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REGISTERED NUMBER: OC345994 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JUNE 2023 TO 31 MARCH 2024

FOR

BUSS MURTON LAW LLP

BUSS MURTON LAW LLP (REGISTERED NUMBER: OC345994)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JUNE 2023 TO 31 MARCH 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BUSS MURTON LAW LLP

GENERAL INFORMATION
FOR THE PERIOD 1 JUNE 2023 TO 31 MARCH 2024







DESIGNATED MEMBERS: D S Jaswal
A W B Lee
A J C Linton
A P J Smith





REGISTERED OFFICE: Wallside House
12 Mount Ephraim Road
Tunbridge Wells
Kent
TN1 1EE





REGISTERED NUMBER: OC345994 (England and Wales)





ACCOUNTANTS: Galloways Accounting
15 West Street
Brighton
East Sussex
BN1 2RL

BUSS MURTON LAW LLP (REGISTERED NUMBER: OC345994)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 10,239
Tangible assets 5 - 71,744
Investments 6 - 2
- 81,985

CURRENT ASSETS
Debtors 7 205,332 1,303,635
Cash at bank and in hand 5,939 157,497
211,271 1,461,132
CREDITORS
Amounts falling due within one year 8 (153,108 ) (865,991 )
NET CURRENT ASSETS 58,163 595,141
TOTAL ASSETS LESS CURRENT
LIABILITIES

58,163

677,126

CREDITORS
Amounts falling due after more than one
year

9

(58,163

)

(130,867

)
NET ASSETS ATTRIBUTABLE TO
MEMBERS

-

546,259

BUSS MURTON LAW LLP (REGISTERED NUMBER: OC345994)

BALANCE SHEET - continued
31 MARCH 2024

2024 2023
Notes £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

11

-

96,257

MEMBERS' OTHER INTERESTS
Capital accounts - 450,002
- 546,259

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 11 - 96,257
Members' other interests - 450,002
Amounts due from members 7 - (10,752 )
- 535,507

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 Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 4 February 2025 and were signed by:





A P J Smith - Designated member

BUSS MURTON LAW LLP (REGISTERED NUMBER: OC345994)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JUNE 2023 TO 31 MARCH 2024


1. STATUTORY INFORMATION

Buss Murton Law 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.

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

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP
and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the LLP will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

For client assignments in progress at the reporting date for which no income has been recoginsed, the accumulated costs are recognised as amounts recoverable on contracts. Cost includes labour cost of personnel directly engaged in providing the service, including supervisory personnel, and attributable overheads.

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the statement of comprehensive income over its useful economic life of 10 years.

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.

Development costs are being amortised evenly over their estimated useful life of three years.

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

BUSS MURTON LAW LLP (REGISTERED NUMBER: OC345994)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JUNE 2023 TO 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.

Improvements to property- over term of the lease
Fixtures and fittings- straight line over 5 years
Computer equipment- straight line over 5 years and straight line over 3 years

Investments in subsidiaries
Investments in subsidiaries are measured at cost less accumulated impairment.

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.

3. EMPLOYEE INFORMATION

The average number of employees during the period was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 June 2023 60,000 16,749 76,749
Additions - 5,990 5,990
Reclassification/transfer (60,000 ) (22,739 ) (82,739 )
At 31 March 2024 - - -
AMORTISATION
At 1 June 2023 52,000 14,510 66,510
Charge for period 2,500 2,741 5,241
Reclassification/transfer (54,500 ) (17,251 ) (71,751 )
At 31 March 2024 - - -
NET BOOK VALUE
At 31 March 2024 - - -
At 31 May 2023 8,000 2,239 10,239

BUSS MURTON LAW LLP (REGISTERED NUMBER: OC345994)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JUNE 2023 TO 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 June 2023 55,142 58,585 263,001 376,728
Additions - 724 10,110 10,834
Reclassification/transfer (55,142 ) (59,309 ) (273,111 ) (387,562 )
At 31 March 2024 - - - -
DEPRECIATION
At 1 June 2023 19,691 46,511 238,782 304,984
Charge for period 2,297 3,057 8,003 13,357
Reclassification/transfer (21,988 ) (49,568 ) (246,785 ) (318,341 )
At 31 March 2024 - - - -
NET BOOK VALUE
At 31 March 2024 - - - -
At 31 May 2023 35,451 12,074 24,219 71,744

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 June 2023 2
Reclassification/transfer (2 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 May 2023 2

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 354,018
Amounts owed by group undertakings 203,472 -
Amounts recoverable on contract - 571,563
Other debtors 1,860 378,054
205,332 1,303,635

BUSS MURTON LAW LLP (REGISTERED NUMBER: OC345994)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JUNE 2023 TO 31 MARCH 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 87,245 381,891
Trade creditors 54,679 106,248
Amounts owed to group undertakings - 120,077
Taxation and social security - 169,152
Other creditors 11,184 88,623
153,108 865,991

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 58,163 130,867

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 216,250 216,250
Between one and five years 828,146 840,854
In more than five years 113,500 281,000
1,157,896 1,338,104

The LLP also acts as a lessor. At the year end, the LLP had contracted with tenants, under non-cancellable operating leases, for the following future minimum lease payments:

Within 1 year - £94,500 (2023: £70,000)
Between 1 and 5 years - £2,667 (2023: £81,000)
Total - £97,167 (2023: £151,000)

11. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up. There are no restrictions or limitations that exist on the ability of the members to reduce the amount of Members' other interests.