Registered No. OC388952 (England and Wales)
Baches Solicitors LLP
Unaudited accounts
for the year ended 31 December 2024
Baches Solicitors LLP
LLP Information
for the year ended 31 December 2024
Designated members
Ms JOANNE JOHNSON
Ms Lindsey Samantha Newell
Registered Number
OC388952 (England and Wales)
Registered Office
Baches Solicitors LLP
Lombard House
Cronehills Linkway
West Bromwich
West Midlands
B70 7PL
England
Accountants
Six Wands Aspects Limited
Office FF6
19 Hereward Rise
Halesowen
West Midlands
B62 8AN
Baches Solicitors LLP
Statement of financial position
as at 31 December 2024
Tangible assets
65,032
5,592
Investments
104,365
104,365
Cash at bank and in hand
165,949
83,510
Creditors: amounts falling due within one year
(118,388)
(120,355)
Net current assets
566,087
456,673
Total assets less current liabilities
735,484
566,630
Creditors: amounts falling due after more than one year
(58,333)
(87,500)
Net assets attributable to members
677,151
479,130
Loans and other debts due to members
100,000
100,000
Revaluation reserve
104,265
104,265
Other reserves
472,886
274,865
Baches Solicitors LLP
Statement of financial position
as at 31 December 2024 (continued)
Loans and other debts due to members
100,000
100,000
Members' other interests
577,151
379,130
For the year ending 31 December 2024 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (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 profit and loss account has not been delivered to the Registrar of Companies.
Approved by the members on 7 April 2025.
Ms JOANNE JOHNSON
Designated member
Limited Liability Partnership Registration No. OC388952
Baches Solicitors LLP
Notes to the Accounts
for the year ended 31 December 2024
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
The accounts are presented in £ sterling.
Turnover represents amounts chargeable to clients for the provision of professional services, net of VAT, that have been provided during the year. The LLP recognises income as contract activity progresses and it obtains the right to consideration, except where the outcome cannot be assessed with reasonable probability. The excess of the right to consideration over invoiced amounts is shown within amounts recoverable on contracts.
Members' participating interests
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A
member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% on Cost
Computer equipment
25% on Cost
The LLP accounts for its investment in Baches Property Limited by the equity method, whereby the original cost of the investment is adjusted for the movement in underlying net assets applicable to the investments since their date of acquisition, as adjusted for any impairment in value that, in the judgement of the partners, needs to be reflected in the financial statements, with an adjustment to the LLP's revaluation reserve.
The partners consider the value of the assets and liabilities in Baches Property Limited at each reporting date and compare this with the carrying value of the fixed asset investment in the LLP's balance sheet. If the investment's recoverable amount is estimated to be less than its carrying amount then the carrying amount is reduced to the recoverable amount, with the impairment loss being recognised in the income statement. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the lower
of the revised estimate of the carrying amount and the carrying amount, had no impairment loss previously been recognised. A reversal of an impairment loss is recognised in income immediately.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Baches Solicitors LLP
Notes to the Accounts
for the year ended 31 December 2024
The LLP only enters into basic financial instruments that result in the recognition of financial assets or liabilities like trade or other debtors and creditors, loans from banks and other third parties, loans to related parties and investment in non-puttable ordinary shares.
The LLP operates a defined contribution plan for its employees. Contributions are charged to the profit and loss account as they become payable.
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the lease term.
Judgements and key sources of estimation uncertainty
In the application of the limited liability partnership’s accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Baches Solicitors LLP is a limited liability partnership, incorporated in England and Wales, registration number OC388952. Its registered office is Baches Solicitors LLP, Lombard House, Cronehills Linkway, West Bromwich, West Midlands, B70 7PL, England.
3
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2024
21,352
58,852
80,204
At 31 December 2024
96,299
58,852
155,151
At 1 January 2024
21,352
53,260
74,612
Charge for the year
14,053
1,454
15,507
At 31 December 2024
35,405
54,714
90,119
At 31 December 2024
60,894
4,138
65,032
At 31 December 2023
-
5,592
5,592
Baches Solicitors LLP
Notes to the Accounts
for the year ended 31 December 2024
4
Investments
Other investments
At 31 December 2024
104,365
Cost or valuation at 31st December 2024 is represented by; valuation in 2024; £104,265. Cost; £100.
5
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
66,667
50,000
Trade creditors
16,942
22,496
Taxes and social security costs
31,869
31,829
Other creditors
2,156
2,032
6
Creditors: amounts falling due after more than one year
2024
2023
LLoyds Bank Plc hold a fixed and floating charge over the undertaking and all property and assets, present and future, including goodwill, book debts, uncalled capital, leasehold property, fixtures and fixed plant and machinery.
7
Loans and other debts due to members
2024
2023
Members' capital classified as a liability
100,000
100,000
Amounts falling due within one year
100,000
100,000
In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.
8
Average number of employees
During the year the average number of employees was 28 (2023: 27).