Limited Liability Partnership registration number OC386748 (England and Wales)
ATHENA SOLICITORS LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
ATHENA SOLICITORS LLP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ATHENA SOLICITORS LLP
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
31 March 2025
31 March 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,933
8,542
Current assets
Debtors
4
223,220
331,307
Cash at bank and in hand
104,562
108,562
327,782
439,869
Creditors: amounts falling due within one year
5
(139,500)
(180,030)
Net current assets
188,282
259,839
Total assets less current liabilities and net assets attributable to members
193,215
268,381
Represented by:
Loans and other debts due to members within one year
193,215
268,381
Total members' interests
Loans and other debts due to members
193,215
268,381
193,215
268,381

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

For the financial Year ended 31 March 2025 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The financial statements were approved by the members and authorised for issue on 14 July 2025 and are signed on their behalf by:
14 July 2025
P N D C Willan
Designated member
Limited Liability Partnership registration number OC386748 (England and Wales)
ATHENA SOLICITORS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Limited liability partnership information

Athena Solicitors LLP is a limited liability partnership incorporated in England and Wales. The registered office is Greg's Building, 1 Booth Street, Manchester, M2 4DU.

 

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, the principal accounting policies adopted are set out below.

1.2
Reporting period

The reporting period is for 12 months ended 31 March 2025 and the comparative period ending 31 March 2024 is for a 5 month period. The prior period was shortened to be coterminous with the tax year. The comparative amounts presented in these financial statements are therefore not entirely comparable.

1.3
Turnover

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.

1.4
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.

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.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

ATHENA SOLICITORS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -

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:

Fixtures and fittings
25% Reducing Balance
Computers
25% Straight Line

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.

1.6
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.

1.7
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

ATHENA SOLICITORS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
2
Employees

The average number of persons (excluding members) employed by the partnership during the year was 13 (2024 - 13).

3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024
135,225
Additions
1,488
At 31 March 2025
136,713
Depreciation and impairment
At 1 April 2024
126,683
Depreciation charged in the Year
5,097
At 31 March 2025
131,780
Carrying amount
At 31 March 2025
4,933
At 31 March 2024
8,542
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
203,026
263,912
Other debtors
20,194
67,395
223,220
331,307
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
-
4,500
Taxation and social security
97,371
113,636
Other creditors
42,129
61,894
139,500
180,030
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