Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false22023-05-01No description of principal activity3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC374618 2023-05-01 2024-03-31 OC374618 2022-05-01 2023-04-30 OC374618 2024-03-31 OC374618 2023-04-30 OC374618 c:PlantMachinery 2023-05-01 2024-03-31 OC374618 c:PlantMachinery 2024-03-31 OC374618 c:PlantMachinery 2023-04-30 OC374618 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-05-01 2024-03-31 OC374618 c:OfficeEquipment 2023-05-01 2024-03-31 OC374618 c:OfficeEquipment 2024-03-31 OC374618 c:OfficeEquipment 2023-04-30 OC374618 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-05-01 2024-03-31 OC374618 c:OwnedOrFreeholdAssets 2023-05-01 2024-03-31 OC374618 c:CurrentFinancialInstruments 2024-03-31 OC374618 c:CurrentFinancialInstruments 2023-04-30 OC374618 c:CurrentFinancialInstruments 2 2024-03-31 OC374618 c:CurrentFinancialInstruments 2 2023-04-30 OC374618 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC374618 c:CurrentFinancialInstruments c:WithinOneYear 2023-04-30 OC374618 e:FRS102 2023-05-01 2024-03-31 OC374618 e:AuditExempt-NoAccountantsReport 2023-05-01 2024-03-31 OC374618 e:FullAccounts 2023-05-01 2024-03-31 OC374618 e:LimitedLiabilityPartnershipLLP 2023-05-01 2024-03-31 OC374618 2 2023-05-01 2024-03-31 OC374618 e:PartnerLLP1 2023-05-01 2024-03-31 OC374618 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC374618 c:FurtherSpecificReserve3ComponentTotalEquity 2023-04-30 OC374618 f:PoundSterling 2023-05-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC374618









YEATES DESIGN LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
YEATES DESIGN LLP
REGISTERED NUMBER: OC374618

BALANCE SHEET
AS AT 31 MARCH 2024

31 March
30 April
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,698
358

  
1,698
358

Current assets
  

Debtors: amounts falling due within one year
 5 
133,283
132,158

Cash at bank and in hand
 6 
282
333

  
133,565
132,491

Creditors: Amounts Falling Due Within One Year
 7 
(74,730)
(67,449)

Net current assets
  
 
 
58,835
 
 
65,042

Total assets less current liabilities
  
60,533
65,400

  

Net assets
  
60,533
65,400


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 8 
60,533
65,400

  
60,533
65,400

  

  
60,533
65,400


Total members' interests
  

Amounts due from members (included in debtors)
 5 
(130,860)
(120,342)

Loans and other debts due to members
 8 
60,533
65,400

  
(70,327)
(54,942)


Page 1

 
YEATES DESIGN LLP
REGISTERED NUMBER: OC374618
    
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 profit and loss account 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 23 January 2025.




Mr N J Yeates
Designated member

The notes on pages 4 to 10 form part of these financial statements.

Yeates Design 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

 
YEATES DESIGN LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE PERIOD ENDED 31 MARCH 2024






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
Total
Other amounts
Total
Total

£
£
£
£
£

Profit for the period available for discretionary division among members
 
101,606
101,606
-
-
101,606

Members' interests after profit for the period
101,606
101,606
(37,831)
(37,831)
63,775

Other division of profits
(101,606)
(101,606)
101,606
101,606
-

Drawings
 
-
-
(118,717)
(118,717)
(118,717)

Amounts due to members
65,400
65,400

Amounts due from members
 


(120,342)
(120,342)


Balance at 30 April 2023
-
-
(54,942)
(54,942)
(54,942)

Profit for the period available for discretionary division among members
 
25,612
25,612
-
-
25,612

Members' interests after profit for the period
25,612
25,612
(54,942)
(54,942)
(29,330)

Other division of profits
(25,612)
(25,612)
25,612
25,612
-

Drawings
 
-
-
(40,997)
(40,997)
(40,997)

Amounts due to members
60,533
60,533

Amounts due from members
 


(130,860)
(130,860)


Balance at 31 March 2024 
-
-
(70,327)
(70,327)
(70,327)

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

 
YEATES DESIGN LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Yeates Design LLP is a limited liability partnership incorporated in England. Its registered office is Uprising, Rye Hill, Rye, United Kingdom, TN31 7NH.

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 financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

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

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.

 
2.5

Borrowing costs

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

Page 4

 
YEATES DESIGN LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

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 Balance Sheet. The assets of the plan are held separately from the LLP in independently administered funds.

 
2.7

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 .

 
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.

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
-
25%
straight line basis
Office equipment
-
25%
straight line basis

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.

Page 5

 
YEATES DESIGN LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

Financial instruments

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

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs 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 receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual
Page 6

 
YEATES DESIGN LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.12
Financial instruments (continued)

arrangements entered into. An equity instruments 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 payables, bank loans and other loans are initially measured at their transaction price after transaction costs. 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 where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables 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.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the LLP transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the LLP will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the LLP's contractual obligations expire or are discharged or cancelled.


3.


Employees




The average monthly number of employees, including directors, during the period was 2 (2023 - 3).

Page 7

 
YEATES DESIGN LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Tangible fixed assets







Plant and machinery
Office equipment
Total

£
£
£



Cost or valuation


At 1 May 2023
15,002
3,321
18,323


Additions
-
1,833
1,833


Disposals
(15,002)
(2,488)
(17,490)



At 31 March 2024

-
2,666
2,666



Depreciation


At 1 May 2023
15,002
2,963
17,965


Charge for the period on owned assets
-
482
482


Disposals
(15,002)
(2,477)
(17,479)



At 31 March 2024

-
968
968



Net book value



At 31 March 2024
-
1,698
1,698



At 30 April 2023
-
358
358

Page 8

 
YEATES DESIGN LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

5.


Debtors

31 March
30 April
2024
2023
£
£


Trade debtors
30
10,690

Prepayments and accrued income
2,393
1,126

Amounts due from members
130,860
120,342

133,283
132,158



6.


Cash and cash equivalents

31 March
30 April
2024
2023
£
£

Cash at bank and in hand
282
333

Less: bank overdrafts
(21,598)
(12,513)

(21,316)
(12,180)



7.


Creditors: Amounts falling due within one year

31 March
30 April
2024
2023
£
£

Bank overdrafts
21,598
12,513

Trade creditors
40,156
36,916

Other taxation and social security
4,909
12,055

Other creditors
2,854
1,805

Accruals and deferred income
5,213
4,160

74,730
67,449


Page 9

 
YEATES DESIGN LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

8.


Loans and other debts due to members


31 March
30 April
2024
2023
£
£



Other amounts due to members
60,533
65,400

60,533
65,400

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

31 March
30 April
2024
2023
£
£



Falling due within one year
60,533
65,400

60,533
65,400

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


9.


Pension commitments

The LLP operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the LLP in an independently administered fund. The pension cost charge represents contributions payable by the LLP to the fund and amounted to £983  (2023 - £1,606). 

Page 10