REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements |
for the Period 1 January 2023 to 31 March 2024 |
for |
Cooper Sons Hartley and Williams LLP |
REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements |
for the Period 1 January 2023 to 31 March 2024 |
for |
Cooper Sons Hartley and Williams LLP |
Cooper Sons Hartley and Williams LLP (Registered number: OC427438) |
Contents of the Financial Statements |
for the period 1 January 2023 to 31 March 2024 |
Page |
General Information | 1 |
Report of the Members | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 |
Cooper Sons Hartley and Williams LLP |
General Information |
for the period 1 January 2023 to 31 March 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
St George's Court |
Winnington Avenue |
Northwich |
Cheshire |
CW8 4EE |
Cooper Sons Hartley and Williams LLP (Registered number: OC427438) |
Report of the Members |
for the period 1 January 2023 to 31 March 2024 |
The members present their report with the financial statements of the LLP for the period 1 January 2023 to 31 March 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the period under review was that of a solicitors practice. |
DESIGNATED MEMBERS |
The designated members during the period under review were: |
RESULTS FOR THE PERIOD AND ALLOCATION TO MEMBERS |
The profit for the period before members' remuneration and profit shares was £732,476 (2022 - £614,521 profit). |
MEMBERS' INTERESTS |
The members' drawing policy allows each member to draw a proportion of their profit share, subject to the cash requirements of the business. |
A members capital requirement is linked to their share of profit and financing requirement of the business. There is no opportunity for appreciation of the capital subscribed. Just as incoming members introduce their capital at "par", so the retiring members are repaid their capital at "par". |
ON BEHALF OF THE MEMBERS: |
Cooper Sons Hartley and Williams LLP (Registered number: OC427438) |
Income Statement |
for the period 1 January 2023 to 31 March 2024 |
Period |
1.1.23 |
to | Year Ended |
31.3.24 | 31.12.22 |
Notes | £ | £ |
TURNOVER |
Cost of sales | ( |
) | ( |
) |
GROSS PROFIT |
Administrative expenses | ( |
) | ( |
) |
OPERATING PROFIT |
Interest receivable and similar income |
776,086 | 625,591 |
Interest payable and similar expenses | ( |
) | ( |
) |
PROFIT FOR THE FINANCIAL PERIOD BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES |
732,476 |
614,521 |
PROFIT FOR THE FINANCIAL PERIOD BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES |
732,476 |
614,521 |
Members' remuneration charged as an expense | 4 | (732,476 | ) | (614,521 | ) |
PROFIT FOR THE FINANCIAL PERIOD AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
Cooper Sons Hartley and Williams LLP (Registered number: OC427438) |
Balance Sheet |
31 March 2024 |
2024 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
547,736 |
1,025,397 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
547,736 |
1,025,397 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 547,736 | 1,025,397 |
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 financial statements were approved by the members of the LLP and authorised for issue on |
Cooper Sons Hartley and Williams LLP (Registered number: OC427438) |
Notes to the Financial Statements |
for the period 1 January 2023 to 31 March 2024 |
1. | STATUTORY INFORMATION |
Cooper Sons Hartley and Williams 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 |
Turnover |
Turnover represents amounts chargeable to clients for professional services provided during the year, inclusive of direct expenses incurred on client assignments but excluding value added tax. |
Turnover is recognised when a right to consideration has been obtained through performance under each contract, and where it is probable that economic benefits will flow to the entity, and the amount can be measured reliably. |
Unbilled revenue is included in debtors within prepayments and accrued income. |
Goodwill |
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 |
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use. |
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: |
Fixtures & fittings - 20% straight line |
Computer equipment - 33% straight line |
Improvements to property - 10 year straight line |
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. |
Operating leases |
Rentals under operating leases are charged to the profit and loss account on a straight line basis over the lease term. |
Short term debtors and creditors |
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account. |
Cash and cash equivalents |
Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
Loans and borrowings |
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was |
Cooper Sons Hartley and Williams LLP (Registered number: OC427438) |
Notes to the Financial Statements - continued |
for the period 1 January 2023 to 31 March 2024 |
4. | INFORMATION IN RELATION TO MEMBERS |
Period |
1.1.23 |
to | Year Ended |
31.3.24 | 31.12.22 |
£ | £ |
Members' remuneration charged as an expense |
Partners' salaries | 732,476 | 614,521 |
5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2023 |
and 31 March 2024 |
AMORTISATION |
At 1 January 2023 |
Charge for period |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 December 2022 |
6. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 January 2023 |
Charge for period |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 December 2022 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Cooper Sons Hartley and Williams LLP (Registered number: OC427438) |
Notes to the Financial Statements - continued |
for the period 1 January 2023 to 31 March 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2022 |
£ | £ |
Bank loans |
10. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2022 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |