REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2023 |
for |
BDM Law LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2023 |
for |
BDM Law LLP |
BDM Law LLP (Registered number: OC399298) |
Contents of the Financial Statements |
for the Year Ended 30 April 2023 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BDM Law LLP |
General Information |
for the Year Ended 30 April 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1 Pinnacle Way |
Pride Park |
Derby |
Derbyshire |
DE24 8ZS |
BDM Law LLP (Registered number: OC399298) |
Balance Sheet |
30 April 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Work in progress |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
1,377,875 |
1,267,204 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
8 |
1,252,875 |
1,142,204 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 125,000 | 125,000 |
1,377,875 | 1,267,204 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 8 | 1,252,875 | 1,142,204 |
Members' other interests | 125,000 | 125,000 |
1,377,875 | 1,267,204 |
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. |
BDM Law LLP (Registered number: OC399298) |
Balance Sheet - continued |
30 April 2023 |
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 Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the members of the LLP and authorised for issue on |
BDM Law LLP (Registered number: OC399298) |
Notes to the Financial Statements |
for the Year Ended 30 April 2023 |
1. | STATUTORY INFORMATION |
BDM 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 |
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 |
Improvements to property | - |
Fixtures and fittings | - |
Computer equipment | - |
Work in progress |
Uninvoiced sales are valued in accordance with FRS5 and the guidance issued in UITF 40. Hence all |
unbilled/incomplete time has been valued at fair value and reflects the time spend and the skills and expertise that have been provided. |
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 profit or loss in the period to which they relate. |
Taxation |
Taxation on all of the LLP's profits are solely the personal liabilities of individual members. Consequently, |
neither taxation nor related deferred taxation arising in the LLP are accounted for in these financial statements. Amounts retained for tax are treated in the same way as other profits of the LLP and so are included in members' other interest or in loans and other debts due to member's depending on whether or not division of profits has occurred. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
BDM Law LLP (Registered number: OC399298) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2023 |
4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 May 2022 |
Additions |
At 30 April 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for year |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
VAT |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Social security and other taxes |
VAT | - | 5,762 |
Other creditors |
Accruals and deferred income |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Other creditors |
BDM Law LLP (Registered number: OC399298) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2023 |
8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2023 | 2022 |
£ | £ |
Amounts owed to members in respect of profits | 1,252,875 | 1,142,204 |
Falling due within one year | 1,252,875 | 1,142,204 |
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 interest rank pari passu with unsecured creditors. |
9. | RELATED PARTY DISCLOSURES |
The balance outstanding on interest free loans provided from companies with common directors / members and under common control, amounted to £183,364 Cr. (2022: £12,622 Cr.). |