Registered number:
FOR THE YEAR ENDED 31 MARCH 2023
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FAULKNERBROWNS LLP
INFORMATION
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FAULKNERBROWNS LLP
CONTENTS
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FAULKNERBROWNS LLP
MEMBERS' REPORT
FOR THE YEAR ENDED 31 MARCH 2023
The members present their annual report together with the audited financial statements of Faulknerbrowns LLP (the "LLP") for the year ended 31 March 2023.
Principal activities
The principal object of the LLP is to provide Architectural services. About FaulknerBrowns is a multi-award winning practice of architects, designers and masterplanners which is internationally recognised for an ability to re-interpret typologies and design places where people do better. We are an architectural design practice with a long-established reputation for designing innovative and operationally successful buildings and masterplans across Europe, the Middle East and North America. Our work covers a broad range of sectors, including feasibility studies for sport and leisure, education, residential and commercial projects. With talented teams in the UK, Ireland and Canada, we have the flexibility to react to the needs of our clients, whilst maintaining a ‘one studio culture’ – a connected entity with effective communication and knowledge sharing. Our cosmopolitan mix of people from around the world also provides us with a diverse range of expertise. This experience and knowledge of different building types and locations allows us to challenge and re-interpret traditional solutions. At feasibility stage, we spend time carefully weighing pragmatic considerations with ambition and innovation, to create exciting and commercially successful places. One example of this approach is innovatively combining sport, education and community services. Across high-performance aquatic and dry sport facilities, we have questioned the status quo to show that integrating community leisure engages the widest cross section of the community in sport. These buildings and places drive physical and mental wellbeing and encourage communities to gather. Similarly, with our experience in elite cycling venues, our analysis of existing velodrome shortfalls has allowed us to evolve the building typology to create venues with diverse sport, leisure and events programmes. The result of challenging typologies is added value for our clients and end uses; our projects are award winning for exemplary design, community impact, sustainability, and functional efficiency. Our process is creative and innovative We combine our considerable experience with research and testing through making to create designs that go beyond our clients’ aspirations. First, we look and listen. Every project at feasibility stage starts by developing a deep understanding of the local context, through physical, material, social and economic analysis of place. We believe in then looking at a broader picture, to take inspiration from examples of best practice in building design and placemaking. We use research visits at home and abroad to inform our thinking and bring innovative ideas to the places we design. Our research also includes new materials, systems, and processes to ensure we deliver architecture of enduring quality.
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FAULKNERBROWNS LLP
MEMBERS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Climate and carbon
In parallel with ingenuity in approach, our team drives sustainable design innovation. We have developed skills and expertise in net zero carbon strategies, lifecycle carbon modelling, Passivhaus principles and BREEAM advisory services. We have also linked specialist software to our BIM models to define the carbon performance of our projects and to inform a database of building types. During 2022/2023 we have continued to invest in software and time spent analysing new projects from a carbon perspective, as well as completed projects to help establish industry benchmarks for sports and leisure buildings. With our clients and professional colleagues, we strive to set ambitious targets for carbon reduction at the early stages of a project, and we support the robust framework offered by the RIBA’s 2030 Climate Change initiative. This brings added value to the places we create; in 2022 we completed Ravelin Sports Centre, an ultra-low energy sports facility which received a BREEAM Outstanding award and has demonstrated an operational energy consumption of less than 100 kWh/m2/yr – around one tenth of a typical sports centre. We have also applied these principles to our own activity as a company, by establishing a zero-carbon target aligned with the UN Race to Zero and developing a practice decarbonisation plan to 2030. Finally, we bring creativity to the design process by testing through making. We build, test and review our projects both digitally and physically, with the support of our in house modelshop. Using models maintains strong communication with clients and stakeholders throughout the design process and is particularly useful at feasibility stage, to ensure ideas and concepts are conveyed clearly. This overall combination of technical innovation and creative thinking in our design process sets us apart, and we truly delight in the repeat commissions and collaborative relationships we forge with our clients as a result. Placemaking and connectivity We firmly believe that successful places are created by weaving into the existing networks and infrastructure of any given site. Where new cultural destinations are being considered, especially at the feasibility stage, we believe the ability to link into existing activity networks is highly advantageous. We are passionate about finding ways to build our architectural concepts from heritage and place and strive to form a strong bond between new and old by developing tangible yet contemporary references to a project’s context. Designing places that promote activity is a key part of our approach to placemaking. Whilst leisure buildings can provide an essential focus for both team and individual activity, good design has a key role to play in creating active places and effective active infrastructure in our towns and cities. We believe the relationship between buildings, places and infrastructure can be critical in promoting active lifestyles, increased public engagement and significantly aid in the creation of new social destinations. Social, environmental and commercial sustainability are at the heart of our thinking. We consider them to be mutually interrelated – with good design, no single aspect need be sacrificed. Considering this from feasibility stage means that as well as delivering added value for our clients, we deliver maximum social value. This year, our approach was recognised with the Architects’ Journal AJ100 Award for ‘Community Impact of the Year’. The combination of experience, ingenuity and a focus on ‘place’ before ‘space’, at feasibility stage and beyond, is why our clients keep returning to us to deliver well grounded and innovative buildings and places.
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FAULKNERBROWNS LLP
MEMBERS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Awards won
This year, our projects have won 23 of the industry’s most prestigious design and property awards, including the Royal Institute of British Architects (RIBA) Awards and the New London Architecture Awards. Across both completed buildings and ongoing projects, our work has been recognised and celebrated for its quality, innovation and successful placemaking. This includes winning the British Council for Offices ‘Best of the Best’ award for the second time, an accolade which has only been achieved by a handful of architectural practices. Our overall contribution to the industry has also been recognised, with the ‘Architect of the Year’ award from the Architects’ Journal and the ‘Retail and Leisure Architect of the Year’ award from Building Design magazine. Highlights include: New London Architecture Awards, Overall Winner and ‘Culture’ Winner, Britannia Leisure Centre Royal Institute of British Architects (RIBA), Regional Award, Newcastle Civic Centre AJ Architecture Awards, Civic Winner, City Hall Sunderland AJ Architecture Awards, Architect of the Year, FaulknerBrowns British Council for Offices, ‘Best of the Best’ and Best Corporate Workplace, City Hall Sunderland AJ Retrofit Awards, Workplace £10+ Winner, Newcastle Civic Centre Pineapple Awards for Place, Best Future Place, Riverside Sunderland Masterplan Architects’ Journal AJ100 Awards, Community Impact of the Year, Britannia Leisure Centre Building Design Architect of the Year Awards, Retail and Leisure Winner, FaulknerBrowns Mixology North Awards, Public Sector and Cultural Interiors Project of the Year, City Hall Sunderland Looking at the year ahead Workload in consumer-related areas such as residential, retail, and hotel & leisure remains constrained by the impact of high rates of inflation, higher taxes, and rising mortgage costs through 2023. As we look to 2024, public-sector and education-linked investment through several regional opportunities is helping to offset these constraints and front-end design stage work in this area continues to reinforce our UK workload, albeit this is not immune to the challenging values and investment appraisals of 2023. As with our outlook last year, we continue to focus on opening-up new opportunities in new markets – our European and Middle Eastern workload in the near-term focuses on mixed-use regeneration and sports and recreation. In summary, 2024 will continue to focus on positioning and retaining our exposure and talent to challenge and deliver.
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FAULKNERBROWNS LLP
MEMBERS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Going concern
At the balance sheet date, the LLP had net assets of £2,419,313, net current assets of £2,242,721 and cash resources of £1,208,879. The Members have prepared cash flow forecasts covering a period of 14 months from the date of the approval of these financial statements which indicate that, the LLP will have sufficient funds to meet its liabilities as they fall due for that period. The LLP is financed through the capital introduced by the members, bank loans and by profits retained within the business. The LLP has facilities with the bank which are renewed annually to provide working capital. Where appropriate, the LLP will negotiate additional finance to assist in capital expenditure projects. The annual budgets and forecasts take account of the expected changes in the trading performance due to the COVID-19 risk and inherent uncertainty around the impact of the pandemic on the UK society and economy. These budgets and forecasts demonstrate that the LLP expects to be able to operate within its current facilities. The Members having assessed the risk to the LLP and concluded that it is not significantly exposed and it is well placed to continue to operate and manage the situation. Consequently, the members are confident they will have sufficient funds to continue to meet liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on the going concern basis.
There have been no changes in the objectives since the last annual report.
Designated Members
B M Sykes, L C McLaughlin and S A McIntyre were designated members of the LLP throughout the period.
Members
M J Hall, P Richardson, P Rigby, K G Logan, N J Durney and P J McMahon were members of the LLP throughout the period.
Members' capital and interests
Each member's subscription to the capital of the LLP is determined by their share of the profit and is repayable following retirement from the LLP.
Details of changes in members' capital in the year ended 31 March 2023 are set out in the financial statements.
Members are remunerated from the profits of the LLP and are required to make their own provision for pensions and other benefits. Profits are allocated and divided between members after finalisation of the financial statements. Members draw a proportion of their profit shares monthly during the year in which it is made, with the balance of profits being distributed after the year, subject to the cash requirements of the business.
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FAULKNERBROWNS LLP
MEMBERS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Members' responsibilities statement
The members are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law, (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period.
In preparing these financial statements, the members are required to:
∙select suitable accounting policies and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business.
The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and to enable them to ensure that the financial statements comply with the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of the Companies Act 2006) Regulations 2008). They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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FAULKNERBROWNS LLP
MEMBERS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
Disclosure of information to auditors
Each of the persons who are members at the time when this Members' Report is approved has confirmed that:
∙so far as that member is aware, there is no relevant audit information of which the LLP's auditors are unaware, and
∙that member has taken all the steps that ought to have been taken as a member in order to be aware of any relevant audit information and to establish that the LLP's auditors are aware of that information.
This report was approved by the members on 12 January 2024 and signed on their behalf by:
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FAULKNERBROWNS LLP
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FAULKNERBROWNS LLP
We have audited the financial statements of Faulknerbrowns LLP (the 'LLP') for the year ended 31 March 2023, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the LLP in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the members' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the LLP's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the members with respect to going concern are described in the relevant sections of this report.
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FAULKNERBROWNS LLP
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FAULKNERBROWNS LLP (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The members are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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FAULKNERBROWNS LLP
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FAULKNERBROWNS LLP (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which the audit was considered capable of detecting irregularities including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: • the responsible individual ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; • we identified the laws and regulations applicable to the LLP through discussions with members and other management, and from our commercial knowledge and experience of the architectural sector; • we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the LLP, including the Companies Act 2006 and other legislation identified as being of significance e.g. taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation. • we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and • we ensured that the identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the LLP’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: - • making enquiries of management as to where they considered there was susceptibility to fraud and their knowledge of actual, suspected and alleged fraud; and • considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: - • performed analytical procedures to identify any unusual or unexpected relationships; • tested journal entries to identify unusual transactions; and • assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: - • agreeing financial statement disclosures to underlying supporting documentation; • reading the minutes of meetings of those charged with governance; • enquiring of management as to actual and potential litigation and claims; and • reviewing correspondence with HMRC, relevant regulators and the LLP’s legal expenditure.
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FAULKNERBROWNS LLP
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FAULKNERBROWNS LLP (CONTINUED)
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the members and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
This report is made solely to the LLP's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, as applied by Part 12 of The Limited Liability Partnerships (Accounts and Audit) (Applications of Companies Act 2006) Regulations 2008. Our audit work has been undertaken so that we might state to the LLP's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and the LLP's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
32 Portland Terrace
NE2 1QP
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FAULKNERBROWNS LLP
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2023
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FAULKNERBROWNS LLP
REGISTERED NUMBER: OC386918
BALANCE SHEET
AS AT 31 MARCH 2023
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FAULKNERBROWNS LLP
REGISTERED NUMBER: OC386918
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023
The financial statements were approved and authorised for issue by the members and were signed on their behalf on
The notes on pages 17 to 34 form part of these financial statements.
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FAULKNERBROWNS LLP
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023
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FAULKNERBROWNS LLP
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2023
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FAULKNERBROWNS LLP
STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
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FAULKNERBROWNS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Faulknerbrowns LLP is a Limited Liability Partnership registered in England and Wales, registration number OC386918. The registered office is Dobson House, Northumbrian Way, Killingworth, Newcastle upon Tyne, Tyne & Wear, NE12 6QW.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the LLP's accounting policies (see note 3).
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The following principal accounting policies have been applied:
The LLP, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
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FAULKNERBROWNS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
2.Accounting policies (continued)
The firm had net assets of £2,419,313 at 31 March 2023.
The Members have prepared cash flow forecasts covering a period of 14 months from the date of the approval of these financial statements which indicate that, the LLP will have sufficient funds to meet its liabilities as they fall due for that period. The LLP is financed through the capital introduced by the members, bank loans and by profits retained within the business. The LLP has facilities with the bank which are renewed annually to provide working capital. Where appropriate, the LLP will negotiate additional finance to assist in capital expenditure projects. The annual budgets and forecasts take account of the expected changes in the trading performance due to the COVID-19 risk and inherent uncertainty around the impact of the pandemic on the UK society and economy. These budgets and forecasts demonstrate that the LLP expects to be able to operate within its current facilities. The Members having assessed the risk to the LLP and concluded that it is not significantly exposed and it is well placed to continue to operate and manage the situation. Consequently, the members are confident they will have sufficient funds to continue to meet liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on the going concern basis.
Functional and presentation currency
Transactions and balances
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FAULKNERBROWNS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
2.Accounting policies (continued)
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.
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FAULKNERBROWNS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
2.Accounting policies (continued)
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.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.
Depreciation is provided on the following basis:
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.
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FAULKNERBROWNS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
2.Accounting policies (continued)
Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.
The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
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FAULKNERBROWNS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
2.Accounting policies (continued)
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.
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.
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FAULKNERBROWNS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Analysis of turnover by country of destination:
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FAULKNERBROWNS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
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FAULKNERBROWNS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
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FAULKNERBROWNS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
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FAULKNERBROWNS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
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FAULKNERBROWNS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
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FAULKNERBROWNS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Bank loans are secured by a debenture dated 12 May 2014.
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FAULKNERBROWNS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Bank loans are secured by a debenture dated 12 May 2014.
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FAULKNERBROWNS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Loans and other debts due to members may be further analysed as follows:
Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.
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FAULKNERBROWNS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
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FAULKNERBROWNS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
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 £334,652 (2022 - £263,550). Contributions totalling £36,456 (2022 - £20,974) were payable to the fund at the balance sheet date.
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FAULKNERBROWNS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
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