45
false
false
false
false
false
false
false
false
false
false
false
false
false
false
false
false
No description of principal activity
2022-04-01
Sage Accounts Production Advanced 2021 - FRS102_2021
195,000
19,500
19,500
39,000
156,000
175,500
xbrli:pure
xbrli:shares
iso4217:GBP
OC307915
2022-04-01
2023-03-31
OC307915
2023-03-31
OC307915
2022-03-31
OC307915
2021-04-01
2022-03-31
OC307915
2022-03-31
OC307915
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OC307915
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OC307915
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OC307915
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OC307915
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OC307915
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OC307915
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OC307915
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OC307915
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OC307915
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OC307915
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2023-03-31
REGISTERED NUMBER:
OC307915
RIAA BARKER GILLETTE (UK) LLP |
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
RIAA BARKER GILLETTE (UK) LLP |
|
YEAR ENDED 31 MARCH 2023
Designated members and professional advisers |
1 |
|
|
Statement of financial position |
2 to 3 |
|
|
Notes to the financial statements |
4 to 8 |
|
|
RIAA BARKER GILLETTE (UK) LLP |
|
DESIGNATED MEMBERS AND PROFESSIONAL ADVISERS |
|
Designated members |
J Gillette |
|
M Q Khanzada |
|
A Deal |
|
S M Jacobs |
|
J E McMullan |
|
L A St-Gallay |
|
B A Marks |
|
V G Holland |
|
|
Registered office |
18 Cavendish Square |
|
London |
|
W1G 0PJ |
|
|
Accountants |
BSG Valentine (UK) LLP |
|
Chartered Accountants |
|
Lynton House |
|
7 - 12 Tavistock Square |
|
London |
|
WC1H 9BQ |
|
|
RIAA BARKER GILLETTE (UK) LLP |
|
STATEMENT OF FINANCIAL POSITION |
|
31 March 2023
FIXED ASSETS
Intangible assets |
4 |
|
156,000 |
|
175,500 |
Tangible assets |
5 |
|
96,526 |
|
119,510 |
|
|
--------- |
|
--------- |
|
|
252,526 |
|
295,010 |
|
|
|
|
|
|
CURRENT ASSETS
Debtors |
6 |
2,090,314 |
|
2,723,804 |
|
Cash at bank and in hand |
1,675,941 |
|
1,731,975 |
|
|
------------ |
|
------------ |
|
|
3,766,255 |
|
4,455,779 |
|
|
|
|
|
|
|
CREDITORS: amounts falling due within one year |
7 |
309,208 |
|
338,061 |
|
|
------------ |
|
------------ |
|
NET CURRENT ASSETS |
|
3,457,047 |
|
4,117,718 |
|
|
------------ |
|
------------ |
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
3,709,573 |
|
4,412,728 |
|
|
------------ |
|
------------ |
NET ASSETS |
|
3,709,573 |
|
4,412,728 |
|
|
------------ |
|
------------ |
|
|
|
|
|
|
REPRESENTED BY:
LOANS AND OTHER DEBTS DUE TO MEMBERS
Other amounts |
8 |
|
2,523,421 |
|
3,101,187 |
|
|
|
|
|
|
MEMBERS' OTHER INTERESTS
Members' capital classified as equity |
|
1,186,152 |
|
1,311,541 |
Other reserves |
|
– |
|
– |
|
|
------------ |
|
------------ |
|
|
3,709,573 |
|
4,412,728 |
|
|
------------ |
|
------------ |
|
|
|
|
|
TOTAL MEMBERS' INTERESTS
Loans and other debts due to members |
8 |
|
2,523,421 |
|
3,101,187 |
Members' other interests |
|
1,186,152 |
|
1,311,541 |
|
|
------------ |
|
------------ |
|
|
3,709,573 |
|
4,412,728 |
|
|
------------ |
|
------------ |
|
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the income statement has not been delivered.
For the year ending 31 March 2023 the LLP 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 LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements
.
RIAA BARKER GILLETTE (UK) LLP |
|
STATEMENT OF FINANCIAL POSITION (continued) |
|
31 March 2023
These financial statements were approved by the
members
and authorised for issue on
14 September 2023
, and are signed on their behalf by:
Registered number:
OC307915
RIAA BARKER GILLETTE (UK) LLP |
|
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 31 MARCH 2023
The LLP is registered in England and Wales. The address of the registered office is 18 Cavendish Square, London, W1G 0PJ.
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Members' participation rights
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 income statement 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 income statement 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 income statement 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'.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Over 10 years |
- |
10% straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Leasehold property |
- |
Over 10 years |
|
Furniture and equipment |
- |
15% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the LLP are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the LLP becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to
45
(2022:
48
).
|
Goodwill |
|
£ |
Cost |
|
At 1 April 2022 and 31 March 2023 |
195,000 |
|
--------- |
Amortisation |
|
At 1 April 2022 |
19,500 |
Charge for the year |
19,500 |
|
--------- |
At 31 March 2023 |
39,000 |
|
--------- |
Carrying amount |
|
At 31 March 2023 |
156,000 |
|
--------- |
At 31 March 2022 |
175,500 |
|
--------- |
|
|
|
Leasehold property |
Furniture and equipment |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 April 2022 |
160,309 |
531,999 |
692,308 |
Additions |
– |
5,546 |
5,546 |
Other movements |
(
160,309) |
– |
(
160,309) |
|
--------- |
--------- |
--------- |
At 31 March 2023 |
– |
537,545 |
537,545 |
|
--------- |
--------- |
--------- |
Depreciation |
|
|
|
At 1 April 2022 |
160,309 |
412,489 |
572,798 |
Charge for the year |
– |
28,530 |
28,530 |
Other movements |
(
160,309) |
– |
(
160,309) |
|
--------- |
--------- |
--------- |
At 31 March 2023 |
– |
441,019 |
441,019 |
|
--------- |
--------- |
--------- |
Carrying amount |
|
|
|
At 31 March 2023 |
– |
96,526 |
96,526 |
|
--------- |
--------- |
--------- |
At 31 March 2022 |
– |
119,510 |
119,510 |
|
--------- |
--------- |
--------- |
|
|
|
|
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
1,307,046 |
1,786,844 |
Other debtors |
783,268 |
936,960 |
|
------------ |
------------ |
|
2,090,314 |
2,723,804 |
|
------------ |
------------ |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Trade creditors |
13,032 |
18,286 |
Social security and other taxes |
268,372 |
300,692 |
Other creditors |
27,804 |
19,083 |
|
--------- |
--------- |
|
309,208 |
338,061 |
|
--------- |
--------- |
|
|
|
8. |
Loans and other debts due to members |
|
|
|
2023 |
2022 |
|
£ |
£ |
Amounts owed to members in respect of profits |
2,523,421 |
3,101,187 |
|
------------ |
------------ |
|
|
|
In the opinion of the members there is no controlling party.