

Members' other interests
  
(81,741)
(68,055)

  
281,615
295,301


Page 1

 
THE BELVEDERE PREPARATORY SCHOOL LLP
REGISTERED NUMBER: OC352169
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 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 on 13 January 2025.




W. C. Currie
Designated member

The notes on pages 4 to 9 form part of these financial statements.

The Belvedere Preparatory School 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
 

 
THE BELVEDERE PREPARATORY SCHOOL LLP


 

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







EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Other reserves
Total
Members' capital (classified as debt)
Total
Total

£
£
£
£
£
£

Profit for the year available for discretionary division among members
 
-
227,923
227,923
-
-
227,923

Members' interests after profit for the year
1,060,069
(528,124)
531,945
363,356
363,356
895,301

Repayment of capital
(600,000)
-
(600,000)
-
-
(600,000)

Amounts due to members
363,356
363,356

Balance at 31 August 2023
460,069
(528,124)
(68,055)
363,356
363,356
295,301

Profit for the year available for discretionary division among members
 
-
286,314
286,314
-
-
286,314

Members' interests after profit for the year
460,069
(241,810)
218,259
363,356
363,356
581,615

Repayment of capital
(300,000)
-
(300,000)
-
-
(300,000)

Amounts due to members
363,356
363,356

Balance at 31 August 2024 
160,069
(241,810)
(81,741)
363,356
363,356
281,615

The notes on pages 4 to 9 form part of these financial statements.

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 3
 
THE BELVEDERE PREPARATORY SCHOOL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

The Belvedere Preparatory School LLP is a limited liability partnership, which is incorporated and registered in England and Wales (no. OC352169). The address of the registered office is 3rd Floor, Castle Chambers, Castle Street, Liverpool, L2 9SH.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the LLP's accounting policies.

The following principal accounting policies have been applied:

 
2.2

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.

 
2.3

Interest income

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

 
2.4

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.

Page 4

 
THE BELVEDERE PREPARATORY SCHOOL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

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:

Freehold property
-
freehold property is not depreciated
Enhancements to freehold property
-
2 - 20% straight line
Fixtures & fittings
-
15% straight line
Computer equipment
-
33% straight line

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.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

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.

 
2.7

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.

 
2.8

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 5

 
THE BELVEDERE PREPARATORY SCHOOL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

  
2.9

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 the Statement of comprehensive income 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.
Defined benefit pension scheme
The LLP contributes to the Teachers' Pension Scheme which is a multi-employer defined benefit state pension scheme and it accounts for the scheme as a defined contribution scheme. Contribution rates are determined by the Teachers' Pension Scheme.

 
2.10

Financial instruments

The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the LLP's Balance sheet when the LLP becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The LLP's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the LLP after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted
Page 6

 
THE BELVEDERE PREPARATORY SCHOOL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)

where the effect of discounting is immaterial.

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

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


3.


Employees

The average monthly number of employees, including directors, during the year was 26 (2023 - 25).


4.


Tangible fixed assets





Freehold property
Fixtures, fittings & computers
Total

£
£
£



Cost or valuation


At 1 September 2023
596,176
357,430
953,606


Additions
-
4,562
4,562



At 31 August 2024

596,176
361,992
958,168



Depreciation


At 1 September 2023
166,264
306,675
472,939


Charge for the year on owned assets
16,377
17,213
33,590



At 31 August 2024

182,641
323,888
506,529



Net book value



At 31 August 2024
413,535
38,104
451,639



At 31 August 2023
429,912
50,755
480,667

Page 7

 
THE BELVEDERE PREPARATORY SCHOOL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Debtors

2024
2023
£
£


Trade debtors
1,761
3,162

Prepayments and accrued income
40,497
33,394

42,258
36,556



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
122,463
92,873

122,463
92,873



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
4,848
145

Other taxation and social security
13,776
12,604

Other creditors
307,737
298,460

Accruals and deferred income
10,157
5,605

336,518
316,814



8.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
122,463
92,873

122,463
92,873





Financial assets measured at fair value through profit or loss comprise of bank and cash balances.

Page 8

 
THE BELVEDERE PREPARATORY SCHOOL LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

9.


Pension commitments

The entity contributes to the Teachers' Pension Scheme, a defined benefit 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 £139,278 (2023: 
£119,006). 
Contributions totalling £538 (2023:
 £638) were payable to the fund at the balance sheet date.


10.


Related party transactions


2024
2023
£
£

London Teaching Supply Ltd - Purchases from
26,244
26,065

London Teaching Supply Ltd is a company controlled by W C Currie at the balance sheet date.


11.


Controlling party

The LLP is controlled by its members.

 
Page 9