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REGISTERED NUMBER: OC325172 (England and Wales)







Financial Statements for the Year Ended 31st March 2024

for

Parkinson Wright LLP

Parkinson Wright LLP (Registered number: OC325172)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Parkinson Wright LLP

General Information
for the Year Ended 31st March 2024







DESIGNATED MEMBERS: C E Arridge
D Godwin
P S Lewis
Mrs J R Newton
R L Preece
J F Redfern
Mrs F Woods
Mrs F Green





REGISTERED OFFICE: Haswell House
St Nicholas Street
Worcester
Worcestershire
WR1 1UN





REGISTERED NUMBER: OC325172 (England and Wales)






Parkinson Wright LLP (Registered number: OC325172)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 134,757 174,852

CURRENT ASSETS
Stocks 425,870 416,915
Debtors 5 1,228,195 1,138,051
Cash at bank 282,157 211,466
1,936,222 1,766,432
CREDITORS
Amounts falling due within one year 6 1,375,871 1,377,216
NET CURRENT ASSETS 560,351 389,216
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

695,108

564,068

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

615,108

494,068

MEMBERS' OTHER INTERESTS
Capital accounts 80,000 70,000
695,108 564,068

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 615,108 494,068
Members' other interests 80,000 70,000
695,108 564,068

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 year 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.

Parkinson Wright LLP (Registered number: OC325172)

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.

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 20th June 2024 and were signed by:





C E Arridge - Designated member

Parkinson Wright LLP (Registered number: OC325172)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Parkinson Wright 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.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over it's estimated useful life

Computers- 25% on a straight line basis
Leasehold Property- 5% on a straight line basis
Office Equipment- 20% on a straight line basis
Office Furniture- 10% on a straight line basis

WORK IN PROGRESS
Work in progress is valued at the lower of cost and net realisable value.

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.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 13 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Freehold Computer
property equipment Totals
£    £    £   
COST
At 1st April 2023 169,159 412,733 581,892
Additions - 35,623 35,623
At 31st March 2024 169,159 448,356 617,515
DEPRECIATION
At 1st April 2023 152,582 254,458 407,040
Charge for year 4,281 71,437 75,718
At 31st March 2024 156,863 325,895 482,758
NET BOOK VALUE
At 31st March 2024 12,296 122,461 134,757
At 31st March 2023 16,577 158,275 174,852

Parkinson Wright LLP (Registered number: OC325172)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 739,598 738,570
Other debtors 137,195 -
Prepayments 351,402 399,481
1,228,195 1,138,051

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 344,479 431,439
Trade creditors 252,252 127,792
Amounts owed to participating interests 331,190 304,313
Social security and other taxes 244,947 292,731
Accrued expenses 203,003 220,941
1,375,871 1,377,216

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members' (other than members' capital classified as debt) ranks equally with other creditors.

8. RELATED PARTY DISCLOSURES

The designated members are also directors and shareholders of Parkinson Wright Limited. Parkinson Wright Limited provides legal staff to Parkinson Wright LLP for which it charges a management charge in addition to the costs of the legal staff provided.

During the year the total charged by Parkinson Wright Limited was £3,024,040 (2023: £2,705,965). At the year end the amount owing to the company by Parkinson Wright LLP was £331,190 (2023: £304,313).

9. ULTIMATE CONTROLLING PARTY

THe LLP is controlled by the designated members,