STAPLOE SOLICITORS LLP

Company Registration Number:
OC346890 (England and Wales)

Unaudited statutory accounts for the year ended 31 July 2024

Period of accounts

Start date: 1 August 2023

End date: 31 July 2024

STAPLOE SOLICITORS LLP

Contents of the Financial Statements

for the Period Ended 31 July 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

STAPLOE SOLICITORS LLP

Directors' report period ended 31 July 2024

The directors present their report with the financial statements of the company for the period ended 31 July 2024

Principal activities of the company

The principal activity of the limited liability partnership continued to be that of providing legal services.

Additional information

Members' drawings, contributions and repayments: The members' drawing policy allows each member to draw a proportion of their profit share, subject to the cash requirements of the business. A member's capital requirement is linked to their share of profit and the financing requirement of the limited liability partnership. There is no opportunity for appreciation of the capital subscribed. Just as incoming members introduce their capital at "par", so the retiring members are repaid their capital at "par". Energy and carbon report: As the LLP has not consumed more than 40,000 kWh of energy in this reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficiency activities. Small LLPs exemption: This report has been prepared in accordance with the special provisions relating to small LLPs within Part 15 of the Companies Act 2006.



Directors

The directors shown below have held office during the whole of the period from
1 August 2023 to 31 July 2024

Thomas Jackson
Max Kapp
Hugh Tallamy


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
14 May 2025

And signed on behalf of the board by:
Name: Thomas Jackson
Status: Director

STAPLOE SOLICITORS LLP

Profit And Loss Account

for the Period Ended 31 July 2024

2024 2023


£

£
Turnover: 402,421 279,984
Cost of sales: ( 1,153 )
Gross profit(or loss): 402,421 278,831
Administrative expenses: ( 327,844 ) ( 204,507 )
Other operating income: 9,850
Operating profit(or loss): 74,577 84,174
Interest receivable and similar income: 6,429 2,246
Interest payable and similar charges: ( 7,125 ) ( 1,993 )
Profit(or loss) before tax: 73,881 84,427
Profit(or loss) for the financial year: 73,881 84,427

STAPLOE SOLICITORS LLP

Balance sheet

As at 31 July 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 25,924 32,282
Total fixed assets: 25,924 32,282
Current assets
Stocks: 4 116,131 64,111
Debtors: 5 2,825
Cash at bank and in hand: 12,660 6,743
Total current assets: 128,791 73,679
Creditors: amounts falling due within one year: 6 ( 26,247 ) ( 32,314 )
Net current assets (liabilities): 102,544 41,365
Total assets less current liabilities: 128,468 73,647
Creditors: amounts falling due after more than one year: 7 ( 25,727 ) ( 28,854 )
Total net assets (liabilities): 102,741 44,793
Capital and reserves
Called up share capital: 102,741 44,793
Total Shareholders' funds: 102,741 44,793

The notes form part of these financial statements

STAPLOE SOLICITORS LLP

Balance sheet statements

For the year ending 31 July 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 14 May 2025
and signed on behalf of the board by:

Name: Thomas Jackson
Status: Director

The notes form part of these financial statements

STAPLOE SOLICITORS LLP

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents the amounts recoverable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time. If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the Limited Liability Partnership), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the balance sheet date are carried forward as work in progress.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Computers 25% Straight line Motor vehicles 20% Reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

    Other accounting policies

    Accounting policies Limited liability partnership information Staploe Solicitors LLP is a limited liability partnership incorporated in England and Wales. The registered office is Geneva House, 3 Park Rd, Peterborough PE1 2UX . The limited liability partnership's principal activities are disclosed in the Members' Report. 1.1 Accounting convention These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. 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. All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests. Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member. Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, aas described above, according to whether the LLP has, in each case, an unconditional right to refuse payment. Impairment of fixed assets At each reporting period end date, the limited liability partnership reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the limited liability partnership estimates the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. 1.6 Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss. 1.7 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.

STAPLOE SOLICITORS LLP

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 9 4

STAPLOE SOLICITORS LLP

Notes to the Financial Statements

for the Period Ended 31 July 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 August 2023 32,282 32,282
Additions
Disposals
Revaluations
Transfers
At 31 July 2024 32,282 32,282
Depreciation
At 1 August 2023 0 0
Charge for year 6,358 6,358
On disposals
Other adjustments
At 31 July 2024 6,358 6,358
Net book value
At 31 July 2024 25,924 25,924
At 31 July 2023 32,282 32,282

STAPLOE SOLICITORS LLP

Notes to the Financial Statements

for the Period Ended 31 July 2024

4. Stocks

2024 2023
£ £
Stocks 116,131 64,111
Total 116,131 64,111

STAPLOE SOLICITORS LLP

Notes to the Financial Statements

for the Period Ended 31 July 2024

5. Debtors

2024 2023
£ £
Trade debtors 2,825
Total   2,825

STAPLOE SOLICITORS LLP

Notes to the Financial Statements

for the Period Ended 31 July 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 227
Taxation and social security 15,933 15,365
Other creditors 10,314 16,722
Total 26,247 32,314

STAPLOE SOLICITORS LLP

Notes to the Financial Statements

for the Period Ended 31 July 2024

7. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Bank loans and overdrafts 25,727 28,854
Total 25,727 28,854