Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-31002024-03-31falsefalse2023-05-01Solicitors5850trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SO305445 2023-05-01 2024-03-31 SO305445 2022-05-01 2023-04-30 SO305445 2024-03-31 SO305445 2023-04-30 SO305445 c:Buildings 2023-05-01 2024-03-31 SO305445 c:MotorVehicles 2023-05-01 2024-03-31 SO305445 c:FurnitureFittings 2023-05-01 2024-03-31 SO305445 c:FurnitureFittings 2024-03-31 SO305445 c:FurnitureFittings 2023-04-30 SO305445 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-05-01 2024-03-31 SO305445 c:OfficeEquipment 2024-03-31 SO305445 c:OfficeEquipment 2023-04-30 SO305445 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-05-01 2024-03-31 SO305445 c:ComputerEquipment 2023-05-01 2024-03-31 SO305445 c:OtherPropertyPlantEquipment 2024-03-31 SO305445 c:OtherPropertyPlantEquipment 2023-04-30 SO305445 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2023-05-01 2024-03-31 SO305445 c:OwnedOrFreeholdAssets 2023-05-01 2024-03-31 SO305445 c:Goodwill 2023-05-01 2024-03-31 SO305445 c:Goodwill 2024-03-31 SO305445 c:Goodwill 2023-04-30 SO305445 c:CurrentFinancialInstruments 2024-03-31 SO305445 c:CurrentFinancialInstruments 2023-04-30 SO305445 c:Non-currentFinancialInstruments 2024-03-31 SO305445 c:Non-currentFinancialInstruments 2023-04-30 SO305445 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 SO305445 c:CurrentFinancialInstruments c:WithinOneYear 2023-04-30 SO305445 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 SO305445 c:Non-currentFinancialInstruments c:AfterOneYear 2023-04-30 SO305445 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-03-31 SO305445 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-04-30 SO305445 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-03-31 SO305445 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-04-30 SO305445 d:FRS102 2023-05-01 2024-03-31 SO305445 d:AuditExemptWithAccountantsReport 2023-05-01 2024-03-31 SO305445 d:FullAccounts 2023-05-01 2024-03-31 SO305445 d:LimitedLiabilityPartnershipLLP 2023-05-01 2024-03-31 SO305445 c:WithinOneYear 2024-03-31 SO305445 c:WithinOneYear 2023-04-30 SO305445 c:BetweenOneFiveYears 2024-03-31 SO305445 c:BetweenOneFiveYears 2023-04-30 SO305445 2 2023-05-01 2024-03-31 SO305445 d:PartnerLLP1 2023-05-01 2024-03-31 SO305445 d:PartnerLLP2 2023-05-01 2024-03-31 SO305445 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 SO305445 c:FurtherSpecificReserve3ComponentTotalEquity 2023-04-30 SO305445 e:PoundSterling 2023-05-01 2024-03-31 iso4217:GBP xbrli:pure

Company Registration Number:  SO305445



















LEVY & MCRAE SOLICITORS LLP
UNAUDITED
FINANCIAL STATEMENTS
 31 MARCH 2024


















img6977.png

 
LEVY & MCRAE SOLICITORS LLP
 

INFORMATION




Designated Members


Mr D R McKie  Mr G D D Craik

LLP registered number

SO305445

Registered office

1st Floor 24 Blythswood SquareGlasgowScotlandG2 4BG

Accountants

Armstrong Watson LLP1st Floor 24 Blythswood SquareGlasgowG2 4BG

Bankers

Barclays Bank plc120 Bothwell StreetGlasgowG2 7JS


 
LEVY & MCRAE SOLICITORS LLP
 

CONTENTS



Page
Members' report
 
 
1
Members' responsibilities statement
 
 
2
Accountants' report
 
 
3
Statement of comprehensive income
 
 
4
Balance sheet
 
 
5 - 6
Reconciliation of members' interests
 
 
7
Notes to the financial statements
 
 
8 - 16

 
LEVY & MCRAE SOLICITORS LLP
 
  
MEMBERS' REPORT
FOR THE PERIOD ENDED 31 MARCH 2024

The members present their annual report together with the financial statements of Levy & McRae Solicitors LLP (the "LLP") for the period ended 31 March 2024. 
 

Principal activities
 
 
The principal object of the LLP is to provide legal services. 
 
 
Designated Members
 
 
Mr D R McKie and Mr G D D Craik were designated members of the LLP throughout the period.
 

 
Members' capital and interests
 
 
Each member's subscription to the capital of the LLP is determined by the member's share of the profit and is repayable following retirement from the LLP.
 
 
Details of changes in members' capital in the period ended 31 March 2024 are set out in the Reconciliation of Members' Interests.
 
 
Members are remunerated from the profits of the LLP and are required to make their own provision for pensions and other benefits. Profits are allocated and divided between members, after deductions for fixed profit share members of the LLP, in pre-determined proportions as set out in the members' agreement. Accordingly all members' remuneration is charged through the profit and loss account as an expense. Profit shares are credited to members' loan accounts, otherwise known as 'capital accounts'. Members draw a proportion of their profit shares monthly during the year in which it is made, with the balance of profits being distributed after the year, subject to the cash requirements of the business.
 

This report was approved by the members and signed on their behalf by: 






Mr D R McKie
Designated member


Date: 11 October 2024

Page 1

 
LEVY & MCRAE SOLICITORS LLP
 
 
MEMBERS' RESPONSIBILITIES STATEMENT
FOR THE PERIOD ENDED 31 MARCH 2024

The members are responsible for preparing responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law, (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law, as applied to LLPs, the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period.

 In preparing these financial statements, the members are required to:

select suitable accounting policies for the LLP's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;


prepare the financial statements on the going concern basis unless it is inappropriate to presume that the entity will continue in business.

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and to enable them to ensure that the financial statements comply with the Limited Liability Partnerships (Accounts and Audit) (Application of the Companies Act 2006) Regulations 2008They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 2

 
LEVY & MCRAE SOLICITORS LLP
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LEVY & MCRAE SOLICITORS LLP
FOR THE PERIOD ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), we have prepared for your approval the financial statements of Levy & McRae Solicitors LLP for the period ended 31 March 2024 which comprise the Statement of comprehensive income, the Balance sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the members in accordance with the terms of our engagement letter dated 1 October 2019Our work has been undertaken solely to prepare for your approval the financial statements of Levy & McRae Solicitors LLP  and state those matters that we have agreed to state to the Levy & McRae Solicitors LLP's members in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Levy & McRae Solicitors LLP and its members for our work or for this report. 

It is your duty to ensure that Levy & McRae Solicitors LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Levy & McRae Solicitors LLP. You consider that Levy & McRae Solicitors LLP is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Levy & McRae Solicitors LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Armstrong Watson LLP
Chartered Accountants
Glasgow
14 October 2024
Page 3

 
LEVY & MCRAE SOLICITORS LLP
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31 MARCH 2024

2024
2023
Note
£
£

  

Turnover
  
7,233,065
6,885,912

Gross profit
  
 
7,233,065
 
6,885,912

Administrative expenses
  
(5,205,586)
(4,364,860)

Operating profit
  
 
2,027,479
 
2,521,052

Interest receivable and similar income
  
61,674
9,466

Interest payable and similar expenses
  
(762)
(990)

Profit/(loss) before tax
  
 
2,088,391
 
2,529,528

Profit/(loss) for the period before members' remuneration and profit shares
  
 
2,088,391
 
2,529,528

Profit for the period before members' remuneration and profit shares
  
2,088,391
2,529,528

Members' remuneration charged as an expense
  
(2,088,391)
(2,529,528)

Profit/(loss) for the financial period available for discretionary division among members
  
 
-
 
-

Other comprehensive income for the period
  

Total comprehensive income for the period
  

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of comprehensive income.

The notes on pages 8 to 16 form part of these financial statements.
Page 4

 
LEVY & MCRAE SOLICITORS LLP
REGISTERED NUMBER: SO305445

BALANCE SHEET
AS AT 31 MARCH 2024

31 March
30 April
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
19,938
31,481

  
19,938
31,481

Current assets
  

Debtors: amounts falling due within one year
 6 
4,077,223
3,927,039

Cash at bank and in hand
  
860,607
1,017,329

  
4,937,830
4,944,368

Creditors: amounts falling due within one year
 7 
(2,677,356)
(2,987,415)

Net current assets
  
 
 
2,260,474
 
 
1,956,953

Total assets less current liabilities
  
2,280,412
1,988,434

Creditors: amounts falling due after more than one year
 8 
(125,000)
(94,167)

  
2,155,412
1,894,267

  

Net assets
  
2,155,412
1,894,267

Page 5

 
LEVY & MCRAE SOLICITORS LLP
REGISTERED NUMBER: SO305445
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

31 March
30 April
2024
2023
Note
£
£

Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 10 
2,155,412
1,894,267

  
2,155,412
1,894,267

  

  
2,155,412
1,894,267


Total members' interests
  

Loans and other debts due to members
 10 
2,155,412
1,894,267

  
2,155,412
1,894,267


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

The entity 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.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

The financial statements were approved and authorised for issue by the members and were signed on their behalf by: 




Mr D R McKie
Mr G D D Craik
Designated member
Designated member


Date: 11 October 2024
Date: 11 October 2024

The notes on pages 8 to 16 form part of these financial statements.

Levy & McRae Solicitors LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.
Page 6

 

 
LEVY & MCRAE SOLICITORS LLP


 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE PERIOD ENDED 31 MARCH 2024



DEBT
Loans and other debts due to members less any amounts due from members in debtors
Other amounts

£

Amounts due to members 
1,263,361

Balance at 1 May 2022 
1,263,362

Members' interests after profit for the period
1,263,362

Members' remuneration charged as an expense
2,529,526

Drawings on account and distribution of profit
(1,898,620)

Amounts due to members
1,894,267

Balance at 30 April 2023
1,894,267

Members' interests after profit for the period
1,894,267

Members' remuneration charged as an expense
2,088,391

Drawings on account and distribution of profit
(1,827,247)

Amounts due to members
2,155,412

Balance at 31 March 2024 
2,155,412

The notes on pages 8 to 16 form part of these financial statements.

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 7

 
LEVY & MCRAE SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

The entity is a limited liability partnership, incorporated and domiciled in Scotland. 
Levy & McRae Solicitors LLP has its registered office at 1st Floor, 24 Blythswood Square, Glasgow, G2 4BG with registered number SO305445. The principal place of business is at Pacific House, 70 Wellington Street, Glasgow, G2 6UA.
The financial statements are presented in pounds sterling as this is the currency of the primary economic environment in which the LLP operates.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the LLP as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 8

 
LEVY & MCRAE SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

In respect of the Boune Back Loan, the deemed interest provided by the government in the interest-free period has been included on a straight line basis.

 
2.7

Pensions

Defined contribution pension plan

The LLP operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the LLP in independently administered funds.

 
2.8

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in the Statement of comprehensive income.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
5
years

Page 9

 
LEVY & MCRAE SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Improvements to property
-
10%
Motor vehicles
-
25%
Fixtures and fittings
-
20%
Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Financial instruments

The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the LLP's Balance sheet when the LLP becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when 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.
Page 10

 
LEVY & MCRAE SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.14
Financial instruments (continued)


Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The LLP's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the period was 58 (2023 - 50).


4.


Intangible assets






 Goodwill

£



Cost


At 1 May 2023
700,000



At 31 March 2024

700,000



Amortisation


At 1 May 2023
700,000



At 31 March 2024

700,000



Net book value



At 31 March 2024
-



At 30 April 2023
-



Page 11

 
LEVY & MCRAE SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

5.


Tangible fixed assets







Fixtures and fittings
Computer equipment
Imprvmts to property
Total

£
£
£
£



Cost or valuation


At 1 May 2023
85,283
26,901
125,922
238,106



At 31 March 2024

85,283
26,901
125,922
238,106



Depreciation


At 1 May 2023
85,283
26,901
94,441
206,625


Charge for the period on owned assets
-
-
11,543
11,543



At 31 March 2024

85,283
26,901
105,984
218,168



Net book value



At 31 March 2024
-
-
19,938
19,938



At 30 April 2023
-
-
31,481
31,481


6.


Debtors

31 March
30 April
2024
2023
£
£


Trade debtors
2,763,487
2,574,446

Other debtors
250,539
200,019

Prepayments and accrued income
193,097
170,185

Amounts recoverable on long term contracts
870,100
982,389

4,077,223
3,927,039


Page 12

 
LEVY & MCRAE SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

31 March
30 April
2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
1,218,350
1,297,628

Other taxation and social security
452,644
498,760

Other creditors
772,785
938,069

Accruals and deferred income
223,577
242,958

2,677,356
2,987,415



8.


Creditors: Amounts falling due after more than one year

31 March
30 April
2024
2023
£
£

Bank loans
15,000
24,167

Other creditors
110,000
70,000

125,000
94,167


Page 13

 
LEVY & MCRAE SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

9.


Loans


Analysis of the maturity of loans is given below:


31 March
30 April
2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
5,000
14,167


5,000
14,167


25,000
34,167


Page 14

 
LEVY & MCRAE SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

10.


Loans and other debts due to members


31 March
30 April
2024
2023
£
£



Other amounts due to members
2,155,412
1,894,267

2,155,412
1,894,267

Loans and other debts due to members may be further analysed as follows:

31 March
30 April
2024
2023
£
£



Falling due within one year
2,155,412
1,894,267

2,155,412
1,894,267

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


11.


Pension commitments

The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity  in an independently administered fund. The pension cost charge represents contributions payable by the entity  to the fund and amounted to £61,848 (2023 - £53,144). Contributions totalling £5,871 (2023 - £4,926) were payable to the fund at the reporting date and are included in creditors.


12.


Commitments under operating leases

At 31 March 2024 the LLP had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

31 March
30 April
2024
2023
£
£


Not later than 1 year
211,478
290,871

Later than 1 year and not later than 5 years
133,821
111,114

345,299
401,985

Page 15

 
LEVY & MCRAE SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

13.


Change in reporting period and impact on comparability

The LLP has shortened its reporting date from 30 April to 31 March so that it aligns with the
related company year end to allow more streamlined reporting. As a result, the comparative
amounts are not entirely comparable.

 
Page 16