Registration number:
Glaisyers Solicitors LLP
for the Year Ended 31 December 2023
Glaisyers Solicitors LLP
Contents
Financial Statements |
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Balance Sheet |
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Notes to the Financial Statements |
Glaisyers Solicitors LLP
(Registration number: OC334493)
Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash and short-term deposits |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets attributable to members |
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Represented by: |
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Loans and other debts due to members |
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Members' capital classified as a liability |
961,990 |
1,240,997 |
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Members’ other interests |
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Members' capital classified as equity |
701,502 |
701,502 |
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1,663,492 |
1,942,499 |
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Total members' interests |
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Loans and other debts due to members |
961,990 |
1,240,997 |
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Equity |
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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
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Glaisyers Solicitors LLP
Notes to the Financial Statements for the Year Ended 31 December 2023
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
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)
Particulars of employees |
The average number of persons employed by the limited liability partnership during the year was
Glaisyers Solicitors LLP
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
Tangible fixed assets |
Short leasehold land and buildings |
Plant and machinery |
Fixtures and fittings |
Total |
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Cost |
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At 1 January 2023 |
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Additions |
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- |
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Disposals |
( |
- |
- |
( |
At 31 December 2023 |
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Depreciation |
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At 1 January 2023 |
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Charge for the year |
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Eliminated on disposals |
( |
- |
- |
( |
At 31 December 2023 |
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Net book value |
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At 31 December 2023 |
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At 31 December 2022 |
- |
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Investments held as fixed assets |
2023 |
2022 |
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Investments in subsidaries and associates |
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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 |
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Cost |
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At 1 January 2023 |
265,075 |
265,075 |
At 31 December 2023 |
265,075 |
265,075 |
Net book value |
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At 31 December 2023 |
265,075 |
265,075 |
At 31 December 2022 |
265,075 |
265,075 |
Debtors |
2023 |
2022 |
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Trade debtors |
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Other debtors |
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Prepayments and accrued income |
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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)
Creditors: Amounts falling due within one year |
2023 |
2022 |
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Bank loans and overdrafts |
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Trade creditors |
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Other creditors |
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Accruals and deferred income |
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Taxation and social security |
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Creditors: Amounts falling due after more than one year |
2023 |
2022 |
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Other creditors |
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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).
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
The address of the parent of the largest group is:
The ultimate parent is