Glaisyers Solicitors LLP OC334493 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is a solicitors practice. Digita Accounts Production Advanced 6.30.9574.0 true true OC334493 2023-01-01 2023-12-31 OC334493 2023-12-31 OC334493 core:CurrentFinancialInstruments 2023-12-31 OC334493 core:Non-currentFinancialInstruments 2023-12-31 OC334493 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 OC334493 core:WithinOneYear 2023-12-31 OC334493 core:FurnitureFittings 2023-12-31 OC334493 core:LandBuildings core:ShortLeaseholdAssets 2023-12-31 OC334493 core:PlantMachinery 2023-12-31 OC334493 bus:SmallEntities 2023-01-01 2023-12-31 OC334493 bus:Audited 2023-01-01 2023-12-31 OC334493 bus:FilletedAccounts 2023-01-01 2023-12-31 OC334493 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 OC334493 bus:PartnerLLP3 2023-01-01 2023-12-31 OC334493 bus:LimitedLiabilityPartnershipLLP 2023-01-01 2023-12-31 OC334493 core:ComputerEquipment 2023-01-01 2023-12-31 OC334493 core:FurnitureFittings 2023-01-01 2023-12-31 OC334493 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 OC334493 core:LandBuildings core:ShortLeaseholdAssets 2023-01-01 2023-12-31 OC334493 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 OC334493 core:PlantMachinery 2023-01-01 2023-12-31 OC334493 countries:AllCountries 2023-01-01 2023-12-31 OC334493 2022-12-31 OC334493 core:FurnitureFittings 2022-12-31 OC334493 core:LandBuildings core:ShortLeaseholdAssets 2022-12-31 OC334493 core:PlantMachinery 2022-12-31 OC334493 2022-01-01 2022-12-31 OC334493 2022-12-31 OC334493 core:CurrentFinancialInstruments 2022-12-31 OC334493 core:Non-currentFinancialInstruments 2022-12-31 OC334493 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 OC334493 core:WithinOneYear 2022-12-31 OC334493 core:FurnitureFittings 2022-12-31 OC334493 core:LandBuildings core:ShortLeaseholdAssets 2022-12-31 OC334493 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure

Registration number: OC334493

Glaisyers Solicitors LLP

Annual Report and Financial Statements

for the Year Ended 31 December 2023

 

Glaisyers Solicitors LLP

Contents

Financial Statements

1 to 8

Balance Sheet

1

Notes to the Financial Statements

3

 

Glaisyers Solicitors LLP

(Registration number: OC334493)
Balance Sheet as at 31 December 2023

Note

2023
 £

2022
 £

Fixed assets

 

Tangible assets

3

190,369

56,425

Investments

4

265,075

265,075

 

455,444

321,500

Current assets

 

Debtors

5

6,827,274

6,073,885

Cash and short-term deposits

 

13,717

12,539

 

6,840,991

6,086,424

Creditors: Amounts falling due within one year

6

(1,923,018)

(1,956,120)

Net current assets

 

4,917,973

4,130,304

Total assets less current liabilities

 

5,373,417

4,451,804

Creditors: Amounts falling due after more than one year

7

(3,709,925)

(2,509,305)

Net assets attributable to members

 

1,663,492

1,942,499

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

961,990

1,240,997

Members’ other interests

 

Members' capital classified as equity

 

701,502

701,502

   

1,663,492

1,942,499

Total members' interests

 

Loans and other debts due to members

 

961,990

1,240,997

Equity

 

701,502

701,502

   

1,663,492

1,942,499

 

Glaisyers Solicitors LLP

(Registration number: OC334493)
Balance Sheet as at 31 December 2023 (continued)

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘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, and the option not to file the Profit and Loss Account has been taken.

The financial statements of Glaisyers Solicitors LLP (registered number OC334493) were approved by the Board and authorised for issue on 26 July 2024. They were signed on behalf of the limited liability partnership by:

.........................................
Mr David Russell Jones
Designated member

 

Glaisyers Solicitors LLP

Notes to the Financial Statements for the Year Ended 31 December 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 and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.

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 Glaisyers Solicitors 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.

Name of parent of group

These financial statements are consolidated in the financial statements of ETL Holdings (UK) Ltd.

The financial statements of ETL Holdings (UK) Ltd may be obtained from 1 Pavilion Square, Westhoughton, Bolton, BL5 3AJ..

Going concern

The members have assessed the performance and position of the LLP at the year end and concluded it has more than enough financial resources to be able to continue in business for at least twelve months from approving the financial statements. The financial statements have therefore been prepared on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 26 July 2024 was Robert Stafford BA (hons) FCA, who signed for and on behalf of SCCA Ltd.

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.

 

Glaisyers Solicitors LLP

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

1

Accounting policies (continued)

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.

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.

Tangible fixed assets

Individual fixed assets are initially recorded at cost.

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

Property improvements

In accordance with the property

Fixtures and fittings

33% on cost and 25% on cost

Computer equipment

33% on cost and 25% on cost

Fixed asset investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

Glaisyers Solicitors LLP

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 69 (2022 - 67).

 

Glaisyers Solicitors LLP

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

3

Tangible fixed assets

Short leasehold land and buildings
£

Plant and machinery
£

Fixtures and fittings
£

Total
£

Cost

At 1 January 2023

414,737

406,350

165,839

986,926

Additions

204,585

13,452

-

218,037

Disposals

(414,737)

-

-

(414,737)

At 31 December 2023

204,585

419,802

165,839

790,226

Depreciation

At 1 January 2023

414,737

354,306

161,458

930,501

Charge for the year

51,146

29,691

3,256

84,093

Eliminated on disposals

(414,737)

-

-

(414,737)

At 31 December 2023

51,146

383,997

164,714

599,857

Net book value

At 31 December 2023

153,439

35,805

1,125

190,369

At 31 December 2022

-

52,044

4,381

56,425

4

Investments held as fixed assets

2023
 £

2022
 £

Investments in subsidaries and associates

265,075

265,075

 

Glaisyers Solicitors LLP

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

4

Investments held as fixed assets (continued)

Investments in subsidaries and associates

Unlisted investments
£

Total
£

Cost

At 1 January 2023

265,075

265,075

At 31 December 2023

265,075

265,075

Net book value

At 31 December 2023

265,075

265,075

At 31 December 2022

265,075

265,075

5

Debtors

2023
 £

2022
 £

Trade debtors

1,030,904

798,170

Other debtors

5,745,237

4,882,376

Prepayments and accrued income

51,133

393,339

Total current trade and other debtors

6,827,274

6,073,885

Included within other debtors is a balance due from group undertakings totalling £3,870,708 (2022 - £3,101,134) which is not due within 12 months of the balance sheet date.

 

Glaisyers Solicitors LLP

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

6

Creditors: Amounts falling due within one year

2023
 £

2022
 £

Bank loans and overdrafts

222,841

126,190

Trade creditors

284,980

166,259

Other creditors

706,653

1,280,418

Accruals and deferred income

258,333

80,150

Taxation and social security

450,211

303,103

1,923,018

1,956,120

7

Creditors: Amounts falling due after more than one year

2023
 £

2022
 £

Other creditors

3,709,925

2,509,305

Creditors amounrs falling due after more tahn one year includes the following liabilities, on which security has been given by the limited liability partnership:

Overdrafts and bank loans are secured by a fixed and floating charge dated 31st July 2017.

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £216,224 (2022 - £133,136).

8

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.

The parent of the largest group in which results are consolidated is ETL Holdings (UK) Ltd.
The address of the parent of the largest group is:
1 Pavilion Square, Westhoughton, BL5 3AJ.

The ultimate parent is ETL Holdings (UK) Ltd.