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REGISTERED NUMBER: OC356489 (England and Wales)















Unaudited Financial Statements

for the period

1 December 2022 to 31 March 2024

for

PEPPERS SOLICITORS LLP

PEPPERS SOLICITORS LLP (REGISTERED NUMBER: OC356489)

Contents of the Financial Statements
for the period 1 December 2022 to 31 March 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PEPPERS SOLICITORS LLP

General Information
for the period 1 December 2022 to 31 March 2024







Designated members: Mr C S Alexis
Mr S J Brown
Mr S Nicolaides
Mr S Hughes





Registered office: 387 City Road
London
EC1V 1NA





Registered number: OC356489 (England and Wales)





Accountants: Duncan & Toplis Limited
3rd Floor, Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ

PEPPERS SOLICITORS LLP (REGISTERED NUMBER: OC356489)

Balance Sheet
31 March 2024

2024 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 1 1

Current assets
Debtors 5 412,857 371,490
Cash at bank and in hand 32,089 32,733
444,946 404,223
Creditors
Amounts falling due within one year 6 60,827 15,272
Net current assets 384,119 388,951
Total assets less current liabilities 384,120 388,952

Creditors
Amounts falling due after more than one year 7 129,167 195,833
Net assets attributable to members 254,953 193,119

Loans and other debts due to members 8 254,953 193,119

Total members' interests
Loans and other debts due to members 8 254,953 193,119
Amounts due from members 5 (86,114 ) (57,121 )
168,839 135,998

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 period 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.

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

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 31 January 2025 and were signed by:





Mr S Nicolaides - Designated member

PEPPERS SOLICITORS LLP (REGISTERED NUMBER: OC356489)

Notes to the Financial Statements
for the period 1 December 2022 to 31 March 2024


1. Statutory information

Peppers 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
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.

Significant judgements and estimates
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

There is estimation uncertainty in calculating work in progress provisions. A full line by line review of work in progress is carried out at the end of each month. Whilst every attempt is made to ensure that the work in progress provisions are as accurate as possible, there remains a risk that the provisions do not match the level of work in progress which ultimately prove to be invoiced.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - over the length of the lease
Computer equipment - straight line over 3 years

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and Other debtors and Creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank.

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.

Work in progress
Work in progress is valued at the lower of time cost and net realisable value.

3. Employee information

The average number of employees during the period was 8 (2022 - 8 ) .

PEPPERS SOLICITORS LLP (REGISTERED NUMBER: OC356489)

Notes to the Financial Statements - continued
for the period 1 December 2022 to 31 March 2024


4. Tangible fixed assets
Short Computer
leasehold equipment Totals
£ £ £
Cost
At 1 December 2022
and 31 March 2024 69,943 5,339 75,282
Depreciation
At 1 December 2022
and 31 March 2024 69,943 5,338 75,281
Net book value
At 31 March 2024 - 1 1
At 30 November 2022 - 1 1

5. Debtors: amounts falling due within one year
2024 2022
£ £
Trade debtors 12,934 51,321
Other debtors 399,923 320,169
412,857 371,490

6. Creditors: amounts falling due within one year
2024 2022
£ £
Taxation and social security 42,856 7,301
Other creditors 17,971 7,971
60,827 15,272

7. Creditors: amounts falling due after more than one year
2024 2022
£ £
Other creditors 129,167 195,833

8. Loans and other debts due to members

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

There is no provision for specific legally enforceable protection afforded to creditors in such an event.

There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members' other interests'.