Silverfin false 31/03/2024 01/04/2023 31/03/2024 J Green 31/10/2011 J Lynn 01/07/2024 01/06/2016 S White 08/03/2008 02 September 2024 OC335465 2024-03-31 OC335465 bus:Director1 2024-03-31 OC335465 bus:Director2 2024-03-31 OC335465 bus:Director3 2024-03-31 OC335465 2023-03-31 OC335465 core:CurrentFinancialInstruments 2024-03-31 OC335465 core:CurrentFinancialInstruments 2023-03-31 OC335465 core:Non-currentFinancialInstruments 2024-03-31 OC335465 core:Non-currentFinancialInstruments 2023-03-31 OC335465 core:OfficeEquipment 2023-03-31 OC335465 core:ComputerEquipment 2023-03-31 OC335465 core:OfficeEquipment 2024-03-31 OC335465 core:ComputerEquipment 2024-03-31 OC335465 2023-04-01 2024-03-31 OC335465 bus:FullAccounts 2023-04-01 2024-03-31 OC335465 bus:SmallEntities 2023-04-01 2024-03-31 OC335465 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 OC335465 bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC335465 bus:Director1 2023-04-01 2024-03-31 OC335465 bus:Director2 2023-04-01 2024-03-31 OC335465 bus:Director3 2023-04-01 2024-03-31 OC335465 core:OfficeEquipment core:TopRangeValue 2023-04-01 2024-03-31 OC335465 core:ComputerEquipment core:TopRangeValue 2023-04-01 2024-03-31 OC335465 2022-04-01 2023-03-31 OC335465 core:OfficeEquipment 2023-04-01 2024-03-31 OC335465 core:ComputerEquipment 2023-04-01 2024-03-31 OC335465 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: OC335465 (England and Wales)

COURTYARD SOLICITORS LLP

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

COURTYARD SOLICITORS LLP

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

COURTYARD SOLICITORS LLP

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
COURTYARD SOLICITORS LLP

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 221 746
221 746
Current assets
Stocks 1,978 2,438
Debtors 4 103,980 103,024
Cash at bank and in hand 32,476 47,641
138,434 153,103
Creditors: amounts falling due within one year 5 ( 22,140) ( 26,749)
Net current assets 116,294 126,354
Total assets less current liabilities 116,515 127,100
Creditors: amounts falling due after more than one year 6 ( 16,515) ( 27,100)
Net assets attributable to members 100,000 100,000
Represented by
Members' other interests
Members' capital classified as equity 100,000 100,000
100,000 100,000
100,000 100,000
Total members' interests
Amounts due from members (included in debtors) (79,892) (67,147)
Members' other interests 100,000 100,000
20,108 32,853

For the financial year ending 31 March 2024 the LLP 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.

Members' responsibilities:

The financial statements of Courtyard Solicitors LLP (registered number: OC335465) were approved and authorised for issue by the Board of Directors on 02 September 2024. They were signed on its behalf by:

S White
Designated member
COURTYARD SOLICITORS LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
COURTYARD SOLICITORS LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Courtyard Solicitors LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Highland House, 165-167 The Broadway, London, SW19 1NE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The members have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Office equipment 3 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The LLP as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Work in progress is stated at estimated realisable value, after providing for non-recoverable amounts.
Work in progress represents unbilled revenue.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the LLP during the year 4 4

3. Tangible assets

Office equipment Computer equipment Total
£ £ £
Cost
At 01 April 2023 1,615 930 2,545
At 31 March 2024 1,615 930 2,545
Accumulated depreciation
At 01 April 2023 1,400 399 1,799
Charge for the financial year 215 310 525
At 31 March 2024 1,615 709 2,324
Net book value
At 31 March 2024 0 221 221
At 31 March 2023 215 531 746

4. Debtors

2024 2023
£ £
Trade debtors 24,088 35,877
Amounts owed by members 79,892 67,147
103,980 103,024

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,106 9,171
Trade creditors 5,451 4,801
Accruals 200 200
Other taxation and social security 6,209 12,404
Other creditors 174 173
22,140 26,749

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 16,515 27,100

There are no amounts included above in respect of which any security has been given by the small entity.