Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-3038The principal activity of Sayers Butterworth LLP during the year was that of Chartered Accountants, Chartered Tax Advisors and Business Consultants.false2023-05-0141truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC311795 2023-05-01 2024-04-30 OC311795 2022-05-01 2023-04-30 OC311795 2024-04-30 OC311795 2023-04-30 OC311795 c:Director3 2023-05-01 2024-04-30 OC311795 c:Director4 2023-05-01 2024-04-30 OC311795 c:Director5 2023-05-01 2024-04-30 OC311795 c:Director6 2023-05-01 2024-04-30 OC311795 d:Buildings d:ShortLeaseholdAssets 2023-05-01 2024-04-30 OC311795 d:Buildings d:ShortLeaseholdAssets 2024-04-30 OC311795 d:Buildings d:ShortLeaseholdAssets 2023-04-30 OC311795 d:FurnitureFittings 2023-05-01 2024-04-30 OC311795 d:FurnitureFittings 2024-04-30 OC311795 d:FurnitureFittings 2023-04-30 OC311795 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 OC311795 d:ComputerEquipment 2023-05-01 2024-04-30 OC311795 d:ComputerEquipment 2024-04-30 OC311795 d:ComputerEquipment 2023-04-30 OC311795 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 OC311795 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 OC311795 d:CurrentFinancialInstruments 2024-04-30 OC311795 d:CurrentFinancialInstruments 2023-04-30 OC311795 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 OC311795 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 OC311795 c:FRS102 2023-05-01 2024-04-30 OC311795 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 OC311795 c:FullAccounts 2023-05-01 2024-04-30 OC311795 c:LimitedLiabilityPartnershipLLP 2023-05-01 2024-04-30 OC311795 d:WithinOneYear 2024-04-30 OC311795 d:WithinOneYear 2023-04-30 OC311795 d:BetweenOneFiveYears 2024-04-30 OC311795 d:BetweenOneFiveYears 2023-04-30 OC311795 d:MoreThanFiveYears 2024-04-30 OC311795 d:MoreThanFiveYears 2023-04-30 OC311795 2 2023-05-01 2024-04-30 OC311795 c:PartnerLLP1 2023-05-01 2024-04-30 OC311795 c:PartnerLLP2 2023-05-01 2024-04-30 OC311795 c:PartnerLLP3 2023-05-01 2024-04-30 OC311795 c:PartnerLLP4 2023-05-01 2024-04-30 OC311795 c:PartnerLLP5 2023-05-01 2024-04-30 OC311795 c:PartnerLLP6 2023-05-01 2024-04-30 OC311795 c:PartnerLLP7 2023-05-01 2024-04-30 OC311795 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure
Registered number: OC311795










SAYERS BUTTERWORTH LLP
UNAUDITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




















 
SAYERS BUTTERWORTH LLP
 

Information



Designated Members
Mr MW Wright (resigned 30 April 2024)
Mr PE Ffitch
Mr AK Burch
Mr MB Bird
Mr JR Hearsey
Mr PS Taylor (appointed 19 August 2024)
Mrs HD Clegg (appointed 30 April 2024)

LLP registered number
OC311795

Registered office
3rd Floor
12 Gough Square
London
EC4A 3DW


 
SAYERS BUTTERWORTH LLP
Registered number: OC311795

Balance sheet
As at 30 April 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
72,847
92,498

  
72,847
92,498

Current assets
  

Debtors: amounts falling due within one year
 5 
2,448,925
2,138,665

Cash at bank and in hand
 6 
1,016,674
885,092

  
3,465,599
3,023,757

Creditors: amounts falling due within one year
 7 
(310,497)
(438,108)

Net current assets
  
 
 
3,155,102
 
 
2,585,649

Total assets less current liabilities
  
3,227,949
2,678,147

  

Net assets
  
3,227,949
2,678,147


Represented by:
  

Loans and other debts due to members
  

Members' capital classified as a liability
 8 
300,000
300,000

Other amounts
 8 
2,927,949
2,378,147

  

  
3,227,949
2,678,147


Total members' interests
  

Loans and other debts due to members
  
3,227,949
2,678,147

  
3,227,949
2,678,147

Page 1

 
SAYERS BUTTERWORTH LLP
Registered number: OC311795
    
Balance sheet (continued)
As at 30 April 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 14 January 2025.




Mr PE Ffitch
Mr AK Burch
Designated member
Designated member



Mr MB Bird
Designated member



Mr JR Hearsey
Designated member



Mr PS Taylor
Designated member



Mrs HD Clegg
Designated member

The notes on pages 3 to 8 form part of these financial statements.

Sayers Butterworth 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

 
SAYERS BUTTERWORTH LLP
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

1.


General information

Sayers Butterworth LLP is a limited liability partnership incorporated in the United Kingdom and registered in England and Wales.  The partnership's registered office is 3rd Floor, 12 Gough Square, London, EC4A 3DW.

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

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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

Operating leases: the LLP as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

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

Page 3

 
SAYERS BUTTERWORTH LLP
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

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

Pensions

The LLP operates both a defined contribution and a defined benefit pension scheme. 

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.

Defined benefit pension plan

Formal actuarial valuations are carried out every three years.  The profit and loss account includes the expected return on scheme assets and the interest cost on scheme liabilities.  Actuarial gains and losses are recognised directly to members' interests through the statement of total recognised gains and losses.  Details in relation to the scheme are set out in Note 9 to the accounts.

 
2.7

Taxation

The taxation payable on profits is the personal liability of the members.

 
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 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 in the profit and loss account.

 
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.

Page 4

 
SAYERS BUTTERWORTH LLP
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

2.Accounting policies (continued)


2.9
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:

Leasehold improvements
-
Life of the lease
Fixtures & fittings
-
10-20% Straight line
Computer equipment
-
20% 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.

 
2.10

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.

 
2.11

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

 
SAYERS BUTTERWORTH LLP
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

3.


Employees

The average monthly number of employees during the year was 41 (2023 - 38).


4.


Tangible fixed assets





S/Term Leasehold Property
Fixtures & fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 May 2023
112,700
92,009
322,905
527,614


Additions
-
462
16,537
16,999


Disposals
(815)
-
(21,373)
(22,188)



At 30 April 2024

111,885
92,471
318,069
522,425



Depreciation


At 1 May 2023
86,790
87,419
260,907
435,116


Charge for the year on owned assets
3,949
3,115
18,752
25,816


Disposals
(570)
-
(10,784)
(11,354)



At 30 April 2024

90,169
90,534
268,875
449,578



Net book value



At 30 April 2024
21,716
1,937
49,194
72,847



At 30 April 2023
25,910
4,590
61,998
92,498


5.


Debtors

2024
2023
£
£


Trade debtors
1,480,984
1,196,976

Amounts recoverable on contracts
621,640
629,324

Other debtors
44,663
35,340

Prepayments and accrued income
301,638
277,025

2,448,925
2,138,665


Page 6

 
SAYERS BUTTERWORTH LLP
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,016,674
885,092

1,016,674
885,092



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
136,122
150,484

Other taxation and social security
109,716
117,481

Other creditors
9,708
4,333

Accruals and deferred income
54,951
165,810

310,497
438,108



8.


Loans and other debts due to members


2024
2023
£
£



Members' capital treated as debt
300,000
300,000

Other amounts due to members
2,927,949
2,378,147

3,227,949
2,678,147

Loans and other debts due to members may be further analysed as follows:

2024
2023
£
£



Falling due within one year
3,227,949
2,678,147

3,227,949
2,678,147

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up apart from a loan of £303,260 (2023: £546,518) invested by a corporate member of the LLP, which is secured on the partnership assets. 

Page 7

 
SAYERS BUTTERWORTH LLP
 
 
 
Notes to the financial statements
For the Year Ended 30 April 2024

9.


Pension commitments


Defined contribution scheme
The LLP operates defined contribution pension schemes for the benefit of the employees.  The assets of these schemes are held separately from those of the LLP.  The total contributions paid in the year amounted to £42,607 (2023: £60,188).  There were no unpaid contributions included in creditors at the year end. 

Defined benefit scheme
The LLP is the Principal Employer of the funded defined benefit scheme known as the Sayers Butterworth LLP Retirement Benefit Scheme which is for certain employees and former employees and was closed to new members from 1 May 2004.  The scheme does not accrue any further entitlement for employees service after 30 April 2004.  The assets of the scheme are held separately from those of the LLP.  The scheme is non-contributory and is not contracted out of the state scheme.  Current service contributions are charged to the profit and loss account as part of employment pension costs. 
A full actuarial valuation was undertaken on 1 May 2021 by a qualified actuary from Royal London.  The values of the scheme assets and liabilities at the current and previous actuarial valuation dates are set out below.  Applying various assumptions the scheme had a surplus of £34,000.
 

2024
2023
        £
        £
Fair value of scheme assets

1,635,000

1,635,000
 
Present value of scheme liabilities

(1,601,000)

(1,601,000)
 
Surplus

34,000

34,000
 

Contributions made by the LLP in the year were £nil (2023 - £nil).  
The date of the next actuarial valuation is 1 May 2024.


10.


Commitments under operating leases

At 30 April 2024 the LLP had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
164,921
337,441

Later than 1 year and not later than 5 years
1,229,672
1,103,505

Later than 5 years
153,709
461,127

1,548,302
1,902,073

 
Page 8