Caseware UK (AP4) 2023.0.135 2023.0.135 2024-10-312024-10-31true2023-11-01falseadvisory services00trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC309774 2023-11-01 2024-10-31 OC309774 2022-11-01 2023-10-31 OC309774 2024-10-31 OC309774 2023-10-31 OC309774 c:OfficeEquipment 2023-11-01 2024-10-31 OC309774 c:OfficeEquipment 2024-10-31 OC309774 c:OfficeEquipment 2023-10-31 OC309774 c:CurrentFinancialInstruments 2024-10-31 OC309774 c:CurrentFinancialInstruments 2023-10-31 OC309774 c:CurrentFinancialInstruments c:WithinOneYear 2024-10-31 OC309774 c:CurrentFinancialInstruments c:WithinOneYear 2023-10-31 OC309774 d:FRS102 2023-11-01 2024-10-31 OC309774 d:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 OC309774 d:FullAccounts 2023-11-01 2024-10-31 OC309774 d:LimitedLiabilityPartnershipLLP 2023-11-01 2024-10-31 OC309774 2 2023-11-01 2024-10-31 OC309774 d:PartnerLLP1 2023-11-01 2024-10-31 OC309774 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-10-31 OC309774 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-10-31 OC309774 c:FurtherSpecificReserve3ComponentTotalEquity 2024-10-31 OC309774 c:FurtherSpecificReserve3ComponentTotalEquity 2023-10-31 OC309774 e:PoundSterling 2023-11-01 2024-10-31 iso4217:GBP xbrli:pure


Registered number: OC309774












CHILTERN ADVISORS LLP
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


 
REGISTERED NUMBER:OC309774
CHILTERN ADVISORS LLP

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
30,984
24,929

Cash at bank and in hand
 6 
5,007
5,007

  
35,991
29,936

Creditors: Amounts Falling Due Within One Year
 7 
(6,771)
(16,847)

Net current assets
  
 
 
29,220
 
 
13,089

Total assets less current liabilities
  
29,220
13,089

  

Net assets
  
29,220
13,089


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 8 
24,220
8,089

  
24,220
8,089

Members' other interests
  

Members' capital classified as equity
  
5,000
5,000

  
 
5,000
 
5,000

  
29,220
13,089


Total members' interests
  

Loans and other debts due to members
 8 
24,220
8,089

Members' other interests
  
5,000
5,000

  
29,220
13,089


Page 1


 
REGISTERED NUMBER:OC309774
CHILTERN ADVISORS LLP
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 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: 




B D Brooks
Designated member

Date: 13 February 2025

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 

CHILTERN ADVISORS LLP

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 OCTOBER 2024







EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Other reserves
Total
Other amounts
Total
Total

£
£
£
£
£
£

Amounts due from members 

(301)
(301)


Balance at 1 November 2022 
5,000
-
5,000
(301)
(301)
4,699

Profit for the year available for discretionary division among members
 
-
2,049
2,049
-
-
2,049

Members' interests after profit for the year
5,000
2,049
7,049
(301)
(301)
6,748

Other division of profits
-
(2,049)
(2,049)
2,049
2,049
-

Amounts introduced by members
-
-
-
6,341
6,341
6,341

Amounts due to members
8,089
8,089

Balance at 31 October 2023
5,000
-
5,000
8,089
8,089
13,089

Profit for the year available for discretionary division among members
 
-
1,161
1,161
-
-
1,161

Members' interests after profit for the year
5,000
1,161
6,161
8,089
8,089
14,250

Other division of profits
-
(1,161)
(1,161)
1,161
1,161
-

Amounts introduced by members
-
-
-
38,420
38,420
38,420

Drawings on account and distribution of profit
-
-
-
(23,450)
(23,450)
(23,450)

Amounts due to members
24,220
24,220

Balance at 31 October 2024 
5,000
-
5,000
24,220
24,220
29,220

The notes on pages 4 to 9 form part of these financial statements.

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

 

CHILTERN ADVISORS LLP

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Chiltern Advisors LLP is a limited liability partnership incorporated in the United Kingdom and registered in England and Wales at Summer Court Summer Court, Kingsbridge Hill, Totnes, Devon, England, TQ9 5TA. The principal activity of the partnership is advisory services.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. 

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.
Cash flow taken the exemption under FRS 102 7.1B.

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

 
2.2

Going concern

After making enquiries, the members have a reasonable expectation that the partnership has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The LLP's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 

CHILTERN ADVISORS LLP

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.4

Turnover

Turnover comprises revenue recognised by the LLP in respect of services supplied during the year,
exclusive of value added tax.

 
2.5

Interest income

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

 
2.6

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.

 
2.7

Borrowing costs

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

  
2.8

Members' profit allocation

Remuneration payable to members is discretionary on the part of the LLP and is treated as an
allocation of profits from the reserves of the LLP. Unallocated profits and losses are included within
"other reserves".

 
2.9

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
-
 3 years

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

 

CHILTERN ADVISORS LLP

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)


2.10

Financial instruments

The LLP has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the LLP becomes party to the contractual provisions of the instrument. 

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 deducting all of its liabilities. 
 
The LLP’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

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

Page 6

 

CHILTERN ADVISORS LLP

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)




Financial instruments (continued)

Impairment of financial assets
Financial assets 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 profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the LLP would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the 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.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
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 entity has no employees.

Page 7

 

CHILTERN ADVISORS LLP

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 November 2023
5,591



At 31 October 2024

5,591



Depreciation


At 1 November 2023
5,591



At 31 October 2024

5,591



Net book value



At 31 October 2024
-



At 31 October 2023
-

The Office equipment are still in use at the year end.


5.


Debtors

2024
2023
£
£


Trade debtors
6,300
8,000

Prepayments and accrued income
24,684
16,929

30,984
24,929



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
5,007
5,007

Less: bank overdrafts
(2,996)
(14,072)

2,011
(9,065)


Page 8

 

CHILTERN ADVISORS LLP

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
2,996
14,072

Accruals and deferred income
3,775
2,775

6,771
16,847



8.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
24,220
8,089

24,220
8,089

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

2024
2023
£
£



Falling due within one year
24,220
8,089

24,220
8,089

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


9.


Related party transactions

During the year the partnership earned fees from Chiltern Advisors (Jersey) Limited, an entity under common control, of £16,100 (2023: £10,500) in respect of services provided. At 31 October 2024 £23,500 (2023: £16,000) included in "Prepayments and accrued income" were due from Chiltern Advisors (Jersey) Limited.


10.


Controlling party

The LLP is jointly controlled by its members.

 
Page 9