Sampson Coward LLP OC343608 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is the provision of legal services. Digita Accounts Production Advanced 6.30.9574.0 OC343608 2024-04-01 2025-03-31 OC343608 2025-03-31 OC343608 core:FurnitureFittings 2025-03-31 OC343608 core:LandBuildings core:ShortLeaseholdAssets 2025-03-31 OC343608 bus:SmallEntities 2024-04-01 2025-03-31 OC343608 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 OC343608 bus:FilletedAccounts 2024-04-01 2025-03-31 OC343608 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 OC343608 bus:RegisteredOffice 2024-04-01 2025-03-31 OC343608 bus:PartnerLLP3 2024-04-01 2025-03-31 OC343608 bus:PartnerLLP4 2024-04-01 2025-03-31 OC343608 bus:PartnerLLP5 2024-04-01 2025-03-31 OC343608 bus:PartnerLLP6 2024-04-01 2025-03-31 OC343608 bus:PartnerLLP7 2024-04-01 2025-03-31 OC343608 bus:PartnerLLP8 2024-04-01 2025-03-31 OC343608 bus:PartnerLLP9 2024-04-01 2025-03-31 OC343608 bus:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 OC343608 core:FurnitureFittings 2024-04-01 2025-03-31 OC343608 core:LandBuildings 2024-04-01 2025-03-31 OC343608 core:LandBuildings core:ShortLeaseholdAssets 2024-04-01 2025-03-31 OC343608 countries:AllCountries 2024-04-01 2025-03-31 OC343608 2024-03-31 OC343608 core:FurnitureFittings 2024-03-31 OC343608 core:LandBuildings core:ShortLeaseholdAssets 2024-03-31 OC343608 2023-04-01 2024-03-31 OC343608 2024-03-31 OC343608 core:FurnitureFittings 2024-03-31 OC343608 core:LandBuildings core:ShortLeaseholdAssets 2024-03-31 xbrli:pure iso4217:GBP

Sampson Coward LLP

Annual Report and Unaudited Financial Statements
Year Ended 31 March 2025

Registration number: OC343608

 

Sampson Coward LLP

Contents

Limited liability partnership information

1

Financial Statements

2 to 8

Balance Sheet

2

Notes to the Financial Statements

4

 

Sampson Coward LLP

Limited liability partnership information

Designated members

Mr D J Coward

Mrs T G M Coward

Ms V L Langdown

Mr M S Knight

Ms S M Secker

Mr S Kenmir

Ms C Parsons
 

Registered office

St Mary's Chambers
51 New Street
Salisbury
Wiltshire

SP1 2PH

Accountants

Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
EX2 7XE

 

Sampson Coward LLP

Balance Sheet

31 March 2025

Note

2025
 £

2024
 £

Fixed assets

 

Tangible assets

3

32,257

21,203

Current assets

 

Debtors

4

688,985

571,740

Cash and short-term deposits

 

895,089

707,785

 

1,584,074

1,279,525

Creditors: Amounts falling due within one year

5

(497,875)

(314,737)

Net current assets

 

1,086,199

964,788

Total assets less current liabilities

 

1,118,456

985,991

Provisions

 

Other provisions

7

(110,641)

(94,926)

Net assets attributable to members

 

1,007,815

891,065

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

613,334

562,333

Amounts due to members in respect of profits

394,481

328,732

 

1,007,815

891,065

   

1,007,815

891,065

Total members' interests

 

Loans and other debts due to members

 

1,007,815

891,065

   

1,007,815

891,065

 

Sampson Coward LLP

Balance Sheet

31 March 2025

For the year ending 31 March 2025 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

The members acknowledge their responsibilities for

(a) ensuring that the LLP keeps accounting records which comply with Section 386 and 387 of the Companies Act 2006 as applied by the Limited Liability Partnerships Regulations 2008.

(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 period and of its profit or loss for the financial period in accordance with the requirements of section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied by the Limited Liability Partnerships Regulations 2008, so far applicable to the LLP.


These financial statements have been prepared in accordance with the special provisions within Part 15 of the Companies Act 2006 as applied to small limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

The financial statements of Sampson Coward LLP (registered number OC343608) were approved by the Board and authorised for issue on 13 August 2025. They were signed on behalf of the limited liability partnership by:

.........................................
Mr D J Coward
Designated member

.........................................
Mr M S Knight
Designated member

.........................................
Ms C Parsons
Designated member

.........................................
Mrs T G M Coward
Designated member

.........................................
Ms S M Secker
Designated member

.........................................
Ms V L Langdown
Designated member

.........................................
Mr S Kenmir
Designated member

Registration number: OC343608

 

Sampson Coward LLP

Notes to the Financial Statements

Year Ended 31 March 2025

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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 Section 1A and the Companies Act 2006 and in accordance with the Statement of Recommended Practice 'Accounting for Limited Liability Partnerships' issued in December 2018. There are no material departures from FRS102.

General information and basis of accounting

The limited liability partnership is incorporated in the United Kingdom under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of Sampson Coward LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates.

Revenue recognition

Services provided to clients during the year which, at the balance sheet date, have not been invoiced to clients' have been recognised in turnover in accordance with Financial Reporting Standard 102.

Turnover recognised in this manner is based on an assessment of the fair value of the engagement. Revenue is not recognised on those engagements where the right to receive payments is contingent on factors outside the control of the Limited Liability Partnership. Unbilled revenue is included within debtors.

Members' remuneration and division of profits

Profits are automatically allocated to members. They are therefore shown as "Members' remuneration charged as an expense" in the Profit and Loss account in the relevant year. To the extent that they remain unpaid at the year end, they are included within "loans and other debts due to members" in the Balance Sheet.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

 

Sampson Coward LLP

Notes to the Financial Statements

Year Ended 31 March 2025

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Land and buildings

20% reducing balance

Fixtures and fittings

25% and 10% straight line

Stock, work in progress and long term contracts

Work in progress is calculated based upon the value of work done but not billed at the year end. The value represents the time spent on matters in progress at the firm's billing rates, reduced to a realisable value.

Provisions

Provisions are recognised when the limited liability partnership has an obligation at the reporting date as a result of a past event, it is probable that the limited liability partnership will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Hire purchase and leasing

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Rentals payable under operating leases are charged in the profit and loss on a straight line basis over the lease term.

Insurance arrangements

The LLP holds insurance cover in order to protect against the impact of professional negligence claims. Where appropriate the LLP makes provisions for the expected outcomes of these claims.

 

Sampson Coward LLP

Notes to the Financial Statements

Year Ended 31 March 2025

Financial instruments

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

The LLP holds the following financial instruments:

Basic financial assets comprise short term trade and other debtors and cash and bank balances.

Basic financial liabilities comprise short term trade and other creditors and bank loans.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 31 (2024 - 31).

 

Sampson Coward LLP

Notes to the Financial Statements

Year Ended 31 March 2025

3

Tangible fixed assets

Short leasehold land and buildings
£

Fixtures and fittings
 £

Total
£

Cost

At 1 April 2024

7,927

150,297

158,224

Additions

-

27,422

27,422

At 31 March 2025

7,927

177,719

185,646

Depreciation

At 1 April 2024

7,246

129,775

137,021

Charge for the year

136

16,232

16,368

At 31 March 2025

7,382

146,007

153,389

Net book value

At 31 March 2025

545

31,712

32,257

At 31 March 2024

681

20,522

21,203

4

Debtors

2025
 £

2024
 £

Trade debtors

264,532

282,500

Prepayments and accrued income

424,453

289,240

688,985

571,740

5

Creditors: Amounts falling due within one year

2025
 £

2024
 £

Bank loans

235,320

105,622

Trade creditors

36,748

20,414

Taxation and social security

187,216

171,664

Accruals and deferred income

38,591

17,037

497,875

314,737

Capital loans and other debts due to members rank pari passu with creditors, in accordance with the members' agreement. There are no restrictions on the members' ability to reduce the amount of members' other interests.

 

Sampson Coward LLP

Notes to the Financial Statements

Year Ended 31 March 2025

6

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £214,574 (2024 - £219,126).

7

Provisions

Dilapidations provision
£

Other provisions
£

Total
£

At 1 April 2024

84,927

10,000

94,927

Increase/(decrease) in existing provisions

15,714

-

15,714

At 31 March 2025

100,641

10,000

110,641