Stamp James LLP OC425301 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of commercial and residential property solicitors. Digita Accounts Production Advanced 6.30.9574.0 true OC425301 2022-04-01 2023-03-31 OC425301 2023-03-31 OC425301 core:CurrentFinancialInstruments 2023-03-31 OC425301 core:Non-currentFinancialInstruments 2023-03-31 OC425301 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 OC425301 core:WithinOneYear 2023-03-31 OC425301 bus:SmallEntities 2022-04-01 2023-03-31 OC425301 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 OC425301 bus:FilletedAccounts 2022-04-01 2023-03-31 OC425301 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 OC425301 bus:RegisteredOffice 2022-04-01 2023-03-31 OC425301 bus:PartnerLLP1 2022-04-01 2023-03-31 OC425301 bus:PartnerLLP2 2022-04-01 2023-03-31 OC425301 bus:PartnerLLP3 2022-04-01 2023-03-31 OC425301 bus:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC425301 core:OfficeEquipment 2022-04-01 2023-03-31 OC425301 countries:AllCountries 2022-04-01 2023-03-31 OC425301 2021-04-01 2022-03-31 OC425301 2022-03-31 OC425301 core:CurrentFinancialInstruments 2022-03-31 OC425301 core:Non-currentFinancialInstruments 2022-03-31 OC425301 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 OC425301 core:WithinOneYear 2022-03-31 iso4217:GBP xbrli:pure

Registration number: OC425301

Stamp James LLP

Filleted Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Stamp James LLP

Contents

Limited liability partnership information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 7

 

Stamp James LLP

Limited liability partnership information

Designated members

K James

K Stamp

T Courtney
 

Registered office

The Senate
Floor Three
Southernhay Gardens
Exeter
Devon
EX1 1UG

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Stamp James LLP

(Registration number: OC425301)
Balance Sheet as at 31 March 2023

Note

2023
 £

2022
 £

Fixed assets

 

Tangible assets

3

5,584

3,187

Current assets

 

Debtors

73,403

177,458

Cash and short-term deposits

 

185,136

236,662

 

258,539

414,120

Creditors: Amounts falling due within one year

5

(92,948)

(140,249)

Net current assets

 

165,591

273,871

Total assets less current liabilities

 

171,175

277,058

Creditors: Amounts falling due after more than one year

6

-

(35,817)

Net assets attributable to members

 

171,175

241,241

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

935,422

888,307

Members' capital - Capital introduced

 

936

936

Members' capital - Repayment of capital

 

(765,183)

(648,002)

 

171,175

241,241

Total members' interests

 

Loans and other debts due to members

 

171,175

241,241

   

171,175

241,241

For the year ending 31 March 2023 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 Section 1A ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

 

Stamp James LLP

(Registration number: OC425301)
Balance Sheet as at 31 March 2023

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of Stamp James LLP (registered number OC425301) were approved by the Board and authorised for issue on 16 October 2023. They were signed on behalf of the limited liability partnership by:

.........................................
T Courtney
Designated member

 

Stamp James LLP

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

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England & Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of Stamp James LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

 

Stamp James LLP

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

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

other taxes policy

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Office equipment

20% straight line basis

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call 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 of change in value.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

Pensions and other post retirement obligations

The partnership operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 6 (2022 - 6).

 

Stamp James LLP

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

3

Tangible fixed assets

Office equipment
£

Total
£

Cost

At 1 April 2022

5,999

5,999

Additions

4,497

4,497

At 31 March 2023

10,496

10,496

Depreciation

At 1 April 2022

2,813

2,813

Charge for the year

2,099

2,099

At 31 March 2023

4,912

4,912

Net book value

At 31 March 2023

5,584

5,584

At 31 March 2022

3,186

3,186

4

Debtors

2023
£

2022
£

Trade debtors

18,338

21,466

Other debtors

4,974

5,459

Prepayments and accrued income

50,091

150,533

Total current trade and other debtors

73,403

177,458

5

Creditors: Amounts falling due within one year

2023
£

2022
£

Bank loans and overdrafts

35,817

86,667

Other creditors

-

544

Accruals and deferred income

5,712

5,847

Taxation and social security

51,419

47,191

92,948

140,249

 

Stamp James LLP

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

6

Creditors: Amounts falling due after more than one year

2023
£

2022
£

Bank loans and overdrafts

-

35,817

7

Control

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.