REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
COLLINS BENSON GOLDHILL LLP |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
COLLINS BENSON GOLDHILL LLP |
COLLINS BENSON GOLDHILL LLP (REGISTERED NUMBER: OC320452) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
COLLINS BENSON GOLDHILL LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
34-40 High Street |
Wanstead |
London |
E11 2RJ |
COLLINS BENSON GOLDHILL LLP (REGISTERED NUMBER: OC320452) |
BALANCE SHEET |
31 OCTOBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand | 6 |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
588,496 |
687,850 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
11 |
363,496 |
462,850 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 225,000 | 225,000 |
588,496 | 687,850 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 11 | 363,496 | 462,850 |
Members' other interests | 225,000 | 225,000 |
588,496 | 687,850 |
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. |
COLLINS BENSON GOLDHILL LLP (REGISTERED NUMBER: OC320452) |
BALANCE SHEET - continued |
31 OCTOBER 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 Income Statement has not been delivered. |
The financial statements were approved by the members of the LLP and authorised for issue on |
COLLINS BENSON GOLDHILL LLP (REGISTERED NUMBER: OC320452) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
1. | STATUTORY INFORMATION |
Collins Benson Goldhill LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
The LLP's functional and presentation currency is the pound sterling. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue recognition |
Revenue is measured at the fair value of the consideration received or receivable and represents net invoiced sales of legal services, excluding value added tax. |
Revenue is recognised in the accounting period in which the services were rendered. |
Work in progress, valued at recoverable amount, is included in turnover and is classified as accrued income within trade debtors in the balance sheet. |
Tangible fixed assets |
Office equipment | - |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Office |
equipment |
£ |
COST |
At 1 November 2022 |
Additions |
Disposals | ( |
) |
At 31 October 2023 |
DEPRECIATION |
At 1 November 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
COLLINS BENSON GOLDHILL LLP (REGISTERED NUMBER: OC320452) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
6. | CASH AT BANK AND IN HAND |
2023 | 2022 |
£ | £ |
Office deposit accounts | 43 | 197,246 |
Office account | 17,439 | 21,447 |
General client bank accounts | 2,540,012 | 2,402,361 |
Cash in hand |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank and other loans |
Trade creditors |
Social security and other taxes |
VAT | 121,699 | 98,477 |
Other creditors |
Amounts due to clients | 2,540,012 | 2,402,361 |
Accrued expenses |
Amounts due to clients relate to monies held in the general client bank accounts. |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank and other loans - 1-2 |
years |
Bank and other loans - 2-5 |
years |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
The above leases relate to LLP's business premises and equipment rentals. |
COLLINS BENSON GOLDHILL LLP (REGISTERED NUMBER: OC320452) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank and other loans |
The loans are secured by the LLP members' personal guarantees. |
The partnership has an agreed overdraft facility with HSBC Bank Plc of £150,000. The overdraft is secured by a floating charge over the partnership assets. At the year end the partnership bank accounts were in funds. |
11. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members rank equally with other creditors in a winding up. |