Registration number:
BTVK ADVISORY LLP
for the Year Ended 31 May 2024
BTVK ADVISORY LLP
Contents
Limited liability partnership information |
|
Members' Report |
|
Statement of Members' Responsibilities |
|
Independent Auditor's Report |
|
Financial Statements |
|
Profit and Loss Account |
|
Balance Sheet |
|
Statement of Changes in Members’ Interests |
|
Cash Flow Statement |
|
Notes to the Financial Statements |
BTVK ADVISORY LLP
Limited liability partnership information
Designated members |
|
Registered office |
|
Auditors |
|
BTVK ADVISORY LLP
Members' Report for the Year Ended 31 May 2024
The members present their report and the financial statements for the year ended 31 May 2024.
Designated members
The members who held office during the year were as follows:
The following member was appointed after the year end:
Members' drawings and the subscription and repayment of members' capital
The policies of BTVK Advisory LLP regarding the allocation of profits to Members' are disclosed in the accounting policies
Disclosure of information to the auditors
Each member has taken steps that they ought to have taken as a member in order to make themselves aware of any relevant audit information and to establish that the limited liability partnership's auditors are aware of that information. The members confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Approved by the
......................................... |
BTVK ADVISORY LLP
Statement of Members' Responsibilities for the Year Ended 31 May 2024
The members are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
The Limited Liability Partnerships (Accounts & Audit) (Application of Companies Act 2006) Regulations 2008 require the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under Company law as applied to LLPs the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the limited liability partnership and of the profit or loss of the limited liability partnership for that year. In preparing these financial statements, the members are required to:
• |
select suitable accounting policies and then apply them consistently; |
• |
make judgements and accounting estimates that are reasonable and prudent; |
• |
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Partnership will continue in business. |
The members are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the limited liability partnership and enable them to ensure that the financial statements comply with the Companies Act 2006, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, and in accordance with the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships (issued January 2017). They are also responsible for safeguarding the assets of the limited liability partnership and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
These responsibilities are exercised by the Board on behalf of the members.
BTVK ADVISORY LLP
Independent Auditor's Report to the Members of BTVK ADVISORY LLP
Opinion
We have audited the financial statements of BTVK ADVISORY LLP (the ‘limited liability partnership’) for the year ended 31 May 2024, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Members’ Interests, Cash Flow Statement, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the limited liability partnership's affairs as at 31 May 2024 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006, as applied to limited liability partnerships. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the limited liability partnership in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the members' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements are authorised for issue.
Our responsibilities and the responsibilities of the members with respect to going concern are described in the relevant sections of this report.
Other information
The members are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
BTVK ADVISORY LLP
Independent Auditor's Report to the Members of BTVK ADVISORY LLP (continued)
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept by the limited liability partnership, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the limited liability partnership financial statements are not in agreement with the accounting records and returns; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of members
As explained more fully in the Statement of Members' Responsibilities [set out on page 3], the members are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the members determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the members are responsible for assessing the limited liability partnership's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the members either intend to liquidate the limited liability partnership or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
BTVK ADVISORY LLP
Independent Auditor's Report to the Members of BTVK ADVISORY LLP (continued)
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:
We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and enquiries of legal counsel. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.
As in all our audits, we also addressed the risk of management override of internal controls by testing journal entries and evaluating whether there was evidence of management bias which represented a risk of material misstatement due to fraud.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the limited liability partnership’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts & Audit) (Application of Companies Act 2006) Regulations 2008. Our audit work has been undertaken so that we might state to the limited liability partnership’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the limited liability partnership, and the limited liability partnership members as a body, for our audit work, for this report, or for the opinions we have formed.
......................................
For and on behalf of
5th Floor, North Side
7/10 Chandos Street
W1G 9DQ
BTVK ADVISORY LLP
Profit and Loss Account for the Year Ended 31 May 2024
Note |
Total |
Total |
|
Turnover |
|
|
|
Cost of sales |
( |
( |
|
Gross profit |
|
|
|
Administrative expenses |
( |
( |
|
Other operating income |
- |
|
|
Operating profit |
|
|
|
Other interest receivable and similar income |
|
|
|
Interest payable and similar expenses |
( |
( |
|
Profit for the year before members' remuneration and profit shares |
|
|
|
Members' remuneration charged as an expense |
(5,954,919) |
(4,457,327) |
|
Profit/(loss) for the year available for discretionary division among members |
- |
- |
Turnover and operating profit derive wholly from continuing operations.
The limited liability partnership has no recognised gains or losses for the year other than the results above.
BTVK ADVISORY LLP
(Registration number: OC304572)
Balance Sheet as at 31 May 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Intangible assets |
|
|
|
Tangible assets |
|
|
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Cash and short-term deposits |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
- |
( |
|
Provisions for liabilities |
|||
Other provisions |
( |
( |
|
Net assets attributable to members |
|
|
|
Represented by: |
|||
Loans and other debts due to members |
|||
Members' capital classified as a liability |
6,521,961 |
4,701,086 |
|
Members’ other interests |
|||
Members' capital classified as equity |
6,167,937 |
5,783,743 |
|
12,689,898 |
10,484,829 |
||
Total members' interests |
|||
Loans and other debts due to members |
6,521,961 |
4,701,086 |
|
Equity |
|
|
|
12,689,898 |
10,484,829 |
The financial statements of BTVK ADVISORY LLP (registered number OC304572) were approved by the
......................................... |
BTVK ADVISORY LLP
Statement of Changes in Members’ Interests
At 31 May 2024
Equity |
Loans and other debts due to/(from) members |
||||
Members' capital |
Total equity |
Members' other amounts |
Total debt |
Total |
|
Members' interest at 1 June 2023 |
5,783,743 |
5,783,743 |
4,701,085 |
4,701,085 |
10,484,828 |
Members' remuneration charged as an expense |
- |
- |
5,954,919 |
5,954,919 |
5,954,919 |
Members' interests after total comprehensive income |
5,783,743 |
5,783,743 |
10,656,004 |
10,656,004 |
16,439,747 |
Members’ capital introduced |
1,609,554 |
1,609,554 |
- |
- |
1,609,554 |
Drawings (including tax payments) |
- |
- |
(4,134,043) |
(4,134,043) |
(4,134,043) |
Transfer of capital to former members’ balances |
(1,225,360) |
(1,225,360) |
- |
- |
(1,225,360) |
At 31 May 2024 |
6,167,937 |
6,167,937 |
6,521,961 |
6,521,961 |
12,689,898 |
BTVK ADVISORY LLP
Statement of Changes in Members’ Interests
At 31 May 2024 (continued)
Equity |
Loans and other debts due to/(from) members |
||||
Members' capital |
Total equity |
Members' other amounts |
Total debt |
Total |
|
Members' interest at 1 June 2022 |
5,262,078 |
5,262,078 |
5,022,728 |
5,022,728 |
10,284,806 |
Members' remuneration charged as an expense |
- |
- |
4,457,327 |
4,457,327 |
4,457,327 |
Members' interests after total comprehensive income |
5,262,078 |
5,262,078 |
9,480,055 |
9,480,055 |
14,742,133 |
Members’ capital introduced |
521,665 |
521,665 |
- |
- |
521,665 |
Transfer of capital to former members’ balances |
- |
- |
(4,778,970) |
(4,778,970) |
(4,778,970) |
At 31 May 2023 |
5,783,743 |
5,783,743 |
4,701,085 |
4,701,085 |
10,484,828 |
BTVK ADVISORY LLP
Cash Flow Statement for the Year Ended 31 May 2024
Note |
2024 |
2023 |
|
Net cash inflow from operating activities |
|
|
|
Cash flows from investing activities |
|||
Purchase of tangible fixed assets |
( |
( |
|
Sale of tangible fixed assets |
|
- |
|
Interest received |
|
|
|
Interest paid |
( |
( |
|
Net cash flows from investing activities |
( |
( |
|
Cash flows from financing activities |
|||
Repayment of loans and borrowings |
( |
( |
|
Capital contributions by members |
|
|
|
Payments to former members |
( |
- |
|
Payments to members |
( |
( |
|
Other transactions |
( |
|
|
Net cash flows from financing activities |
( |
( |
|
Net increase in cash and cash equivalents |
|
|
|
Cash and cash equivalents at 1 June |
|
|
|
Cash and cash equivalents at 31 May |
|
|
BTVK ADVISORY LLP
Notes to the Financial Statements for the Year Ended 31 May 2024
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
General information and basis of accounting
The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The functional currency of BTVK ADVISORY LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.
Revenue recognition
Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.
Members' remuneration and division of profits
Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.
Taxation
The taxation payable on the partnership's profits is the personal liability of the members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.
Intangible assets
Intangible assets are stated in the balance sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses.
Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:
BTVK ADVISORY LLP
Notes to the Financial Statements for the Year Ended 31 May 2024 (continued)
Asset class |
Amortisation method and rate |
Development costs |
Development costs are currently not amortised as the project is still in progress |
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Tangible fixed assets |
over its estimated useful life |
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Provisions
Provisions are recognised when the limited liability partnership has an obligation at the reporting date as a result of a past event, it is probable that the limited liability partnership will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
Members' interests
Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.
Pensions and other post retirement obligations
The partnership operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.
BTVK ADVISORY LLP
Notes to the Financial Statements for the Year Ended 31 May 2024 (continued)
Financial instruments
Classification
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a finance transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the balance sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the limited liability partnership intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Recognition and Measurement
Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:
(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.
(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.
(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).
(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.
(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.
(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).
Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.
With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.
Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.
BTVK ADVISORY LLP
Notes to the Financial Statements for the Year Ended 31 May 2024 (continued)
Impairment of financial assets
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the limited liability partnership transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the limited liability partnership, despite having retained some significant risks and rewards of ownership, has transferred control of the asset to another party and the other party has the practical ability to sell the asset in its entirety to an unrelated third party and is able to exercise that ability unilaterally and without needing to impose additional restrictions on the transfer.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Current versus non-current classification
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
In the limited liability partnership balance sheet, investments in subsidiaries and associates are measured at cost less impairment.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
Turnover |
An analysis of the LLP's turnover for the year by class of business is as follows:
2024 |
2023 |
|
Professional fees |
|
|
An analysis of the LLP's turnover for the year by geographical market is as follows:
2024 |
2023 |
|
UK |
|
|
The analysis of the LLP's revenue for the year is as follows:
BTVK ADVISORY LLP
Notes to the Financial Statements for the Year Ended 31 May 2024 (continued)
2024 |
2023 |
|
Rendering of services |
|
|
Operating profit |
Operating profit is stated after charging /(crediting):
2024 |
2023 |
|
Foreign currency gains |
|
|
Profit on sale of tangible fixed assets |
|
- |
Depreciation of owned assets |
|
|
Auditors remuneration |
|
|
Other interest receivable and similar income |
2024 |
2023 |
|
Other interest receivable and similar income |
|
|
8,908 |
13,880 |
Interest payable and similar charges |
2024 |
2023 |
|
Interest on bank borrowings and overdrafts |
|
|
Particulars of employees |
The average number of persons employed by the limited liability partnership (including members) during the year, analysed by category was as follows:
2024 |
2023 |
|
Administration and support |
|
|
|
|
|
|
The aggregate payroll costs were as follows:
BTVK ADVISORY LLP
Notes to the Financial Statements for the Year Ended 31 May 2024 (continued)
2024 |
2023 |
|
Wages and salaries |
|
|
Social security costs |
|
|
Other pension schemes |
|
|
9,819,187 |
7,114,721 |
|
|
Auditor's remuneration |
2024 |
2023 |
|
Audit of the financial statements |
|
|
Intangible fixed assets |
Other intangible assets |
Total |
|
Cost |
||
At 1 June 2023 |
|
|
At 31 May 2024 |
|
|
Amortisation |
||
At 31 May 2024 |
- |
- |
Net book value |
||
At 31 May 2024 |
|
|
At 31 May 2023 |
|
|
Tangible fixed assets |
Leasehold improvements |
Fixtures and fittings |
Total |
|
Cost |
|||
At 1 June 2023 |
|
|
|
Additions |
|
|
|
Disposals |
- |
( |
( |
At 31 May 2024 |
|
|
|
BTVK ADVISORY LLP
Notes to the Financial Statements for the Year Ended 31 May 2024 (continued)
Leasehold improvements |
Fixtures and fittings |
Total |
|
Depreciation |
|||
At 1 June 2023 |
|
|
|
Charge for the year |
|
|
|
Eliminated on disposals |
- |
( |
( |
At 31 May 2024 |
|
|
|
Net book value |
|||
At 31 May 2024 |
|
|
|
At 31 May 2023 |
|
|
|
Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of freehold land and buildings and £437,618 (2023 - £516,104) in respect of leaseholds.
Debtors |
2024 |
2023 |
|
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
Other debtors |
|
|
Prepayments and accrued income |
|
|
|
|
Creditors: Amounts falling due within one year |
2024 |
2023 |
|
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Other taxes and social security |
|
|
Other creditors |
|
|
Accruals and deferred income |
|
|
|
|
BTVK ADVISORY LLP
Notes to the Financial Statements for the Year Ended 31 May 2024 (continued)
Creditors: Amounts falling due after more than one year |
2024 |
2023 |
|
Bank loans and overdrafts |
- |
|
Provisions |
Other provisions |
Total |
|
At 1 June 2023 |
|
|
Additional provisions |
|
|
At 31 May 2024 |
|
|
|
Pension and other schemes |
Defined contribution pension scheme
The limited liability partnership operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the limited liability partnership to the scheme and amounted to £
BTVK ADVISORY LLP
Notes to the Financial Statements for the Year Ended 31 May 2024 (continued)
Cash flow statement |
2024 |
2023 |
|
Operating profit |
|
|
Depreciation, amortisation and impairment charges |
|
|
Loss on disposal of fixed assets |
202 |
- |
Decrease/(increase) in debtors |
|
( |
(Decrease)/increase in creditors |
( |
|
Increase in provisions |
|
|
Cash generated by operations |
|
|
Net cash inflow from operating activities |
|
|
Non adjusting events after the financial period |
|
Control |
The limited liability partnership is controlled by Baker Tilly Corporation. The ultimate controlling party is the same as the controlling party.