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REGISTERED NUMBER: OC373858 (England and Wales)










REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

CLAPHAM & COLLINGE LLP

CLAPHAM & COLLINGE LLP (REGISTERED NUMBER: OC373858)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2024




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Reconciliation of Members' Interests 5

Notes to the Financial Statements 7


CLAPHAM & COLLINGE LLP

GENERAL INFORMATION
for the year ended 30 April 2024







DESIGNATED MEMBERS: Mr B J Lowe
Mr M C Kermez
Mrs L J Whitehead
Mr N Grearson
Miss R A Farman





REGISTERED OFFICE: St Catherines House
All Saints Green
Norwich
Norfolk
NR1 3GA





REGISTERED NUMBER: OC373858 (England and Wales)





ACCOUNTANTS: Sexty & Co
Chartered Certified Accountants
124 Thorpe Road
Norwich
Norfolk
NR1 1RS

CLAPHAM & COLLINGE LLP (REGISTERED NUMBER: OC373858)

REPORT OF THE MEMBERS
for the year ended 30 April 2024

The members present their report with the financial statements of the LLP for the year ended 30 April 2024.

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

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

Mr B J Lowe
Mr M C Kermez
Mrs L J Whitehead
Mr N Grearson
Mr P S Lumb (resigned 9th November 2023)
Miss R A Farman

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £1,010,377 (2023 - £870,639 profit).

MEMBERS' INTERESTS
The limited liability partnership operates a drawings policy which has regard to a cautious estimate of budgeted profits and restricts drawings to prudent levels until the results for the year and individual members' allocations have been determined. In addition, the Membership Agreement provides a framework for further restriction of drawings under circumstances where the cash requirements of the business need to take priority over the cash needs of the members.

Members' capital requirements are determined from time to time by having regard to the short, medium and long term needs of the firm. Other than in rare and exceptional cases, members' capital is only repaid following retirement.

ON BEHALF OF THE MEMBERS:





Mr M C Kermez - Designated member


16 August 2024

CLAPHAM & COLLINGE LLP (REGISTERED NUMBER: OC373858)

INCOME STATEMENT
for the year ended 30 April 2024

2024 2023
Notes £    £   

TURNOVER 3,504,919 3,349,344

Cost of sales 1,485,291 1,267,401
GROSS PROFIT 2,019,628 2,081,943

Administrative expenses 1,347,877 1,333,517
OPERATING PROFIT 671,751 748,426

Interest receivable and similar income 338,626 122,213
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES


1,010,377


870,639

PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES


1,010,377


870,639

Members' remuneration charged as an
expense

5

(829,056

)

(667,476

)
PROFIT FOR THE FINANCIAL YEAR
AVAILABLE FOR DISCRETIONARY
DIVISION AMONG MEMBERS


181,321


203,163

CLAPHAM & COLLINGE LLP (REGISTERED NUMBER: OC373858)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 6 - -
Tangible assets 7 50,844 22,488
50,844 22,488

CURRENT ASSETS
Debtors 8 1,004,928 954,317
Cash in hand 1,126 763
1,006,054 955,080
CREDITORS
Amounts falling due within one year 9 477,419 493,179
NET CURRENT ASSETS 528,635 461,901
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

579,479

484,389

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

579,479

484,389

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 579,479 484,389

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 30 April 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 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 16 August 2024 and were signed by:



Mr M C Kermez - Designated member

CLAPHAM & COLLINGE LLP (REGISTERED NUMBER: OC373858)

RECONCILIATION OF MEMBERS' INTERESTS
for the year ended 30 April 2024


EQUITY DEBT TOTAL
Members' Loans and other debts due to MEMBERS'
other members less any amounts due INTERESTS
interests from members in debtors
Members'
capital
Other (classified Other
reserves as debt) amounts Total Total
£    £    £    £    £   
Amount due to members 270,000 214,389 484,389
Amount due from members - - -
Balance at 1 May 2023 - 270,000 214,389 484,389 484,389
Members' remuneration charged
as an expense, including
employment and retirement
benefit costs



-



-



829,056



829,056



829,056
Profit for the financial year
available for discretionary
division among members


181,321


-


-


-


181,321
Members' interests after profit
for the year

181,321

270,000

1,043,445

1,313,445

1,494,766
Other divisions of profit (181,321 ) - 181,321 181,321 -
Rent credited - - 10,763 10,763 10,763
Repayment of capital - (15,000 ) - (15,000 ) (15,000 )
Drawings on account and
distributions of profit
-
-

(911,050

)

(911,050

)

(911,050

)
Amount due to members 255,000 324,479 579,479
Amount due from members - - -
Balance at 30 April 2024 - 255,000 324,479 579,479 579,479

CLAPHAM & COLLINGE LLP (REGISTERED NUMBER: OC373858)

RECONCILIATION OF MEMBERS' INTERESTS
for the year ended 30 April 2024

EQUITY DEBT TOTAL
Members' Loans and other debts due to MEMBERS'
other members less any amounts due INTERESTS
interests from members in debtors
Members'
capital
Other (classified Other
reserves as debt) amounts Total Total
£    £    £    £    £   
Amount due to members 270,000 174,975 444,975
Amount due from members - - -
Balance at 1 May 2022 - 270,000 174,975 444,975 444,975
Members' remuneration charged
as an expense, including
employment and retirement
benefit costs



-



-



667,476



667,476



667,476
Profit for the financial year
available for discretionary
division among members


203,163


-


-


-


203,163
Members' interests after profit
for the year

203,163

270,000

842,451

1,112,451

1,315,614
Other divisions of profit (203,163 ) - 203,163 203,163 -
Rent credited - - 10,500 10,500 10,500
Drawings on account and
distributions of profit
-
-

(841,725

)

(841,725

)

(841,725

)
Amount due to members 270,000 214,389 484,389
Amount due from members - - -
Balance at 30 April 2023 - 270,000 214,389 484,389 484,389

CLAPHAM & COLLINGE LLP (REGISTERED NUMBER: OC373858)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

1. STATUTORY INFORMATION

Clapham & Collinge 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents fee income earned from the provision of legal services in the United Kingdom, and is stated net of value added tax and reflects the fair value of services provided to each client, including expenses and disbursements, based on the stage of completion of each assignment at the balance sheet date.

Services provided during the year to clients which at the balance sheet date have not yet been billed, are recognised as amounts recoverable on contracts. Provision is made against unbilled amounts on those client engagements where the right to receive consideration is contingent on factors outside the control of the limited liability partnership.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses in 2007, is being written off evenly over its estimated useful life.

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.

Improvements to leasehold property - 20% on cost
Office equipment - 25% on reducing balance
Computer equipment - 25% on cost

Taxation
The taxation payable on the profits of the limited liability partnership is the personal liability of the members and consequently neither taxation or related deferred taxation are provided for in the financial statements.

Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members.

Members' capital
Members' capital is repayable and is therefore classified as a liability. Other than in exceptional cases, it is not repaid until after retirement. Typically capital is repaid within three years of serving notice, and members' capital is therefore shown as being due after more than one year notwithstanding that repayment could be made earlier at the discretion of the members.

CLAPHAM & COLLINGE LLP (REGISTERED NUMBER: OC373858)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

3. ACCOUNTING POLICIES - continued

Members’ remuneration
Associate members
The share of profits payable to associate members is discretionary on the part of the limited liability partnership and are reported as 'members' other interests'

Full members
Profit remaining after sums allocated to associate members is automatically allocated and are treated as members’ remuneration charged as an expense to the profit and loss account.

Operating leases
Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

4. EMPLOYEE INFORMATION

The average number of employees during the year was 55 (2023 - 54 ) .

5. INFORMATION IN RELATION TO MEMBERS
2024 2023
£    £   
Members' remuneration charged as an expense
Partners' salaries as an
expense 20,710 14,418
Automatic division of profit 808,346 653,058
Total remuneration 829,056 667,476

6. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 104,286
AMORTISATION
At 1 May 2023
and 30 April 2024 104,286
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

CLAPHAM & COLLINGE LLP (REGISTERED NUMBER: OC373858)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

7. TANGIBLE FIXED ASSETS
Improvements
to
leasehold Office Computer
property Equipment equipment Totals
£    £    £    £   
COST
At 1 May 2023 182,451 47,798 230,813 461,062
Additions - 1,929 47,144 49,073
Disposals - - (76 ) (76 )
At 30 April 2024 182,451 49,727 277,881 510,059
DEPRECIATION
At 1 May 2023 181,212 43,025 214,337 438,574
Charge for year 694 1,325 18,745 20,764
Eliminated on disposal - - (123 ) (123 )
At 30 April 2024 181,906 44,350 232,959 459,215
NET BOOK VALUE
At 30 April 2024 545 5,377 44,922 50,844
At 30 April 2023 1,239 4,773 16,476 22,488

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 472,884 425,946
Amounts recoverable on contracts 298,835 323,691
Other debtors 233,209 204,680
1,004,928 954,317

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank overdraft 24,011 71,038
Trade creditors 125,952 74,947
Taxation and social security 145,313 133,368
Other creditors 182,143 213,826
477,419 493,179

CLAPHAM & COLLINGE LLP (REGISTERED NUMBER: OC373858)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

10. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 324,479 214,389
Capital account 255,000 270,000
579,479 484,389

Falling due within one year 324,479 214,389
Falling due after more than one year 255,000 270,000
579,479 484,389

Loans and other debts due to members rank pari passu with unsecured creditors.

11. OTHER FINANCIAL COMMITMENTS

The LLP has operating lease commitments of £126,450 (2023 £126,450).