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REGISTERED NUMBER: OC434762 (England and Wales)















Unaudited Financial Statements

for the period

18 December 2020 to 31 March 2022

for

ICON LAW LLP

ICON LAW LLP (REGISTERED NUMBER: OC434762)

Contents of the Financial Statements
for the period 18 December 2020 to 31 March 2022










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ICON LAW LLP

General Information
for the period 18 December 2020 to 31 March 2022







Designated members: Mr S Brown
Mrs S Brown





Registered office: New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: OC434762 (England and Wales)





Accountants: Haines Watts
Chartered Accountants
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

ICON LAW LLP (REGISTERED NUMBER: OC434762)

Balance Sheet
31 March 2022

Notes £ £
Fixed assets
Tangible assets 4 1,470

Current assets
Debtors 5 19,193
Cash at bank 110,073
129,266
Creditors
Amounts falling due within one year 6 1,264
Net current assets 128,002
Total assets less current liabilities
and
Net assets attributable to members 129,472

Loans and other debts due to members 7 129,472

Total members' interests
Loans and other debts due to members 7 129,472

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 period 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 14 September 2022 and were signed by:





Mr S Brown - Designated member

ICON LAW LLP (REGISTERED NUMBER: OC434762)

Notes to the Financial Statements
for the period 18 December 2020 to 31 March 2022


1. Statutory information

Icon Law LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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.
Plant and machinery etc - 33% on cost

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the entity becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the entity will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the entity's cash management.

Financial liabilities and equity instruments issued by the entity are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its liabilities. Equity instruments issued by the entity are recorded at the proceeds received, net of direct issue costs.

Members' participating interests
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. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within 'Members' remuneration charged as an expense' in arriving at the relevant year's result. Undivided amounts that are classified as equity are shown within 'Members' other interests'. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members' interests.

Where there exists an asset and liability component in respect of an individual member's participation rights, they are presented on a gross basis unless the LLP has both a legally enforceable right to set off the recognised amounts, and it intends either to settle on a net basis or to settle and realise these amounts simultaneously, in which case they are presented net.

3. Employee information

The average number of employees during the period was 2 .

ICON LAW LLP (REGISTERED NUMBER: OC434762)

Notes to the Financial Statements - continued
for the period 18 December 2020 to 31 March 2022


4. Tangible fixed assets
Plant and
machinery
etc
£
Cost
Additions 2,783
At 31 March 2022 2,783
Depreciation
Charge for period 1,313
At 31 March 2022 1,313
Net book value
At 31 March 2022 1,470

5. Debtors: amounts falling due within one year
£
Trade debtors 16,200
Other debtors 2,993
19,193

6. Creditors: amounts falling due within one year
£
Trade creditors 799
Other creditors 465
1,264

7. Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors