Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-31 2025-03-31 false false 2024-04-01 LLP 0 0 true false OC302512 2024-04-01 2025-03-31 OC302512 2023-04-01 2024-03-31 OC302512 2025-03-31 OC302512 2024-03-31 OC302512 2023-04-01 OC302512 c:LeaseholdInvestmentProperty 2025-03-31 OC302512 c:LeaseholdInvestmentProperty 2024-03-31 OC302512 c:LeaseholdInvestmentProperty 2 2024-04-01 2025-03-31 OC302512 c:CurrentFinancialInstruments 2025-03-31 OC302512 c:CurrentFinancialInstruments 2024-03-31 OC302512 c:Non-currentFinancialInstruments 2025-03-31 OC302512 c:Non-currentFinancialInstruments 2024-03-31 OC302512 c:CurrentFinancialInstruments c:WithinOneYear 2025-03-31 OC302512 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC302512 c:Non-currentFinancialInstruments c:AfterOneYear 2025-03-31 OC302512 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 OC302512 c:OtherMiscellaneousReserve 2024-04-01 2025-03-31 OC302512 c:OtherMiscellaneousReserve 2025-03-31 OC302512 c:OtherMiscellaneousReserve 2024-03-31 OC302512 c:OtherMiscellaneousReserve 2023-04-01 OC302512 e:FRS102 2024-04-01 2025-03-31 OC302512 e:Audited 2024-04-01 2025-03-31 OC302512 e:FullAccounts 2024-04-01 2025-03-31 OC302512 e:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 OC302512 e:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 OC302512 2 2024-04-01 2025-03-31 OC302512 e:PartnerLLP11 2024-04-01 2025-03-31 OC302512 c:FurtherSpecificReserve2ComponentTotalEquity 2025-03-31 OC302512 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC302512 c:FurtherSpecificReserve3ComponentTotalEquity 2025-03-31 OC302512 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC302512 f:PoundSterling 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure

Registered number: OC302512 ELLIS AND CUNNINGHAM LLP AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
ELLIS AND CUNNINGHAM LLP REGISTERED NUMBER: OC302512 BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investment property | 6 |  | 1,340,000 |  | 1,829,000
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 7 | 1,680 |  | 8,542 |
Cash at bank and in hand | 8 | 150,606 |  | 149,175 |
Creditors: Amounts Falling Due Within One Year | 9 | (25,645) |  | (24,595) |
Net current assets |  |  | 126,641 |  | 133,122
Total assets less current liabilities |  |  | 1,466,641 |  | 1,962,122
Creditors: amounts falling due after more than one year | 10 |  | (197,884) |  | (215,444)
Net assets |  |  | 1,268,757 |  | 1,746,678
Represented by: |  |  |  |  |
Loans and other debts due to members within one year |  |  |  |  |
Members' capital classified as a liability |  |  | 276,000 |  | 276,000
Other amounts | 11 |  | 604,134 |  | 593,054
|  |  | 880,134 |  | 869,054
Members' other interests |  |  |  |  |
Other reserves classified as equity |  | 388,623 |  | 877,624 |
|  |  | 388,623 |  | 877,624
|  |  | 1,268,757 |  | 1,746,678
Total members' interests |  |  |  |  |
Loans and other debts due to members | 11 |  | 880,134 |  | 869,054
Members' other interests |  |  | 388,623 |  | 877,624
Members' funds |  |  | 1,268,757 |  | 1,746,678
Page 1
ELLIS AND CUNNINGHAM LLP REGISTERED NUMBER: OC302512 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 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:
Mr W D Ellis
Designated member
Date: 11 March 2026
The notes on pages 4 to 10 form part of these financial statements. Page 2
ELLIS AND CUNNINGHAM LLP STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2025
| Other reserves | Total equity
| £ | £
At 1 April 2023 | 944,624 | 944,624
Comprehensive income for the year |  |
Loss for year for discretionary division among members | (67,000) | (67,000)
At 1 April 2024 | 877,624 | 877,624
Comprehensive income for the year |  |
Loss for year for discretionary division among members | (489,000) | (489,000)
At 31 March 2025 | 388,624 | 388,624
The notes on pages 4 to 10 form part of these financial statements.
Page 3
ELLIS AND CUNNINGHAM LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
Ellis and Cunningham LLP is a Limited Liability Partnership, limited by members capital, incorporated in England and Wales. The LLP's registered office is 2 Randalls Lane, Burley, Ringwood, Hampshire, BH24 4HJ. The Partnership's company house registration number is OC302512. 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 financial statements are presented in sterling which is the functional currency of the LLP and rounded to the nearest £. The following principal accounting policies have been applied:
| 2.2 | Compliance with accounting standards
The financial statements have been prepared using FRS102, the financial reporting standards applicable in the UK and Republic of Ireland, including the disclosure and presentation requirements of Section 1A, applicable to LLP. There were no material depatures from that standard.
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benfits 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. Rental income is recognised over the life time of the lease.
| 2.4 | Going concern
The accounts have been prepared on going concern basis because LLP continues to meet its liabilibities as and when they fall due. The LLP continues to generate sufficient operating profit and cashflows from its investment property to meet its liabilities as they fall due to the fair value losses which have no impact on the cashflow ands the ability of the company to meet its liabilities are drivers for the current year and prior year loss.
| 2.5 | Interest income
Interest income is recognised inthe Statement of comprehensive income using the effective interest method. Page 4
ELLIS AND CUNNINGHAM LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.6 | Finance costs
Finance consts are charged to the Statement of comprehensive income 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 | Investment Property
Investment property is carried at fair value determined annually by a designated member and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.
| 2.8 | Debtors
Short term debtors are measured at transaction price, less any impairment.
| 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 . 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.
| 2.10 | 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.
| 2.11 | 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. Page 5
ELLIS AND CUNNINGHAM LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.12 | 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. 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 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 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 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. Page 6
ELLIS AND CUNNINGHAM LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.12 | Financial instruments (continued)
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 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
The fair value of the investment properties are calculated based upon a range determined with reference to the rental yield of similar commercial properties. There is not a single yield percentage but a small range. The value of the property will vary subject to the yield in the range chosen.
4. | Employees
| The LLP has no employees.
5. | Information in relation to members
The total number of LLP members is 16 for the current year and 16 for the prior year. Page 7
ELLIS AND CUNNINGHAM LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
6. | Investment property
|  | Investment property
|  | £
| Valuation |
| At 1 April 2024 | 1,829,000
| Loss on revaluation | (489,000)
| At 31 March 2025 | 1,340,000
The 2025 valuations were made by Mr W D Ellis, a designated member of the LLP, on an open market value for existing use basis.
7. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other debtors | 40 | -
| Prepayments and accrued income | 1,642 | 8,543
|  | 1,682 | 8,543
8. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 150,606 | 149,175
9. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 17,842 | 16,831
| Accruals and deferred income | 7,803 | 7,764
|  | 25,645 | 24,595
Page 8
ELLIS AND CUNNINGHAM LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
10. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank Loans | 197,884 | 215,444
| The bank loan is secured over the LLP's investment property.
| The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts payable via instalments | 126,514 | 148,120
The bank loan term ends on the 31 December 2031. Interest is charged at 1.25% above base rate.
11. | Loans and other debts due to members
Loans and other debts due to members may be further analysed as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Members' capital treated as debt | 276,000 | 276,000
| Other amounts due to members | 604,134 | 593,054
|  | 880,134 | 869,054
Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up. Page 9
ELLIS AND CUNNINGHAM LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
12. | Reconciliation of members' interests
| 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 | Members' capital (classified as debt) | Other amounts | Total | Total
| £ | £ | £ | £ | £
Amounts due to members |  | 276,000 | 569,240 | 845,240 |
Balance at 1 April 2023 | 944,624 | 276,000 | 569,240 | 845,240 | 1,789,864
Loss for the year available for discretionary division among members | (67,001) | - | - | - | (67,001)
Members' interests after loss for the year | 877,623 | 276,000 | 569,240 | 845,240 | 1,722,863
Other division of losses | - | - | 54,765 | 54,765 | 54,765
Drawings | - | - | (30,951) | (30,951) | (30,951)
Amounts due to members |  | 276,000 | 593,054 | 869,054 |
Balance at 31 March 2024 | 877,624 | 276,000 | 593,054 | 869,054 | 1,746,678
Loss for the year available for discretionary division among members | (489,001) | - | - | - | (489,001)
Members' interests after loss for the year | 388,623 | 276,000 | 593,054 | 869,054 | 1,257,677
Other division of losses | - | - | 73,081 | 73,081 | 73,081
Drawings | - | - | (62,001) | (62,001) | (62,001)
Amounts due to members |  | 276,000 | 604,134 | 880,134 |
Balance at 31 March 2025 | 388,623 | 276,000 | 604,134 | 880,134 | 1,268,757
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. The notes on pages 4 to 8 form part of these financial statements.
13. | Auditors' information
The auditors' report on the financial statements for the year ended 31 March 2025 was unqualified. The audit report was signed on 11 March 2026 by Mark Nelligan FCA (Senior Statutory Auditor) on behalf of Wellden Turnbull Limited.
Page 10