REGISTERED NUMBER: |
WILDINGS SOLICITORS LLP |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 MARCH 2024 |
REGISTERED NUMBER: |
WILDINGS SOLICITORS LLP |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 MARCH 2024 |
WILDINGS SOLICITORS LLP (REGISTERED NUMBER: OC360274) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 MARCH 2024 |
Page |
General Information | 1 |
Report of the Members | 2 |
Profit and Loss Account | 4 |
Balance Sheet | 5 |
Notes to the Financial Statements | 7 |
WILDINGS SOLICITORS LLP |
GENERAL INFORMATION |
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 MARCH 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
9-11 Vittoria Street |
Birmingham |
B1 3ND |
WILDINGS SOLICITORS LLP (REGISTERED NUMBER: OC360274) |
REPORT OF THE MEMBERS |
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 MARCH 2024 |
The members present their report with the financial statements of the LLP for the period 1 November 2023 to 31 March 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the period under review was that of a firm of solicitors. |
DESIGNATED MEMBERS |
The designated members during the period under review were: |
RESULTS FOR THE PERIOD AND ALLOCATION TO MEMBERS |
The profit for the period before members' remuneration and profit shares was £22,168 (2023 - £258,859 profit). |
MEMBERS' INTERESTS |
STATEMENT OF MEMBERS' RESPONSIBILITIES |
The members are responsible for preparing the Report of the Members and the financial statements in accordance with applicable law and regulations. |
Legislation applicable to limited liability partnerships requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under legislation applicable to limited liability partnerships the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period. In preparing these financial statements, the members are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business. |
WILDINGS SOLICITORS LLP (REGISTERED NUMBER: OC360274) |
REPORT OF THE MEMBERS |
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 MARCH 2024 |
The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
ON BEHALF OF THE MEMBERS: |
WILDINGS SOLICITORS LLP (REGISTERED NUMBER: OC360274) |
PROFIT AND LOSS ACCOUNT |
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 MARCH 2024 |
Period |
1.11.23 |
to | Year Ended |
31.3.24 | 31.10.23 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
OPERATING PROFIT | 4 |
Interest receivable and similar income |
25,094 | 263,598 |
Interest payable and similar expenses |
PROFIT FOR THE FINANCIAL PERIOD BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD |
WILDINGS SOLICITORS LLP (REGISTERED NUMBER: OC360274) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
20,641 |
51,374 |
WILDINGS SOLICITORS LLP (REGISTERED NUMBER: OC360274) |
BALANCE SHEET - continued |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
10 |
20,641 |
51,374 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 10 | 20,641 | 51,374 |
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. |
The financial statements were approved by the members of the LLP and authorised for issue on |
WILDINGS SOLICITORS LLP (REGISTERED NUMBER: OC360274) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Wildings 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. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Fixtures and fittings | - |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was |
WILDINGS SOLICITORS LLP (REGISTERED NUMBER: OC360274) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 MARCH 2024 |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
Period |
1.11.23 |
to | Year Ended |
31.3.24 | 31.10.23 |
£ | £ |
Depreciation - owned assets |
5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 November 2023 |
and 31 March 2024 |
AMORTISATION |
At 1 November 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 October 2023 |
WILDINGS SOLICITORS LLP (REGISTERED NUMBER: OC360274) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 MARCH 2024 |
6. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 November 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 November 2023 |
Charge for period |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 October 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Prepayments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors & accruals |
Social security and other taxes |
VAT | 22,849 | 39,759 |
Other creditors |
Amounts owed to clients | 2,200,644 | 1,089,458 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans - 1-2 years |
WILDINGS SOLICITORS LLP (REGISTERED NUMBER: OC360274) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 MARCH 2024 |
10. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2024 | 2023 |
£ | £ |
Amounts owed to members in respect of profits | 20,641 | 51,374 |
Falling due within one year | 20,641 | 51,374 |
Loan balances are paid to members after all other liabilities of the company have been settled. |