Limited Liability Partnership registration number OC417922 (England and Wales)
MERCORE COMPLIANCE LLP (FORMERLY KNOWN AS CAMPION WILLCOCKS COMPLIANCE LLP)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
MERCORE COMPLIANCE LLP (FORMERLY KNOWN AS CAMPION WILLCOCKS COMPLIANCE LLP)
LIMITED LIABILITY PARTNERSHIP INFORMATION
Designated members
Dewline Resourcing Limited
Dewline Consulting and Business Services Limited
LLP registration number
OC417922
Registered office
55 King William Street
London
EC4R 9AD
Accountants
Rouse Partners LLP
55 Station Road
Beaconsfield
Buckinghamshire
United Kingdom
HP9 1QL
MERCORE COMPLIANCE LLP (FORMERLY KNOWN AS CAMPION WILLCOCKS COMPLIANCE LLP)
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
MERCORE COMPLIANCE LLP (FORMERLY KNOWN AS CAMPION WILLCOCKS COMPLIANCE LLP)
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
2
1,416,390
1,340,786
Cash at bank and in hand
315,494
1,161,776
1,731,884
2,502,562
Creditors: amounts falling due within one year
3
(1,310,340)
(1,966,643)
Net current assets
421,544
535,919
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
411,544
526,929
Members' other interests
Members' capital classified as equity
10,000
8,990
421,544
535,919
Total members' interests
Loans and other debts due to members
411,544
526,929
Members' other interests
10,000
8,990
421,544
535,919

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

For the financial year ended 31 October 2024 the limited liability partnership 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 relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act as applied to limited liability partnerships with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The financial statements were approved by the members and authorised for issue on 18 July 2025 and are signed on their behalf by:
18 July 2025
C Lazenby
Limited Liability Partnership Registration No. OC417922
MERCORE COMPLIANCE LLP (FORMERLY KNOWN AS CAMPION WILLCOCKS COMPLIANCE LLP)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 2 -
1
Accounting policies
Limited liability partnership information

Mercore Compliance LLP (Formerly known as Campion Willcocks Compliance LLP) is a limited liability partnership incorporated in England and Wales. The registered office is 55 King William Street, London, EC4R 9AD.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the amounts receivable for professional services net of VAT.

1.3
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

 

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

 

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

1.4
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

MERCORE COMPLIANCE LLP (FORMERLY KNOWN AS CAMPION WILLCOCKS COMPLIANCE LLP)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Basic financial liabilities

Basic financial liabilities, including creditors that are classified as debt, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price.

1.6
Equity instruments

Equity instruments issued by the limited liability partnership are recorded at the proceeds received, net of direct issue costs.

1.7
Retirement benefits and post retirement payments to members

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
702,443
1,288,772
Other debtors
713,947
52,014
1,416,390
1,340,786
MERCORE COMPLIANCE LLP (FORMERLY KNOWN AS CAMPION WILLCOCKS COMPLIANCE LLP)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 4 -
3
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
549,537
1,589,264
Taxation and social security
-
253,266
Other creditors
760,803
124,113
1,310,340
1,966,643
4
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

5
Operating lease commitments
Lessee

At the reporting end date the limited liability partnership had outstanding commitments for future minimum lease payments under non-cancellable property rental operating leases, as follows:

2024
2023
£
£
Within one year
195,313
195,313
Between two and five years
781,250
937,500
In over five years
-
39,063
Total
976,563
1,171,876
6
Members' transactions

At the year ended 31 October 2024 the limited liability partnership was owed £288,111 (2023: £1,111,373) by its designated members.

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