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REGISTERED NUMBER: OC326488 (England and Wales)





HOPKINS (2021) LLP

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 AUGUST 2023 TO 31 MARCH 2024






HOPKINS (2021) LLP (REGISTERED NUMBER: OC326488)

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










Page

General Information 1

Report of the Members 2

Chartered Accountants' Report 4

Income Statement 6

Balance Sheet 7

Notes to the Financial Statements 9


HOPKINS (2021) LLP

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







DESIGNATED MEMBERS: Mr P J Todd
Mr M C Knox
Mr C P Wright
Mr T W Stendall
Miss R D Jackson
Ms C M Lowe





REGISTERED OFFICE: Eden Court
Crow Hill Drive
Mansfield
Nottinghamshire
NG19 7AE





REGISTERED NUMBER: OC326488 (England and Wales)





ACCOUNTANTS: ApC
Chartered Accountants
7 St John Street
Mansfield
Nottinghamshire
NG18 1QH

HOPKINS (2021) LLP (REGISTERED NUMBER: OC326488)

REPORT OF THE MEMBERS
FOR THE PERIOD 1 AUGUST 2023 TO 31 MARCH 2024


The members present their report with the financial statements of the LLP for the period 1 August 2023 to 31 March 2024.

CHANGE OF NAME
The LLP passed a special resolution on 31 August 2023 changing its name from Hopkins Solicitors LLP to Hopkins (2021) LLP.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the period under review was that of legal advisers.

DESIGNATED MEMBERS
The designated members during the period under review were:

Mr P J Todd
Mr R P A Siderfin
Mr M C Knox
Mr C P Wright
Mr T W Stendall
Miss R D Jackson
Ms C M Lowe

RESULTS FOR THE PERIOD AND ALLOCATION TO MEMBERS
The profit for the period before members' remuneration and profit shares was £NIL (2023 - £1,724,660 profit).


HOPKINS (2021) LLP (REGISTERED NUMBER: OC326488)

REPORT OF THE MEMBERS
FOR THE PERIOD 1 AUGUST 2023 TO 31 MARCH 2024

MEMBERS' INTERESTS
Members are permitted to make drawings in anticipation of profits which will be allocated to them. the amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP.

New members are required to subscribe a minimum level of capital and in subsequent years members are invited to subscribe for further capital, the amounts of which is determined by the performance and seniority of those members. On retirement, capital is repaid to members.

During the year £Nil (2023:£Nil) was transferred from debt due to members to member's interests.

ON BEHALF OF THE MEMBERS:





Mr M C Knox - Designated member


13 August 2024

CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HOPKINS (2021) LLP



In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Hopkins (2021) LLP for the period ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of Hopkins (2021) LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hopkins (2021) LLP and state those matters that we have agreed to state to the members of Hopkins (2021) LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hopkins (2021) LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Hopkins (2021) LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hopkins (2021) LLP. You consider that Hopkins (2021) LLP is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Hopkins (2021) LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






ApC
Chartered Accountants
7 St John Street
Mansfield
Nottinghamshire
NG18 1QH



CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HOPKINS (2021) LLP


13 August 2024

HOPKINS (2021) LLP (REGISTERED NUMBER: OC326488)

INCOME STATEMENT
FOR THE PERIOD 1 AUGUST 2023 TO 31 MARCH 2024

PERIOD PERIOD
1/8/23 1/4/22
TO TO
31/3/24 31/7/23
Notes £    £   

TURNOVER 7,982 6,742,212

Administrative expenses (7,982 ) (5,101,191 )
OPERATING PROFIT 4 - 1,641,021

Interest receivable and similar income - 155,066
- 1,796,087

Interest payable and similar expenses - (71,427 )
PROFIT FOR THE FINANCIAL PERIOD
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS




-




1,724,660

HOPKINS (2021) LLP (REGISTERED NUMBER: OC326488)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 6 - 50,836
Tangible assets 7 - 184,065
- 234,901

CURRENT ASSETS
Debtors 8 - 2,143,491
Cash at bank and in hand - 379,311
- 2,522,802
CREDITORS
Amounts falling due within one year 9 - 310,113
NET CURRENT ASSETS - 2,212,689
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

-

2,447,590

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

1,866,990

MEMBERS' OTHER INTERESTS
Capital accounts - 580,600
- 2,447,590

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members - 1,866,990
Members' other interests - 580,600
- 2,447,590

HOPKINS (2021) LLP (REGISTERED NUMBER: OC326488)

BALANCE SHEET - continued
31 MARCH 2024


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.

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

The financial statements were approved by the members of the LLP and authorised for issue on 13 August 2024 and were signed by:





Mr M C Knox - Designated member

HOPKINS (2021) LLP (REGISTERED NUMBER: OC326488)

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


1. STATUTORY INFORMATION

Hopkins (2021) 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
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.

Significant judgements and estimates
The preparation of the financial statements requires the members to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Conditional fee arrangements on personal injury cases require a favourable outcome preceding payment for legal services plus any percentage success fees; the members assume "no win no fee" as at the balance sheet date.

The financial statement includes estimations that assume the historical results can project the future expectations regarding the recognition of revenue at the balance sheet date and within in the next financial year.

Amounts recoverable on legal service contracts are calculated on a basis in line with the legal service type; wills, conveyancing, family, commercial, probate and either the estimated stage of completion for fixed fee arrangements or the historical results percentage is applied to calculate the total carrying value of £Nil (2023:£905,318) as at the reporting date.

HOPKINS (2021) LLP (REGISTERED NUMBER: OC326488)

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


2. ACCOUNTING POLICIES - continued

Turnover
Turnover represents the value excluding Value Added Tax, of legal services supplied to customers during the year.

In respect of income received on fixed fee contracts, income is released into the profit and loss account in line with the stage of completion of the contract.
In respect of no win, no fee contracts, income is only released into the profit and loss account when a positive outcome to the case has been agreed.
In respect of any other legal services supplied to customers, all income is taken to profit and loss at the same point as the right to receive the consideration is acquired.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised at a rate of 33% on reducing balance.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 10% straight line
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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.

HOPKINS (2021) LLP (REGISTERED NUMBER: OC326488)

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


2. ACCOUNTING POLICIES - continued

Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with FRS 25 (IAS 32) Financial Instruments: Disclosure and Presentation and UITF abstract 39 Members' shares in co-operative entities and similar instruments. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the Profit and Loss Account in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the Balance Sheet.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the Profit and Loss Account and are equity appropriations in the Balance Sheet.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional rights to refuse payment.

All amounts due to members that are classified as liabilities are presented in the Balance Sheet within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Balance Sheet within 'Members' other interests'.

Debtors and creditors repayable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

HOPKINS (2021) LLP (REGISTERED NUMBER: OC326488)

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


2. ACCOUNTING POLICIES - continued

Taxation
The taxation payable on the partnership profits is the personal liability of the members and consequently neither taxation nor related deferred taxation are accounted for in the financial statements. Amounts retained for members' personal tax liabilities are treated in the same way as other profits of the partnership and are included in 'Loans and other debts due to members'.

3. EMPLOYEE INFORMATION

The average number of employees during the period was NIL (2023 - 78 ).

4. OPERATING PROFIT

The operating profit is stated after charging:

PERIOD PERIOD
1/8/23 1/4/22
TO TO
31/3/24 31/7/23
£    £   
Depreciation - owned assets - 94,608
Computer software amortisation - 40,672

5. PENSIONS

The LLP operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the LLP in an independently administered fund. the pension cost charged represents contributions payable by the LLP to the fund and amounted to £Nil (2023:£55,328).

HOPKINS (2021) LLP (REGISTERED NUMBER: OC326488)

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


6. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 August 2023 91,508
Disposals (91,508 )
At 31 March 2024 -
AMORTISATION
At 1 August 2023 40,672
Eliminated on disposal (40,672 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 July 2023 50,836

HOPKINS (2021) LLP (REGISTERED NUMBER: OC326488)

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


7. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 148,503 173,895 4,700 369,211 696,309
Disposals (148,503 ) (173,895 ) (4,700 ) (369,211 ) (696,309 )
At 31 March 2024 - - - - -
DEPRECIATION
At 1 August 2023 75,487 98,487 4,282 333,988 512,244
Eliminated on disposal (75,487 ) (98,487 ) (4,282 ) (333,988 ) (512,244 )
At 31 March 2024 - - - - -
NET BOOK VALUE
At 31 March 2024 - - - - -
At 31 July 2023 73,016 75,408 418 35,223 184,065

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 1,140,190
Amounts owed by participating interests - 5,000
Amounts recoverable on contract - 905,318
Prepayments and accrued income - 92,983
- 2,143,491

HOPKINS (2021) LLP (REGISTERED NUMBER: OC326488)

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


9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 89,324
Trade creditors - 5,096
Social security and other taxes - 54,064
VAT - 71,830
Other creditors - 10,542
Accruals and deferred income - 79,257
- 310,113

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year - 87,939
Between one and five years - 202,550
In more than five years - 110,850
- 401,339

11. RELATED PARTY TRANSACTION

During the year the LLP was charged rent and insurance for none (2023: three) of its offices, from I.P.M SIPP Administration Limited, a collection of personal pension arrangements for some of the members. The charge to the profit and loss account during the year amounted to £Nil and £Nil respectively (2023:£55,202 and £4,711). There were no (2023:no) amounts outstanding with respect to these transactions at the balance sheet date. All transactions were carried out at an open market value.

A partner contributed to the client account on behalf of a related party of £Nil (2023: £742). All transactions relating to this file were carried out at market value.

12. CONTROLLING PARTY

There is no controlling party as no member has over 50% of the equity of the LLP.