REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
B J Mckenna & Co Solicitors LLP |
REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
B J Mckenna & Co Solicitors LLP |
B J Mckenna & Co Solicitors LLP (Registered number: OC376377) |
Contents of the Financial Statements |
for the year ended 31 March 2024 |
Page |
General Information | 1 |
Report of the Members | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 |
B J Mckenna & Co Solicitors LLP |
General Information |
for the year ended 31 March 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
St George's Court |
Winnington Avenue |
Northwich |
Cheshire |
CW8 4EE |
B J Mckenna & Co Solicitors LLP (Registered number: OC376377) |
Report of the Members |
for the year ended 31 March 2024 |
The members present their report with the financial statements of the LLP for the year ended 31 March 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of a firm of solicitors. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £61,824 (2023 - £28,714 loss). |
MEMBERS' INTERESTS |
ON BEHALF OF THE MEMBERS: |
B J Mckenna & Co Solicitors LLP (Registered number: OC376377) |
Income Statement |
for the year ended 31 March 2024 |
2024 | 2023 |
Notes | £ | £ |
TURNOVER |
Administrative expenses | ( |
) | ( |
) |
OPERATING LOSS | 4 | ( |
) | ( |
) |
Interest receivable and similar income |
104,867 | (27,346 | ) |
Interest payable and similar expenses | ( |
) | ( |
) |
PROFIT/(LOSS) FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES |
61,824 |
(28,714 |
) |
PROFIT/(LOSS) FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES |
61,824 |
(28,714 |
) |
Members' remuneration charged as an expense | 5 | (61,824 | ) | - |
LOSS FOR THE FINANCIAL YEAR AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
( |
) |
B J Mckenna & Co Solicitors LLP (Registered number: OC376377) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
47,270 |
169,335 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
47,270 |
169,335 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 47,270 | 169,335 |
Amounts due from members | 7 | - | (21,162 | ) |
47,270 | 148,173 |
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. |
The financial statements were approved by the members of the LLP and authorised for issue on |
B J Mckenna & Co Solicitors LLP (Registered number: OC376377) |
Notes to the Financial Statements |
for the year ended 31 March 2024 |
1. | STATUTORY INFORMATION |
B J Mckenna & Co Solicitors 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 presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents amounts chargeable to clients for professional services provided during the year, inclusive of direct expenses incurred on client assignments but excluding value added tax. Turnover is recognised when a right to consideration has been obtained through performance under each contract. Consideration accrues as contract activity progresses by reference to the value of work performed. |
Turnover is not recognised where the right to receive payment is contingent on events outside the control of the company. Unbilled revenue is included in debtors within accrued income. |
Tangible fixed assets |
The following fixed assets are depreciated accordingly: |
Computer equipment - 33% reducing balance |
Motor vehicles - 25% reducing balance |
Fixtures and fittings - 15% reducing balance |
Improvements to property - 10 years straight line |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
Taxation |
The taxation payable on the profits of the limited liability partnership is the personal liability of the members. |
No provision is therefore made in the financial statements for members tax liabilities. |
Members profit shares |
Profits are automatically divided between the members at the end of the financial year in accordance with agreed profit sharing arrangements. Allocated profits are shown as members remuneration charged as an expense in the profit and loss account and are included within loans and other debts due to members in the balance sheet. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
4. | OPERATING LOSS |
The operating loss is stated after charging: |
2024 | 2023 |
£ | £ |
Depreciation - owned assets |
B J Mckenna & Co Solicitors LLP (Registered number: OC376377) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
5. | INFORMATION IN RELATION TO MEMBERS |
2024 | 2023 |
£ | £ |
Members' remuneration charged as an expense |
Partners' salaries | 61,824 | - |
6. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |