IRIS Accounts Production v24.2.0.383 OC435829 designated member 1.6.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC4358292023-05-31OC4358292024-03-31OC4358292023-06-012024-03-31OC4358292022-05-31OC4358292022-06-012023-05-31OC4358292023-05-31OC435829ns15:EnglandWales2023-06-012024-03-31OC435829ns14:PoundSterling2023-06-012024-03-31OC435829ns10:PartnerLLP12023-06-012024-03-31OC435829ns10:LimitedLiabilityPartnershipLLP2023-06-012024-03-31OC435829ns10:SmallEntities2023-06-012024-03-31OC435829ns10:AuditExempt-NoAccountantsReport2023-06-012024-03-31OC435829ns10:SmallCompaniesRegimeForAccounts2023-06-012024-03-31OC435829ns10:LimitedLiabilityPartnershipsSORP2023-06-012024-03-31OC435829ns10:FullAccounts2023-06-012024-03-31OC435829ns10:PartnerLLP22023-06-012024-03-31OC435829ns10:RegisteredOffice2023-06-012024-03-31OC435829ns5:CurrentFinancialInstruments2024-03-31OC435829ns5:CurrentFinancialInstruments2023-05-31OC435829ns5:Non-currentFinancialInstruments2024-03-31OC435829ns5:Non-currentFinancialInstruments2023-05-31OC435829ns5:FurnitureFittings2023-06-012024-03-31OC435829ns5:ComputerEquipment2023-06-012024-03-31OC435829ns5:FurnitureFittings2023-05-31OC435829ns5:ComputerEquipment2023-05-31OC435829ns5:FurnitureFittings2024-03-31OC435829ns5:ComputerEquipment2024-03-31OC435829ns5:FurnitureFittings2023-05-31OC435829ns5:ComputerEquipment2023-05-31OC435829ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-31OC435829ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-31OC435829ns5:Secured2024-03-31OC435829ns5:Secured2023-05-31
REGISTERED NUMBER: OC435829 (England and Wales)













Unaudited Financial Statements

for the Period 1 June 2023 to 31 March 2024

for

Merritts Solicitors LLP

Merritts Solicitors LLP (Registered number: OC435829)






Contents of the Financial Statements
for the Period 1 June 2023 to 31 March 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Merritts Solicitors LLP

General Information
for the Period 1 June 2023 to 31 March 2024







DESIGNATED MEMBERS: Mrs H Baxter
M J Moran





REGISTERED OFFICE: 83 High Street
Yarm
United Kingdom
Cleveland
TS15 9BG





REGISTERED NUMBER: OC435829 (England and Wales)





ACCOUNTANTS: Anderson Barrowcliff Limited
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

Merritts Solicitors LLP (Registered number: OC435829)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,071 24,858

CURRENT ASSETS
Debtors 5 850,928 700,254
Cash at bank and in hand 225,850 350,972
1,076,778 1,051,226
CREDITORS
Amounts falling due within one year 6 455,618 406,035
NET CURRENT ASSETS 621,160 645,191
TOTAL ASSETS LESS CURRENT
LIABILITIES

645,231

670,049

CREDITORS
Amounts falling due after more than one
year

7

38,750

93,750
NET ASSETS ATTRIBUTABLE TO
MEMBERS

606,481

576,299

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

606,481

576,299

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 606,481 576,299

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.

Merritts Solicitors LLP (Registered number: OC435829)

Balance Sheet - continued
31 March 2024


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 10 September 2024 and were signed by:





M J Moran - Designated member

Merritts Solicitors LLP (Registered number: OC435829)

Notes to the Financial Statements
for the Period 1 June 2023 to 31 March 2024

1. STATUTORY INFORMATION

Merritts Solicitors 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 £ sterling and is rounded to the nearest £.

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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, value added tax and other sales taxes, adjusted for opening and closing amounts recoverable on contracts.

Revenue is recognised in accordance with FRS 102. Income is recognised when the LLP has performed the services for it's clients, and has obtained the right to consideration for those services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

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.

Amounts recoverable on contracts
Amounts recoverable on contracts is calculated based on an assessment of the fair value of the services provided at the Balance Sheet date that have yet to be billed.

Debtors and creditors receivable/payable 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.

3. EMPLOYEE INFORMATION

The average number of employees during the period was 27 (2023 - 23 ) .

Merritts Solicitors LLP (Registered number: OC435829)

Notes to the Financial Statements - continued
for the Period 1 June 2023 to 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2023 5,109 35,237 40,346
Additions 1,195 9,529 10,724
At 31 March 2024 6,304 44,766 51,070
DEPRECIATION
At 1 June 2023 1,348 14,140 15,488
Charge for period 872 10,639 11,511
At 31 March 2024 2,220 24,779 26,999
NET BOOK VALUE
At 31 March 2024 4,084 19,987 24,071
At 31 May 2023 3,761 21,097 24,858

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 506,340 388,298
Amounts recoverable on contract 290,030 265,825
Other debtors 54,558 46,131
850,928 700,254

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 76,496 52,500
Trade creditors - 1,537
Taxation and social security 212,426 166,829
Other creditors 166,696 185,169
455,618 406,035

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 38,750 93,750

Merritts Solicitors LLP (Registered number: OC435829)

Notes to the Financial Statements - continued
for the Period 1 June 2023 to 31 March 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 98,750 -

The bank loan is secured by a fixed charge and a floating charge over all the property and undertakings of the LLP.

9. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 606,481 576,299

Falling due within one year 606,481 576,299

Loans & other debts due to members rank after all unsecured creditors in the event of a winding up.

10. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £20,341.