Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseEstate management22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC415714 2023-04-01 2024-03-31 OC415714 2022-04-01 2023-03-31 OC415714 2024-03-31 OC415714 2023-03-31 OC415714 c:MotorVehicles 2023-04-01 2024-03-31 OC415714 c:MotorVehicles 2024-03-31 OC415714 c:MotorVehicles 2023-03-31 OC415714 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC415714 c:OfficeEquipment 2023-04-01 2024-03-31 OC415714 c:OfficeEquipment 2024-03-31 OC415714 c:OfficeEquipment 2023-03-31 OC415714 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC415714 c:ComputerEquipment 2023-04-01 2024-03-31 OC415714 c:OtherPropertyPlantEquipment 2024-03-31 OC415714 c:OtherPropertyPlantEquipment 2023-03-31 OC415714 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC415714 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC415714 c:CurrentFinancialInstruments 2024-03-31 OC415714 c:CurrentFinancialInstruments 2023-03-31 OC415714 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC415714 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC415714 d:FRS102 2023-04-01 2024-03-31 OC415714 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC415714 d:FullAccounts 2023-04-01 2024-03-31 OC415714 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC415714 d:PartnerLLP1 2023-04-01 2024-03-31 OC415714 d:PartnerLLP2 2023-04-01 2024-03-31 OC415714 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC415714 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC415714 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC415714









CORBETT NORTHAM LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
CORBETT NORTHAM LLP
 

CONTENTS



Page
Balance Sheet
1 - 2
Notes to the Financial Statements
3 - 7


 
CORBETT NORTHAM LLP
REGISTERED NUMBER: OC415714

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2
2,929

  
2
2,929

Current assets
  

Debtors
 5 
16,819
63,420

Cash at bank and in hand
 6 
9,483
20,341

  
26,302
83,761

Creditors: Amounts Falling Due Within One Year
 7 
(17,982)
(57,110)

Net current assets
  
 
 
8,320
 
 
26,651

Total assets less current liabilities
  
8,322
29,580

  

Net assets
  
8,322
29,580


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 8 
8,322
29,580

  
8,322
29,580

  

  
8,322
29,580


Total members' interests
  

Loans and other debts due to members
 8 
8,322
29,580

  
8,322
29,580


Page 1

 
CORBETT NORTHAM LLP
REGISTERED NUMBER: OC415714
    
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 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: 




................................................
D Corbett
................................................
G Corbett
Designated member
Designated member


Date: 24 January 2025
Date24 January 2025

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

Corbett Northam 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

 
CORBETT NORTHAM LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The principal activity of Corbett Northam LLP ("the LLP") is the provision of property consultancy services.
The LLP was incorporated in England and Wales and the Registered Office Address is Aston House, Cornwall Avenue, London, N3 1LF.

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

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.

Page 3

 
CORBETT NORTHAM LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

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 .

In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.

 
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.

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:

Motor vehicles
-
20%
Office equipment
-
25%
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.

 
2.5

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.

Page 4

 
CORBETT NORTHAM LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Motor vehicles
Office equipment
Other fixed assets
Total

£
£
£
£



Cost or valuation


At 1 April 2023
99,850
553
18,260
118,663



At 31 March 2024

99,850
553
18,260
118,663



Depreciation


At 1 April 2023
99,850
539
15,346
115,735


Charge for the year on owned assets
-
13
2,913
2,926



At 31 March 2024

99,850
552
18,259
118,661



Net book value



At 31 March 2024
-
1
1
2



At 31 March 2023
-
15
2,914
2,929

Page 5

 
CORBETT NORTHAM LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£



Trade debtors
13,200
61,800

Other debtors
1,175
120

Prepayments and accrued income
2,444
1,500

16,819
63,420



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
9,483
20,341

9,483
20,341



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
13,867
53,307

Other taxation and social security
-
1,713

Accruals and deferred income
4,115
2,090

17,982
57,110


Page 6

 
CORBETT NORTHAM LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
8,322
29,580

8,322
29,580

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

2024
2023
£
£



Falling due within one year
8,322
29,580

8,322
29,580

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

 
Page 7