Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30272023-07-01falseNo description of principal activity27truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC380935 2023-07-01 2024-06-30 OC380935 2022-07-01 2023-06-30 OC380935 2024-06-30 OC380935 2023-06-30 OC380935 c:FurnitureFittings 2023-07-01 2024-06-30 OC380935 c:FurnitureFittings 2024-06-30 OC380935 c:FurnitureFittings 2023-06-30 OC380935 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 OC380935 c:ComputerEquipment 2023-07-01 2024-06-30 OC380935 c:ComputerEquipment 2024-06-30 OC380935 c:ComputerEquipment 2023-06-30 OC380935 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 OC380935 c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 OC380935 c:CopyrightsPatentsTrademarksServiceOperatingRights 2024-06-30 OC380935 c:CopyrightsPatentsTrademarksServiceOperatingRights 2023-06-30 OC380935 c:CurrentFinancialInstruments 2024-06-30 OC380935 c:CurrentFinancialInstruments 2023-06-30 OC380935 c:CurrentFinancialInstruments 2 2024-06-30 OC380935 c:CurrentFinancialInstruments 2 2023-06-30 OC380935 c:Non-currentFinancialInstruments 2024-06-30 OC380935 c:Non-currentFinancialInstruments 2023-06-30 OC380935 c:CurrentFinancialInstruments c:WithinOneYear 2024-06-30 OC380935 c:CurrentFinancialInstruments c:WithinOneYear 2023-06-30 OC380935 c:Non-currentFinancialInstruments c:AfterOneYear 2024-06-30 OC380935 c:Non-currentFinancialInstruments c:AfterOneYear 2023-06-30 OC380935 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-06-30 OC380935 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-06-30 OC380935 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-06-30 OC380935 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-06-30 OC380935 e:FRS102 2023-07-01 2024-06-30 OC380935 e:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 OC380935 e:FullAccounts 2023-07-01 2024-06-30 OC380935 e:LimitedLiabilityPartnershipLLP 2023-07-01 2024-06-30 OC380935 c:WithinOneYear 2024-06-30 OC380935 c:WithinOneYear 2023-06-30 OC380935 c:BetweenOneFiveYears 2024-06-30 OC380935 c:BetweenOneFiveYears 2023-06-30 OC380935 2 2023-07-01 2024-06-30 OC380935 e:PartnerLLP1 2023-07-01 2024-06-30 OC380935 f:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: OC380935










RICHMOND CHAMBERS LLP








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
RICHMOND CHAMBERS LLP
REGISTERED NUMBER: OC380935

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
2
2

Tangible assets
 5 
22,484
23,428

  
22,486
23,430

Current assets
  

Debtors: amounts falling due within one year
 6 
284,923
586,421

Cash at bank and in hand
  
123,058
42,794

  
407,981
629,215

Creditors: amounts falling due within one year
 7 
(384,634)
(556,812)

Net current assets
  
 
 
23,347
 
 
72,403

Total assets less current liabilities
  
45,833
95,833

Creditors: amounts falling due after more than one year
 8 
(45,833)
(95,833)

  

Net assets
  
-
-


Represented by:
  

Loans and other debts due to members within one year
  

  

  
-
-


Total members' interests
  

Amounts due from members (included in debtors)
 6 
(172,590)
(338,104)

  
(172,590)
(338,104)


Page 1

 
RICHMOND CHAMBERS LLP
REGISTERED NUMBER: OC380935
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 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 by: 




S E A Giddens
Designated member

Date: 5 March 2025

The notes on pages 3 to 10 form part of these financial statements.

Richmond Chambers 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

 
RICHMOND CHAMBERS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Richmond Chambers LLP is a Limited Liability Partnership incorporated in England. The registered office is situated at 6th Floor, 2 London Wall Place, London, EC2Y 5AU. The principal activity of the LLP is that of immigration barristers. 

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

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.

 
2.3

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

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

Page 3

 
RICHMOND CHAMBERS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Borrowing costs

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

 
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 automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .

 
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

 
RICHMOND CHAMBERS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 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:

Fixtures and fittings
-
5 years
Computer 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.

 
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 debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 debtors due with the operating cycle fall into this category of financial instruments.
Page 5

 
RICHMOND CHAMBERS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.14
Financial instruments (continued)


Financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 27 (2023 - 27).

Page 6

 
RICHMOND CHAMBERS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Intangible assets




Websites

£



Cost


At 1 July 2023
20,000



At 30 June 2024

20,000



Amortisation


At 1 July 2023
19,998



At 30 June 2024

19,998



Net book value



At 30 June 2024
2



At 30 June 2023
2



Page 7

 
RICHMOND CHAMBERS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 July 2023
10,370
112,045
122,415


Additions
613
14,345
14,958



At 30 June 2024

10,983
126,390
137,373



Depreciation


At 1 July 2023
6,083
92,903
98,986


Charge for the year
1,343
14,560
15,903



At 30 June 2024

7,426
107,463
114,889



Net book value



At 30 June 2024
3,557
18,927
22,484



At 30 June 2023
4,287
19,141
23,428


6.


Debtors

2024
2023
£
£


Trade debtors
94,605
232,129

Prepayments and accrued income
17,728
16,188

Amounts due from members
172,590
338,104

284,923
586,421


Page 8

 
RICHMOND CHAMBERS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
50,000
50,000

Other loans
-
35,747

Other taxation and social security
177,481
125,827

Other creditors
24,195
40,377

Accruals and deferred income
132,958
304,861

384,634
556,812



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
45,833
95,833



9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
50,000
50,000

Other loans
-
35,747

Amounts falling due 1-2 years

Bank loans
45,833
50,000

Amounts falling due 2-5 years

Bank loans
-
45,833

95,833
181,580



10.


Pension commitments

The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity  in an independently administered fund. The pension cost charge represents contributions payable by the entity  to the fund and amounted to £19,147 (2023: £20,313). Contributions totalling £5,003 (2023: £3,968) were payable to the fund at the reporting date and are included in creditors.

Page 9

 
RICHMOND CHAMBERS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


Commitments under operating leases

At 30 June 2024 the LLP had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
161,730
145,680

Later than 1 year and not later than 5 years
277,470
72,840

439,200
218,520

 
Page 10