Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30true2023-05-0111falseNo description of principal activity10trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC331807 2023-05-01 2024-04-30 OC331807 2022-05-01 2023-04-30 OC331807 2024-04-30 OC331807 2023-04-30 OC331807 c:FurnitureFittings 2023-05-01 2024-04-30 OC331807 c:FurnitureFittings 2024-04-30 OC331807 c:FurnitureFittings 2023-04-30 OC331807 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 OC331807 c:ComputerEquipment 2023-05-01 2024-04-30 OC331807 c:ComputerEquipment 2024-04-30 OC331807 c:ComputerEquipment 2023-04-30 OC331807 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 OC331807 c:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 OC331807 c:OtherPropertyPlantEquipment 2024-04-30 OC331807 c:OtherPropertyPlantEquipment 2023-04-30 OC331807 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 OC331807 c:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 OC331807 c:CurrentFinancialInstruments 2024-04-30 OC331807 c:CurrentFinancialInstruments 2023-04-30 OC331807 c:Non-currentFinancialInstruments 2024-04-30 OC331807 c:Non-currentFinancialInstruments 2023-04-30 OC331807 c:CurrentFinancialInstruments c:WithinOneYear 2024-04-30 OC331807 c:CurrentFinancialInstruments c:WithinOneYear 2023-04-30 OC331807 c:Non-currentFinancialInstruments c:AfterOneYear 2024-04-30 OC331807 c:Non-currentFinancialInstruments c:AfterOneYear 2023-04-30 OC331807 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-04-30 OC331807 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-04-30 OC331807 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-04-30 OC331807 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-04-30 OC331807 d:FRS102 2023-05-01 2024-04-30 OC331807 d:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 OC331807 d:FullAccounts 2023-05-01 2024-04-30 OC331807 d:LimitedLiabilityPartnershipLLP 2023-05-01 2024-04-30 OC331807 2 2023-05-01 2024-04-30 OC331807 d:PartnerLLP1 2023-05-01 2024-04-30 OC331807 d:PartnerLLP3 2023-05-01 2024-04-30 OC331807 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-04-30 OC331807 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-04-30 OC331807 c:FurtherSpecificReserve3ComponentTotalEquity 2024-04-30 OC331807 c:FurtherSpecificReserve3ComponentTotalEquity 2023-04-30 OC331807 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: OC331807









BSG SOLICITORS LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
BSG SOLICITORS LLP
REGISTERED NUMBER: OC331807

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
36,891
32,957

  
36,891
32,957

Current assets
  

Stocks
  
95,592
125,211

Debtors: amounts falling due within one year
 5 
190,397
184,302

Cash at bank and in hand
 6 
60,489
131,172

  
346,478
440,685

Creditors: Amounts Falling Due Within One Year
 7 
(61,686)
(70,933)

Net current assets
  
 
 
284,792
 
 
369,752

Total assets less current liabilities
  
321,683
402,709

Creditors: amounts falling due after more than one year
 8 
-
(43,359)

  
321,683
359,350

  

Net assets
  
321,683
359,350


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 10 
321,583
359,250

  
321,583
359,250

Members' other interests
  

Members' capital classified as equity
  
100
100

  
 
100
 
100

  
321,683
359,350


Total members' interests
  

Loans and other debts due to members
 10 
321,583
359,250

Members' other interests
  
100
100

  
321,683
359,350


Page 1

 
BSG SOLICITORS LLP
REGISTERED NUMBER: OC331807
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

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

The entity 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.

The Members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

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

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the Members and were signed on their behalf by: 




JSS Law Limited
Osteolaw Limited
Designated Member
Designated Member


Date: 14 August 2024

The notes on pages 3 to 9 form part of these financial statements.

BSG Solicitors LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

Page 2

 
BSG SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

BSG Solicitors is a Limited Liability Partnership incorporated and registered in England and is registered at 314 Regents Park Road, Finchley, London, N3 2JX.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The following principal accounting policies have been applied:

 
2.2

Going concern

In assessing the ability of the partnership to operate as a going concern, members have evaluated current and forecasted operational results and the solvency of the partnership. As a result, the members consider it appropriate to prepare the financial statements on a going concern basis. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the LLP as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
BSG SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The LLP operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the LLP in independently administered funds.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
15% reducing balance
Computer equipment
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
BSG SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.10

Stocks and work in progress

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .


3.


Employees

The average monthly number of employees, including members, during the year was 10 (2023 - 11).

Page 5

 
BSG SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Leasehold improvements
Total

£
£
£
£



Cost or valuation


At 1 May 2023
125,346
302,370
32,433
460,149


Additions
993
5,857
-
6,850



At 30 April 2024

126,339
308,227
32,433
466,999



Depreciation


At 1 May 2023
112,659
282,100
32,433
427,192


Charge for the year on owned assets
1,977
939
-
2,916



At 30 April 2024

114,636
283,039
32,433
430,108



Net book value



At 30 April 2024
11,703
25,188
-
36,891



At 30 April 2023
12,687
20,270
-
32,957


5.


Debtors

2024
2023
£
£


Trade debtors
156,145
150,765

Other debtors
266
-

Prepayments and accrued income
33,985
33,538

190,396
184,303



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
60,489
131,172

60,489
131,172


Page 6

 
BSG SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
19,987

Other taxation and social security
33,416
27,196

Other creditors
4,520
-

Accruals and deferred income
23,750
23,750

61,686
70,933



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
43,359

-
43,359


Page 7

 
BSG SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
-
19,987


-
19,987

Amounts falling due 1-2 years

Bank loans
-
20,000


-
20,000

Amounts falling due 2-5 years

Bank loans
-
23,359


-
23,359


-
63,346


During the year, the LLP repaid the bounceback loan in full. 

Page 8

 
BSG SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

10.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
321,583
359,250

321,583
359,250

Loans and other debts due to members may be further analysed as follows:

2024
2023
£
£



Falling due within one year
321,583
359,250

321,583
359,250

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


11.


Pension commitments

The LLP operates a defined contribution pension scheme, for employees including members. The assets of the scheme are held seperately from those of the LLP in an independently administered fund.

 
Page 9