Limited Liability Partnership registration number OC433685 (England and Wales)
SHAW LEGAL CONSULTANTS LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
SHAW LEGAL CONSULTANTS LLP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
SHAW LEGAL CONSULTANTS LLP
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
10,929
14,572
Current assets
Cash at bank and in hand
132
295
Net current assets
132
295
Total assets less current liabilities and net assets attributable to members
11,061
14,867
Represented by:
Loans and other debts due to members within one year
Members' interests
11,061
14,867
The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.
For the financial year ended 31 March 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small limited liability partnerships.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.
The financial statements were approved by the members and authorised for issue on 3 June 2024 and are signed on their behalf by:
03 June 2024
Mr A D Shaw
Designated member
Limited Liability Partnership registration number OC433685 (England and Wales)
SHAW LEGAL CONSULTANTS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Limited liability partnership information
Shaw Legal Consultants LLP is a limited liability partnership incorporated in England and Wales. The registered office is 9 Victoria Mews, Walsall, United Kingdom, United Kingdom, WS4 2DZ.
The limited liability partnership's principal activities are disclosed in the Members' Report.
1.1
Accounting convention
These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services provided.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Motor vehicles
25% on reducing balance
2
Employees
The average number of persons (excluding members) employed by the partnership during the year was:
2024
2023
Number
Number
Total
2
2
SHAW LEGAL CONSULTANTS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 and 31 March 2024
34,540
Depreciation and impairment
At 1 April 2023
19,968
Depreciation charged in the year
3,643
At 31 March 2024
23,611
Carrying amount
At 31 March 2024
10,929
At 31 March 2023
14,572
4
Loans and other debts due to members
In the event of a winding up the amounts included in "Loans and other debts due to members" (other than members' capital classified as debt) would rank pari pasu with other unsecured creditors.
There are no such restrictions or limitations existing on the ability of the members to reduce the amount of members other interests.