Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-31 2025-03-31 Provision of legal services 2024-04-01 false 55 52 false true The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC432888 2024-04-01 2025-03-31 OC432888 2024-01-01 2024-03-31 OC432888 2025-03-31 OC432888 2024-03-31 OC432888 c:Buildings 2024-04-01 2025-03-31 OC432888 c:Buildings c:LongLeaseholdAssets 2024-04-01 2025-03-31 OC432888 c:Buildings c:LongLeaseholdAssets 2025-03-31 OC432888 c:Buildings c:LongLeaseholdAssets 2024-03-31 OC432888 c:FurnitureFittings 2024-04-01 2025-03-31 OC432888 c:FurnitureFittings 2025-03-31 OC432888 c:FurnitureFittings 2024-03-31 OC432888 c:FurnitureFittings c:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 OC432888 c:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 OC432888 c:CurrentFinancialInstruments 2025-03-31 OC432888 c:CurrentFinancialInstruments 2024-03-31 OC432888 c:Non-currentFinancialInstruments 2025-03-31 OC432888 c:Non-currentFinancialInstruments 2024-03-31 OC432888 c:CurrentFinancialInstruments c:WithinOneYear 2025-03-31 OC432888 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC432888 c:Non-currentFinancialInstruments c:AfterOneYear 2025-03-31 OC432888 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 OC432888 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2025-03-31 OC432888 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-03-31 OC432888 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-04-01 2025-03-31 OC432888 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2025-03-31 OC432888 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-03-31 OC432888 c:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2024-04-01 2025-03-31 OC432888 c:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2025-03-31 OC432888 c:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2024-03-31 OC432888 d:FRS102 2024-04-01 2025-03-31 OC432888 d:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 OC432888 d:FullAccounts 2024-04-01 2025-03-31 OC432888 d:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 OC432888 2 2024-04-01 2025-03-31 OC432888 d:PartnerLLP1 2024-04-01 2025-03-31 OC432888 d:PartnerLLP2 2024-04-01 2025-03-31 OC432888 c:FurtherSpecificReserve3ComponentTotalEquity 2025-03-31 OC432888 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC432888 e:PoundSterling 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure

Registered number: OC432888 GULLANDS LLP UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 MARCH 2025
GULLANDS LLP REGISTERED NUMBER: OC432888 BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 12,981 |  | 12,420
|  |  | 12,981 |  | 12,420
Current assets |  |  |  |  |
Work in progress |  | 1,148,423 |  | 1,227,261 |
Debtors: amounts falling due within one year | 6 | 862,743 |  | 832,845 |
Cash at bank and in hand |  | 184,331 |  | 115,989 |
|  | 2,195,497 |  | 2,176,095 |
Creditors: Amounts Falling Due Within One Year | 7 | (575,392) |  | (688,141) |
Net current assets |  |  | 1,620,105 |  | 1,487,954
Total assets less current liabilities |  |  | 1,633,086 |  | 1,500,374
Creditors: amounts falling due after more than one year | 8 |  | (33,332) |  | (133,334)
|  |  | 1,599,754 |  | 1,367,040
Provisions for liabilities |  |  |  |  |
Other provisions | 10 | (21,043) |  | (20,946) |
|  |  | (21,043) |  | (20,946)
Net assets |  |  | 1,578,711 |  | 1,346,094
Represented by: |  |  |  |  |
Members' capital classified as a liability |  |  | 1,575,000 |  | 1,575,000
Other amounts | 11 |  | 3,711 |  | (228,906)
|  |  | 1,578,711 |  | 1,346,094
|  |  | 1,578,711 |  | 1,346,094
Total members' interests |  |  |  |  |
Loans and other debts due to members | 11 |  | 1,578,711 |  | 1,346,094
|  |  | 1,578,711 |  | 1,346,094
Page 1
GULLANDS LLP REGISTERED NUMBER: OC432888 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025 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:
P W Grylls | J L Roberts
Designated member | Designated member
Date: 31 October 2025 |
The notes on pages 4 to 13 form part of these financial statements. Gullands 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

|  | GULLANDS LLP |
RECONCILIATION OF MEMBERS' INTERESTS FOR THE YEAR ENDED 31 MARCH 2025
| DEBT Loans and other debts due to members less any amounts due from members in debtors
| Members' capital (classified as debt) | Other amounts | Total
| £ | £ | £
Balance at 31 December 2022 | 1,575,000 | (357,628) | 1,217,372
Members' remuneration charged as an expense | - | 321,709 | 321,709
Members' interests after profit for the year | 1,575,000 | (35,920) | 1,539,080
Amounts introduced by members | - | 341 | 341
Drawings on account and distribution of profit | - | (119,598) | (119,598)
Tax payments | - | (73,729) | (73,729)
Amounts due to members | 1,575,000 | (228,906) | 1,346,094
Balance at 31 March 2024 | 1,575,000 | (228,906) | 1,346,094
Members' remuneration charged as an expense | - | 950,188 | 950,188
Members' interests after profit for the year | 1,575,000 | 721,282 | 2,296,282
Amounts introduced by members | - | 47,292 | 47,292
Drawings on account and distribution of profit | - | (676,544) | (676,544)
Tax payments | - | (88,319) | (88,319)
Amounts due to members | 1,575,000 | 3,711 | 1,578,711
Balance at 31 March 2025 | 1,575,000 | 3,711 | 1,578,711
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

GULLANDS LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
Gullands LLP is a limited liability partnership incorporated in England and Wales in the United Kingdom. The address of the registered office is 16 Mill Street, Maidstone, Kent, ME15 6XT. The financial statements are presented in pound sterling, which is the functional currency of the partnership, rounded to the nearest £1. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the LLP's accounting policies (see note 3). The following principal accounting policies have been applied:
| 2.2 | Going concern
The Designated Members have considered the funding position, and having additionally considered the planned development of the business along with support from the Members, do not deem there to be any material uncertainty over going concern. Accordingly the financial statements have been prepared on the going concern basis which assumes that the LLP will continue in operation for the foreseeable future.
| 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 legal services Revenue from a contract to provide legal 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. Page 4
GULLANDS LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 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.
| 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 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.8 | 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 Balance sheet. The assets of the plan are held separately from the LLP in independently administered funds. Defined benefit pension plan The LLP is a member of a multi-employer plan. The assets are held separately from those of the LLP in separate trustee-administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit credit method and discounted at a rate equivalent to the current rate of return on a high quality corporate bond of equivalent term and currency to the liabilities. The actuarial valuations are obtained at least triennially and are updated at each Balance Sheet date. The LLP recognises its share of the scheme's deficit on the Balance Sheet. Movements in the deficit are included as part of the staff costs in the Statement of Comprehensive Income. Page 5
GULLANDS LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.9 | 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 the Statement of comprehensive income.
| 2.10 | 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:
|  |  |  | Leasehold improvements | - | 5% and 10% straight line
|  |  |  | Fixtures and fittings | - | 15% and 20% 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.
| 2.11 | Work in progress
Work in progress at the balance sheet date has been calculated using Financial Reporting Standard 102 principles. Work in progress is valued at the amount recoverable on the basis of time elapsed on client assignments as a multiple of staff charge rates, less any provisions for non-recoverable amounts.
| 2.12 | 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. Page 6
GULLANDS LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.13 | 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.
| 2.14 | 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.
| 2.15 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.16 | 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. Financial instruments are recognised in the LLP's Balance sheet when the LLP becomes party to the contractual provisions of the instrument. Basic financial assets Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs 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 receivables due with the operating cycle fall into this category of financial instruments. Impairment of financial assets Financial assets are assessed for indicators of impairment at each reporting date. 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 Page 7
GULLANDS LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.16 | Financial instruments (continued)
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. Financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments 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 payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially 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. 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. | Judgements in applying accounting policies and key sources of estimation uncertainty
No significant judgements have been made by management in preparing these financial statements other than those disclosed in note 2 above. Page 8
GULLANDS LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
4. | Employees
| The average monthly number of persons (including members with contracts of employment) employed during the year was as follows:
|  |  | 31 March | 3 months ended 31 March
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Employees | 55 | 52
5. | Tangible fixed assets
|  | Long-term leasehold property | Fixtures and fittings | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 April 2024 | 27,071 | 21,302 | 48,373
| Additions | - | 4,843 | 4,843
| At 31 March 2025 | 27,071 | 26,145 | 53,216
| Depreciation |  |  |
| At 1 April 2024 | 14,651 | 21,302 | 35,953
| Charge for the year on owned assets | 3,313 | 969 | 4,282
| At 31 March 2025 | 17,964 | 22,271 | 40,235
| Net book value |  |  |
| At 31 March 2025 | 9,107 | 3,874 | 12,981
| At 31 March 2024 | 12,420 | - | 12,420
Page 9
GULLANDS LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 725,794 | 677,537
| Other debtors | 2,429 | 4,400
| Prepayments and accrued income | 134,520 | 150,908
|  | 862,743 | 832,845
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank overdrafts | - | 155,735
| Bank loans | 100,000 | 100,000
| Trade creditors | 64,568 | 28,908
| Other taxation and social security | 238,564 | 204,091
| Other creditors | 13,871 | 13,879
| Accruals and deferred income | 158,389 | 185,528
|  | 575,392 | 688,141
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 33,332 | 133,334
|  | 33,332 | 133,334
Page 10
GULLANDS LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
9. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 100,000 | 100,000
|  | 100,000 | 100,000
| Amounts falling due 2-5 years |  |
| Bank loans | 33,332 | 133,334
|  | 33,332 | 133,334
|  | 133,332 | 233,334
| The Coronavirus Business Interruption Loan is unsecured and attracts interest on a floating rate basis at a margin of 3.54% per annum.
10. | Provisions
|  | Defined benefit pension scheme provision | Professional indemnity claims | Total
|  | £ | £ | £
| At 1 April 2024 | 946 | 20,000 | 20,946
| Charged to profit or loss | 97 | 20,000 | 20,097
| Utilised in year | - | (20,000) | (20,000)
| At 31 March 2025 | 1,043 | 20,000 | 21,043
Page 11
GULLANDS LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
11. | Loans and other debts due to members
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Members' capital treated as debt | 1,575,000 | 1,575,000
| Other amounts due to members | 3,711 | (228,906)
|  | 1,578,711 | 1,346,094
Loans and other debts due to members may be further analysed as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Falling due within one year | 1,578,711 | 1,346,094
|  | 1,578,711 | 1,346,094
Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up. Page 12
GULLANDS LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
12. | Pension commitments
The entity operates a defined contribution scheme for the benefit of its employees. Contributions are expensed as they become payable. The LLP is also a member of the With Profits Section of the Cheviot Trust Pension Scheme. This is a multi-employer scheme and was originally set up by the Cheviot Trust as a defined contribution scheme. The With Profits Section closed to new contributions in December 2002. In July 2014, new legislation re-classified the scheme as a cash balance scheme which meant it became subject to scheme specific funding requirements under the Pensions Act 2004. This means it is now effectively treated as a defined benefit scheme in the financial statements. With Profits Employers have a contractual obligation to fund any deficit in the With Profits Section if the Trustee considers it appropriate to require contributions. The most recent comprehensive Actuarial Valuation took place on 31 December 2020. This showed no deficit and the valuation was finalised on the basis that no contributions were required from employers. The actuarial report at 31 December 2021 also showed no deficit but the funding position deteriorated significantly during 2022 and the actuarial report at 31 December 2022 shows a deficit. The LLP has a 0.022% share in the With Profits Section of the Cheviot Trust Pension Scheme. At 31 March 2024, the total assets of the Scheme were valued at £60.3m (31 December 2023: £62.9m) and the total estimated liabilities excluding expenses were £64.6m (31 December 2023: £67.7m), giving an overall deficit of £4.3m (31 December 2023: £4.8m). The LLP's share of the deficit is therefore £946 (2023: £1,056) and is included in the balance sheet under provisions and recognised in the profit and loss account as an expense. The principal actuarial assumptions used are as follows: Discount rate: 4.80% p.a. (31 December 2023: 4.55% p.a.) RPI inflation: 3.65% p.a. (31 December 2023: 3.45% p.a.) CPI inflation: 2.65% p.a. (31 December 2023: 2.45% p.a.) Pension increases - fixed 3%: 3.00% p.a (31 December 2023: 3.00% p.a.) Pension increases - CPI up to 5%: 2.65% p.a. (31 December 2023: 2.45% p.a.) Pension increases - CPI up to 3%: 2.20% p.a. (31 December 2023: 2.10% p.a.) Mortality: 106% males / 99% females of S2PA tables - (CMI 2022) with a 1.5% long term rate and initial addition of 0.3% (31 December 2023: 106% males / 99% females of S2PA tables - (CMI 2021) with a 1.5% long term rate and initial addition of 0.3%) Expenses: No allowance (31 December 2023: No allowance)
Page 13