Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31145truefalse2022-10-01Provision of legal services155falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC385119 2022-10-01 2024-03-31 OC385119 2021-10-01 2022-09-30 OC385119 2024-03-31 OC385119 2022-09-30 OC385119 c:Buildings 2022-10-01 2024-03-31 OC385119 c:Buildings 2024-03-31 OC385119 c:Buildings 2022-09-30 OC385119 c:Buildings c:OwnedOrFreeholdAssets 2022-10-01 2024-03-31 OC385119 c:Buildings c:LongLeaseholdAssets 2022-10-01 2024-03-31 OC385119 c:Buildings c:LongLeaseholdAssets 2024-03-31 OC385119 c:Buildings c:LongLeaseholdAssets 2022-09-30 OC385119 c:OfficeEquipment 2022-10-01 2024-03-31 OC385119 c:OfficeEquipment 2024-03-31 OC385119 c:OfficeEquipment 2022-09-30 OC385119 c:OfficeEquipment c:OwnedOrFreeholdAssets 2022-10-01 2024-03-31 OC385119 c:ComputerEquipment 2022-10-01 2024-03-31 OC385119 c:ComputerEquipment 2024-03-31 OC385119 c:ComputerEquipment 2022-09-30 OC385119 c:ComputerEquipment c:OwnedOrFreeholdAssets 2022-10-01 2024-03-31 OC385119 c:OwnedOrFreeholdAssets 2022-10-01 2024-03-31 OC385119 c:CurrentFinancialInstruments 2024-03-31 OC385119 c:CurrentFinancialInstruments 2022-09-30 OC385119 c:Non-currentFinancialInstruments 2024-03-31 OC385119 c:Non-currentFinancialInstruments 2022-09-30 OC385119 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC385119 c:CurrentFinancialInstruments c:WithinOneYear 2022-09-30 OC385119 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 OC385119 c:Non-currentFinancialInstruments c:AfterOneYear 2022-09-30 OC385119 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-03-31 OC385119 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2022-09-30 OC385119 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-03-31 OC385119 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2022-09-30 OC385119 d:FRS102 2022-10-01 2024-03-31 OC385119 d:AuditExempt-NoAccountantsReport 2022-10-01 2024-03-31 OC385119 d:FullAccounts 2022-10-01 2024-03-31 OC385119 d:LimitedLiabilityPartnershipLLP 2022-10-01 2024-03-31 OC385119 2 2022-10-01 2024-03-31 OC385119 d:PartnerLLP3 2022-10-01 2024-03-31 OC385119 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC385119 c:FurtherSpecificReserve3ComponentTotalEquity 2022-09-30 OC385119 e:PoundSterling 2022-10-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC385119










SPIRE SOLICITORS LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
SPIRE SOLICITORS LLP
REGISTERED NUMBER: OC385119

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

31 March
30 September
2024
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
647,307
551,377

  
647,307
551,377

Current assets
  

Debtors: amounts falling due within one year
 5 
3,796,576
3,011,391

Cash at bank and in hand
  
3,040
10,153

  
3,799,616
3,021,544

Creditors: Amounts Falling Due Within One Year
 6 
(2,752,225)
(1,614,319)

Net current assets
  
 
 
1,047,391
 
 
1,407,225

Total assets less current liabilities
  
1,694,698
1,958,602

Creditors: amounts falling due after more than one year
 7 
(376,407)
(842,549)

  
1,318,291
1,116,053

  

Net assets
  
1,318,291
1,116,053


Represented by:
  

Loans and other debts due to members within one year
  

Members' capital classified as a liability
  
1,000,000
800,000

Other amounts
 9 
318,291
316,053

  
1,318,291
1,116,053

  

  
1,318,291
1,116,053


Total members' interests
  

Loans and other debts due to members
 9 
1,318,291
1,116,053

  
1,318,291
1,116,053


Page 1

 
SPIRE SOLICITORS LLP
REGISTERED NUMBER: OC385119
    
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 income statement 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 by: 




S S Gosal
Designated member


Date: 17 October 2024

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

Spire 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

 
SPIRE SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

The entity is a Limited Liability Partnership incorporated in England and Wales. The address of its registered office is Holland Court, The Close, Norwich, Norfolk NR1 4DY. 

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

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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

Operating leases: the LLP as lessee

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

 
2.4

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.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
SPIRE SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

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

 
2.8

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.

 
2.9

Members' remuneration

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 automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .

  
2.10

Members' interest

Members subscribe capital to the LLP in accordance with amounts determined by the Members' Agreement. Members' capital may only be withdrawn when a member leaves the firm. On leaving the LLP, a member's capital is repaid by equal instalments over a period of 4 years, commencing 6 months after the date of retirement, with interest payable on the unpaid balance at a rate of 2% over the Bank of England base rate.

  
2.11

Taxation

The taxation payable on the LLP profits is the personal liability of the members, although payment of such liabilities is administered by the LLP on behalf of the members. Consequently, neither partnership taxation nor deferred taxation are accounted for in the financial statements.

Page 4

 
SPIRE SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.12

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.

At each reporting date the LLP assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Property improvements
-
10%
straight line
Office furniture and equipment
-
10%
staight line
Computer equipment
-
20%
straight line

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.

 
2.13

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.

 
2.14

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.

 
2.15

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.

  
2.16

Accrued income

Where there is a right to consideration, income is accrued at the carrying value of time recorded, less deductions for recovery rate.

Page 5

 
SPIRE SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

3.


Employees

The average monthly number of employees, including directors, during the period was 155 (2022 - 145).


4.


Tangible fixed assets







Property improvements
Leasehold property
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 October 2022
297,666
382,485
197,107
728,985
1,606,243


Additions
69,171
-
34,313
141,077
244,561



At 31 March 2024

366,837
382,485
231,420
870,062
1,850,804



Depreciation


At 1 October 2022
172,073
76,916
114,296
691,581
1,054,866


Charge for the period 
50,527
16,394
28,249
53,461
148,631



At 31 March 2024

222,600
93,310
142,545
745,042
1,203,497



Net book value



At 31 March 2024
144,237
289,175
88,875
125,020
647,307



At 30 September 2022
125,593
305,569
82,811
37,404
551,377

Page 6

 
SPIRE SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

5.


Debtors

31 March
30 September
2024
2022
£
£


Trade debtors
991,332
890,531

Amounts owed by former members
172
-

Other debtors
151,167
139,444

Prepayments
251,978
89,187

Accrued income
2,401,927
1,892,229

3,796,576
3,011,391



6.


Creditors: Amounts falling due within one year

31 March
30 September
2024
2022
£
£

Bank overdrafts
479,514
183,693

Bank loans
421,334
195,247

Other loans
326,890
224,322

Trade creditors
154,258
108,953

Amounts owed to former members
83,016
86,304

Other taxation and social security
474,770
455,519

Other creditors
180,974
156,618

Accruals and deferred income
631,469
203,663

2,752,225
1,614,319


The bank loans are secured by way of a debenture and legal charge over the property. 

Page 7

 
SPIRE SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due after more than one year

31 March
30 September
2024
2022
£
£

Bank loans
301,727
632,938

Amounts owed to former members
74,680
209,611

376,407
842,549


The bank loans are secured by way of a debenture and legal charge over the property. 


8.


Loans


Analysis of the maturity of loans is given below:


31 March
30 September
2024
2022
£
£

Amounts falling due within one year

Bank loans
421,334
195,247

Other loans
326,890
224,322


748,224
419,569

Amounts falling due 1-2 years

Bank loans
244,488
200,582


244,488
200,582

Amounts falling due 2-5 years

Bank loans
57,240
432,356


57,240
432,356


1,049,952
1,052,507


Page 8

 
SPIRE SOLICITORS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

9.


Loans and other debts due to members


31 March
30 September
2024
2022
£
£



Members' capital treated as debt
1,000,000
800,000

Other amounts due to members
318,291
316,053

1,318,291
1,116,053



All of these amounts fall due for payment within one year.
The members of the LLP have agreed that (a) loans and other debts due to members, (b) members' other interests (including capital and reserves) and (c) any members' residual interests will rank behind all amounts due to non members in the administration or winding up of the LLP. This agreement cannot be revoked by members and may be enforced by creditors.


10.Commitments, guarantees and contingencies

The company had total financial commitments, guarantees and contigencies which are not included in the balance sheet amounting to £340,102 (2022: £528,340).

 
Page 9