Acorah Software Products - Accounts Production 16.1.200 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 OC385145 Mr Michael Labrum Ms Steffi Eschenburg iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC385145 2023-03-31 OC385145 2024-03-31 OC385145 2023-04-01 2024-03-31 OC385145 frs-core:CurrentFinancialInstruments 2024-03-31 OC385145 frs-core:Non-currentFinancialInstruments 2024-03-31 OC385145 frs-core:PlantMachinery 2024-03-31 OC385145 frs-core:PlantMachinery 2023-04-01 2024-03-31 OC385145 frs-core:PlantMachinery 2023-03-31 OC385145 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC385145 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-01 2024-03-31 OC385145 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 OC385145 frs-bus:SmallEntities 2023-04-01 2024-03-31 OC385145 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC385145 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC385145 frs-countries:EnglandWales 2023-04-01 2024-03-31 OC385145 frs-bus:PartnerLLP1 2023-04-01 2024-03-31 OC385145 frs-bus:PartnerLLP2 2023-04-01 2024-03-31 OC385145 2022-03-31 OC385145 2023-03-31 OC385145 2022-04-01 2023-03-31 OC385145 frs-core:CurrentFinancialInstruments 2023-03-31 OC385145 frs-core:Non-currentFinancialInstruments 2023-03-31
Registered number: OC385145
Labrums Solicitors LLP
Unaudited Financial Statements
For The Year Ended 31 March 2024
Flola Accountancy Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC385145
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 19,411 20,724
19,411 20,724
CURRENT ASSETS
Stocks 321,600 386,600
Debtors 5 364,419 320,881
Cash at bank and in hand 37,831 54,202
723,850 761,683
Creditors: Amounts Falling Due Within One Year 6 (186,215 ) (95,441 )
NET CURRENT ASSETS (LIABILITIES) 537,635 666,242
TOTAL ASSETS LESS CURRENT LIABILITIES 557,046 686,966
Creditors: Amounts Falling Due After More Than One Year 7 (365,068 ) (465,037 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 191,978 221,929
REPRESENTED BY:
Loans and other debts due to members
Other amounts 191,978 221,929
191,978 221,929
191,978 221,929
TOTAL MEMBERS' INTEREST
Loans and other debts due to members 191,978 221,929
191,978 221,929
Page 1
Page 2
For the year ending 31 March 2024 the LLP 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 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Mr Michael Labrum
Designated Member
20/12/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Labrums Solicitors LLP is a limited liability partnership, incorporated in England & Wales, registered number OC385145 . The Registered Office is New Barnes Mill, Cottonmill Lane, St Albans, Hertfordshire, AL1 2HA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery Over 5 years
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Division of Profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
2.6. Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2.7. Members' Capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 18 (2023: 16)
18 16
Page 3
Page 4
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2023 125,881
Additions 3,582
As at 31 March 2024 129,463
Depreciation
As at 1 April 2023 105,157
Provided during the period 4,895
As at 31 March 2024 110,052
Net Book Value
As at 31 March 2024 19,411
As at 1 April 2023 20,724
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 360,856 317,318
Other debtors 3,563 3,563
364,419 320,881
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 18,367 21,353
Bank loans and overdrafts 95,327 18,230
Other loans 11,125 9,790
Other creditors 8,192 2,118
Taxation and social security 53,204 43,950
186,215 95,441
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 9,474 105,443
Other creditors 355,594 359,594
365,068 465,037
Page 4