Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302025-05-152023-09-302025-05-152023-01-01falseNo description of principal activity912truetruefalse OC421383 2023-01-01 2023-09-30 OC421383 2022-01-01 2022-12-31 OC421383 2023-09-30 OC421383 2022-12-31 OC421383 c:OfficeEquipment 2023-01-01 2023-09-30 OC421383 c:OfficeEquipment 2023-09-30 OC421383 c:OfficeEquipment 2022-12-31 OC421383 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-01-01 2023-09-30 OC421383 c:CurrentFinancialInstruments 2023-09-30 OC421383 c:CurrentFinancialInstruments 2022-12-31 OC421383 c:CurrentFinancialInstruments 2 2023-09-30 OC421383 c:CurrentFinancialInstruments 2 2022-12-31 OC421383 c:CurrentFinancialInstruments c:WithinOneYear 2023-09-30 OC421383 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 OC421383 e:FRS102 2023-01-01 2023-09-30 OC421383 e:Audited 2023-01-01 2023-09-30 OC421383 e:FullAccounts 2023-01-01 2023-09-30 OC421383 e:LimitedLiabilityPartnershipLLP 2023-01-01 2023-09-30 OC421383 e:SmallCompaniesRegimeForAccounts 2023-01-01 2023-09-30 OC421383 2 2023-01-01 2023-09-30 OC421383 e:PartnerLLP1 2023-01-01 2023-09-30 OC421383 c:FurtherSpecificReserve2ComponentTotalEquity 2023-09-30 OC421383 c:FurtherSpecificReserve2ComponentTotalEquity 2022-12-31 OC421383 f:PoundSterling 2023-01-01 2023-09-30 iso4217:GBP xbrli:pure
Registered number: OC421383













SALAMANCA GROUP LLP

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2023


 
SALAMANCA GROUP LLP
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SALAMANCA GROUP LLP

Opinion
 

We have audited the financial statements of Salamanca Group LLP (the 'LLP') for the period ended 30 September 2023, which comprise  the Statement of Financial Position, the Reconciliation of Members' Interests and the related notes, including a summary of significant accounting policiesThe 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 LLP's affairs as at 30 September 2023 and of its profit for the period 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 by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the LLP in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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.

 
Emphasis of matter: financial statements prepared on a basis other than going concern
 

In forming our opinion, which is not modified, we draw attention to note 2.2 in the financial statements, which describes the members’ reasons why the financial statements have been prepared on a basis other than going concern.

Other information
 

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The members are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Page 1


 
SALAMANCA GROUP LLP
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SALAMANCA GROUP LLP (CONTINUED)

Matters on which we are required to report by exception
 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006, as applied to limited liability partnerships, requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the 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; or
the members were not entitled to prepare the financial statements in accordance with the small limited liability partnerships regime.

Responsibilities of members
 

As explained more fully in the Members' Responsibilities Statement set out on page 1, 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 LLP'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 LLP or to cease operations, or have no realistic alternative but to do so.

Auditors' 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 Auditors' 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.

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:

Our assessment of the susceptibility of the entity's financial statements is considered to be low. We reached this conclusion after consideration of the following:

Because of the relatively uncomplicated business model, there are comparatively few unexpected fluctuations in the reported results and balances and any such unexpected items would be specifically enquired into by us; and
There is a number of individuals which comprise "management" and therefore there is no single individual who is likely to be able to override controls to effect fraud.

We designed our audit procedures to respond to identified risks, including non-compliance with laws and regulations (irregularities) that are material to the financial statements. Some of the specific procedures performed to detect irregularities, including fraud, are detailed below:

The review of control accounts and journal entries for large, unusual or unauthorised entries;
The analytical review of the detailed profit and loss account for unexpected variances or items that fell outside our understanding of the business;
Obtaining and reviewing a list of connected persons and entities and reviewing ledgers for undisclosed related party transactions
Page 2


 
SALAMANCA GROUP LLP
 

 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SALAMANCA GROUP LLP (CONTINUED)


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.  The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.



Use of our report
 

This report is made solely to the LLP's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, as applied by Part 12 of The Limited Liability Partnerships (Accounts and Audit) (Applications of Companies Act 2006) Regulations 2008Our audit work has been undertaken so that we might state to the LLP's members those matters we are required to state to them in an Auditors' 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 LLP and the LLP's members, as a body, for our audit work, for this report, or for the opinions we have formed.




Colin Edney (Senior Statutory Auditor)
  
for and on behalf of
Warrener Stewart
 
Chartered Accountants & Statutory Auditors
  
Harwood House
43 Harwood Road
London
SW6 4QP

 
Date: 
15 May 2025
Page 3


 
SALAMANCA GROUP LLP
REGISTERED NUMBER:OC421383


STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2023

30 September
31 December
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
258

  
-
258

Current assets
  

Debtors: amounts falling due within one year
 5 
5,729,584
3,248,557

Cash at bank and in hand
 6 
2,645
4,007

  
5,732,229
3,252,564

Creditors: Amounts Falling Due Within One Year
 7 
(6,003,942)
(5,888,091)

Net current liabilities
  
 
 
(271,713)
 
 
(2,635,527)

  

Net liabilities
  
(271,713)
(2,635,269)


Represented by:
  

Loans and other debts due to members within one year
  

Members' other interests
  

Other reserves classified as equity
  
(271,713)
(2,635,269)

  
(271,713)
(2,635,269)


Total members' interests
  

Amounts due from members (included in debtors)
 5 
(1,556,838)
(1,540,837)

Members' other interests
  
(271,713)
(2,635,269)

  
(1,828,551)
(4,176,106)


Page 4


 
SALAMANCA GROUP LLP
REGISTERED NUMBER:OC421383

    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2023

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

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 15 May 2025.




................................................
M J Bellamy
Designated member

The notes on pages 7 to 12 form part of these financial statements.

Salamanca Group 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 5


 
SALAMANCA GROUP LLP
 


RECONCILIATION OF MEMBERS' INTERESTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023




EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Other reserves
Other amounts
Total

£
£
£

Loss for the period available for discretionary division among members
 
(471,637)
-
(471,637)

Members' interests after profit for the period
(2,635,269)
-
(2,635,269)

Drawings on account and distribution of profit
-
(1,540,837)
(1,540,837)

Amounts due from members
 

(1,540,837)


Balance at 31 December 2022
(2,635,269)
(1,540,837)
(4,176,106)

Profit for the period available for discretionary division among members
 
2,363,556
-
2,363,556

Members' interests after profit for the period
(271,713)
(1,540,837)
(1,812,550)

Drawings on account and distribution of profit
-
(16,000)
(16,000)

Amounts due from members
 

(1,556,838)


Balance at 30 September 2023 
(271,713)
(1,556,838)
(1,828,551)

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 6


 
SALAMANCA GROUP LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

1.


General information

Salamanca Group LLP is a limited liability partnership incorporated in England and Wales. The address of its principal place of business is 3 Burlington Gardens, London, W1S 3EP. 
All figures in these financial statements are rounded to the nearest pound.

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

These financial statements have not been prepared on a going concern basis. The members have made the decision to cease trading and wind down the company’s operations. The resultant minor operating costs incurred to the point of closure will be financed by the members.

 
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 Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 7


 
SALAMANCA GROUP LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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

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.

Page 8


 
SALAMANCA GROUP LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
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 .

In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.

 
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
-
5 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.

 
2.10

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.

 
2.11

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.

Page 9


 
SALAMANCA GROUP LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the period was 9 (2022 - 12).


4.


Tangible fixed assets







Office equipment

£



Cost or valuation


At 1 January 2023
3,850



At 30 September 2023

3,850



Depreciation


At 1 January 2023
3,592


Charge for the period on owned assets
258



At 30 September 2023

3,850



Net book value



At 30 September 2023
-



At 31 December 2022
258

Page 10


 
SALAMANCA GROUP LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

5.


Debtors

30 September
31 December
2023
2022
£
£


Trade debtors
-
625

Other debtors
82,225
46,733

Prepayments and accrued income
4,090,521
1,660,362

Amounts due from members
1,556,838
1,540,837

5,729,584
3,248,557



6.


Cash and cash equivalents

30 September
31 December
2023
2022
£
£

Cash at bank and in hand
2,645
4,007



7.


Creditors: Amounts falling due within one year

30 September
31 December
2023
2022
£
£

Trade creditors
38,783
1,809

Amounts owed to group undertakings
5,025,663
5,044,312

Other taxation and social security
354,819
672,301

Other creditors
507,885
100,263

Accruals and deferred income
76,792
69,406

6,003,942
5,888,091


Page 11


 
SALAMANCA GROUP LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2023

8.


Related party transactions

 Material balances and transactions with related parties were as follows:

2023
2022
        £
        £
Creditor balances

Salamanca Group Holdings (UK) Limited

3,775,714

3,525,303

Salamanca Group Corporate Advisory Limited

-

41,737

Salamanca Group Service Company Limited

1,249,949

1,401,838

Salamanca Capital Limited

-

75,434


5,025,663

5,044,312


The LLP made management charges of £200,000 (2022: £240,000) during the year on behalf of Salamanca Group Holdings (UK) Limited.
The members of the LLP were also connected with the above entities through shareholdings and  directorships.

9.


Controlling party

There is no ultimate controlling party of the LLP.


10.


Auditors' information

The auditors' report on the financial statements for the period ended 30 September 2023 was unqualified.

The audit report was signed on 15 May 2025 by Colin Edney (Senior Statutory Auditor) on behalf of Warrener Stewart.

 
Page 12