Registered number
OC340989
WHITEROSE BLACKMANS SOLICITORS LLP
Reports & Unaudited Accounts
31 October 2023
WHITEROSE BLACKMANS SOLICITORS LLP
Registered number: OC340989
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 6,176 6,176
Tangible assets 4 19,413 21,344
25,589 27,520
Current assets
Stocks & works in progress 118,413 159,868
Debtors 5 125,571 109,162
Cash at bank and in hand 85,398 53,249
329,382 322,279
Creditors: amounts falling due within one year 6 (164,442) (173,170)
Net current assets 164,940 149,109
Total assets less current liabilities 190,529 176,629
Creditors: amounts falling due after more than one year 7 (69,123) (67,259)
Net assets attributable to members 121,406 109,370
Represented by:
Loans and other debts due to members 8 85,340 98,476
Members' other interests
Other reserves 36,066 10,894
121,406 109,370
Total members' interests
Loans and other debts due to members 8 85,340 98,476
Members' other interests 36,066 10,894
121,406 109,370
For the year ended 31 October 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 20 June 2024 and signed on their behalf by:
Kamran Hussain
Designated member
WHITEROSE BLACKMANS SOLICITORS LLP
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Motor vehicles 18% reducing balance
Plant and machinery 18% reducing balance
Fixtures, fittings, tools and equipment 18% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the LLP's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the LLP 10 10
3 Intangible fixed assets £
Goodwill:
Cost
At 1 November 2022 6,176
At 31 October 2023 6,176
Amortisation
At 31 October 2023 -
Net book value
At 31 October 2023 6,176
At 31 October 2022 6,176
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022 57,423
Additions 2,331
At 31 October 2023 59,754
Depreciation
At 1 November 2022 36,079
Charge for the year 4,262
At 31 October 2023 40,341
Net book value
At 31 October 2023 19,413
At 31 October 2022 21,344
5 Debtors 2023 2022
£ £
Trade debtors 125,571 109,162
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 17,953 29,635
Trade creditors 84,565 52,547
Other taxes and social security costs 44,642 65,796
Other creditors 17,282 25,192
164,442 173,170
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 69,123 67,259
8 Loans and other debts due to members 2023 2022
£ £
Amounts due to members in respect of profits 85,340 98,476
Amounts falling due within one year 85,340 98,476
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
9 Controlling party
The ultimate control lies with Kamran Hussain
10 Other information
WHITEROSE BLACKMANS SOLICITORS LLP is a limited liability partnership incorporated in England. Its registered office is:
Diamond House
116 Brudenell Road
Leeds
West Yorkshire
LS6 1LS
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