REGISTERED NUMBER: |
Oxley & Coward Solicitors LLP |
Unaudited Financial Statements For The Year Ended 30 April 2024 |
REGISTERED NUMBER: |
Oxley & Coward Solicitors LLP |
Unaudited Financial Statements For The Year Ended 30 April 2024 |
Oxley & Coward Solicitors LLP (Registered number: OC352665) |
Contents of the Financial Statements |
For The Year Ended 30 April 2024 |
Page |
General Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Oxley & Coward Solicitors LLP |
General Information |
For The Year Ended 30 April 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Sidings Court |
Lakeside |
Doncaster |
DN4 5NU |
Oxley & Coward Solicitors LLP (Registered number: OC352665) |
Abridged Balance Sheet |
30 April 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 2,002,237 | 2,079,069 |
LOANS AND OTHER DEBTS DUE TO MEMBERS | 7 | 1,962,237 | 2,039,069 |
MEMBERS' OTHER INTERESTS |
Revaluation reserve | 8 |
2,002,237 | 2,079,069 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 7 | 1,962,237 | 2,039,069 |
Members' other interests | 40,000 | 40,000 |
2,002,237 | 2,079,069 |
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. |
Oxley & Coward Solicitors LLP (Registered number: OC352665) |
Abridged Balance Sheet - continued |
30 April 2024 |
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 |
Oxley & Coward Solicitors LLP (Registered number: OC352665) |
Notes to the Financial Statements |
For The Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
Oxley & Coward Solicitors LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, net of VAT. When the outcome of a transaction can be estimated reliably, turnover is recognised by reference to the stage of completion at the balance sheet date. Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. |
Tangible fixed assets |
Freehold property | - |
Office improvements | - |
Fixtures and fittings | - |
Equipment | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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 stakeholder pension scheme. Contributions payable to the scheme are charged to the profit and loss account in the period to which they relate. |
Allocation of profits and drawings |
During the year the members set the level of profit allocations and members' monthly drawings after considering the LLP's working capital needs. To the extent that the profit allocations exceed drawings then the excess profit is included in the balance sheet under loans and other debts due to members. Where drawings exceed the allocated profits then the excess is included in debtors. |
Taxation |
The financial statements do no incorporate any charge or liability for taxation on the results of the LLP, as the relevant income tax is the responsibility of the individual members. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
Oxley & Coward Solicitors LLP (Registered number: OC352665) |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2024 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 May 2023 |
and 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Included in cost of land and buildings is freehold land of £ 20,000 (2023 - £ 20,000 ) which is not depreciated. |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2023 |
and 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Fair value at 30 April 2024 is represented by: |
£ |
Valuation in 2012 | 40,000 |
Cost | 37,500 |
77,500 |
The investment property was valued on an open market value basis on 30 April 2024 by the members . |
6. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
Oxley & Coward Solicitors LLP (Registered number: OC352665) |
Notes to the Financial Statements - continued |
For The Year Ended 30 April 2024 |
7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2024 | 2023 |
£ | £ |
Members' capital classified as a liability | 1,902,238 | 2,009,069 |
Undrawn profits | 30,000 | 30,000 |
1,962,238 | 2,039,069 |
In the event of winding up, amounts in 'Loans and other debts due to members' (other than members' capital classified as debt) would rank pari passu with unsecured creditors. No other protection is afforded to creditors in such an event which is legally enforceable and cannot be revoked solely by a decision of the members. |
There are no restrictions or limitations existing on the ability of the members to reduce the amount of 'Members' other interests'. |
8. | RESERVES |
Revaluation |
reserve |
£ |
At 1 May 2023 |
At 30 April 2024 |
9. | ULTIMATE CONTROLLING PARTY |