Butcher and Barlow LLP - Accounts to registrar (filleted) - small 23.2.5

Butcher and Barlow LLP - Accounts to registrar (filleted) - small 23.2.5

BUTCHER AND BARLOW LLP - Company Information

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REGISTERED NUMBER: OC343502 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

FOR

BUTCHER AND BARLOW LLP
DTE Business Advisers Limited
Chartered Accountants
The Exchange
5 Bank Street
Bury
BL9 0DN








BUTCHER AND BARLOW LLP (REGISTERED NUMBER: OC343502)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023










Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BUTCHER AND BARLOW LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DESIGNATED MEMBERS: C J M Barlow
A R Higham
J A Aldersley
C J Hopkins
J S Kelly





REGISTERED OFFICE: 2-8 Bank Street
Bury
BL9 0DL





REGISTERED NUMBER: OC343502 (England and Wales)





ACCOUNTANTS: DTE Business Advisers Limited
Chartered Accountants
The Exchange
5 Bank Street
Bury
BL9 0DN
1
BUTCHER AND BARLOW LLP (REGISTERED NUMBER: OC343502)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2023

2023 2022
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 93,979 69,757

CURRENT ASSETS
Work in progress 61,655 54,554
Debtors 5 3,329,219 3,372,527
Cash at bank 1,840,837 1,102,237
5,231,711 4,529,318
CREDITORS
Amounts falling due within one year 6 (1,205,799 ) (949,955 )
NET CURRENT ASSETS 4,025,912 3,579,363
TOTAL ASSETS LESS CURRENT
LIABILITIES
4,119,891
3,649,120

PROVISION FOR LIABILITIES (65,000 ) (65,000 )
NET ASSETS ATTRIBUTABLE TO
MEMBERS
4,054,891
3,584,120

LOANS AND OTHER DEBTS DUE TO
MEMBERS
8
4,054,891
3,584,120

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 4,054,891 3,584,120

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 30 April 2023.

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 notes form part of these financial statements

2 continued...
BUTCHER AND BARLOW LLP (REGISTERED NUMBER: OC343502)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 2023


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 21 December 2023 and were signed by:





A R Higham - Designated member

The notes form part of these financial statements

3
BUTCHER AND BARLOW LLP (REGISTERED NUMBER: OC343502)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023


1. STATUTORY INFORMATION

Butcher and Barlow LLP is a limited liability partnership registered in England and Wales. The LLP's registered number is OC343502 and its registered office address is 2-8 Bank Street, Bury, BL9 0DL.

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.

The members recognise that the future cannot be predicted with certainty. The members expect the company to continue trading and generating profit. Profit before members' remuneration and profit shares for the year was £4.4m (2022: £3.8m).

Therefore, the members have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result, the members continue to adopt the going concern basis in preparing the financial statements.

Significant judgements and estimates
In the application of the LLP's accounting policies, the members are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below:

Making judgement based on the level of work carried out and historical experience is required to estimate the value of amounts to be included as amounts recoverable on contracts and work in progress.

Making judgement based on the historical experience of the level of provision required for bad debts. Further information received after the statement of financial position date may impact on the level of provision required.

Revenue
Revenue comprises the aggregate of the fair value of the professional services provided, net of value-added tax, rebates and discounts.

Service revenues are recognised when a right to consideration has been obtained through performance under each contract.

The amount by which revenue exceeds payments on account is classified as "amounts recoverable on contracts" and is included in debtors.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 10% on cost

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

4 continued...
BUTCHER AND BARLOW LLP (REGISTERED NUMBER: OC343502)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


2. ACCOUNTING POLICIES - continued

Work in progress
Work in progress is stated at estimated recoverable cost of work done, excluding members' time.

Financial instruments
The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost.

Leasing commitments
Rentals paid under operating leases are charged to the income statement 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 the income statement in the period to which they relate.

Provisions for liabilities
Provisions are recognised when the LLP has a present obligation (legal or constructive) as a result of a past event, it is probable that the LLP will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in the income statement in the period it arises.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 170 (2022 - 118 ) .

5 continued...
BUTCHER AND BARLOW LLP (REGISTERED NUMBER: OC343502)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 May 2022 541,452
Additions 58,283
At 30 April 2023 599,735
DEPRECIATION
At 1 May 2022 471,695
Charge for year 34,061
At 30 April 2023 505,756
NET BOOK VALUE
At 30 April 2023 93,979
At 30 April 2022 69,757

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,265,242 1,231,611
Amounts recoverable on contracts 1,535,331 1,679,054
Other debtors 528,646 461,862
3,329,219 3,372,527

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 182,312 161,795
Taxation and social security 625,299 528,781
Other creditors 398,188 259,379
1,205,799 949,955

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 360,920 332,243
Between one and five years 556,893 524,218
In more than five years 52,663 4,708
970,476 861,169

6 continued...
BUTCHER AND BARLOW LLP (REGISTERED NUMBER: OC343502)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally alongside other unsecured creditors.

7