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REGISTERED NUMBER: SO301217 (Scotland)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

LAURIE & CO SOLICITORS LLP

LAURIE & CO SOLICITORS LLP (REGISTERED NUMBER: SO301217)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

LAURIE & CO SOLICITORS LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DESIGNATED MEMBERS: Miss L K Fyffe
Miss C A Stephen
Mrs S Mann





REGISTERED OFFICE: 17 Victoria Street
ABERDEEN
Aberdeenshire
AB10 1PU





REGISTERED NUMBER: SO301217 (Scotland)





ACCOUNTANTS: Bain Henry Reid
Chartered Accountants
4 West Craibstone Street
Bon-Accord Square
ABERDEEN
AB11 6YL

LAURIE & CO SOLICITORS LLP (REGISTERED NUMBER: SO301217)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 27,000 24,000
Tangible assets 6 73,760 82,460
100,760 106,460

CURRENT ASSETS
Debtors 7 524,981 446,213
Cash at bank and in hand 63,401 113,163
588,382 559,376
CREDITORS
Amounts falling due within one year 8 301,931 421,492
NET CURRENT ASSETS 286,451 137,884
TOTAL ASSETS LESS CURRENT
LIABILITIES

387,211

244,344

CREDITORS
Amounts falling due after more than one year 9 316,733 190,436
NET ASSETS ATTRIBUTABLE TO
MEMBERS

70,478

53,908

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

70,478

53,908

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 70,478 53,908

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.

LAURIE & CO SOLICITORS LLP (REGISTERED NUMBER: SO301217)

BALANCE SHEET - continued
31 MARCH 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 6 November 2023 and were signed by:





Miss L K Fyffe - Designated member

LAURIE & CO SOLICITORS LLP (REGISTERED NUMBER: SO301217)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Laurie & Co Solicitors LLP is registered in Scotland. The LLP's registered number and registered office address can be found on the General Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents the fair value of the amount receivable by the LLP for services provided, excluding value added tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible assets are measured at cost less accumulated depreciation and any accumulated impairment loss. Depreciation is provided at the following annual rates in order to write down the cost less estimated residual value of all tangible fixed assets over their estimated useful life.
Improvements to property-10% on reducing balance
Office furniture-10% on reducing balance
Motor vehicles-25% on reducing balance
Computer equipment-20% on reducing balance

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.

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.

Fee income and revenue recognition
Legal services provided to clients during the year which, at the balance sheet date, have not been invoiced to clients, have been recognised as fee income in accordance with UITF40. Fee income recognised in this manner is based on an assessment of fair value of the services provided by 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 payments is contingent on factors outside the control of the firm. Income that has been recognised but not billed is included in debtors as amounts recoverable under contracts.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at undiscounted amount of cash or other consideration expected to be paid.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and demand deposits and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk to changes in value

4. EMPLOYEE INFORMATION

The average number of employees during the year was 17 (2022 - 15 ) .

LAURIE & CO SOLICITORS LLP (REGISTERED NUMBER: SO301217)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022 24,000
Additions 3,000
At 31 March 2023 27,000
NET BOOK VALUE
At 31 March 2023 27,000
At 31 March 2022 24,000

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST OR VALUATION
At 1 April 2022 216,474
Additions 7,751
At 31 March 2023 224,225
DEPRECIATION
At 1 April 2022 134,014
Charge for year 16,451
At 31 March 2023 150,465
NET BOOK VALUE
At 31 March 2023 73,760
At 31 March 2022 82,460

Cost or valuation at 31 March 2023 is represented by:

Plant and
machinery
etc
£   
Valuation in 2022 38,345
Cost 185,880
224,225

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 188,041 193,619
Amounts recoverable from clients in respect of
unbilled work performed

200,000

150,000
Other debtors 62,517 51,750
450,558 395,369

LAURIE & CO SOLICITORS LLP (REGISTERED NUMBER: SO301217)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Other debtors 74,423 50,844

Aggregate amounts 524,981 446,213

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 18,081
Taxation and social security 71,868 69,665
Other creditors 230,063 333,746
301,931 421,492

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 316,733 190,436

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members' (other then members' capital classified as debt) would rank equally with debts due to other unsecured creditors in the event of a winding up.

11. OTHER FINANCIAL COMMITMENTS

The LLP had total commitments at the balance sheet date of £78,525 (2022 £128,045).

LAURIE & CO SOLICITORS LLP

REPORT OF THE ACCOUNTANTS TO THE MEMBERS OF
LAURIE & CO SOLICITORS LLP


The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2023 set out on pages three to nine and you consider that the LLP is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Bain Henry Reid
Chartered Accountants
4 West Craibstone Street
Bon-Accord Square
ABERDEEN
AB11 6YL


6 November 2023