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REGISTERED NUMBER: OC401231 (England and Wales)







Financial Statements

for the Period 1st September 2023 to 31st March 2024

for

The Worcester Family Law Practice LLP

The Worcester Family Law Practice LLP (Registered number: OC401231)






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




Page

General Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


The Worcester Family Law Practice LLP

General Information
for the Period 1st September 2023 to 31st March 2024







DESIGNATED MEMBERS: Mrs M Hackett-Lee
Ms S I Humes





REGISTERED OFFICE: 34A Foregate Street
Worcester
Worcestershire
WR1 1EE





REGISTERED NUMBER: OC401231 (England and Wales)





ACCOUNTANTS: The Richards Sandy Partnership
Thorneloe House
25 Barbourne Road
Worcester
Worcestershire
WR1 1RU

The Worcester Family Law Practice LLP (Registered number: OC401231)

Abridged Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,746 1,343

CURRENT ASSETS
Debtors 79,065 65,003
Cash at bank and in hand 60,660 78,068
139,725 143,071
CREDITORS
Amounts falling due within one year 28,228 36,837
NET CURRENT ASSETS 111,497 106,234
TOTAL ASSETS LESS CURRENT
LIABILITIES

114,243

107,577

CREDITORS
Amounts falling due after more than one
year

740

5,926
NET ASSETS ATTRIBUTABLE TO
MEMBERS

113,503

101,651

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

113,503

101,651

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 113,503 101,651

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 31st 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 Worcester Family Law Practice LLP (Registered number: OC401231)

Abridged Balance Sheet - continued
31st March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 31st March 2024 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

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 10th September 2024 and were signed by:




Mrs M Hackett-Lee - Designated member




Ms S I Humes - Designated member


The Worcester Family Law Practice LLP (Registered number: OC401231)

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

1. STATUTORY INFORMATION

The Worcester Family Law Practice 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
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.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the value of services provided to the extent that there is a right to consideration and it is recorded at the value of the consideration due. Where a service has only been partially completed at the balance sheet date, turnover represents the value of the services provided to that date on a proportion of the total expected consideration at completion.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

OPERATING LEASES
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS
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.

BASIC FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11' Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to contractual provisions of the instrument.

Financial assets are offset, with the net amounts presented in the accounts where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic Financial Liabilities
Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts, discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of the operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction cost.

3. EMPLOYEE INFORMATION

The average number of employees during the period was 3 (2023 - 3 ) .

The Worcester Family Law Practice LLP (Registered number: OC401231)

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st September 2023 18,504
Additions 2,356
At 31st March 2024 20,860
DEPRECIATION
At 1st September 2023 17,161
Charge for period 953
At 31st March 2024 18,114
NET BOOK VALUE
At 31st March 2024 2,746
At 31st August 2023 1,343

5. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 9,000 9,000
Between one and five years 9,000 18,000
18,000 27,000

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 9,629 14,815

An unlimited debenture has been given by The Worcester Family Law Practice LLP as security against the bank loan.

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu with ordinary creditors in the event of a winding up.