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REGISTERED NUMBER: SO301921 (Scotland)















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: D J Scott
L J Taggart
D I Williamson





REGISTERED OFFICE: 22 St Patrick Square
Edinburgh
EH8 9EY





REGISTERED NUMBER: SO301921 (Scotland)





ACCOUNTANTS: Cowan & Partners Limited
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 64,836 91,289

CURRENT ASSETS
Stocks 72,997 66,919
Debtors 5 459,268 343,171
Cash at bank and in hand 1,415,102 1,397,061
1,947,367 1,807,151
CREDITORS
Amounts falling due within one year 6 516,421 704,482
NET CURRENT ASSETS 1,430,946 1,102,669
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,495,782

1,193,958

PROVISIONS FOR LIABILITIES 27,000 27,000
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 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 and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

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 20 August 2024 and were signed by:





D J Scott - Designated member

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
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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

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 74 (2023 - 70 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 471,236
Additions 700
At 31 March 2024 471,936
DEPRECIATION
At 1 May 2023 379,947
Charge for period 27,153
At 31 March 2024 407,100
NET BOOK VALUE
At 31 March 2024 64,836
At 30 April 2023 91,289

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 206,899 129,353
Other debtors 252,369 213,818
459,268 343,171

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 - 58,333
Taxation and social security 152,021 172,085
Other creditors 364,400 474,064
516,421 704,482

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 30.4.23
£    £   
Within one year 85,297 85,297
Between one and five years 141,709 222,522
227,006 307,819

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.