Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity78truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC350140 2023-04-01 2024-03-31 OC350140 2022-04-01 2023-03-31 OC350140 2024-03-31 OC350140 2023-03-31 OC350140 c:MotorVehicles 2023-04-01 2024-03-31 OC350140 c:MotorVehicles 2024-03-31 OC350140 c:MotorVehicles 2023-03-31 OC350140 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC350140 c:OfficeEquipment 2023-04-01 2024-03-31 OC350140 c:OfficeEquipment 2024-03-31 OC350140 c:OfficeEquipment 2023-03-31 OC350140 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC350140 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC350140 c:CurrentFinancialInstruments 2024-03-31 OC350140 c:CurrentFinancialInstruments 2023-03-31 OC350140 c:CurrentFinancialInstruments 2 2024-03-31 OC350140 c:CurrentFinancialInstruments 2 2023-03-31 OC350140 c:Non-currentFinancialInstruments 2024-03-31 OC350140 c:Non-currentFinancialInstruments 2023-03-31 OC350140 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC350140 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC350140 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 OC350140 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 OC350140 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-03-31 OC350140 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-03-31 OC350140 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-03-31 OC350140 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-03-31 OC350140 e:FRS102 2023-04-01 2024-03-31 OC350140 e:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC350140 e:FullAccounts 2023-04-01 2024-03-31 OC350140 e:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC350140 e:PartnerLLP1 2023-04-01 2024-03-31 OC350140 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC350140 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC350140 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC350140 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC350140 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC350140










LEVALES SOLICITORS LLP








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
LEVALES SOLICITORS LLP
REGISTERED NUMBER: OC350140

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
37,699
13,116

  
37,699
13,116

Current assets
  

Stocks
  
202,508
407,864

Debtors: amounts falling due within one year
 5 
157,904
122,246

Cash at bank and in hand
  
157,124
7,532

  
517,536
537,642

Creditors: Amounts Falling Due Within One Year
 6 
(223,164)
(85,587)

Net current assets
  
 
 
294,372
 
 
452,055

Total assets less current liabilities
  
332,071
465,171

Creditors: amounts falling due after more than one year
 7 
(83,063)
(109,535)

  
249,008
355,636

  

Net assets
  
249,008
355,636


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 9 
185,256
291,884

  
185,256
291,884

Members' other interests
  

Members' capital classified as equity
  
63,752
63,752

  
 
63,752
 
63,752

  
249,008
355,636


Total members' interests
  

Amounts due from members (included in debtors)
 5 
(39,404)
(45,414)

Loans and other debts due to members
 9 
185,256
291,884

Members' other interests
  
63,752
63,752

  
209,604
310,222


Page 1

 
LEVALES SOLICITORS LLP
REGISTERED NUMBER: OC350140
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

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

The entity 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.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

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

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 15 November 2024.




D C Pettifer
Designated member

The notes on pages 3 to 9 form part of these financial statements.

Levales Solicitors LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

Page 2

 
LEVALES SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Levales Solicitors LLP (OC350140), is a limited liability partnership. Its registered office is Unit 1, 378 - 380 Vale Road, Ash Vale, Aldershot, Hampshire, GU12 5NJ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Leased assets: the LLP as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

Page 3

 
LEVALES SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The LLP operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the LLP in independently administered funds.

 
2.7

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits both automatically and discretionarily. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense' in the Statement of comprehensive income.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25% reducing balance
Office equipment
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
LEVALES SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The LLP's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the LLP after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is
Page 5

 
LEVALES SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.12
Financial instruments (continued)

due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 8).


4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
22,499
20,086
42,585


Additions
39,941
-
39,941


Disposals
(22,499)
-
(22,499)



At 31 March 2024

39,941
20,086
60,027



Depreciation


At 1 April 2023
15,381
14,088
29,469


Charge for the year on owned assets
6,740
1,499
8,239


Disposals
(15,380)
-
(15,380)



At 31 March 2024

6,741
15,587
22,328



Net book value



At 31 March 2024
33,200
4,499
37,699



At 31 March 2023
7,118
5,998
13,116

Page 6

 
LEVALES SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
107,980
69,845

Other debtors
4,289
997

Prepayments & accrued income
6,231
5,990

Amounts due from members
39,404
45,417

157,904
122,249



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Other loans
36,736
33,222

Trade creditors
1,180
-

Other taxation and social security
78,458
17,522

Obligations under finance lease and hire purchase contracts
714
-

Other creditors
80,734
8,954

Accruals and deferred income
15,342
15,889

223,164
85,587



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
15,000
25,000

Other loans
47,800
84,535

Net obligations under finance leases and hire purchase contracts
20,263
-

83,063
109,535


Page 7

 
LEVALES SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000

Other loans
36,736
33,222

Amounts falling due 1-2 years

Bank loans
10,000
10,000

Other loans
40,623
36,736

Amounts falling due 2-5 years

Bank loans
5,000
15,000

Other loans
7,176
47,799


109,535
152,757



9.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
185,256
291,884

185,256
291,884

Loans and other debts due to members may be further analysed as follows:

2024
2023
£
£



Falling due within one year
185,256
291,884

185,256
291,884

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

Page 8

 
LEVALES SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Pension commitments

The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity in an independently administered fund. The pension cost charge represents contributions payable by the entity to the fund and amounted to £3,450 (2023 - £10,525). Contributions totalling £1,001 (2023 - £952) were payable to the fund at the reporting date and are included in creditors.


11.


Controlling party

During the year the LLP was under the control of D C Pettifer.
 
Page 9