Caseware UK (AP4) 2024.0.164 2024.0.164 2025-05-292025-05-29false32023-10-01No description of principal activity3falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC435475 2023-10-01 2024-03-31 OC435475 2022-10-01 2023-09-30 OC435475 2024-03-31 OC435475 2023-09-30 OC435475 c:ComputerEquipment 2023-10-01 2024-03-31 OC435475 c:ComputerEquipment 2024-03-31 OC435475 c:ComputerEquipment 2023-09-30 OC435475 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-10-01 2024-03-31 OC435475 c:CurrentFinancialInstruments 2024-03-31 OC435475 c:CurrentFinancialInstruments 2023-09-30 OC435475 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC435475 c:CurrentFinancialInstruments c:WithinOneYear 2023-09-30 OC435475 d:FRS102 2023-10-01 2024-03-31 OC435475 d:AuditExemptWithAccountantsReport 2023-10-01 2024-03-31 OC435475 d:FullAccounts 2023-10-01 2024-03-31 OC435475 d:LimitedLiabilityPartnershipLLP 2023-10-01 2024-03-31 OC435475 2 2023-10-01 2024-03-31 OC435475 d:PartnerLLP1 2023-10-01 2024-03-31 OC435475 d:PartnerLLP2 2023-10-01 2024-03-31 OC435475 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC435475 c:FurtherSpecificReserve3ComponentTotalEquity 2023-09-30 OC435475 e:PoundSterling 2023-10-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC435475










M1 Agency (Nottingham) LLP








Unaudited

Financial statements

For the period ended 31 March 2024

 
M1 Agency (Nottingham) LLP
 
  
Chartered accountants' report to the members on the preparation of the unaudited statutory financial statements of M1 Agency (Nottingham) LLP for the period ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), we have prepared for your approval the financial statements of M1 Agency (Nottingham) LLP for the Period ended 31 March 2024 which comprise  the Balance sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the members in accordance with the terms of our engagement letter dated 26 September 2024Our work has been undertaken solely to prepare for your approval the financial statements of M1 Agency (Nottingham) LLP and state those matters that we have agreed to state to the M1 Agency (Nottingham) LLP's members in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than M1 Agency (Nottingham) LLP and its members for our work or for this report. 

It is your duty to ensure that M1 Agency (Nottingham) LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of M1 Agency (Nottingham) LLP. You consider that M1 Agency (Nottingham) LLP is exempt from the statutory audit requirement for the Period.

We have not been instructed to carry out an audit or review of the financial statements of M1 Agency (Nottingham) LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
2nd Floor
168 Shoreditch High Street
London
E1 6RA
29 May 2025
Page 1

 
M1 Agency (Nottingham) LLP
Registered number: OC435475

Balance sheet
As at 31 March 2024

31 March
30 September
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
193

  
-
193

Current assets
  

Debtors: amounts falling due within one year
 5 
28,376
37,902

Cash at bank and in hand
 6 
511,740
411,095

  
540,116
448,997

Creditors: Amounts Falling Due Within One Year
 7 
(68,194)
(29,280)

Net current assets
  
 
 
471,922
 
 
419,717

Total assets less current liabilities
  
471,922
419,910

  

Net assets
  
471,922
419,910


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 8 
471,922
419,910

  
471,922
419,910

  

  
471,922
419,910


Total members' interests
  

Amounts due from members (included in debtors)
 5 
-
(425,593)

Loans and other debts due to members
 8 
471,922
419,910

  
471,922
(5,683)

Page 2

 
M1 Agency (Nottingham) LLP
Registered number: OC435475

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 on 29 May 2025.




J Keeton
M Smith
Designated member
Designated member

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

M1 Agency (Nottingham) 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 3

 
M1 Agency (Nottingham) LLP
 

 
Notes to the financial statements
For the period ended 31 March 2024

1.


General information

The LLP is a limited liability partnership, incorporated and domiciled in England & Wales. The registered office is Bond House, 19 Woodstock Street, London, W1C 2AN and the principal activity is that of property consultancy 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

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

Interest income

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

 
2.4

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 .

Page 4

 
M1 Agency (Nottingham) LLP
 

 
Notes to the financial statements
For the period ended 31 March 2024

2.Accounting policies (continued)

 
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.

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:

Computer equipment
-
33%
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

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.

 
2.7

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.

 
2.8

Creditors

Short-term creditors are measured at the transaction price.

 
2.9

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.

The LLP has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the LLP's Balance sheet when the LLP becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially
Page 5

 
M1 Agency (Nottingham) LLP
 

 
Notes to the financial statements
For the period ended 31 March 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic 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
Page 6

 
M1 Agency (Nottingham) LLP
 

 
Notes to the financial statements
For the period ended 31 March 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

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.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the LLP transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the LLP will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the LLP's contractual obligations expire or are discharged or cancelled.


3.


Employees

31 March
30 September
2024
2023
£
£

Wages and salaries
37,522
32,500

Social security costs
4,331
3,522

41,853
36,022


The average monthly number of employees, including directors, during the Period was 3 (2023 - 3).

Page 7

 
M1 Agency (Nottingham) LLP
 

 
Notes to the financial statements
For the period ended 31 March 2024

4.


Tangible fixed assets







Computer equipment

£



Cost or valuation


At 1 October 2023
2,338



At 31 March 2024

2,338



Depreciation


At 1 October 2023
2,145


Charge for the Period on owned assets
193



At 31 March 2024

2,338



Net book value



At 31 March 2024
-



At 30 September 2023
193


5.


Debtors

31 March
30 September
2024
2023
£
£


Trade debtors
25,735
35,422

Prepayments and accrued income
2,641
2,480

28,376
37,902



6.


Cash and cash equivalents

31 March
30 September
2024
2023
£
£

Cash at bank and in hand
511,740
411,095


Page 8

 
M1 Agency (Nottingham) LLP
 

 
Notes to the financial statements
For the period ended 31 March 2024

7.


Creditors: Amounts falling due within one year

31 March
30 September
2024
2023
£
£

Trade creditors
6,204
5,731

Other taxation and social security
57,790
19,699

Accruals and deferred income
4,200
3,850

68,194
29,280



8.


Loans and other debts due to members


31 March
30 September
2024
2023
£
£



Other amounts due to members
471,922
419,910

471,922
419,910

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

31 March
30 September
2024
2023
£
£



Falling due within one year
471,922
419,910

471,922
419,910

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


9.


Controlling party

The LLP is under the control of its designated members.

Page 9