Nalders LLP OC354499 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is provision of legal services. Digita Accounts Production Advanced 6.30.9574.0 OC354499 2023-05-01 2024-04-30 OC354499 2024-04-30 OC354499 core:CurrentFinancialInstruments 2024-04-30 OC354499 core:FurnitureFittings 2024-04-30 OC354499 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-30 OC354499 core:MotorVehicles 2024-04-30 OC354499 core:OfficeEquipment 2024-04-30 OC354499 bus:SmallEntities 2023-05-01 2024-04-30 OC354499 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 OC354499 bus:FullAccounts 2023-05-01 2024-04-30 OC354499 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 OC354499 bus:PartnerLLP4 2023-05-01 2024-04-30 OC354499 bus:LimitedLiabilityPartnershipLLP 2023-05-01 2024-04-30 OC354499 core:FurnitureFittings 2023-05-01 2024-04-30 OC354499 core:LandBuildings 2023-05-01 2024-04-30 OC354499 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 OC354499 core:MotorVehicles 2023-05-01 2024-04-30 OC354499 core:OfficeEquipment 2023-05-01 2024-04-30 OC354499 countries:AllCountries 2023-05-01 2024-04-30 OC354499 2023-04-30 OC354499 core:FurnitureFittings 2023-04-30 OC354499 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 OC354499 core:MotorVehicles 2023-04-30 OC354499 core:OfficeEquipment 2023-04-30 OC354499 2022-05-01 2023-04-30 OC354499 2023-04-30 OC354499 core:CurrentFinancialInstruments 2023-04-30 OC354499 core:FurnitureFittings 2023-04-30 OC354499 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 OC354499 core:MotorVehicles 2023-04-30 OC354499 core:OfficeEquipment 2023-04-30 iso4217:GBP xbrli:pure

Nalders LLP

Annual Report and Unaudited Financial Statements
Year Ended 30 April 2024

Registration number: OC354499

 

Nalders LLP

Contents

Financial Statements

1 to 7

Balance Sheet

1

Notes to the Financial Statements

3

 

Nalders LLP

Balance Sheet

30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

345,865

288,005

Current assets

 

Debtors

5

2,721,950

3,211,409

Cash and short-term deposits

 

1,387,789

1,686,535

 

4,109,739

4,897,944

Creditors: Amounts falling due within one year

6

(2,006,001)

(1,545,614)

Net current assets

 

2,103,738

3,352,330

Total assets less current liabilities

 

2,449,603

3,640,335

Provisions for liabilities

(748,000)

(267,492)

Net assets attributable to members

 

1,701,603

3,372,843

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

800,000

863,500

Other amounts

901,603

2,509,343

 

1,701,603

3,372,843

   

1,701,603

3,372,843

Total members' interests

 

Loans and other debts due to members

 

1,701,603

3,372,843

   

1,701,603

3,372,843

 

Nalders LLP

Balance Sheet

30 April 2024

For the year ending 30 April 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, as applied to limited liability partnerships.

These financial statements have been prepared and delivered in accordance with the special provisions within Part 15 of the Companies Act 2006 as applied to small limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 as modified by the Small Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016, and the option not to file the Profit and Loss Account has been taken.

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

The financial statements of Nalders LLP (registered number OC354499) were approved by the members and authorised for issue on 18 December 2024. They were signed on behalf of the limited liability partnership by:

.........................................
D W Band
Designated member

 

Nalders LLP

Notes to the Financial Statements

Year Ended 30 April 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover represents the right to consideration earned for the provision of legal services excluding VAT. All turnover derives from activities in the UK.

Services provided to clients during the period which at the balance sheet date, have not been invoiced to clients, have been recognised in turnover in accordance with applicable Accounting Standards and UK GAAP.

Turnover recognised is based on an assessment of the fair value of services provided by the balance sheet date as a proportion of the total value of the engagement. Revenue is not recognised on those engagements where the right to receive payment is contingent on factors outside the control of the LLP. Unbilled revenue is included within debtors.

Members' remuneration and division of profits

Profits are automatically allocated to members. They are therefore shown as "Members' remuneration charged as an expense" in the Profit and Loss Account in the relevant year. To the extent that they remain unpaid at the year end, they are included within "loans and other debts due to members" in the Balance Sheet.

Unallocated profits and losses are included within Other Reserves.

 

Nalders LLP

Notes to the Financial Statements

Year Ended 30 April 2024

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

other taxes policy

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Land and buildings

Nil

Fixtures and fittings

15% straight line basis

Office equipment

15% straight line basis

Motor vehicles

20% straight line basis

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the limited liability partnership has an obligation at the reporting date as a result of a past event, it is probable that the limited liability partnership will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

Nalders LLP

Notes to the Financial Statements

Year Ended 30 April 2024

Pensions and other post retirement obligations

The partnership operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Financial instruments

Classification

Financial instruments are recognised when the LLP becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cashflows from the asset expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the LLP's obligations are discharged, expire or are cancelled.

The LLP holds the following financial instruments, all of which meet the conditions to be classified as basic instruments:

Bank loans
Short term debtors and creditors

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment judgements.

2

Profit for the year before members' remuneration and profit shares

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation

57,192

43,586

3

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 107 (2023 - 103).

 

Nalders LLP

Notes to the Financial Statements

Year Ended 30 April 2024

4

Tangible fixed assets

Freehold land and buildings
£

Fixtures and fittings
 £

Motor vehicles
 £

Office equipment
 £

Total
£

Cost

At 1 May 2023

180,000

135,401

26,542

1,117,949

1,459,892

Additions

-

9,477

-

105,575

115,052

At 30 April 2024

180,000

144,878

26,542

1,223,524

1,574,944

Depreciation

At 1 May 2023

-

116,903

10,616

1,044,368

1,171,887

Charge for the year

-

6,954

5,308

44,930

57,192

At 30 April 2024

-

123,857

15,924

1,089,298

1,229,079

Net book value

At 30 April 2024

180,000

21,021

10,618

134,226

345,865

At 30 April 2023

180,000

18,498

15,926

73,581

288,005

 

Nalders LLP

Notes to the Financial Statements

Year Ended 30 April 2024

5

Debtors

2024
£

2023
£

Trade debtors

868,748

996,996

Other debtors

1,560,095

1,928,319

Prepayments

293,107

286,094

Total current trade and other debtors

2,721,950

3,211,409

6

Creditors: Amounts falling due within one year

2024
 £

2023
 £

Trade creditors

387,532

369,709

Taxation and social security

412,736

446,113

Other creditors

419,380

135,900

Accruals and deferred income

786,353

593,892

2,006,001

1,545,614

Capital loans and other debts due to members rank pari passu with creditors, in accordance with the members' agreement. There are no restrictions on the members' ability to reduce the amount of members' other interests.

7

Control

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.