Registered number
OC430379
Caytons Law LLP
Filleted Accounts
28 February 2025
Caytons Law LLP
Registered number: OC430379
Balance Sheet
as at 28 February 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 - 107,723
Current assets
Debtors 4 978,833 3,073,325
Cash at bank and in hand 576,601 3,282
1,555,434 3,076,607
Creditors: amounts falling due within one year 5 (1,227,889) (2,023,926)
Net current assets 327,545 1,052,681
Total assets less current liabilities 327,545 1,160,404
Net assets attributable to members 327,545 1,160,404
Represented by:
Loans and other debts due to members 6 327,545 1,160,404
327,545 1,160,404
Total members' interests
Loans and other debts due to members 6 327,545 1,160,404
327,545 1,160,404
For the year ended 28 February 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to 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.
The 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.
These accounts were approved by the members on 14 July 2025 and signed on their behalf by:
J CAYTON
Designated member
Caytons Law LLP
Notes to the Accounts
for the year ended 28 February 2025
1 Accounting policies
Basis of preparation
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold property costs Straight line over life of lease
Software Straight line over 5 years
Motor vehicles 25% reducing balance
Office Equipemnt Straight line over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases.
Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the LLP 45 41
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 March 2024 20,159 304,081 32,580 356,820
Additions - 7,252 - 7,252
Disposals (20,159) (311,333) (32,580) (364,072)
At 28 February 2025 - - - -
Depreciation
At 1 March 2024 8,494 218,331 22,272 249,097
Charge for the year 4,032 64,761 2,577 71,370
On disposals (12,526) (283,092) (24,849) (320,467)
At 28 February 2025 - - - -
Net book value
At 28 February 2025 - - - -
At 29 February 2024 11,665 85,750 10,308 107,723
4 Debtors 2025 2024
£ £
Trade debtors 69,246 2,822,823
Other debtors 909,587 250,502
978,833 3,073,325
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts - 116,733
Trade creditors 1,121,416 1,353,686
Other taxes and social security costs 1,928 241,420
Other creditors 104,545 312,087
1,227,889 2,023,926
6 Loans and other debts due to members 2025 2024
£ £
Amounts due to members in respect of profits 327,545 1,160,404
Amounts falling due within one year 327,545 1,160,404
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
7 Other information
Caytons Law LLP is a limited liability partnership incorporated in England. Its registered office is:
57a Broadway
Leigh-on-Sea
Essex
SS9 1PE
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