H & C Consulting Actuaries LLP - LLP accounts 20.1

REGISTERED NUMBER: OC315112 (England and Wales)

Report of the Members and

Unaudited Financial Statements for the Year Ended 31 March 2022

for

H & C Consulting Actuaries LLP

Page

General Information

1

Report of the Members

2

Chartered Accountants' Report

3

Profit and Loss

4

Balance Sheet

5

to

6

Reconciliation of Members' Interests

7

to

8

Notes to the Financial Statements

9

to

11

DESIGNATED MEMBERS:

Mr A N Pearse

Mr C J Hunter

Mr G J Hatch

REGISTERED OFFICE:

Bolan House

19 Front Street

Acomb

York

North Yorkshire

YO24 3BW

REGISTERED NUMBER:

OC315112 (England and Wales)

ACCOUNTANTS:

Harris & Co Limited

Chartered Accountants

Marland House

13 Huddersfield Road

Barnsley

South Yorkshire

S70 2LW

The members present their report with the financial statements of the Llp for the year ended 31 March 2022.

PRINCIPAL ACTIVITY

The principal activity of the Llp in the year under review was that of consulting actuaries.

DESIGNATED MEMBERS

The designated members during the year under review were:

Mr A N Pearse

Mr C J Hunter

Mr G J Hatch

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £460,997 (2021 - £475,119 profit).

MEMBERS' INTERESTS

Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP. New Members are required to subscribe a minimum level of capital and in subsequent years Members are invited to subscribe for further capital, the amounts of which is determined by the performance and seniority of those Members. On retirement, capital is repaid to Members.

ON BEHALF OF THE MEMBERS:

Mr A N Pearse - Designated member

23 September 2022

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of H & C Consulting Actuaries LLP for the year ended 31 March 2022 which comprise the Profit and Loss, Balance Sheet, Reconciliation of Members' Interests and the related notes from the Llp's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of H & C Consulting Actuaries LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of H & C Consulting Actuaries LLP and state those matters that we have agreed to state to the members of H & C Consulting Actuaries LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than H & C Consulting Actuaries LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that H & C Consulting Actuaries LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of H & C Consulting Actuaries LLP. You consider that H & C Consulting Actuaries LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of H & C Consulting Actuaries LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Harris & Co Limited

Chartered Accountants

Marland House

13 Huddersfield Road

Barnsley

South Yorkshire

S70 2LW

23 September 2022

TURNOVER

1,655,119

1,638,192

Administrative expenses

1,151,918

1,128,643

503,201

509,549

Other operating income

5,000

6,985

OPERATING PROFIT

5

508,201

516,534

Interest payable and similar expenses

47,204

41,415

PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

460,997

475,119

FIXED ASSETS

Intangible assets

6

450,000

450,000

Tangible assets

7

3,717

8,491

453,717

458,491

CURRENT ASSETS

Debtors

8

530,319

731,292

Cash at bank and in hand

149,565

182,400

679,884

913,692

CREDITORS

Amounts falling due within one year

9

164,150

547,489

NET CURRENT ASSETS

515,734

366,203

TOTAL ASSETS LESS CURRENT LIABILITIES

969,451

824,694

CREDITORS

Amounts falling due after more than one year

10

300,000

300,000

NET ASSETS ATTRIBUTABLE TO MEMBERS

669,451

524,694

LOANS AND OTHER DEBTS DUE TO MEMBERS

11

639,451

494,694

MEMBERS' OTHER INTERESTS

Capital accounts

30,000

30,000

669,451

524,694

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

11

639,451

494,694

Members' other interests

30,000

30,000

669,451

524,694

The Llp is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2022.

The members acknowledge their responsibilities for:

(a)	ensuring that the Llp keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the Llp as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the Llp.

The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 23 September 2022 and were signed by:

Mr A N Pearse - Designated member

EQUITY

Members' other interests

Members'

capital

(classified

as

Other

equity)

reserves

Total

£

£

£

Balance at 1 April 2021

30,000

-

30,000

Profit for the financial year available for discretionary division among members

-

460,997

460,997

Members' interests after profit for the year

30,000

460,997

490,997

Other divisions of profit

-

(460,997

)

(460,997

)

Reclassifications and int

-

-

-

Drawings

-

-

-

Balance at 31 March 2022

30,000

-

30,000

DEBT

TOTAL

Loans and other debts due to

MEMBERS'

members less any amounts due

INTERESTS

from members in debtors

Other

amounts

Total

£

£

Amount due to members

494,694

Amount due from members

-

Balance at 1 April 2021

494,694

524,694

Profit for the financial year available for discretionary division among members

-

460,997

Members' interests after profit for the year

494,694

985,691

Other divisions of profit

460,997

-

Reclassifications and int

28,454

28,454

Drawings

(344,694

)

(344,694

)

Amount due to members

639,451

Amount due from members

-

Balance at 31 March 2022

639,451

669,451

EQUITY

Members' other interests

Members'

capital

(classified

as

Other

equity)

reserves

Total

£

£

£

Balance at 1 April 2020

30,000

-

30,000

Profit for the financial year available for discretionary division among members

-

475,119

475,119

Members' interests after profit for the year

30,000

475,119

505,119

Other divisions of profit

-

(475,119

)

(475,119

)

Reclassifications and int

-

-

-

Drawings

-

-

-

Balance at 31 March 2021

30,000

-

30,000

DEBT

TOTAL

Loans and other debts due to

MEMBERS'

members less any amounts due

INTERESTS

from members in debtors

Other

amounts

Total

£

£

Amount due to members

341,910

Amount due from members

-

Balance at 1 April 2020

341,910

371,910

Profit for the financial year available for discretionary division among members

-

475,119

Members' interests after profit for the year

341,910

847,029

Other divisions of profit

475,119

-

Reclassifications and int

52,665

52,665

Drawings

(375,000

)

(375,000

)

Amount due to members

494,694

Amount due from members

-

Balance at 31 March 2021

494,694

524,694

1.	STATUTORY INFORMATION

H & C Consulting Actuaries LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation and functional currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis under the historical cost convention. Whilst the Covid-19 pandemic has adversely impacted on global and UK societies and economies, and this impact has continued into the 2022/2023 financial year, the nature of the LLP's business means that it is largely protected from significant adverse economic impact and in the members' opinion there is no significant uncertainty as to the going concern basis.

Turnover

Turnover represents amounts chargeable to clients for professional services provided during the year including expenses and disbursements on client assignments but excluding value added tax.

Goodwill

Goodwill is reviewed at the end of each financial year and subsequently revalued when necessary to reflect the current carrying value.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

Between 20% & 25% on cost straight line

Fixtures and fittings

-

15% on reducing balance

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEE INFORMATION

The average number of employees during the year was 22 (2021 - 21 ) .

5.	OPERATING PROFIT

The operating profit is stated after charging:

2022

2021

£

£

Depreciation - owned assets

4,774

5,191

6.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2021

and 31 March 2022

450,000

NET BOOK VALUE

At 31 March 2022

450,000

At 31 March 2021

450,000

7.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 April 2021

and 31 March 2022

35,103

9,559

44,662

DEPRECIATION

At 1 April 2021

29,367

6,804

36,171

Charge for year

4,362

412

4,774

At 31 March 2022

33,729

7,216

40,945

NET BOOK VALUE

At 31 March 2022

1,374

2,343

3,717

At 31 March 2021

5,736

2,755

8,491

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

445,355

653,801

Prepayments and accrued income

84,964

77,491

530,319

731,292

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

VAT

115,861

208,797

Accruals and deferred income

48,289

338,692

164,150

547,489

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Other loans

300,000

300,000

11.

LOANS AND OTHER DEBTS DUE TO MEMBERS

The loans and other debts due to members' (other than members' capital classified as debt) rank equal in relation to other creditors.