REGISTERED NUMBER: OC435829 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Merritts Solicitors LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DESIGNATED MEMBERS:

Mrs H Baxter

M J Moran

REGISTERED OFFICE:

83 High Street

Yarm

United Kingdom

Cleveland

TS15 9BG

REGISTERED NUMBER:

OC435829 (England and Wales)

ACCOUNTANTS:

Anderson Barrowcliff Limited

Chartered Accountants

3 Kingfisher Court

Bowesfield Park

Stockton on Tees

TS18 3EX

FIXED ASSETS

Tangible assets

4

24,498

24,071

CURRENT ASSETS

Debtors

5

827,975

850,928

Cash at bank and in hand

131,644

225,850

959,619

1,076,778

CREDITORS

Amounts falling due within one year

6

376,092

455,618

NET CURRENT ASSETS

583,527

621,160

TOTAL ASSETS LESS CURRENT LIABILITIES

608,025

645,231

CREDITORS

Amounts falling due after more than one year

7

-

38,750

NET ASSETS ATTRIBUTABLE TO MEMBERS

608,025

606,481

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

608,025

606,481

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

608,025

606,481

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 31 March 2025.

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.

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 Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 6 October 2025 and were signed by:

M J Moran - Designated member

1.	STATUTORY INFORMATION

Merritts Solicitors LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is £ sterling and is rounded to the nearest £.

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.

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, value added tax and other sales taxes, adjusted for opening and closing amounts recoverable on contracts.

Revenue is recognised in accordance with FRS 102. Income is recognised when the LLP has performed the services for it's clients, and has obtained the right to consideration for those services.

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

-

20% on cost

Computer equipment

-

33% on cost

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

Amounts recoverable on contracts

Amounts recoverable on contracts is calculated based on an assessment of the fair value of the services provided at the Balance Sheet date that have yet to be billed.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 29 (2024 - 27 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2024

6,304

44,766

51,070

Additions

-

13,565

13,565

At 31 March 2025

6,304

58,331

64,635

DEPRECIATION

At 1 April 2024

2,220

24,779

26,999

Charge for year

1,262

11,876

13,138

At 31 March 2025

3,482

36,655

40,137

NET BOOK VALUE

At 31 March 2025

2,822

21,676

24,498

At 31 March 2024

4,084

19,987

24,071

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

494,517

506,340

Amounts recoverable on contract

268,632

290,030

Other debtors

64,826

54,558

827,975

850,928

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

41,669

76,496

Trade creditors

12,567

11,176

Taxation and social security

208,513

212,426

Other creditors

113,343

155,520

376,092

455,618

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

38,750

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

41,250

98,750

The bank loan is secured by a fixed charge and a floating charge over all the property and undertakings of the LLP.

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2025

2024

£

£

Amounts owed to members in respect of profits

608,025

606,481

Falling due within one year

608,025

606,481

Loans & other debts due to members rank after all unsecured creditors in the event of a winding up.

10.	OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £11,526.