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REGISTERED NUMBER: OC316529 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

FIONA BRUCE & CO LLP

FIONA BRUCE & CO LLP (REGISTERED NUMBER: OC316529)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

General Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


FIONA BRUCE & CO LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: Mrs F Bruce
S Gray
P Porter





REGISTERED OFFICE: Justice House
3 Grappenhall Road
Stockton Heath
Warrington
Cheshire
WA4 2AH





REGISTERED NUMBER: OC316529 (England and Wales)





ACCOUNTANTS: Mattocks Grindley
18 Mulberry Avenue
Turnstone Park
Widnes
Cheshire
WA8 0WN

FIONA BRUCE & CO LLP (REGISTERED NUMBER: OC316529)

ABRIDGED BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,349 19,948

CURRENT ASSETS
Debtors 517,308 415,124
Cash at bank and in hand 1,197,959 1,029,136
1,715,267 1,444,260
CREDITORS
Amounts falling due within one year 371,034 277,783
NET CURRENT ASSETS 1,344,233 1,166,477
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO MEMBERS 1,367,582 1,186,425

LOANS AND OTHER DEBTS DUE TO
MEMBERS

5

1,367,582

1,186,425

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 5 1,367,582 1,186,425

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.

FIONA BRUCE & CO LLP (REGISTERED NUMBER: OC316529)

ABRIDGED 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

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 3 September 2024 and were signed by:




S Gray - Designated member




P Porter - Designated member


FIONA BRUCE & CO LLP (REGISTERED NUMBER: OC316529)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Fiona Bruce & Co 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
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.

Turnover
Turnover is measured at the fair value of legal services provided during the year. Fair value reflects the amount expected to be recoverable from clients and is based on time spent and expenses incurred. Fee income is stated net of Value Added Tax.

Legal services provided to clients during the year which, at the balance sheet date, have not been invoiced to clients, have been recognised as fee income in accordance with Section 23 Revenue of Financial Reporting Standard 102. Fee income recognised in this manner is based on an assessment of the fair value of the services provided by the balance sheet date as a proportion of the total value of the engagement.

Unbilled fee income is included as accounts recoverable on contracts within debtors. Amounts recoverable on contracts are stated at fair value where the right to consideration has been obtained. Provision is made against unbilled amounts on those engagements where the right to receive payments is contingent on factors outside the control of the Partnership. Contingent fee income (over and above any agreed minimum fee which is recognised as above) is recognised in the period when the contingent event occurs.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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

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.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 28 (2023 - 28 ) .

FIONA BRUCE & CO LLP (REGISTERED NUMBER: OC316529)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 303,075
Additions 11,190
At 31 March 2024 314,265
DEPRECIATION
At 1 April 2023 283,127
Charge for year 7,789
At 31 March 2024 290,916
NET BOOK VALUE
At 31 March 2024 23,349
At 31 March 2023 19,948

5. LOANS AND OTHER DEBTS DUE TO MEMBERS
31.3.24 31.3.23
as restated
£    £   
Amounts owed to members in respect of profits 1,367,582 1,186,425

Falling due within one year 1,367,582 1,186,425

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