REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 May 2023 to 31 March 2024 |
for |
Warners Solicitors LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 May 2023 to 31 March 2024 |
for |
Warners Solicitors LLP |
Warners Solicitors LLP (Registered number: SO301921) |
Contents of the Financial Statements |
for the Period 1 May 2023 to 31 March 2024 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Warners Solicitors LLP |
General Information |
for the Period 1 May 2023 to 31 March 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
60 Constitution Street |
Edinburgh |
EH6 6RR |
Warners Solicitors LLP (Registered number: SO301921) |
Balance Sheet |
31 March 2024 |
31.3.24 | 30.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
1,468,782 |
1,166,958 |
Warners Solicitors LLP (Registered number: SO301921) |
Balance Sheet - continued |
31 March 2024 |
31.3.24 | 30.4.23 |
Notes | £ | £ | £ | £ |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
9 |
978,782 |
676,958 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 490,000 | 490,000 |
1,468,782 | 1,166,958 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | 978,782 | 676,958 |
Members' other interests | 490,000 | 490,000 |
1,468,782 | 1,166,958 |
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. |
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 |
Warners Solicitors LLP (Registered number: SO301921) |
Notes to the Financial Statements |
for the Period 1 May 2023 to 31 March 2024 |
1. | STATUTORY INFORMATION |
Warners Solicitors LLP is registered in Scotland. 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 |
There have been no material misstatements from the accounting standards applicable. |
These financial statements for the period ended 31 March 2024 comply with Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". |
Turnover |
Turnover is measured at fair value of the consideration received or receivable and represents the amount receivable for services supplied to customers in the normal course of business, adjusted for work in progress, net or value added tax. The principal turnover stream of the company is providing legal and estate agency services; the policy is to recognise a sale when chargeable services have been supplied to the customer. |
Tangible fixed assets |
Plant and machinery etc | - |
At each balance sheet date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
Work in progress |
Work in progress represents the value of unbilled work done and is stated at recoverable amount. |
Work in progress has been included in sales in the profit and loss account. |
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. Differences between contributions payable and contributions actually paid during the year are shown in accruals. |
Taxation |
The taxation payable on the partnership profits is the personal liability of the members during the year 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 so are included in "Members' interests". |
Warners Solicitors LLP (Registered number: SO301921) |
Notes to the Financial Statements - continued |
for the Period 1 May 2023 to 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Operating leases |
Rentals under operating leases are charged to the profit and loss account on a straight line basis over the lease term. Operating lease expenses are shown within motor expenses. |
Going concern |
As in the normal course of business we have reviewed our activities, together with the factors likely to affect our future development and position. As a result of our current cash reserves and the financial forecasts, we expect to generate positive cash flows for the foreseeable future and therefore the Members have prepared the financial statements on the going concern basis. In making their assessment the Members have considered a period of 12 months from the date of approval of these financial statements. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 May 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for period |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 30 April 2023 |
There have been no indicators of impairment in the year under review. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 30.4.23 |
£ | £ |
Trade debtors |
Other debtors |
Warners Solicitors LLP (Registered number: SO301921) |
Notes to the Financial Statements - continued |
for the Period 1 May 2023 to 31 March 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 30.4.23 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.3.24 | 30.4.23 |
£ | £ |
Within one year |
Between one and five years |
8. | SECURED DEBTS |
AIB hold a floating charge over the assets of the company. The partners believe this charge has been satisfied and have asked the bank to notify Companies House of this. |
9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
31.3.24 | 30.4.23 |
£ | £ |
Amounts owed to members in respect of profits | 978,782 | 676,958 |
Falling due within one year | 978,782 | 676,958 |
Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up. |
10. | ULTIMATE CONTROLLING PARTY |
The LLP is controlled by the designated members. |