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REGISTERED NUMBER: OC320452 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 NOVEMBER 2023 TO 31 MARCH 2024

FOR

COLLINS BENSON GOLDHILL LLP

COLLINS BENSON GOLDHILL LLP (REGISTERED NUMBER: OC320452)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 MARCH 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COLLINS BENSON GOLDHILL LLP

GENERAL INFORMATION
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 MARCH 2024







DESIGNATED MEMBERS: W H Hsu
L M Brassey





REGISTERED OFFICE: 26-28 Great Portland Street
London
W1W 8QT





REGISTERED NUMBER: OC320452 (England and Wales)





ACCOUNTANTS: THP Limited
Chartered Accountants
34-40 High Street
Wanstead
London
E11 2RJ

COLLINS BENSON GOLDHILL LLP (REGISTERED NUMBER: OC320452)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,721 17,512

CURRENT ASSETS
Debtors 5 1,115,745 1,216,515
Cash at bank and in hand 6 3,496,081 2,558,148
4,611,826 3,774,663
CREDITORS
Amounts falling due within one year 7 4,131,817 3,184,929
NET CURRENT ASSETS 480,009 589,734
TOTAL ASSETS LESS CURRENT
LIABILITIES

501,730

607,246

CREDITORS
Amounts falling due after more than one
year

8

77,604

18,750
NET ASSETS ATTRIBUTABLE TO
MEMBERS

424,126

588,496

LOANS AND OTHER DEBTS DUE TO
MEMBERS

11

199,126

363,496

MEMBERS' OTHER INTERESTS
Capital accounts 225,000 225,000
424,126 588,496

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 11 199,126 363,496
Members' other interests 225,000 225,000
424,126 588,496

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the period ended 31 March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

COLLINS BENSON GOLDHILL LLP (REGISTERED NUMBER: OC320452)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 6 August 2024 and were signed by:





W H Hsu - Designated member

COLLINS BENSON GOLDHILL LLP (REGISTERED NUMBER: OC320452)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 MARCH 2024


1. STATUTORY INFORMATION

Collins Benson Goldhill LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The LLP's functional and presentation currency is the pound sterling.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents net invoiced sales of legal services, excluding value added tax.

Revenue is recognised in the accounting period in which the services were rendered.

Work in progress, valued at recoverable amount, is included in turnover and is classified as accrued income within trade debtors in the balance sheet.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 25% on cost

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Operating lease commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEE INFORMATION

The average number of employees during the period was 23 (2023 - 21 ) .

4. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 November 2023 85,249
Additions 8,558
At 31 March 2024 93,807
DEPRECIATION
At 1 November 2023 67,737
Charge for period 4,349
At 31 March 2024 72,086
NET BOOK VALUE
At 31 March 2024 21,721
At 31 October 2023 17,512

COLLINS BENSON GOLDHILL LLP (REGISTERED NUMBER: OC320452)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 MARCH 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 913,420 894,552
Other debtors 3,168 5,808
Prepayments 199,157 316,155
1,115,745 1,216,515

6. CASH AT BANK AND IN HAND
2024 2023
£    £   
Office deposit accounts 51 43
Office account - 17,439
General client bank accounts 3,495,662 2,540,012
Cash in hand 368 654
3,496,081 2,558,148

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Loans and overdrafts 414,147 364,208
Trade creditors 16,634 8,161
Social security and other taxes 44,921 35,392
VAT 82,402 121,699
Other creditors 28,341 28,341
Amounts due to clients 3,495,662 2,540,012
Accrued expenses 49,710 87,116
4,131,817 3,184,929

Amounts due to clients relate to monies held in the general client bank accounts.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank and other loans - 1-2
years 44,271 18,750
Bank and other loans - 2-5
years 33,333 -
77,604 18,750

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 119,495 122,430
Between one and five years 115,386 163,462
234,881 285,892

The above leases relate to LLP's business premises and equipment rentals.

COLLINS BENSON GOLDHILL LLP (REGISTERED NUMBER: OC320452)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 MARCH 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Loans and overdrafts 491,751 382,958

The loans are secured by the LLP members' personal guarantees.

The partnership has an agreed overdraft facility with HSBC Bank Plc of £150,000. The overdraft is secured by a floating charge over the partnership assets.

11. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with other creditors in a winding up.

12. CHANGE OF ACCOUNTING PERIOD

The LLP has shortened its accounting period to 31 March 2024. This is to comply with the changes introduced by HMRC basis period reforms. The profit and loss figures shown in these accounts therefore represent a five-month period and are not comparable.