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REGISTERED NUMBER: OC335929 (England and Wales)















REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

BUTTERS DAVID GREY LLP

BUTTERS DAVID GREY LLP (REGISTERED NUMBER: OC335929)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


BUTTERS DAVID GREY LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: I Granville
C V Taylor





REGISTERED OFFICE: 51 Havelock Road
Hastings
East Sussex
TN34 1BE





REGISTERED NUMBER: OC335929 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ

BUTTERS DAVID GREY LLP (REGISTERED NUMBER: OC335929)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2024

The members present their report with the financial statements of the LLP for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of the provision of legal services.

DESIGNATED MEMBERS
The designated members during the year under review were:

I Granville
C V Taylor

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £12,071 (2023 - £26,027 profit).

MEMBERS' INTERESTS
The policies regarding the allocation of profits to members, drawings and the subscription and repayment of members' capital are disclosed in the accounting policies, note 1 of the financial statements.

The members' interests are disclosed in the notes to the financial statements.

ON BEHALF OF THE MEMBERS:





C V Taylor - Designated member


30 January 2025

BUTTERS DAVID GREY LLP (REGISTERED NUMBER: OC335929)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

31.3.24 31.3.23
Notes £    £   

TURNOVER 788,061 716,778

Administrative expenses (823,356 ) (686,253 )
OPERATING (LOSS)/PROFIT 4 (35,295 ) 30,525

Interest receivable and similar income 63,013 -
27,718 30,525

Interest payable and similar expenses (15,647 ) (4,498 )
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION AND
PROFIT SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS




12,071




26,027

BUTTERS DAVID GREY LLP (REGISTERED NUMBER: OC335929)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 216,667 216,667
Tangible assets 6 16,578 21,137
233,245 237,804

CURRENT ASSETS
Debtors 7 187,422 158,747
Cash at bank and in hand 76,669 17,108
264,091 175,855
CREDITORS
Amounts falling due within one year 8 304,708 190,018
NET CURRENT LIABILITIES (40,617 ) (14,163 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

192,628

223,641

CREDITORS
Amounts falling due after more than one year 9 29,867 12,394
NET ASSETS ATTRIBUTABLE TO MEMBERS 162,761 211,247

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 162,761 211,247
162,761 211,247

TOTAL MEMBERS' INTERESTS
Members' other interests 162,761 211,247

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 31 March 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.

BUTTERS DAVID GREY LLP (REGISTERED NUMBER: OC335929)

BALANCE SHEET - continued
31 MARCH 2024


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

The financial statements were approved by the members of the LLP and authorised for issue on 30 January 2025 and were signed by:




I Granville - Designated member




C V Taylor - Designated member


BUTTERS DAVID GREY LLP (REGISTERED NUMBER: OC335929)

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

1. STATUTORY INFORMATION

Butters David Grey 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
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.

In preparing the financial statements, the members are required to make an assessment of the ability of the business to continue as a going concern. The members have considered all available evidence for the business which covers the 12 month period from the date of signing these financial statements.

On the basis of this consideration, the members are satisfied that the business has adequate resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future. In reaching this conclusion they consider that no material uncertainty exists. As a result, the members have concluded that it remains appropriate to adopt a going concern basis of preparation in these financial statements.

Turnover
Turnover represents net invoiced sale of services, excluding value added tax. Turnover is recognised when the company receives the right to consideration.

Goodwill
Intangible assets represent the cost of acquiring customer relationships including customer lists.

In the opinion of the members the customer lists have an active market and have therefore adopted the revaluation model of measurement. The members have not applied amortisation as they believe the customer lists have an indefinite useful economic life in that there is no foreseeable limit to the period over which the asset is expected to generate net cash inflows for the company.

The valuation of the customer lists is reviewed regularly and at least every three years by the members and adjusted accordingly.

Intangible assets are reviewed for impairment in any period in which events or changes in circumstances indicate the carrying value may not be fully recoverable.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 15% on reducing balance

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

BUTTERS DAVID GREY LLP (REGISTERED NUMBER: OC335929)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

Capital subscriptions and repayments.
The capital requirements of the partnership are determined from time to time by the Designated Members. The amount of capital subscribed by each member is linked to the earnings allocated to that member. Interest is paid on capital at a market rate on the average balance during the year at the discretion of the members.

Allocation of profits and drawings.
The allocation of profits to those who were members during the year is made by unanimous vote of the Designated Members.

During the year members draw sums as agreed by the Designated Member, taking into account the partnership's cash requirements for operating and investing activities.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 8 (2023 - 8 ) .

4. OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging:

31.3.24 31.3.23
£    £   
Depreciation - owned assets 3,075 3,135

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 650,000
AMORTISATION
At 1 April 2023
and 31 March 2024 433,333
NET BOOK VALUE
At 31 March 2024 216,667
At 31 March 2023 216,667

BUTTERS DAVID GREY LLP (REGISTERED NUMBER: OC335929)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 65,037
Additions 1,047
At 31 March 2024 66,084
DEPRECIATION
At 1 April 2023 43,900
Charge for year 5,606
At 31 March 2024 49,506
NET BOOK VALUE
At 31 March 2024 16,578
At 31 March 2023 21,137

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 23,995
DEPRECIATION
At 1 April 2023 13,872
Charge for year 2,531
At 31 March 2024 16,403
NET BOOK VALUE
At 31 March 2024 7,592
At 31 March 2023 10,123

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 42,303 21,060
Other debtors 145,119 137,687
187,422 158,747

BUTTERS DAVID GREY LLP (REGISTERED NUMBER: OC335929)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 76,252 111,894
Hire purchase contracts 12,394 2,580
Trade creditors 175,671 35,133
Taxation and social security 40,250 40,411
Other creditors 141 -
304,708 190,018

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 29,867 -
Hire purchase contracts - 12,394
29,867 12,394