Caseware UK (AP4) 2023.0.135 2023.0.135 true2023-04-01falseNo description of principal activity1212trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC402058 2023-03-31 OC402058 2023-04-01 2024-03-31 OC402058 2022-05-01 2023-04-30 OC402058 2024-03-31 OC402058 2023-04-30 OC402058 c:FurnitureFittings 2023-04-01 2024-03-31 OC402058 c:FurnitureFittings 2024-03-31 OC402058 c:FurnitureFittings 2023-04-30 OC402058 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC402058 c:CurrentFinancialInstruments 2024-03-31 OC402058 c:CurrentFinancialInstruments 2023-04-30 OC402058 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC402058 c:CurrentFinancialInstruments c:WithinOneYear 2023-04-30 OC402058 d:FRS102 2023-04-01 2024-03-31 OC402058 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC402058 d:FullAccounts 2023-04-01 2024-03-31 OC402058 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC402058 c:WithinOneYear 2024-03-31 OC402058 c:WithinOneYear 2023-04-30 OC402058 c:BetweenOneFiveYears 2024-03-31 OC402058 c:BetweenOneFiveYears 2023-04-30 OC402058 2 2023-04-01 2024-03-31 OC402058 d:PartnerLLP1 2023-04-01 2024-03-31 OC402058 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC402058 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-04-30 OC402058 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC402058 c:FurtherSpecificReserve3ComponentTotalEquity 2023-04-30 OC402058 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure


















Fietta LLP























Unaudited

Financial statements



for the period ended 31 March 2024



Registered number: OC402058

 
Fietta LLP - Registered number:OC402058


Statement of financial position
As at 31 March 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Tangible fixed assets
 4 
11,703
10,460

  
11,703
10,460

Current assets
  

Debtors: amounts falling due within one year
 5 
1,351,683
1,211,368

Cash at bank and in hand
  
340,621
401,840

  
1,692,304
1,613,208

Creditors: amounts falling due within one year
 6 
(1,074,577)
(443,782)

Net current assets
  
 
 
617,727
 
 
1,169,426

Total assets less current liabilities
  
629,430
1,179,886

  

Net assets
  
629,430
1,179,886


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 7 
179,430
593,886

  
179,430
593,886

Members' other interests
  

Members' capital classified as equity
  
450,000
586,000

  
 
450,000
 
586,000

  
629,430
1,179,886


Total members' interests
  

Loans and other debts due to members
 7 
179,430
593,886

Members' other interests
  
450,000
586,000

  
629,430
1,179,886


Page 1

 
Fietta LLP - Registered number:OC402058


Statement of financial position (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 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 by: 




S Fietta
Designated member

Date: 15 January 2025

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

Page 2

 
Fietta LLP
 
 

Notes to the financial statements
For the period ended 31 March 2024

1.


General information

Fietta LLP is a limited liability partnership incorporated in England & Wales. The registered office and principal place of business is 1 Fitzroy Square, London, England, W1T 5HF. The registered number is OC402058.

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 Section 1A of Financial Reporting Standard 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement 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

Members' remuneration

Members' remuneration charged as an expense in the profit and loss account relates to amounts allocated during or at the period end.

Page 3

 
Fietta LLP
 

Notes to the financial statements
For the period ended 31 March 2024

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The LLP's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.5

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.

 
2.6

Interest income

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

 
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

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

 
Fietta LLP
 

Notes to the financial statements
For the period ended 31 March 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
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.

  
2.9

Tax provisions

Taxation on the profits of the LLP is solely the liability of individual members. Therefore, neither income tax nor deferred tax arising in respect of the LLP's profit is included in these financial statements.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.11

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.12

Creditors

Short-term creditors are measured at the transaction price.

  
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.

  
2.14

Transfer of members' interests

During the year £(100,407) was transferred from members' capital interests to debts due to members.


3.


Employees

The average monthly number of employees during the year was 12 (2023 - 12).

Page 5

 
Fietta LLP
 
 

Notes to the financial statements
For the period ended 31 March 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 May 2023
33,279


Additions
4,349



At 31 March 2024

37,628



Depreciation


At 1 May 2023
22,819


Charge for the period
3,106



At 31 March 2024

25,925



Net book value



At 31 March 2024
11,703



At 31 March 2023
10,460


5.


Debtors

2024
2023
£
£


Trade debtors
648,643
470,147

Other debtors
30,545
137,093

Prepayments
136,357
96,549

Amounts recoverable on long-term contracts
536,138
507,579

1,351,683
1,211,368


Page 6

 
Fietta 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
241,379
-

Other taxation and social security
39,197
36,160

Other creditors
107,153
5,932

Accruals and deferred income
686,848
401,690

1,074,577
443,782



7.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
179,430
593,886

179,430
593,886


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


8.


Pension commitments

The LLP operates a defined contributions pension scheme on behalf of its employees. The assets of the scheme are held separately from those of the LLP in an independently administered fund. Contributions totaling £32,114 (2023: £37,747) were paid by the LLP to the fund during the period. Contributions payable at the period end were £6,746 (2023: £5,932).


9.


Operating lease commitments

At 31 March 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
90,000
135,000

Later than 1 year and not later than 5 years
-
78,750

90,000
213,750


Page 7