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REGISTERED NUMBER: OC345968 (England and Wales)















Financial Statements

for the Year Ended 30 June 2024

for

Collingwood Rigby LLP

Collingwood Rigby LLP (Registered number: OC345968)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

General Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6


Collingwood Rigby LLP

General Information
for the Year Ended 30 June 2024







DESIGNATED MEMBERS: Mr D S Burns
Mr R H Jeffries
Mr R J B Mackenzie
Mr J N Moss
Mr S J Pitchford
Mr J C G Ward
Mr A W S Wood





REGISTERED OFFICE: Ipsley Barn
Berrington Close
Ipsley
Worcestershire
B98 0TJ





REGISTERED NUMBER: OC345968 (England and Wales)





AUDITORS: Grenfell James Audit LLP, Statutory Auditor
13 The Courtyard
Timothy's Bridge Road
Stratford Upon Avon
Warwickshire
CV37 9NP

Collingwood Rigby LLP (Registered number: OC345968)

Statement of Financial Position
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,487 15,161

CURRENT ASSETS
Debtors 5 1,032,684 525,045
Cash at bank 1,668,061 1,376,136
2,700,745 1,901,181
CREDITORS
Amounts falling due within one year 6 475,977 293,332
NET CURRENT ASSETS 2,224,768 1,607,849
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,232,255

1,623,010

CREDITORS
Amounts falling due after more than one
year

7

119,903

37,035
NET ASSETS ATTRIBUTABLE TO
MEMBERS

2,112,352

1,585,975

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

2,052,352

1,485,975

MEMBERS' OTHER INTERESTS
Capital accounts 60,000 100,000
2,112,352 1,585,975

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 2,052,352 1,485,975
Members' other interests 60,000 100,000
2,112,352 1,585,975

Collingwood Rigby LLP (Registered number: OC345968)

Statement of Financial Position - continued
30 June 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 10 December 2024 and were signed by:





Mr J N Moss - Designated member

Collingwood Rigby LLP (Registered number: OC345968)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Collingwood Rigby LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
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 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 the 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

Collingwood Rigby LLP (Registered number: OC345968)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Members' participating interests
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classes as liabilities unless the LLP has an unconditional right to refuse payments to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within 'Members' remuneration charged as an expense' in arriving at the relevant year's result. Undivided amounts that are classified as equity are shown within 'Members' other interests'. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members' interests.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as 'Loans and other debts due to members' to the extent they exceed debts due from a specific member.

Profits are allocated to members based on a fixed amount plus a share of the remaining profit. The fixed amounts are paid monthly, and the remaining profit is distributed annually in a final distribution of profits which is made upon completion of the annual accounts and is based on pre-determined rations in accordance with the partners agreement.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 15 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2023 17,977 26,716 44,693
Additions - 1,248 1,248
At 30 June 2024 17,977 27,964 45,941
DEPRECIATION
At 1 July 2023 11,022 18,510 29,532
Charge for year 3,394 5,528 8,922
At 30 June 2024 14,416 24,038 38,454
NET BOOK VALUE
At 30 June 2024 3,561 3,926 7,487
At 30 June 2023 6,955 8,206 15,161

Collingwood Rigby LLP (Registered number: OC345968)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 937,910 476,418
Other debtors 94,774 48,627
1,032,684 525,045

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 24,193 43,022
Taxation and social security 271,160 145,628
Other creditors 180,624 104,682
475,977 293,332

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 119,903 37,035

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 22,000 13,917
Between one and five years 8,548 -
30,548 13,917

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

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

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Edward Grenfell James (Senior Statutory Auditor)
for and on behalf of Grenfell James Audit LLP, Statutory Auditor