Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-312023-08-01falseSolicitors3032falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC356132 2023-08-01 2024-07-31 OC356132 2022-08-01 2023-07-31 OC356132 2024-07-31 OC356132 2023-07-31 OC356132 c:Buildings c:ShortLeaseholdAssets 2023-08-01 2024-07-31 OC356132 c:Buildings c:ShortLeaseholdAssets 2024-07-31 OC356132 c:Buildings c:ShortLeaseholdAssets 2023-07-31 OC356132 c:FurnitureFittings 2023-08-01 2024-07-31 OC356132 c:FurnitureFittings 2024-07-31 OC356132 c:FurnitureFittings 2023-07-31 OC356132 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 OC356132 c:OfficeEquipment 2023-08-01 2024-07-31 OC356132 c:OtherPropertyPlantEquipment 2023-08-01 2024-07-31 OC356132 c:OtherPropertyPlantEquipment 2024-07-31 OC356132 c:OtherPropertyPlantEquipment 2023-07-31 OC356132 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 OC356132 c:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 OC356132 c:CurrentFinancialInstruments 2024-07-31 OC356132 c:CurrentFinancialInstruments 2023-07-31 OC356132 c:CurrentFinancialInstruments c:WithinOneYear 2024-07-31 OC356132 c:CurrentFinancialInstruments c:WithinOneYear 2023-07-31 OC356132 d:FRS102 2023-08-01 2024-07-31 OC356132 d:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 OC356132 d:FullAccounts 2023-08-01 2024-07-31 OC356132 d:LimitedLiabilityPartnershipLLP 2023-08-01 2024-07-31 OC356132 2 2023-08-01 2024-07-31 OC356132 d:PartnerLLP1 2023-08-01 2024-07-31 OC356132 d:PartnerLLP3 2023-08-01 2024-07-31 OC356132 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-07-31 OC356132 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-07-31 OC356132 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure
Registered number: OC356132









MARTIN SHEPHERD SOLICITORS LLP

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
MARTIN SHEPHERD SOLICITORS LLP
REGISTERED NUMBER: OC356132

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
56,266
61,828

Current assets
  

Debtors: amounts falling due within one year
 5 
531,278
519,239

Bank and cash balances
  
117,244
209,806

  
648,522
729,045

Creditors: amounts falling due within one year
 6 
(239,606)
(231,337)

Net current assets
  
 
 
408,916
 
 
497,708

Net assets
  
465,182
559,536


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 7 
133,182
242,536

Members' other interests
  

Members' capital classified as equity
  
332,000
317,000

  
 
332,000
 
317,000

  
465,182
559,536


Total members' interests
  

Loans and other debts due to members
 7 
133,182
242,536

Members' other interests
  
332,000
317,000

  
465,182
559,536

Page 1

 
MARTIN SHEPHERD SOLICITORS LLP
REGISTERED NUMBER: OC356132

BALANCE SHEET (CONTINUED)
AS AT 31 JULY 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 by: 




Antoinette Doyle
Daniel Raja
Designated member
Designated member


Date: 24 January 2025

The notes on pages 3 to 6 form part of these financial statements.

Martin Shepherd Solicitors 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

 
MARTIN SHEPHERD SOLICITORS LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Martin Shepherd Solicitors LLP is a limited liability partnership incorporated in England and Wales. The registered number is OC356132 and the address of the registered office is Maple House, High Street, Potters Bar, Hertfordshire, England, EN6 5BS.
The financial statements are presented in sterling which is the functional currency of the partnership.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the LLP's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Fee income represents revenue earned under a variety of contracts to provide professonal services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.
Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.

 
2.3

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.

 
2.4

Interest income

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

 
2.5

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.

 
2.6

Borrowing costs

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

Page 3

 
MARTIN SHEPHERD SOLICITORS LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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, .

Depreciation is provided on the following basis:

Short-term leasehold property
-
Straight line over the lease term
Fixtures and fittings
-
15% reducing balance
Other fixed assets
-
10% 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.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.10

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.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. 


3.


Employees

The average monthly number of employees, including directors, during the year was 30 (2023 - 32).

Page 4

 
MARTIN SHEPHERD SOLICITORS LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Tangible fixed assets





Short-term leasehold property
Fixtures and fittings
Other fixed assets
Total

£
£
£
£



Cost 


At 1 August 2023
770
102,022
91,629
194,421


Additions
-
2,600
-
2,600



At 31 July 2024

770
104,622
91,629
197,021



Depreciation


At 1 August 2023
770
76,828
54,995
132,593


Charge for the year on owned assets
-
4,015
4,147
8,162



At 31 July 2024

770
80,843
59,142
140,755



Net book value



At 31 July 2024
-
23,779
32,487
56,266



At 31 July 2023
-
25,194
36,634
61,828

Page 5

 
MARTIN SHEPHERD SOLICITORS LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
188,818
151,966

Amounts recoverable from clients in respect of unbilled work
203,263
233,846

Other debtors
75,744
78,499

Prepayments and accrued income
63,453
54,928

531,278
519,239



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
26,167
13,697

Trade creditors
150
8,152

Other taxation and social security
172,170
167,578

Other creditors
26,561
26,718

Accruals and deferred income
14,558
15,192

239,606
231,337



7.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
133,182
242,536

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




8.


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 costs charge represents contributions payable by the entity to the fund and amounted to £19,577 (2023 - £26,407). Contributions totalling £25,986 (2023 - £26,143) were payable to the fund at the balance sheet date and are included in creditors.


Page 6