Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-302false2023-05-01Providing consultancy services2truetruefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC353869 2023-05-01 2024-04-30 OC353869 2022-05-01 2023-04-30 OC353869 2024-04-30 OC353869 2023-04-30 OC353869 c:OfficeEquipment 2023-05-01 2024-04-30 OC353869 c:OfficeEquipment 2024-04-30 OC353869 c:OfficeEquipment 2023-04-30 OC353869 c:CurrentFinancialInstruments 2024-04-30 OC353869 c:CurrentFinancialInstruments 2023-04-30 OC353869 c:CurrentFinancialInstruments c:WithinOneYear 2024-04-30 OC353869 c:CurrentFinancialInstruments c:WithinOneYear 2023-04-30 OC353869 d:FRS102 2023-05-01 2024-04-30 OC353869 d:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 OC353869 d:FullAccounts 2023-05-01 2024-04-30 OC353869 d:LimitedLiabilityPartnershipLLP 2023-05-01 2024-04-30 OC353869 2 2023-05-01 2024-04-30 OC353869 d:PartnerLLP1 2023-05-01 2024-04-30 OC353869 c:FurtherSpecificReserve3ComponentTotalEquity 2024-04-30 OC353869 c:FurtherSpecificReserve3ComponentTotalEquity 2023-04-30 OC353869 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: OC353869










STARSMITH CONSULTANTS LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
STARSMITH CONSULTANTS LLP
REGISTERED NUMBER: OC353869

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
3,836
-

Cash at bank and in hand
 6 
74
57

  
3,910
57

Creditors: Amounts Falling Due Within One Year
 7 
(1,800)
(1,800)

Net current assets/(liabilities)
  
 
 
2,110
 
 
(1,743)

Total assets less current liabilities
  
2,110
(1,743)

  

Net assets/(liabilities) attributable to members
  
2,110
(1,743)


Represented by:
  

Loans and other debts due to/(from) members within one year
  

Other amounts
 8 
2,110
(1,743)

  
2,110
(1,743)

  

  
2,110
(1,743)


Total members' interests
  

Loans and other debts due to/(from) members
 8 
2,110
(1,743)

  
2,110
(1,743)


Page 1

 
STARSMITH CONSULTANTS LLP
REGISTERED NUMBER: OC353869
    
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 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 29 January 2025.




A Chasan
Designated member

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

Starsmith Consultants 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

 
STARSMITH CONSULTANTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

The limited liability partnership is incorporated in England and Wales and the registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW 

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.

 
2.3

Interest income

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

 
2.4

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 .

Page 3

 
STARSMITH CONSULTANTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

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:

Office equipment
-
33%
Straight-line depreciation

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.

 
2.6

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

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.

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
Page 4

 
STARSMITH CONSULTANTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

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 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 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.

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.

Page 5

 
STARSMITH CONSULTANTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

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 year was 2 (2023 - 2).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 May 2023
6,328



At 30 April 2024

6,328



Depreciation


At 1 May 2023
6,328



At 30 April 2024

6,328



Net book value



At 30 April 2024
-



At 30 April 2023
-


5.


Debtors

2024
2023
£
£


Trade debtors
3,836
-


Page 6

 
STARSMITH CONSULTANTS 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
74
57



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Accruals and deferred income
1,800
1,800



8.


Loans and other debts due to/(from) members


2024
2023
£
£



Other amounts due to/(from) members
2,110
(1,743)

Loans and other debts due to/(from) members may be further analysed as follows:

2024
2023
£
£



Falling due within one year
2,110
(1,743)

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

 
Page 7