Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-31No description of principal activity2023-04-012false2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC428744 2023-04-01 2024-03-31 OC428744 2022-04-01 2023-03-31 OC428744 2024-03-31 OC428744 2023-03-31 OC428744 c:Buildings c:LongLeaseholdAssets 2023-04-01 2024-03-31 OC428744 c:Buildings c:ShortLeaseholdAssets 2023-04-01 2024-03-31 OC428744 c:Buildings c:ShortLeaseholdAssets 2024-03-31 OC428744 c:Buildings c:ShortLeaseholdAssets 2023-03-31 OC428744 c:ComputerEquipment 2023-04-01 2024-03-31 OC428744 c:ComputerEquipment 2024-03-31 OC428744 c:ComputerEquipment 2023-03-31 OC428744 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC428744 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC428744 c:ComputerSoftware 2024-03-31 OC428744 c:ComputerSoftware 2023-03-31 OC428744 c:CurrentFinancialInstruments 2024-03-31 OC428744 c:CurrentFinancialInstruments 2023-03-31 OC428744 c:CurrentFinancialInstruments 2 2024-03-31 OC428744 c:CurrentFinancialInstruments 2 2023-03-31 OC428744 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC428744 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC428744 e:FRS102 2023-04-01 2024-03-31 OC428744 e:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC428744 e:FullAccounts 2023-04-01 2024-03-31 OC428744 e:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC428744 2 2023-04-01 2024-03-31 OC428744 c:ComputerSoftware c:OwnedIntangibleAssets 2023-04-01 2024-03-31 OC428744 e:PartnerLLP1 2023-04-01 2024-03-31 OC428744 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: OC428744














JIGSAW VC LLP
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 
JIGSAW VC LLP
REGISTERED NUMBER:OC428744

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
49,061
91,455

Tangible assets
 5 
246,879
1,161

  
295,940
92,616

Current assets
  

Debtors: amounts falling due within one year
 6 
141,521
1,120,495

Current asset investments
 7 
48,255
56,955

Cash at bank and in hand
 8 
1,022,647
9,189

Current liability
  
1,212,423
1,186,639

Creditors: Amounts Falling Due Within One Year
 9 
(660,120)
(44,800)

Net current assets
  
 
 
552,303
 
 
1,141,839

Total assets less current liabilities
  
848,243
1,234,455

  

Net assets
  
848,243
1,234,455


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 10 
848,243
1,234,455

  

  
848,243
1,234,455


Total members' interests
  

Amounts due from members (included in debtors)
 6 
(92,495)
-

Loans and other debts due to members
 10 
848,243
1,234,455

  
755,748
1,234,455


Page 1

 
JIGSAW VC LLP
REGISTERED NUMBER:OC428744
    
STATEMENT OF FINANCIAL POSITION (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 statement of comprehensive income 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 30 January 2025.




D Jones
Designated member

The notes on pages 3 to 8 form part of these financial statements.

Jigsaw VC 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

 
JIGSAW VC LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Jigsaw VC LLP is a limited liability partnership registered in England and Wales. Its registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.
The principal activity of the Company during the year was that of financial advisory services.

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

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.

 
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:

 
2.4

Operating leases: the LLP as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
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.

Page 3

 
JIGSAW VC LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The LLP operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the LLP in independently administered funds.

 
2.8

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 discretionarily. Discretionary divisions of profits are recognised as amounts due to members, although may be used to offset amounts which have been drawn by members, which are recognised as loan assets repayable.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

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.

Page 4

 
JIGSAW VC LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

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:

Leasehold improvements
-
over the life of the lease
Computer equipment
-
25%

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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs 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 receivables due with the operating cycle fall into this category of financial instruments.

Page 5

 
JIGSAW VC LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

The average monthly number of persons (including members with contracts of employment) employed during the year was as follows:


        2024
        2023
            No.
            No.







Administration and finance
2
2


4.


Intangible assets




Computer software

£



Cost


At 1 April 2023
211,968



At 31 March 2024

211,968



Amortisation


At 1 April 2023
120,513


Charge for the year on owned assets
42,394



At 31 March 2024

162,907



Net book value



At 31 March 2024
49,061



At 31 March 2023
91,455



Page 6

 
JIGSAW VC LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





leasehold improvements
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
-
1,639
1,639


Additions
246,128
-
246,128



At 31 March 2024

246,128
1,639
247,767



Depreciation


At 1 April 2023
-
478
478


Charge for the year on owned assets
-
410
410



At 31 March 2024

-
888
888



Net book value



At 31 March 2024
246,128
751
246,879



At 31 March 2023
-
1,161
1,161


6.


Debtors

2024
2023
£
£


Other debtors
43,276
35,746

Prepayments and accrued income
5,750
1,084,749

Amounts due from members
92,495
-

141,521
1,120,495



7.


Current asset investments

2024
2023
£
£

Unlisted investments
48,255
56,955


Page 7

 
JIGSAW VC LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,022,647
9,189



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
85,527
16,392

Other taxation and social security
4,648
11,414

Other creditors
5,000
11,019

Accruals and deferred income
564,945
5,975

660,120
44,800



10.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
848,243
1,234,455

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

2024
2023
£
£



Falling due within one year
848,243
1,234,455

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up. Included within amounts due to members are amounts of £800,000 due to non-designated members.


11.


Pension commitments

The LLP contributes to a defined contribution pension scheme. The assets of the scheme are held separately from those of the LLP in an independently administered fund. The pension cost charge represents contributions payable by the LLP to the fund and amounted to £3,736 (2023:£1,431). Contributions totalling £nil (2023:£513) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 8