Watson Brady LLP - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: OC339205 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

WATSON BRADY LLP

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

7,872

8,102

Investments

5

1

1

7,873

8,103

CURRENT ASSETS

Debtors

6

54,631

40,996

Cash at bank

3,892

19,759

58,523

60,755

CREDITORS

Amounts falling due within one year

7

(28,562

)

(28,645

)

NET CURRENT ASSETS

29,961

32,110

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

37,834

40,213

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

37,834

40,213

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

37,834

40,213

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 and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 19 December 2022 and were signed by:

M Brady - Designated member

1.	STATUTORY INFORMATION

Watson Brady LLP is registered in England and Wales. The LLP's registered number and registered office address are as below:

Registered number:

OC339205

Registered office:

5 Chancery Lane

London

WC2A 1LG

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Short leasehold

-

in accordance with the property

Fixtures and fittings

-

20% on cost

Computer equipment

-

33.3% on cost

Going concern

The LLP depends on its existing bank facilities to meet its day to day working capital requirements. Current forecasts indicate that the company expects to be able to operate within these facilities for the foreseeable future. These facilities are renewed annually and are not guaranteed for the period covered by the going concern review. The Members are not aware, however, of any circumstances that may adversely affect the renewal of these facilities. Accordingly, the members believe it is appropriate to prepare the financial statements on the going concern basis.

Investment

Investments held as fixed assets are shown at cost less provision for impairment.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2021

1,236

11,544

15,748

28,528

Additions

-

528

2,161

2,689

At 31 March 2022

1,236

12,072

17,909

31,217

DEPRECIATION

At 1 April 2021

1,236

8,489

10,701

20,426

Charge for year

-

1,062

1,857

2,919

At 31 March 2022

1,236

9,551

12,558

23,345

NET BOOK VALUE

At 31 March 2022

-

2,521

5,351

7,872

At 31 March 2021

-

3,055

5,047

8,102

5.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 April 2021

and 31 March 2022

1

NET BOOK VALUE

At 31 March 2022

1

At 31 March 2021

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

45,775

11,341

Amounts recoverable on contract

3,350

24,700

Other debtors

5,506

4,955

54,631

40,996

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

11,497

-

Trade creditors

557

26

Taxation and social security

11,173

6,089

Other creditors

5,335

22,530

28,562

28,645

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debtors due to members rank equally with debts due to ordinary creditors in the event of a winding up.