Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-31false2023-06-0121falseNo description of principal activity18trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SO305202 2023-06-01 2024-05-31 SO305202 2024-05-31 SO305202 2022-06-01 2023-05-31 SO305202 2023-05-31 SO305202 c:OfficeEquipment 2023-06-01 2024-05-31 SO305202 c:OfficeEquipment 2024-05-31 SO305202 c:OfficeEquipment 2023-05-31 SO305202 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 SO305202 c:CurrentFinancialInstruments 2024-05-31 SO305202 c:CurrentFinancialInstruments 2023-05-31 SO305202 c:CurrentFinancialInstruments 2 2024-05-31 SO305202 c:CurrentFinancialInstruments 2 2023-05-31 SO305202 c:CurrentFinancialInstruments c:WithinOneYear 2024-05-31 SO305202 c:CurrentFinancialInstruments c:WithinOneYear 2023-05-31 SO305202 e:FRS102 2023-06-01 2024-05-31 SO305202 e:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 SO305202 e:FullAccounts 2023-06-01 2024-05-31 SO305202 e:LimitedLiabilityPartnershipLLP 2023-06-01 2024-05-31 SO305202 2 2023-06-01 2024-05-31 SO305202 e:PartnerLLP3 2023-06-01 2024-05-31 SO305202 f:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure
Company registration number: SO305202







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MAY 2024


D J MACKAY AND PARTNERS LLP






































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D J MACKAY AND PARTNERS LLP
REGISTERED NUMBER:SO305202



STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
443
1,874

  
443
1,874

Current assets
  

Debtors: amounts falling due within one year
 5 
1,708,603
1,316,993

Cash at bank and in hand
  
6,537
12,366

  
1,715,140
1,329,359

Creditors: Amounts Falling Due Within One Year
 6 
(1,715,583)
(1,331,233)

Net current liabilities
  
 
 
(443)
 
 
(1,874)

Total assets less current liabilities
  
-
-

  

Net assets
  
-
-


Represented by:
  

Loans and other debts due to members within one year
  

  

  
-
-


Total members' interests
  

Amounts due from members (included in debtors)
 5 
(1,020,841)
(948,026)

  
(1,020,841)
(948,026)


Page 1

 


D J MACKAY AND PARTNERS LLP
REGISTERED NUMBER:SO305202


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 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 11 August 2025.




................................................
D J Mackay
Designated member

The notes on pages 3 to 7 form part of these financial statements.

D J Mackay and Partners 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

 


D J MACKAY AND PARTNERS LLP
 


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

1.


General information

The entity is a Limited Liability Partnership, which is incorporated and registered in Scotland. 
D J Mackay and Partners LLP operates from its registered office of 4th Floor Fountain House, 1-3 Woodside Crescent, Charing Cross, Glasgow, Scotland, G3 7UJ with registered number SO305202.
The financial statements are presented in sterling which is the functional currency of the company and 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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The following principal accounting policies have been applied:

 
2.2

Going concern

At the balance sheet date the LLP had net assets of £nil (2023 - £nil) and amounts due from members of £1,020,841 (2023 - £948,026). Based on financial projections prepared by the members, which take into account the continuing support of the LLP’s members the members consider that it is appropriate to prepare the financial statements on a going concern basis.

 
2.3

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.

 
2.4

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.
Page 3

 


D J MACKAY AND PARTNERS LLP
 


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

2.Accounting policies (continued)

 
2.5

Interest income

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

 
2.6

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.

 
2.7

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. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the Statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the Statement of financial position.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the Statement of comprehensive income and are equity appropriations in the Statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the Statement of financial position within 'Loans and other debts due to members' and are charged to the Statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of financial position within 'Members' other interests'.

Page 4

 


D J MACKAY AND PARTNERS LLP
 


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

2.Accounting policies (continued)

 
2.8

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
-
15%

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.

 
2.9

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 and loans to related parties.


3.


Employees

The average monthly number of employees, excluding members, during the year was 21 (2023 - 18).

Page 5

 


D J MACKAY AND PARTNERS LLP
 


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

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 June 2023
17,259



At 31 May 2024

17,259



Depreciation


At 1 June 2023
15,385


Charge for the year on owned assets
1,431



At 31 May 2024

16,816



Net book value



At 31 May 2024
443



At 31 May 2023
1,874


5.


Debtors

2024
2023
£
£


Trade debtors
53,367
37,533

Other debtors
355,354
134,215

Prepayments and accrued income
32,191
22,219

Amounts recoverable on long-term contracts
246,850
175,000

Amounts due from members
1,020,841
948,026

1,708,603
1,316,993


Page 6

 


D J MACKAY AND PARTNERS LLP
 


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

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
17,370
19,457

Other taxation and social security
11,118
37,001

Other creditors
1,669,975
1,265,975

Accruals and deferred income
17,120
8,800

1,715,583
1,331,233



7.


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 £13,332 (2023: £12,627). Contributions totalling £nil (2023 - £nil) were payable to the fund at the reporting date and are included in creditors.


8.


Related party transactions

At the Balance Sheet date, the entity owed £1,669,975 (2023: £1,265,975) to Proddow Mackay Solicitors LLP an entity under the same control as one of the members of the LLP. The loan is unsecured, interest free and repayable on demand.

 
Page 7