Company registration number 09479835 (England and Wales)
THE BURNSIDE PARTNERSHIP SOLICITORS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
PAGES FOR FILING WITH REGISTRAR
THE BURNSIDE PARTNERSHIP SOLICITORS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 10
THE BURNSIDE PARTNERSHIP SOLICITORS LTD
BALANCE SHEET
AS AT
31 MAY 2025
31 May 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
39,681
57,700
Investments
5
100,000
-
0
139,681
57,700
Current assets
Debtors
6
734,858
1,026,108
Cash at bank and in hand
1,033,065
756,791
1,767,923
1,782,899
Creditors: amounts falling due within one year
7
(656,099)
(699,854)
Net current assets
1,111,824
1,083,045
Total assets less current liabilities
1,251,505
1,140,745
Creditors: amounts falling due after more than one year
8
(100,000)
(166,787)
Provisions for liabilities
10
(24,920)
(25,675)
Net assets
1,126,585
948,283
Capital and reserves
Called up share capital
13
90
90
Profit and loss reserves
1,126,495
948,193
Total equity
1,126,585
948,283
THE BURNSIDE PARTNERSHIP SOLICITORS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2025
31 May 2025
- 2 -

For the financial year ended 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 4 October 2025 and are signed on its behalf by:
A. E. Burnside
Director
Company registration number 09479835 (England and Wales)
THE BURNSIDE PARTNERSHIP SOLICITORS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 3 -
1
Accounting policies
Company information

The Burnside Partnership Solicitors Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Carpenters' Workshop, Blenheim Palace Sawmills, Coombe, Oxfordshire, OX29 8ET.

1.1
Accounting convention

These financial statements have been prepared in accordance 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 company. Monetary a mounts 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
Turnover

Fee income represents the fair value of service provided during the year on the client assignments. Fair value reflects amounts expected to be recoverable on clients based on time spent, skills provided and expenses incurred, and excludes VAT. Income is recognised as contract activity progresses and the right to consideration secured, except where the final outcome cannot be assessed with reasonable certainty.

Income in respect of contingent fee assignments is recognised in the period when the contingent event occurs and collectability of the fee is assured.

Unbilled income on individual client assignments is included in recoverable contracts within debtors,

1.3
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.

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% of cost per annum
Computers
25% of cost per annum

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 credited or charged to profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

THE BURNSIDE PARTNERSHIP SOLICITORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

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 company 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 company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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 initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

THE BURNSIDE PARTNERSHIP SOLICITORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 5 -
1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

THE BURNSIDE PARTNERSHIP SOLICITORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 6 -
1.13
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
27
30
3
Dividends
2025
2024
£
£
Interim paid
165,000
165,000
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2024
163,018
Additions
9,006
At 31 May 2025
172,024
Depreciation and impairment
At 1 June 2024
105,318
Depreciation charged in the year
27,025
At 31 May 2025
132,343
Carrying amount
At 31 May 2025
39,681
At 31 May 2024
57,700
THE BURNSIDE PARTNERSHIP SOLICITORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 7 -
5
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
100,000
-
0
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 June 2024
-
Additions
100,000
At 31 May 2025
100,000
Carrying amount
At 31 May 2025
100,000
At 31 May 2024
-
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
419,162
415,855
Amounts recoverable on contracts
197,940
456,458
Other debtors
30,872
14,929
Prepayments and accrued income
86,884
138,866
734,858
1,026,108

Debtors due greater than one year include a rental deposit of £14,629 (2024: £14,629) included within Other debtors.

7
Creditors: amounts falling due within one year
2025
2024
£
£
Loans and borrowings
9
166,722
226,545
Trade creditors
64,277
55,363
Corporation tax liability
142,037
50,264
Social security and other taxes
189,676
202,514
Deferred income
12,269
46,330
Other creditors
29,332
-
0
Accrued expenses
51,786
118,838
656,099
699,854
THE BURNSIDE PARTNERSHIP SOLICITORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 8 -
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Loans and borrowings
-
0
166,787
Other creditors
100,000
-
0
100,000
166,787
9
Loans and overdrafts
2025
2024
£
£
Current loans and borrowings
Bank borrowings
166,722
100,000
Other borrowings
-
0
126,545
166,722
226,545
Non-current loans and borrowings
Payable within one year
166,722
226,545
Bank borrowings
-
0
166,787

The company is in receipt of two Coronavirus Business Interruption Loans that carry a government backed guarantee.

10
Provisions for liabilities
2025
2024
£
£
Dilapidations provision
15,000
15,000
Deferred tax liabilities
11
9,920
10,675
24,920
25,675
Movements on provisions apart from deferred tax liabilities:
Dilapidations provision
£
At 1 June 2024 and 31 May 2025
15,000
THE BURNSIDE PARTNERSHIP SOLICITORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 9 -
11
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
9,920
10,675
2025
Movements in the year:
£
Liability at 1 June 2024
10,675
Credit to profit or loss
(755)
Liability at 31 May 2025
9,920

The deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

12
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
155,496
286,689

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

Included in the balance sheet are unpaid pension contributions of £nil (2024: £nil).

13
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
90
90
90
90
14
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
672,408
747,476
THE BURNSIDE PARTNERSHIP SOLICITORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
14
Operating lease commitments
(Continued)
- 10 -
15
Related party transactions

The company has taken advantage of the exemption available per paragraph 33.1A of FRS 102 whereby it has not disclosed transactions with any wholly owned subsidiary of the group.

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