REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
QUINTA LAW LLP |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
QUINTA LAW LLP |
QUINTA LAW LLP (REGISTERED NUMBER: OC431832) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
QUINTA LAW LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DESIGNATED MEMBERS: |
Mr MI Emmens |
Mr N D Green |
Mr OB Kenner |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
QUINTA LAW LLP (REGISTERED NUMBER: OC431832) |
BALANCE SHEET |
31 MARCH 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
436,417 |
343,561 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
8 |
436,417 |
343,561 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 8 | 436,417 | 343,561 |
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. |
QUINTA LAW LLP (REGISTERED NUMBER: OC431832) |
BALANCE SHEET - continued |
31 MARCH 2024 |
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 |
QUINTA LAW LLP (REGISTERED NUMBER: OC431832) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Quinta Law LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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, using the straight-line method. |
Depreciation is provided on the following basis: |
Computer equipment - 25% straight-line method |
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 the profit or loss. |
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. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
QUINTA LAW LLP (REGISTERED NUMBER: OC431832) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | 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 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.3.24 | 31.3.23 |
£ | £ |
Within one year |
8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up. |
QUINTA LAW LLP (REGISTERED NUMBER: OC431832) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
9. | PENSION COMMITMENTS |
The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity in an independently administered fund. The pension cost charge represents contributions payable by the entity to the fund and amounted to £13,490. Contributions totalling £1,041 were payable to the fund at the balance sheet date and are included in creditors. |
10. | ULTIMATE CONTROLLING PARTY |
The members consider there to be no individual controlling party. |