Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-04-01Legal Services2618truetruefalse OC360876 2023-04-01 2024-03-31 OC360876 2022-04-01 2023-03-31 OC360876 2024-03-31 OC360876 2023-03-31 OC360876 c:Buildings c:LongLeaseholdAssets 2023-04-01 2024-03-31 OC360876 c:Buildings c:LongLeaseholdAssets 2024-03-31 OC360876 c:Buildings c:LongLeaseholdAssets 2023-03-31 OC360876 c:PlantMachinery 2023-04-01 2024-03-31 OC360876 c:PlantMachinery 2024-03-31 OC360876 c:PlantMachinery 2023-03-31 OC360876 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC360876 c:OfficeEquipment 2023-04-01 2024-03-31 OC360876 c:OfficeEquipment 2024-03-31 OC360876 c:OfficeEquipment 2023-03-31 OC360876 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC360876 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC360876 c:CurrentFinancialInstruments 2024-03-31 OC360876 c:CurrentFinancialInstruments 2023-03-31 OC360876 c:CurrentFinancialInstruments 2 2024-03-31 OC360876 c:CurrentFinancialInstruments 2 2023-03-31 OC360876 c:Non-currentFinancialInstruments 2024-03-31 OC360876 c:Non-currentFinancialInstruments 2023-03-31 OC360876 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC360876 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC360876 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 OC360876 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 OC360876 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-03-31 OC360876 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-03-31 OC360876 e:FRS102 2023-04-01 2024-03-31 OC360876 e:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC360876 e:FullAccounts 2023-04-01 2024-03-31 OC360876 e:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC360876 c:WithinOneYear 2024-03-31 OC360876 c:WithinOneYear 2023-03-31 OC360876 c:BetweenOneFiveYears 2024-03-31 OC360876 c:BetweenOneFiveYears 2023-03-31 OC360876 1 2023-04-01 2024-03-31 OC360876 2 2023-04-01 2024-03-31 OC360876 e:PartnerLLP1 2023-04-01 2024-03-31 OC360876 e:PartnerLLP2 2023-04-01 2024-03-31 OC360876 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC360876 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC360876 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC360876










BURLINGTONS LEGAL LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
BURLINGTONS LEGAL LLP
REGISTERED NUMBER:OC360876

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
39,248
44,125

  
39,248
44,125

Current assets
  

Debtors: amounts falling due within one year
 5 
4,670,646
2,881,479

Cash at bank and in hand
 6 
582,524
49,549

  
5,253,170
2,931,028

Creditors: Amounts Falling Due Within One Year
 7 
(4,706,537)
(2,521,915)

Net current assets
  
 
 
546,633
 
 
409,113

Total assets less current liabilities
  
585,881
453,238

Creditors: amounts falling due after more than one year
 8 
(430,044)
(371,051)

  
155,837
82,187

  

Net assets
  
155,837
82,187


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 10 
155,837
82,187

  
155,837
82,187

  

  
155,837
82,187


Total members' interests
  

Amounts due from members (included in debtors)
 5 
(488,175)
(650,524)

Loans and other debts due to members
 10 
155,837
82,187

  
(332,338)
(568,337)


Page 1

 
BURLINGTONS LEGAL LLP
REGISTERED NUMBER:OC360876
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity 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.

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

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the profit and loss account in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 22 January 2025.




Deborah Mills
Andrew Pike
Designated member
Designated member

Burlingtons Legal LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.

Page 2

 
BURLINGTONS LEGAL LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Burlingtons LLP is registered in England and Wales, registration number OC360876. The address of the registered office is 5 Stratford Place, London, W1C 1AX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The LLP's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
BURLINGTONS LEGAL LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the LLP as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Leased assets: the LLP as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.6

Sale and leaseback

Where a sale and leaseback transaction results in a finance lease, no gain is immediately recognised for any excess of sales proceeds over the carrying amount of the asset. Instead, the proceeds are presented as a liability and subsequently measured at amortised cost using the effective interest method.
When a sale and leaseback transaction results in an operating lease, and it is clear that the transition is established at fair value any profit or loss is recognised immediately. If the sale price is below fair value, any profit or loss is recognised immediately unless the loss is compensated for by the future lease payments at below market price. In that case any such loss is amortised in proportion to the lease payments over the period for which the asset is expected to be used. If the sale price is above fair value, the excess over fair value is amortised over the period for which the asset is expected to be used.

Page 4

 
BURLINGTONS LEGAL LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.10

Pensions

Defined contribution pension plan

The LLP operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the LLP in independently administered funds.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
10%
Straight line
Plant and machinery
-
20%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
BURLINGTONS LEGAL LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

  
2.12

Impairment of fixed ssets

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 26 (2023 - 18).

Page 6

 
BURLINGTONS LEGAL LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
118,784
131,223
454,003
704,010


Additions
-
9,184
-
9,184



At 31 March 2024

118,784
140,407
454,003
713,194



Depreciation


At 1 April 2023
87,332
118,550
454,003
659,885


Charge for the year on owned assets
7,784
6,277
-
14,061



At 31 March 2024

95,116
124,827
454,003
673,946



Net book value



At 31 March 2024
23,668
15,580
-
39,248



At 31 March 2023
31,452
12,673
-
44,125

Page 7

 
BURLINGTONS LEGAL LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
3,071,851
1,709,675

Other debtors
728,830
144,200

Prepayments and accrued income
381,790
377,080

Amounts due from members
488,175
650,524

4,670,646
2,881,479



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
582,524
49,549

Less: bank overdrafts
(6)
(248)

582,518
49,301



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
6
248

Other loans
1,273,376
566,150

Trade creditors
2,137,023
1,497,061

Other taxation and social security
97,029
124,549

Other creditors
-
134,473

Accruals and deferred income
1,199,103
199,434

4,706,537
2,521,915



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
430,044
371,051

430,044
371,051


Page 8

 
BURLINGTONS LEGAL LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Other loans
1,273,376
566,150

Amounts falling due 1-2 years

Other loans
430,044
371,051



1,703,420
937,201


Loans secured over the LLP's assets totalled £145,833 (2023 - £227,664).


10.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
155,837
82,187

155,837
82,187

Loans and other debts due to members may be further analysed as follows:

2024
2023
£
£



Falling due within one year
155,837
82,187

155,837
82,187

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


11.


Pension commitments

The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity  in an independently administered fund. The pension cost charge represents contributions payable by the entity  to the fund and amounted to £21,156 (2023: £14.951). Contributions totalling £5,748 (2023: £3,493) were payable to the fund at the balance sheet date and are included in creditors.

Page 9

 
BURLINGTONS LEGAL LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Commitments under operating leases

At 31 March 2024 the LLP had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
342,368
271,041

Later than 1 year and not later than 5 years
798,859
1,141,227

1,141,227
1,412,268


13.


Related party transactions

Included in debtors is £500,828 (2023: £105,783 due to) due from a related entity. Within admin expenses the company was charged £42,547 (2023: £46,044) for IT services and £180,000 (2023: £Nil) for management charges by a related entity.

 
Page 10