Hawkins Brown Architects LLP Filleted accounts for Companies House (small and micro)

HAWKINS BROWN ARCHITECTS LLP - Company Information

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REGISTERED NUMBER: OC337427

Hawkins Brown Architects LLP

Filleted Unaudited Financial Statements

31 March 2023

Hawkins Brown Architects LLP

Statement of Financial Position

31 March 2023

	2023		2022
Note	£	£	£

Current assets

Debtors	4	2,025,915	2,721,771
Cash at bank and in hand		798,245	383,056
		------------	------------
		2,824,160	3,104,827

Creditors: amounts falling due within one year
Amounts owed to group undertakings and undertakings in which the LLP has a participating interest	2,703,585		2,984,252
	------------		------------
Net current assets		120,575	120,575
		---------	---------
Total assets less current liabilities		120,575	120,575
		---------	---------

Represented by:

Loans and other debts due to members

Members' capital classified as a liability	5	120,575	120,575
Other amounts	5	–	–
		---------	---------
		120,575	120,575
		---------	---------

Members' other interests

Other reserves	–	–
	---------	---------
	120,575	120,575
	---------	---------

Total members' interests

Loans and other debts due to members	5	120,575	120,575
Members' other interests		–	–
		---------	---------
		120,575	120,575
		---------	---------

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 statement of comprehensive income 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 .

Hawkins Brown Architects LLP

Statement of Financial Position (continued)

31 March 2023

These financial statements were approved by the members and authorised for issue on 13 December 2023 , and are signed on their behalf by:

HB Holdings 2020 Limited

Designated Member

Registered number: OC337427

Hawkins Brown Architects LLP

Notes to the Financial Statements

Year ended 31 March 2023

1.	General information

Hawkins Brown Architects LLP is a limited liability partnership, registered in England and Wales, registered number OC337427 . The registered address is Eastcastle House, 27/28 Eastcastle Street, London, United Kingdom, W1W 8DH. The principal activity of the company was the provision of architectural services.

2.	Statement of compliance

These financial statements have been prepared in compliance with Section 1A 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' issued in December 2018 (SORP 2018).

3.	Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. 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. The items in the financial statements where these judgements and estimates have been made include: a) Work in progress Determining the value of Work completed but unbilled at the year end. In assessing the correct amount to be recognised, the members make the best estimates available. These include reports provided by department heads and time keeping software. It is continually revised and updated for reasonableness. b) Fixed assets Tangible and intangible fixed assets are depreciated or amortised over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values. c) Debtors Members make decisions on a case by case basis in assessing individual debtor recoverability and provide for outstanding debtors accordingly.

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 statement of comprehensive income 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 statement of comprehensive income 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 statement of comprehensive income 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'.

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	-	10% straight line
Fixtures & Fittings	-	20% straight line
Equipment	-	25% straight line

Financial instruments

A financial asset or a financial liability is recognised only when the entity 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. 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. 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.

4.	Debtors

	2023	2022
	£	£
Amounts owed by group undertakings and undertakings in which the LLP has a participating interest	2,025,915	2,721,771
	------------	------------

5.	Loans and other debts due to members

	2023	2022
	£	£
Other amounts	120,575	120,575
	---------	---------

6.	Related party transactions

Included in Debtors at the year end are amounts due from other group members of £2,721,771 made up of the following:

		2023
		£
	Hawkins Brown Ireland Limited	3,151
	Hawkins Brown Architecture Limited	2,353,179
	Hawkins Brown USA Inc	365,442
		------------
		2,721,772
		------------

Included in Creditors at the year end are amounts owed to other group members of £2,984,252 made up of the following:

		2023
		£
	Hawkins Brown Design Limited	2,797,568
	Hawkins Brown International Limited	186,684
		------------
		2,984,252
		------------

All loans are interest free and repayable on demand.

7.	Controlling party

The parent undertaking, HB Holdings 2020 Limited is a company registered in England and Wales. HB Holdings 2020 Limited is a wholly owned subsidiary of Hawkins Brown Architecture Limited.