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REGISTERED NUMBER: OC345994 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

BUSS MURTON LAW LLP

BUSS MURTON LAW LLP (REGISTERED NUMBER: OC345994)

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










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BUSS MURTON LAW LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DESIGNATED MEMBERS: D S Jaswal
A W B Lee
A J C Linton
A P J Smith





REGISTERED OFFICE: Wallside House
12 Mount Ephraim Road
Tunbridge Wells
Kent
TN1 1EE





REGISTERED NUMBER: OC345994 (England and Wales)





ACCOUNTANTS: Galloways Accounting
Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE

BUSS MURTON LAW LLP (REGISTERED NUMBER: OC345994)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,239 14,000
Tangible assets 5 71,744 92,236
Investments 6 2 2
81,985 106,238

CURRENT ASSETS
Debtors 7 1,303,635 1,403,833
Cash at bank and in hand 157,497 60,783
1,461,132 1,464,616
CREDITORS
Amounts falling due within one year 8 865,991 789,369
NET CURRENT ASSETS 595,141 675,247
TOTAL ASSETS LESS CURRENT
LIABILITIES

677,126

781,485

CREDITORS
Amounts falling due after more than one
year

9

130,867

218,112
NET ASSETS ATTRIBUTABLE TO
MEMBERS

546,259

563,373

LOANS AND OTHER DEBTS DUE TO
MEMBERS

11

96,257

113,371

MEMBERS' OTHER INTERESTS
Capital accounts 450,002 450,002
546,259 563,373

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 11 96,257 113,371
Members' other interests 450,002 450,002
Amounts due from members 7 (10,752 ) -
535,507 563,373

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 May 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.

BUSS MURTON LAW LLP (REGISTERED NUMBER: OC345994)

BALANCE SHEET - continued
31 MAY 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 12 February 2024 and were signed by:





A P J Smith - Designated member

BUSS MURTON LAW LLP (REGISTERED NUMBER: OC345994)

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


1. STATUTORY INFORMATION

Buss Murton 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 and work in progress
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP
and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the LLP will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

For client assignments in progress at the reporting date for which no income has been recoginsed, the accumulated costs are recognised as amounts recoverable on contracts. Cost includes labour cost of personnel directly engaged in providing the service, including supervisory personnel, and attributable overheads.

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the statement of comprehensive income over its useful economic life of 10 years.

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.

Development costs are being amortised evenly over their estimated useful life of three years.

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - over the term of the lease
Fixtures and fittings - Straight line over 5 years
Computer equipment - Straight line over 5 years and Straight line over 3 years

Investments in subsidiaries
Investments in subsidiaries are measured at cost less accumulated impairment.

BUSS MURTON LAW LLP (REGISTERED NUMBER: OC345994)

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


2. ACCOUNTING POLICIES - continued

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 NIL (2022 - NIL).

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 June 2022 60,000 13,764 73,764
Additions - 2,985 2,985
At 31 May 2023 60,000 16,749 76,749
AMORTISATION
At 1 June 2022 46,000 13,764 59,764
Charge for year 6,000 746 6,746
At 31 May 2023 52,000 14,510 66,510
NET BOOK VALUE
At 31 May 2023 8,000 2,239 10,239
At 31 May 2022 14,000 - 14,000

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 June 2022 195,804 192,095 373,144 761,043
Additions - 846 13,835 14,681
Disposals (140,662 ) (134,356 ) (123,978 ) (398,996 )
At 31 May 2023 55,142 58,585 263,001 376,728
DEPRECIATION
At 1 June 2022 154,701 173,717 340,389 668,807
Charge for year 5,651 7,150 22,371 35,172
Eliminated on disposal (140,661 ) (134,356 ) (123,978 ) (398,995 )
At 31 May 2023 19,691 46,511 238,782 304,984
NET BOOK VALUE
At 31 May 2023 35,451 12,074 24,219 71,744
At 31 May 2022 41,103 18,378 32,755 92,236

BUSS MURTON LAW LLP (REGISTERED NUMBER: OC345994)

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


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 June 2022
and 31 May 2023 2
NET BOOK VALUE
At 31 May 2023 2
At 31 May 2022 2

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 354,018 515,534
Amounts recoverable on contract 571,563 612,788
Other debtors 378,054 275,511
1,303,635 1,403,833

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 381,891 293,147
Trade creditors 106,248 119,247
Amounts owed to group undertakings 120,077 99,274
Taxation and social security 169,152 205,275
Other creditors 88,623 72,426
865,991 789,369

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 130,867 218,112

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 216,250 201,000
Between one and five years 840,854 804,000
In more than five years 281,000 482,000
1,338,104 1,487,000

The LLP also acts as a lessor. At the year end, the LLP had contracted with tenants, under non-cancellable operating leases, for the following future minimum lease payments:

Within 1 year - £70,000 (2022: £27,000)
Between 1 and 5 years - £81,000 (2022: £nil)
Total - £151,000 (2022: £27,000)

BUSS MURTON LAW LLP (REGISTERED NUMBER: OC345994)

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


11. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up. There are no restrictions or limitations that exist on the ability of the members to reduce the amount of Members' other interests.