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REGISTERED NUMBER: OC314642 (England and Wales)













Report of the Members and

Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Ben Hoare Bell LLP

Ben Hoare Bell LLP (Registered number: OC314642)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

General Information 1

Report of the Members 2

Income Statement 3

Statement of Financial Position 4

Notes to the Financial Statements 6


Ben Hoare Bell LLP

General Information
for the year ended 31 March 2024







DESIGNATED MEMBERS: R K Hardy
C McCurley
A Kelly





REGISTERED OFFICE: 19 John Street
Sunderland
Tyne & Wear
SR1 1JG





REGISTERED NUMBER: OC314642 (England and Wales)





ACCOUNTANTS: TTR Barnes Limited
Chartered Accountants
3-5 Grange Terrace
Stockton Road
Sunderland
Tyne & Wear
SR2 7DG

Ben Hoare Bell LLP (Registered number: OC314642)

Report of the Members
for the year ended 31 March 2024

The members present their report with the financial statements of the LLP for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of the provision of legal services.

DESIGNATED MEMBERS
The designated members during the year under review were:

R K Hardy
C McCurley
A Kelly

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £488,366 (2023 - £619,303 profit).

MEMBERS' INTERESTS
The LLPs policy regarding the repayment of capital to members is to retain sufficient funds so that bank borrowing to support working capital is minimised.

The members drawings policy is to agree annually a monthly withdrawal amount.

SMALL LLP PROVISIONS
This report has been prepared in accordance with the provisions available to LLPs entitled to the small LLPs exemption.

ON BEHALF OF THE MEMBERS:





R K Hardy - Designated member


13 August 2024

Ben Hoare Bell LLP (Registered number: OC314642)

Income Statement
for the year ended 31 March 2024

2024 2023
Notes £    £   

TURNOVER 2,803,583 3,180,536

Administrative expenses 2,333,641 2,566,302
469,942 614,234

Other operating income 3,150 1,500
OPERATING PROFIT 4 473,092 615,734

Interest receivable and similar income 17,296 3,762
490,388 619,496

Interest payable and similar expenses 2,022 193
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




488,366




619,303

Ben Hoare Bell LLP (Registered number: OC314642)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 6 - -
Tangible assets 7 7,617 4,624
7,617 4,624

CURRENT ASSETS
Debtors 8 1,237,553 1,267,306
Cash at bank and in hand 924,461 1,051,061
2,162,014 2,318,367
CREDITORS
Amounts falling due within one year 9 473,592 511,212
NET CURRENT ASSETS 1,688,422 1,807,155
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,696,039

1,811,779

CREDITORS
Amounts falling due after more than one
year

10

376,049

603,867
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,319,990

1,207,912

LOANS AND OTHER DEBTS DUE TO
MEMBERS

1,319,990

1,207,912

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 1,319,990 1,207,912

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 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.

Ben Hoare Bell LLP (Registered number: OC314642)

Statement of Financial Position - continued
31 March 2024


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

The financial statements were approved by the members of the LLP and authorised for issue on 13 August 2024 and were signed by:




R K Hardy - Designated member




A Kelly - Designated member


Ben Hoare Bell LLP (Registered number: OC314642)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Ben Hoare Bell 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.

The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future, which the members consider appropriate.

Turnover
Turnover represents amounts due in respect of legal services provided during the year, net of Value Added Tax.

Services provided to clients during the year which, at the balance sheet date, have not been invoiced to clients have been recognised as turnover in accordance with the FRS102. Turnover recognised in th is manner is based on an assessment of the fair value of services provided by the balance sheet date as a proportion of the total value of the engagement. Provision is made against unbilled amounts on those engagements where the right to receive payment is contingent on factors outside the control of the LLP.

Goodwill
Goodwill is fully amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Long leasehold - 10% on cost
Improvements to Property - 10% on cost
Fixtures and fittings - 10% on cost
Computer equipment - 33% Straight line

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis over the lease term.

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.

Tax provisions
Taxation on the profits of the LLP is solely the liability of individual members. Therefore, neither income tax nor deferred tax arising in respect of the LLP's profit is included in these financial statements.

Ben Hoare Bell LLP (Registered number: OC314642)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

3. EMPLOYEE INFORMATION

The average number of employees during the year was 51 (2023 - 65 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 4,478 20,057

5. INFORMATION IN RELATION TO MEMBERS
2024 2023
£    £   
The amount of profit attributable to the member with the largest entitlement was
163,189

180,560

2024 2023

The average number of members during the year was 3 4

6. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 73,912
AMORTISATION
At 1 April 2023
and 31 March 2024 73,912
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Ben Hoare Bell LLP (Registered number: OC314642)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

7. TANGIBLE FIXED ASSETS
Improvements
Short Long to
leasehold leasehold Property
£    £    £   
COST
At 1 April 2023 1,456 14,747 59,917
Additions - - -
At 31 March 2024 1,456 14,747 59,917
DEPRECIATION
At 1 April 2023 1,456 14,747 59,917
Charge for year - - -
At 31 March 2024 1,456 14,747 59,917
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 - - -

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 308,175 237,892 622,187
Additions - 7,471 7,471
At 31 March 2024 308,175 245,363 629,658
DEPRECIATION
At 1 April 2023 308,168 233,275 617,563
Charge for year 7 4,471 4,478
At 31 March 2024 308,175 237,746 622,041
NET BOOK VALUE
At 31 March 2024 - 7,617 7,617
At 31 March 2023 7 4,617 4,624

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 425,430 442,886
Debtors due under contracts 726,573 732,752
Prepayments 85,550 91,668
1,237,553 1,267,306

Ben Hoare Bell LLP (Registered number: OC314642)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors (1 ) 3
Taxation due 62,560 101,914
Social security and other taxes 148,352 189,355
Other creditors 14,264 -
Former members loan accounts 211,765 179,659
Accrued expenses 36,652 40,281
473,592 511,212

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Former members loan accounts 376,049 603,867

The other creditors are unsecured former members loans, which attract interest at 4.25 - 5.25%.