Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-31true2023-04-01falseNo description of principal activity00falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC330018 2023-04-01 2024-03-31 OC330018 2022-04-01 2023-03-31 OC330018 2024-03-31 OC330018 2023-03-31 OC330018 c:FurnitureFittings 2023-04-01 2024-03-31 OC330018 c:FurnitureFittings 2024-03-31 OC330018 c:FurnitureFittings 2023-03-31 OC330018 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC330018 c:ComputerEquipment 2023-04-01 2024-03-31 OC330018 c:ComputerEquipment 2024-03-31 OC330018 c:ComputerEquipment 2023-03-31 OC330018 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC330018 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC330018 c:CurrentFinancialInstruments 2024-03-31 OC330018 c:CurrentFinancialInstruments 2023-03-31 OC330018 c:CurrentFinancialInstruments 2 2024-03-31 OC330018 c:CurrentFinancialInstruments 2 2023-03-31 OC330018 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC330018 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC330018 e:FRS102 2023-04-01 2024-03-31 OC330018 e:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC330018 e:FullAccounts 2023-04-01 2024-03-31 OC330018 e:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC330018 2 2023-04-01 2024-03-31 OC330018 e:PartnerLLP2 2023-04-01 2024-03-31 OC330018 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC330018 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC330018 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC330018 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC330018 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure


Registered number: OC330018












SHORT PARTNERS LLP
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


 
REGISTERED NUMBER:OC330018
SHORT PARTNERS LLP

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,165
3,246

Current assets
  

Debtors: amounts falling due within one year
 5 
216,587
161,977

Cash at bank and in hand
  
6,016
82,365

  
222,603
244,342

Creditors: amounts falling due within one year
 6 
(21,244)
(32,611)

Net current assets
  
 
 
201,359
 
 
211,731

Total assets less current liabilities
  
205,524
214,977

Net assets attributable to members
  
205,524
214,977


Represented by:
  

Members' other interests
  

Members' capital classified as equity
  
250,000
250,000

Other reserves classified as equity

  

(44,476)
(35,023)

  
 
205,524
 
214,977


Total members' interests
  

Amounts due from members (included in debtors)
 5 
(173,453)
(98,430)

Members' other interests
  
205,524
214,977

  
32,071
116,547

Page 1


 
REGISTERED NUMBER:OC330018
SHORT PARTNERS LLP
    
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 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: 




MJB Short
Designated member

Date: 3 February 2025

The notes on pages 4 to 7 form part of these financial statements.
Page 2

 

SHORT PARTNERS LLP

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 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 

(134,349)
(134,349)


Balance at 1 April 2022 
250,000
50,919
300,919
(134,349)
(134,349)
166,570

Loss for the year available for discretionary division among members
 
-
(35,023)
(35,023)
-
-
(35,023)

Members' interests after profit for the year
250,000
15,896
265,896
(134,349)
(134,349)
131,547

Other division of losses
-
(50,919)
(50,919)
50,919
50,919
-

Drawings on account and distribution of profit
-
-
-
(15,000)
(15,000)
(15,000)

Amounts due from members
 



(98,430)
(98,430)


Balance at 31 March 2023
250,000
(35,023)
214,977
(98,430)
(98,430)
116,547

Loss for the year available for discretionary division among members
 
-
(44,476)
(44,476)
-
-
(44,476)

Members' interests after profit for the year
250,000
(79,499)
170,501
(98,430)
(98,430)
72,071

Other division of losses
-
35,023
35,023
(35,023)
(35,023)
-

Drawings on account and distribution of profit
 
-
-
-
(40,000)
(40,000)
(40,000)

Amounts due from members
 



(173,453)
(173,453)


Balance at 31 March 2024 
250,000
(44,476)
205,524
(173,453)
(173,453)
32,071

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

 

SHORT PARTNERS LLP

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

1.


General information

Short Partners LLP is a Limited Liability Partnership (LLP) incorporated in England and Wales. The address of its registered office is 16 Great Queen Street, London, England, WC2B 5AH. The principal activity of the LLP is the provision of financial advice.
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.

The following principal accounting policies have been applied:

 
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

Division and distribution of profits

Profits and losses made by the LLP during a period are divided between the members only after the annual accounts for that period have been approved. Subject to the agreement of the designated members, members may draw against their profit shares in advance of them being determined; in the event that the drawings for a period exceed the amount of profit that is subsequently allocated, members are required to repay the excess.

 
2.4

Interest income

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

 
2.5

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

 

SHORT PARTNERS LLP

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

2.Accounting policies (continued)


2.5
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
-
1 year straight line
Computer equipment
-
3 years straight line

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.

 
2.6

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.


3.


Employees




The LLP has no employees.

The average monthly number of members during the year was 2 (2023 - 2).

Page 5

 

SHORT PARTNERS LLP

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

4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
3,122
27,931
31,053


Additions
-
3,222
3,222



At 31 March 2024

3,122
31,153
34,275



Depreciation


At 1 April 2023
3,122
24,685
27,807


Charge for the year on owned assets
-
2,303
2,303



At 31 March 2024

3,122
26,988
30,110



Net book value



At 31 March 2024
-
4,165
4,165



At 31 March 2023
-
3,246
3,246

Page 6

 

SHORT PARTNERS LLP

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

5.


Debtors

2024
2023
£
£


Other debtors
43,016
40,260

Prepayments and accrued income
118
23,287

Amounts due from members
173,453
98,430

216,587
161,977



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
17,094
22,833

Accruals and deferred income
4,150
9,778

21,244
32,611


7.
Related party transactions

The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures"  from disclosing transactions with entities which are a wholly owned part of the group.

Transactions with  (other) related parties are as follows:




Relationship

Transaction

Amount
Amount due (to)/from related parties




2024
 
2023 
2024 
2023 




£
 
£ 
£ 
£ 



Companies with which the entity has management personnel in common
Loans
40,000
40,000
40,000
40,000


Amounts owed to related parties are unsecured, interest free and due for repayment within one year.

Page 7