Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity44truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC422331 2023-03-31 OC422331 2023-04-01 2024-03-31 OC422331 c:KeyManagementIndividualGroup1 2023-04-01 2024-03-31 OC422331 2022-05-01 2023-04-30 OC422331 2024-03-31 OC422331 c:KeyManagementIndividualGroup1 c:OtherTransactionType1 2024-03-31 OC422331 2023-04-30 OC422331 c:ComputerEquipment 2023-04-01 2024-03-31 OC422331 c:ComputerEquipment 2024-03-31 OC422331 c:ComputerEquipment 2023-04-30 OC422331 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC422331 c:CurrentFinancialInstruments 2024-03-31 OC422331 c:CurrentFinancialInstruments 2023-04-30 OC422331 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC422331 c:CurrentFinancialInstruments c:WithinOneYear 2023-04-30 OC422331 d:FRS102 2023-04-01 2024-03-31 OC422331 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC422331 d:FullAccounts 2023-04-01 2024-03-31 OC422331 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC422331 c:WithinOneYear 2024-03-31 OC422331 c:WithinOneYear 2023-04-30 OC422331 c:BetweenOneFiveYears 2024-03-31 OC422331 c:BetweenOneFiveYears 2023-04-30 OC422331 d:PartnerLLP2 2023-04-01 2024-03-31 OC422331 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC422331










PREIM CONSULTANCY LLP








UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2024

 
PREIM CONSULTANCY LLP
REGISTERED NUMBER: OC422331

BALANCE SHEET
AS AT 31 MARCH 2024

31 March 2024
30 April 
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,963
-

Current assets
  

Debtors: amounts falling due within one year
 5 
28,771
30,475

Cash at bank and in hand
  
4,937
9,809

  
33,708
40,284

Creditors: amounts falling due within one year
 6 
(58,983)
(8,816)

Net current (liabilities)/assets
  
 
 
(25,275)
 
 
31,468

Total assets less current liabilities
  
(22,312)
31,468

  

Net (liabilities)/assets
  
(22,312)
31,468


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
  
(22,312)
31,468

  

  
(22,312)
31,468


Total members' interests
  

Loans and other debts due to members
  
(22,312)
31,468

  
(22,312)
31,468


Page 1

 
PREIM CONSULTANCY LLP
REGISTERED NUMBER: OC422331
    
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 by: 




................................................
Mr A J New
Designated member

Date: 11 February 2025

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

Preim Consultancy 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

 
PREIM CONSULTANCY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Preim Consultancy LLP ("the LLP") is an LLP incorporated in England and Wales under the Companies Act.
The registered number and address of the registered office is given in the LLP information.
The functional and presentational currency of the LLP is pounds sterling (£) and rounded to the nearest whole pound.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the LLP's accounting policies.

 
2.2

Going concern

The financial statements have been prepared on a going concern basis which assumes that the LLP will continue in operational existence for the foreseeable future. The validity of this assumption depends upon an improvement in the LLP's trading position and continued financial support from its members and related companies. The financial statements do not include any adjustments that would result if such support is not continuing.

 
2.3

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

 
PREIM CONSULTANCY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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.

At each reporting date the LLP assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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:

Computer equipment
-
20%
reducing balance

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

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.

 
2.6

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.

Page 4

 
PREIM CONSULTANCY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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

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.

  
2.9

 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, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Investments in non-derivative instruments that are equity to the issuer are measured:
•       at fair value with changes recognised in the Statement of comprehensive Income if the shares are publicly traded or their fair value can otherwise be measured reliably;
•           at cost less impairment for all other investments.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive Income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the LLP would receive for the asset if it were to be sold at the balance sheet date.
 
Page 5

 
PREIM CONSULTANCY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees




The average monthly number of employees, including directors, during the period was 4 (2023 - 4).


4.


Tangible fixed assets





Computer equipment

£



Cost


Additions
3,318



At 31 March 2024

3,318



Depreciation


Charge for the period on owned assets
355



At 31 March 2024

355



Net book value



At 31 March 2024
2,963



At 30 April 2023
-

Page 6

 
PREIM CONSULTANCY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

5.


Debtors

31 March 2024
30 April
2023
£
£


Trade debtors
25,197
23,365

Other debtors
2,500
2,500

Prepayments and accrued income
1,074
4,610

28,771
30,475



6.


Creditors: Amounts falling due within one year

31 March 2024
30 April
2023
£
£

Trade creditors
260
3,050

Other taxation and social security
4,968
3,166

Accruals and deferred income
53,755
2,600

58,983
8,816



7.


Commitments under operating leases

At 31 March 2024 the LLP had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

31 March 2024
30 April
2023
£
£


Not later than 1 year
3,421
20,918

Later than 1 year and not later than 5 years
-
5,319

3,421
26,237


8.


Related party transactions

The LLP was owed £2,500 (2023: £2,500) by Newco Property Limited, a company with a director and a shareholder in common with the LLP's member. This balance is included in other debtors, is interest free, unsecured and repayable on demand. 

 
Page 7