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REGISTERED NUMBER: OC352665 (England and Wales)















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: K H Sadiq
S R Sheppard





REGISTERED OFFICE: 34/46 Moorgate Street
ROTHERHAM
South Yorkshire
S60 2HB





REGISTERED NUMBER: OC352665 (England and Wales)





ACCOUNTANTS: Kingswood Allotts Limited
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 92,000 94,000
Investment property 5 77,500 77,500
169,500 171,500

CURRENT ASSETS
Debtors 1,836,929 1,938,373
Cash at bank and in hand 175,165 168,200
2,012,094 2,106,573
CREDITORS
Amounts falling due within one year 179,357 199,004
NET CURRENT ASSETS 1,832,737 1,907,569
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 40,000 40,000
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 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 30 April 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.

Oxley & Coward Solicitors LLP (Registered number: OC352665)

Abridged Balance Sheet - continued
30 April 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 Balance Sheet for the year ended 30 April 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 6 January 2025 and were signed by:





S R Sheppard - Designated member

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
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 as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Office improvements - 33% on cost
Fixtures and fittings - 33% on cost
Equipment - 33% on cost

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 40 (2023 - 41 ) .

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 655,626
DEPRECIATION
At 1 May 2023 561,626
Charge for year 2,000
At 30 April 2024 563,626
NET BOOK VALUE
At 30 April 2024 92,000
At 30 April 2023 94,000

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 77,500
NET BOOK VALUE
At 30 April 2024 77,500
At 30 April 2023 77,500

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 32,925 61,065
Between one and five years 1,879 29,721
34,804 90,786

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 40,000
At 30 April 2024 40,000

9. ULTIMATE CONTROLLING PARTY

The LLP is controlled by its members. No individual member has overall control.