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REGISTERED NUMBER: OC300127 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Paul Robinson Solicitors LLP

Paul Robinson Solicitors LLP (Registered number: OC300127)






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




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Paul Robinson Solicitors LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: S.P. Robinson
M Deans





REGISTERED OFFICE: The Old Bank
470-474 London Road
Westcliff-On-Sea
Essex
SS0 9LD





REGISTERED NUMBER: OC300127 (England and Wales)





ACCOUNTANTS: Anser Solutions!
Chartered Accountants
Suite 1
19 Aviation Way
Southend Airport
Southend on Sea
Essex
SS2 6UN

Paul Robinson Solicitors LLP (Registered number: OC300127)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 397,466 456,560

CURRENT ASSETS
Debtors 5 3,867,538 3,418,776
Cash at bank and in hand 439 322
3,867,977 3,419,098
CREDITORS
Amounts falling due within one year 6 2,939,214 2,663,989
NET CURRENT ASSETS 928,763 755,109
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,326,229

1,211,669

CREDITORS
Amounts falling due after more than one
year

7

327,965

186,653
NET ASSETS ATTRIBUTABLE TO
MEMBERS

998,264

1,025,016

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

248,264

282,516

MEMBERS' OTHER INTERESTS
Capital accounts 750,000 742,500
998,264 1,025,016

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 248,264 282,516
Members' other interests 750,000 742,500
Amounts due from members 5 (118,060 ) (70,462 )
880,204 954,554

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.

Paul Robinson Solicitors LLP (Registered number: OC300127)

Balance Sheet - continued
31 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 16 July 2024 and were signed by:





S.P. Robinson - Designated member

Paul Robinson Solicitors LLP (Registered number: OC300127)

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

1. STATUTORY INFORMATION

Paul Robinson Solicitors LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover represents the value of professional services provided to clients under contractual obligations, excluding value added tax. Uncompleted contracts at the balance sheet date are brought into account with reference to the value of work performed and are described in the accounts as 'Accrued Income'.

Revenue in respect of conditional or contingent contracts is only recognised when entitlement to income arises.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to leasehold property - Over period of lease
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Paul Robinson Solicitors LLP (Registered number: OC300127)

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

2. ACCOUNTING POLICIES - continued

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.

Taxation
Members are personally liable for taxation on their share of profits of the LLP. Consequently no reserve for taxation is made in the financial statements in respect of Members' tax liabilities, and the profits are shown within Members' interests or 'Loans and Other Debts due to Members' without any deduction for tax.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 150 (2023 - 148 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 348,922 681,611 147,784 255,676 1,433,993
Additions - 12,607 - 34,911 47,518
Disposals - - - (28,247 ) (28,247 )
At 31 March 2024 348,922 694,218 147,784 262,340 1,453,264
DEPRECIATION
At 1 April 2023 159,854 532,422 144,095 141,062 977,433
Charge for year 27,706 39,021 738 34,942 102,407
Eliminated on disposal - - - (24,042 ) (24,042 )
At 31 March 2024 187,560 571,443 144,833 151,962 1,055,798
NET BOOK VALUE
At 31 March 2024 161,362 122,775 2,951 110,378 397,466
At 31 March 2023 189,068 149,189 3,689 114,614 456,560

Paul Robinson Solicitors LLP (Registered number: OC300127)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 255,676
Additions 34,911
Disposals (28,247 )
At 31 March 2024 262,340
DEPRECIATION
At 1 April 2023 141,062
Charge for year 34,942
Eliminated on disposal (24,042 )
At 31 March 2024 151,962
NET BOOK VALUE
At 31 March 2024 110,378
At 31 March 2023 114,614

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,041,974 924,790
Amounts due from members 118,060 70,462
Other debtors 43,411 34,341
Accrued income 1,877,701 1,774,638
Prepayments 786,392 614,545
3,867,538 3,418,776

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 827,103 688,275
Other loans 1,170,941 1,094,316
Hire purchase contracts 24,065 33,137
Trade creditors 176,426 161,818
Social security and other taxes 130,356 137,806
Value added tax 422,031 396,858
Other creditors 60,027 31,929
Pension control 31,766 31,807
Accrued expenses 96,499 88,043
2,939,214 2,663,989

Paul Robinson Solicitors LLP (Registered number: OC300127)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 2-5 years 311,389 164,850
Hire purchase contracts 16,576 21,803
327,965 186,653

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank overdrafts 505,586 572,666
Bank loans 632,906 280,459
Hire purchase contracts 40,641 54,940
1,179,133 908,065

The Barclays bank loans and overdraft are secured by an updated debenture registered on 22nd July 2022 in favour of Barclays Bank PLC. In addition S P Robinson, M S Deans and F Colwell have provided personal guarantees limited to £400,000 to Barclays Bank Plc. In addition C Wall and A McClintock have provided personal guarantees of £50,000 each.

9. LOANS AND OTHER DEBTS DUE TO MEMBERS
31.3.24 31.3.23
£    £   
Amounts owed to members in respect of profits 248,264 282,516

Falling due within one year 248,264 282,516

The capital (whether classified as a liability or equity) of the LLP may be reduced by agreement of the members either by repayment or by the conversion of equity capital into liability capital or other debt. In the absence of agreement to the contrary, unsecured debt due to members will rank equally with debts due to other unsecured creditors in a winding up.

10. OTHER FINANCIAL COMMITMENTS

At 31st March 2024, the LLP had total commitments under non cancellable operating leases over the remaining life of those leases of £21,522 (2023:£75,556).

11. RELATED PARTY DISCLOSURES

Office premises and storage
The LLP occupies properties owned by Members and their families. During the year the LLP paid rent of
£260,299 (2023: £267,644) to Members and their families.

12. ULTIMATE CONTROLLING PARTY

During the year Mr S P Robinson was the ultimate controlling party of the LLP.