Acorah Software Products - Accounts Production 16.1.200 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 OC392415 Mrs S Murray-King iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC392415 2023-03-31 OC392415 2024-03-31 OC392415 2023-04-01 2024-03-31 OC392415 frs-core:CurrentFinancialInstruments 2024-03-31 OC392415 frs-core:Non-currentFinancialInstruments 2024-03-31 OC392415 frs-core:NetGoodwill 2024-03-31 OC392415 frs-core:NetGoodwill 2023-04-01 2024-03-31 OC392415 frs-core:NetGoodwill 2023-03-31 OC392415 frs-core:PlantMachinery 2024-03-31 OC392415 frs-core:PlantMachinery 2023-04-01 2024-03-31 OC392415 frs-core:PlantMachinery 2023-03-31 OC392415 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC392415 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-01 2024-03-31 OC392415 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 OC392415 frs-bus:SmallEntities 2023-04-01 2024-03-31 OC392415 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC392415 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC392415 frs-countries:EnglandWales 2023-04-01 2024-03-31 OC392415 frs-bus:PartnerLLP1 2023-04-01 2024-03-31 OC392415 2022-03-31 OC392415 2023-03-31 OC392415 2022-04-01 2023-03-31 OC392415 frs-core:CurrentFinancialInstruments 2023-03-31 OC392415 frs-core:Non-currentFinancialInstruments 2023-03-31
Registered number: OC392415
SMQ Legal Services LLP
Unaudited Financial Statements
For The Year Ended 31 March 2024
Goringe Accountants Ltd
1650 Arlington Business Park
Theale
Reading
Berkshire
RG7 4SA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: OC392415
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 86,727 96,817
Tangible Assets 5 15,289 14,473
102,016 111,290
CURRENT ASSETS
Stocks 6 340,688 369,299
Debtors 7 298,131 229,430
Cash at bank and in hand 11,111 -
649,930 598,729
Creditors: Amounts Falling Due Within One Year 8 (1,216,168 ) (872,285 )
NET CURRENT ASSETS (LIABILITIES) (566,238 ) (273,556 )
TOTAL ASSETS LESS CURRENT LIABILITIES (464,222 ) (162,266 )
Creditors: Amounts Falling Due After More Than One Year 9 (18,401 ) (30,868 )
NET LIABILITIES ATTRIBUTABLE TO MEMBERS (482,623 ) (193,134 )
REPRESENTED BY:
Loans and other debts due to members
Members' capital classified as a liability (482,623) (193,134)
(482,623) (193,134)
(482,623) (193,134)
TOTAL MEMBERS' INTEREST
Loans and other debts due to members (482,623) (193,134)
(482,623) (193,134)
Page 1
Page 2
For the year ending 31 March 2024 the LLP 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 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Mrs S Murray-King
Designated Member
31/01/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
SMQ Legal Services LLP is a limited liability partnership, incorporated in England & Wales, registered number OC392415 . The Registered Office is Suite E, High Street, Kidlington, Oxfordshire, OX5 2DL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Going Concern Disclosure
The LLP Members are of the opinion that the accounts have been prepared on a going concern basis. 
The Members have a reasonable expectation that the LLP has adequate resources to continue its operations for a period of at least 12 months from the date that the financial statements are approved. It should be noted that a member resigned on 27th December 2024, and a new Finance Partner joined. Although the full financial implications are not yet known, the Members regularly review and plan the LLP’s business activities, together with factors likely to affect its future development, successful performance and position, and key risks in the current economic climate. 
The LLP Members remain committed to support the LLP financially.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% Reducing Balance
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 22 (2023: 22)
22 22
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 100,899
As at 31 March 2024 100,899
Amortisation
As at 1 April 2023 4,082
Provided during the period 10,090
As at 31 March 2024 14,172
Net Book Value
As at 31 March 2024 86,727
As at 1 April 2023 96,817
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2023 22,327
Additions 3,357
As at 31 March 2024 25,684
Depreciation
As at 1 April 2023 7,854
Provided during the period 2,541
As at 31 March 2024 10,395
Net Book Value
As at 31 March 2024 15,289
As at 1 April 2023 14,473
6. Stocks
2024 2023
£ £
Work in progress 340,688 369,299
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 110,242 156,900
Other debtors 187,889 72,530
298,131 229,430
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 378,167 349,498
Bank loans and overdrafts 15,458 77,971
Other loans 32,461 30,000
Other creditors 323,066 219,182
Taxation and social security 467,016 195,634
1,216,168 872,285
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 18,401 30,868
Page 5