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REGISTERED NUMBER: OC382414
AUBREY ISAACSON SOLICITORS LLP
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2024
AUBREY ISAACSON SOLICITORS LLP
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
AUBREY ISAACSON SOLICITORS LLP
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
7,434
9,419
Current assets
Stocks
38,675
37,625
Debtors
6
199,572
311,198
Cash at bank and in hand
248,098
217,430
---------
---------
486,345
566,253
Creditors: amounts falling due within one year
7
71,176
63,750
---------
---------
Net current assets
415,169
502,503
---------
---------
Total assets less current liabilities
422,603
511,922
---------
---------
Net assets
422,603
511,922
---------
---------
Represented by:
Loans and other debts due to members
Other amounts
8
422,603
511,922
---------
---------
Members' other interests
Other reserves
---------
---------
422,603
511,922
---------
---------
Total members' interests
Loans and other debts due to members
8
422,603
511,922
Members' other interests
---------
---------
422,603
511,922
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.
For the year ending 31 March 2024 the LLP 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) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .
AUBREY ISAACSON SOLICITORS LLP
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These financial statements were approved by the members and authorised for issue on 16 May 2024 , and are signed on their behalf by:
A. Isaacson
S. D. Isaacson
Designated Member
Designated Member
Registered number: OC382414
AUBREY ISAACSON SOLICITORS LLP
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1.
General information
The LLP is registered in England and Wales. The address of the registered office is 8 Scholes Lane, Prestwich, Manchester, M25 0BA.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2018 (SORP 2018).
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property improvements
-
20% straight line
Computer equipment
-
25% reducing balance
Fixtures and fittings
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 8 (2023: 8 ).
5.
Tangible assets
Property improvements
Computer equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 April 2023 and 31 March 2024
7,050
20,473
40,686
68,209
-------
--------
--------
--------
Depreciation
At 1 April 2023
7,050
18,447
33,293
58,790
Charge for the year
506
1,479
1,985
-------
--------
--------
--------
At 31 March 2024
7,050
18,953
34,772
60,775
-------
--------
--------
--------
Carrying amount
At 31 March 2024
1,520
5,914
7,434
-------
--------
--------
--------
At 31 March 2023
2,026
7,393
9,419
-------
--------
--------
--------
6.
Debtors
2024
2023
£
£
Trade debtors
163,052
265,569
Other debtors
36,520
45,629
---------
---------
199,572
311,198
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
27,524
26,767
Other creditors
43,652
36,983
--------
--------
71,176
63,750
--------
--------
8.
Loans and other debts due to members
2024
2023
£
£
Amounts owed to members in respect of profits
422,603
511,922
---------
---------