Registered number: OC351948
FOR THE YEAR ENDED 30 APRIL 2025
LANYON BOWDLER LLP
INFORMATION
LANYON BOWDLER LLP
INFORMATION
Advisers (continued)
LANYON BOWDLER LLP
CONTENTS
LANYON BOWDLER LLP
MEMBERS' REPORT
FOR THE YEAR ENDED 30 APRIL 2025
The members present their annual report together with the audited financial statements of Lanyon Bowdler LLP (the "LLP") for the year ended 30 April 2025.
Principal activities
The principal object of the LLP is to provide legal services.
Designated Members
R.B. Evans Limited, J G Merry Limited, S Hodgson Limited, P S Chaudhari Limited and E G Rees Limited were designated members of the LLP throughout the period.
Members
A D Pegg Limited, L Small Limited, D K Thomas Limited, T D Treherne Limited, G Walters Limited, E H Nutting Limited, D F Humphries Limited, D Humphries Limited, E P Burrell Limited, S C Whittall Limited, B Heath Limited, E Broomfield Limited, P A P Pearson Limited, CE Yardley Limited, D Pugh Limited, R Neil Davies Limited, P Ellis Limited, L E Speed Limited, M A Bowering Limited, Phillip Roberts, David Kevin Thomas, Jonathan Gareth Moriarty, Karl Steven Beckett, Laura Arabella Mary Weir, Karen Anne Clark, Emma Jane Deering, Georgina Kathryn Hughes and Kathryn Lawson were members of the LLP during the period.
Members' capital and interests
Each member's share of profit is determined by the subscription to the working capital of the LLP. The capital is repayable following death, retirement or expulsion from the LLP.
Details of changes in members' capital in the ended 30 April 2025 are set out in the financial statements.
Members are remunerated from the profits of the LLP and are required to make their own provision for pensions and other benefits. Profits are allocated and divided between members during the year in which they arise. Members draw a proportion of their anticipated profit shares monthly during the year, subject to the cash requirements of the business.
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LANYON BOWDLER LLP
MEMBERS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
Members' responsibilities statement
The members are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law, (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period.
In preparing these financial statements, the members are required to:
∙select suitable accounting policies and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business.
The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and to enable them to ensure that the financial statements comply with the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of the Companies Act 2006) Regulations 2008). They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of information to auditors
Each of the persons who are members at the time when this Members' Report is approved has confirmed that:
∙so far as that member is aware, there is no relevant audit information of which the LLP's auditors are unaware, and
∙that member has taken all the steps that ought to have been taken as a member in order to be aware of any relevant audit information and to establish that the LLP's auditors are aware of that information.
This report was approved by the members and signed on their behalf by:
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LANYON BOWDLER LLP
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LANYON BOWDLER LLP
We have audited the financial statements of Lanyon Bowdler LLP (the 'LLP') for the year ended 30 April 2025, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
As set out in accounting policy note 2.12, the contingent work in progress is not recognised in profit and loss account and is recognised as an asset in the balance sheet with the capital account increasing by an equal amount. This treatment is not in accordance with UK GAAP. Full disclosure of the financial effect of non compliance is shown in note 2.12 which is to overstate amounts recoverable on contracts and net assets by £8,187,915 (2024: £7,631,458).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the LLP in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
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LANYON BOWDLER LLP
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LANYON BOWDLER LLP (CONTINUED)
In auditing the financial statements, we have concluded that the members' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the LLP's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the members with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The members are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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LANYON BOWDLER LLP
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LANYON BOWDLER LLP (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The audit team obtained an understanding of the legal and regulatory frameworks that are applicable to the LLP and determined that the most significant are those that relate to the reporting framework (FRS102, the Companies Act 2006 and The Limited Liability Partnerships Regulations 2008), the relevant tax compliance regulations, employment law, Health and Safety Regulations and the EU General Data Protection Regulation (GDPR).
We understood how the LLP is complying with these frameworks by making enquiries of management and those responsible for legal and compliance procedures. We also reviewed board minutes to identify any recorded instances of irregularity or non compliance that might have a material impact on the financial statements.
We assessed the susceptibility of the LLP's financial statements to material misstatement, including how fraud might occur by meeting with key management to understand where they considered there was susceptibility to fraud. Based on our understanding our procedures involved enquiries of management and those charged with governance, manual journal entry testing, cashbook reviews for large and unusual items and the challenge of significant accounting estimates used in preparing the financial statements.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
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LANYON BOWDLER LLP
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LANYON BOWDLER LLP (CONTINUED)
This report is made solely to the LLP's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, as applied by Part 12 of The Limited Liability Partnerships (Accounts and Audit) (Applications of Companies Act 2006) Regulations 2008. Our audit work has been undertaken so that we might state to the LLP's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and the LLP's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
Belmont House
Shrewsbury Business Park
Shropshire
SY2 6LG
Date:
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LANYON BOWDLER LLP
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2025
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LANYON BOWDLER LLP
REGISTERED NUMBER: OC351948
BALANCE SHEET
AS AT 30 APRIL 2025
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LANYON BOWDLER LLP
REGISTERED NUMBER: OC351948
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2025
The financial statements were approved and authorised for issue by the members and were signed on their behalf by:
The notes on pages 13 to 32 form part of these financial statements.
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LANYON BOWDLER LLP
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2025
Page 10
LANYON BOWDLER LLP
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2025
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LANYON BOWDLER LLP
STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
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LANYON BOWDLER LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Lanyon Bowdler LLP is a LLP incorporated and domiciled in the UK and has a registered office and principal place of business at Chapter House North, Abbey Lawn, Abbey Foregate, Shrewsbury, Shropshire, SY2 5DE.
The principal activity of the LLP is to provide legal services.
The principal activity of the LLP is to provide legal services.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the LLP's accounting policies (see note 3).
The following principal accounting policies have been applied:
After making enquiries, the Members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. The LLP therefore continues to adopt the going concern basis in preparing its financial statements.
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LANYON BOWDLER LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
Fee income represents amounts receivable, both billed and adjusted for movement in accrued income for legal services that were provided in the course of normal business net of VAT and disbursements. All amounts relate to continuing operations. There were no recognisable gains and losses for 2025 other than those included in the profit and loss account.
The contributions are recognised as an expense in the statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the LLP in independently administered funds.
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LANYON BOWDLER LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.
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LANYON BOWDLER LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
Non-contingent work in progress is recognised as revenue in the profit and loss account with a corresponding debtor included in amounts recoverable on contracts.
Contingent work in progress is not recognised as revenue in the profit and loss account due to the nature of this work. An asset for this contingent income is included within amounts recoverable on contracts with a corresponding credit to a separate capital account. A provision is made for estimated corporation tax on this contingent asset. The members adopt this treatment in conflict with the requirements of UK GAAP which would require contingent work in progress to be excluded until the relevant contingencies have been satisfied. The members adopt this treatment because, in their view, it better reflects the commercial reality. The financial effect of non compliance is to overstate the net assets attributable to members by £8,187,915 (2024: £7,631,458) and to overstate the members' capital accounts by the same amount. There is no financial effect to the profit and loss account.
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LANYON BOWDLER LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
The LLP has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
Financial instruments are recognised in the LLP's Balance Sheet when the LLP 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The LLP's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
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LANYON BOWDLER LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
2.Accounting policies (continued)
Basic 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 LLP after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Other financial instruments
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
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LANYON BOWDLER LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
The LLP makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the actual results. In the opinion of the members there are the below noted estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Recognition of Work in Progress
All work in progress (disclosed as amounts recoverable on contracts in the accounts) is measured by reference to the amounts likely to be chargeable to clients. The carrying amount of these estimates as at the balance sheet date is £12,787,689 (2024: £11,923,703).
Property revaluation
Freehold Property revaluations are performed periodically in accordance with FRS102. Freehold property is carried at valuation determined on an existing use market basis. The revaluation surplus/(deficit) is disclosed within note 11 below.
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LANYON BOWDLER LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
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LANYON BOWDLER LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
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LANYON BOWDLER LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
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LANYON BOWDLER LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
11.Tangible fixed assets (continued)
If the land and buildings had not been icluded at valuation they would have been included under the historical convention as follows:
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LANYON BOWDLER LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
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LANYON BOWDLER LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Obligations under finance lease and hire purchase contracts are secured on the assets to which they relate.
Bank overdrafts are secured by way of a debenture.
Details of security provided on bank loans is included within note 16.
Bank overdrafts are secured by way of a debenture.
Details of security provided on bank loans is included within note 16.
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LANYON BOWDLER LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Also included within bank loans is a cashflow loan repayable by October 2026, with an interest charge of 3.75% over the base rate per year.
Obligations under finance lease and hire purchase contracts are secured on the assets to which they relate.
The loans are secured upon the assets to which they relate to.
Obligations under finance lease and hire purchase contracts are secured on the assets to which they relate.
The loans are secured upon the assets to which they relate to.
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LANYON BOWDLER LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
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LANYON BOWDLER LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
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LANYON BOWDLER LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
The members policy on drawings is dependent upon the working capital requirements of the LLP. A conservative level of monthly drawings plus the estimated members' Corporation Tax due on 1st February of the following year is approved by the Management Board at the start of the financial year.
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LANYON BOWDLER LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Page 30
LANYON BOWDLER LLP
The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity in an independently administered fund. The pension cost charge represents contributions payable by the entity to the fund and amounted to £121,149 (2024: £150,419). Contributions totaling £Nil (2024: £Nil) were payable to the fund at the balance sheet date.
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LANYON BOWDLER LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
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