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REGISTERED NUMBER: OC343055 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Close Thornton LLP

Close Thornton LLP (Registered number: OC343055)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Close Thornton LLP

General Information
for the Year Ended 30 September 2024







DESIGNATED MEMBERS: I Robson
S R Alexander
V M J Barraclough
S B Bass
M B Haynes
A W Price
G D Ward





REGISTERED OFFICE: 31 Houndgate
DARLINGTON
Co Durham
DL1 5RH





REGISTERED NUMBER: OC343055 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

Close Thornton LLP (Registered number: OC343055)

Balance Sheet
30 September 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 - 5,146

CURRENT ASSETS
Debtors 5 122,603 148,683
Cash at bank and in hand - 108,809
122,603 257,492
CREDITORS
Amounts falling due within one year 6 (62,691 ) (102,792 )
NET CURRENT ASSETS 59,912 154,700
TOTAL ASSETS LESS CURRENT
LIABILITIES

59,912

159,846

CREDITORS
Amounts falling due after more than one
year

7

(59,912

)

(103,862

)
NET ASSETS ATTRIBUTABLE TO
MEMBERS

-

55,984

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

-

55,984

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 - 55,984
Amounts due from members 5 (26,942 ) (26,942 )
(26,942 ) 29,042

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 September 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.

Close Thornton LLP (Registered number: OC343055)

Balance Sheet - continued
30 September 2024


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 Profit and loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 24 June 2025 and were signed by:





S B Bass - Designated member

Close Thornton LLP (Registered number: OC343055)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Close Thornton 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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below.

The trade of the LLP was transferred to Milners Solicitors on 1 October 2023, and so the LLP has now ceased to trade. As a result the financial statements are prepared on a basis other than that of a going concern.

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

Turnover represents amounts chargeable to clients for professional services provided during the year excluding VAT and third-party invoiced disbursements. Revenue is recognised on an individual engagement basis when the right to consideration has been obtained from the client in exchange for work performed and where the recoverability of the consideration can be assessed with reasonable certainty. Turnover in respect of contingent fee assignments (over and above any agreed minimum fee) is only recognised when the contingent event occurs and collectability of the fee is assured.

Unbilled turnover on individual client assignments is included in accrued income within debtors.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on cost
Computer equipment - 20% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

Leasing commitments
Rentals paid under operating leases are charged to the profit and loss account as incurred.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - 12 ).

Close Thornton LLP (Registered number: OC343055)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 October 2023 13,932 100,528 114,460
Transfer to ownership (13,932 ) (100,528 ) (114,460 )
At 30 September 2024 - - -
DEPRECIATION
At 1 October 2023 13,932 95,382 109,314
Transfer to ownership (13,932 ) (95,382 ) (109,314 )
At 30 September 2024 - - -
NET BOOK VALUE
At 30 September 2024 - - -
At 30 September 2023 - 5,146 5,146

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 15,556
Amounts owed by group undertakings 95,661 -
Amounts due from members 26,942 26,942
Accrued income - 106,185
122,603 148,683

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,067 10,067
Taxation and social security - 14,045
Other creditors 35,195 47,384
Accruals and deferred income 17,429 31,296
62,691 102,792

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 7,566 18,210
Other creditors 52,346 85,652
59,912 103,862

Close Thornton LLP (Registered number: OC343055)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year - 2,808
Between one and five years - 1,728
- 4,536

9. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits - 55,984

Falling due within one year - 55,984

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