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REGISTERED NUMBER: OC424790 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Wordsmith Law LLP

Wordsmith Law LLP (Registered number: OC424790)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Wordsmith Law LLP

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: Peter W Martin Limited
David Newton Limited
Richard Chapman Limited





REGISTERED OFFICE: Unit 410 The Frames
1 Phipp Street
London
United Kingdom
EC2A 4PS





REGISTERED NUMBER: OC424790 (England and Wales)





ACCOUNTANTS: Underwood Green
Pinnacle House
1 Pinnacle Way
Derby
Derbyshire
DE24 8ZS

Wordsmith Law LLP (Registered number: OC424790)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 8,283 9,802
Debtors 5 293,086 164,531
Cash at bank 91,572 126,462
392,941 300,795
CREDITORS
Amounts falling due within one year 6 84,301 89,967
NET CURRENT ASSETS 308,640 210,828
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

308,640

210,828

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

308,640

210,828

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 308,640 210,828

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 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 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 September 2023 and were signed by:




Richard Chapman Limited - Designated member

Wordsmith Law LLP (Registered number: OC424790)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Wordsmith 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.

Revenue recognition and work in progress
In accordance with FRS 102, revenue represents amounts chargeable to clients for professional services provided during the year, net of any sales tax. Services to clients, which at the balance sheet date have not been billed, have been recognised as revenue. Revenue is recognised by reference to the fair value of the services provided at the balance sheet date as a proportion of the total value of the engagement. Provision is made against unbilled amounts on those engagements where the right to receive payment is contingent on factors outside the control of the LLP.

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

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.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2022
and 31 March 2023 2,377
DEPRECIATION
At 1 April 2022
and 31 March 2023 2,377
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

Wordsmith Law LLP (Registered number: OC424790)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 241,123 112,592
Other debtors 51,963 51,939
293,086 164,531

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 44,498
Taxation and social security 80,156 42,469
Other creditors 4,145 3,000
84,301 89,967

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu with unsecured creditors and may be set-off against amounts due from members included in debtors. Members' other interests rank pari passu with unsecured creditors.