Registration number:
Anthony Gold Solicitors LLP
for the Year Ended 31 March 2025
Anthony Gold Solicitors LLP
Contents
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Limited liability partnership information |
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Managing Partner's review |
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Members' Report |
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Statement of Members' Responsibilities |
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Independent Auditor's Report |
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Financial Statements |
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Income Statement |
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Statement of Comprehensive Income |
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Statement Of Financial Position |
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Statement of Changes in Members’ Interests |
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Cash Flow Statement |
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Notes to the Financial Statements |
Anthony Gold Solicitors LLP
Limited liability partnership information
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Registered office |
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Principal place of business |
The Cottons Centre |
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Bankers |
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Auditors |
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Anthony Gold Solicitors LLP
Managing Partner's review for the Year Ended 31 March 2025
I am pleased to make my annual report as Managing Partner of Anthony Gold Solicitors LLP. This has been another successful year for the firm. Our turnover for the year was £19,305,468. Comparing this with an annualised figure of £17,514,824 for our previous (11 months) accounting period that is an increase on the annualised FY24 revenue of 10%. Net profit was £7,852,828. Compared with an annualised net profit for FY24 of 6,312,244, net profit was 24% up. An excellent result. The firm’s net assets increased by £734,449 (6%). Loans falling due after more than one year fell to £58,333 compared to a balance of £373,652 in the previous year.
I am pleased that we have continued to strengthen our partnership with six new members joining, mostly internal appointments but including two lateral hires including the new head of our Family team as part of our succession planning. We continue to encourage our staff in hybrid working and are making good use of our premises. We continued to invest in our IT systems with the implementation of new specialist software for our court of protection team to improve the efficient management of client matters and funds.
We have continued to provide excellent professional legal support to our clients. We have used client feedback to improve service levels across all departments and received some excellent testimonials via the Trustpilot platform where we have a strong overall ranking of 4.8 out of 5.0. We have also maintained our Lexcel and CQS accreditations and our legal directory rankings.
I would like to thank everyone in the firm for their contributions to this successful year. We remain optimistic for the future growth of the firm.
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D Marshall
Managing Partner
Anthony Gold Solicitors LLP
Members' Report for the Year Ended 31 March 2025
The members present their report and the financial statements for the year ended 31 March 2025.
Firm structure
The LLP is a limited liability partnership registered in England and Wales. A list of designated members’ names is available for inspection at the LLP’s registered office.
Principal activity
The principal activity of the limited liability partnership is the provision of professional services as a firm of solicitors.
Designated members
The following are designated members of the LLP who held office during and after the period:
D Marshall
K Beatson
D Wedgwood
A Brookes
S Whitaker
J Spinks
I Mitchell
T Waitt
A Knipe
J Kennedy
S Bibi
J Mackenzie
G Peaker
A Weir
D Emmerson
S Hughes
I Peters
E Holden
F Snowdon
A Balgobin
A Hopkins
A Dyl
G Feeney
D Lindsay
E Tante
E Solomon
S David
S Hussain (Designated member from 1 April 2024)
J Piers (Designated member from 1 April 2024)
A Sibbald (Designated member from 1 April 2024)
Anthony Gold Solicitors LLP
Members' Report for the Year Ended 31 March 2025
Members
The following are members of the LLP during and after the period:
A Malsher
C Tibber
P Gilmour
P Cartin (Appointed on 1 April 2024)
S Cummins (Appointed on 1 April 2024)
T Dickinson (Appointed on 1 April 2024)
R Stewart (Appointed on 1 April 2024)
L Davenport (Appointed on 9 December 2024)
V Rylatt (Appointed on 1 April 2025)
Members' drawings and the subscription and repayment of members' capital
Members' drawing policy
During the period, members receive monthly drawings on account of current period profits. The
drawings are calculated to take account of the estimated profit for the period as well as the cash
requirements of the business. Profits are allocated between the members in accordance with the profit
sharing agreement set during the financial period. Drawings are offset against the members profit
share for the period. It has been agreed between the members that all profits are deemed to be
automatically allocated to the members during the period.
Capital
The capital requirements of the LLP are determined from time to time by the executive board. Each
member is required to subscribe a proportion of this capital. The amount of capital subscribed by each
member is usually linked to the share of profits allocated to that member. On leaving the LLP, a
member's capital is repaid in accordance with arrangements made with the member at the leaving
date.
Disclosure of information to the auditors
Each member has taken steps that they ought to have taken as a member in order to make themselves aware of any relevant audit information and to establish that the limited liability partnership's auditors are aware of that information. The members confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Approved by the
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Anthony Gold Solicitors LLP
Statement of Members' Responsibilities for the Year Ended 31 March 2025
The members are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
The Limited Liability Partnerships (Accounts & Audit) (Application of Companies Act 2006) Regulations 2008 require 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 to LLPs 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 limited liability partnership and of the profit or loss of the limited liability partnership for that year. In preparing these financial statements, the members are required to:
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select suitable accounting policies and then apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Partnership will continue in business. |
The members are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the limited liability partnership and enable them to ensure that the financial statements comply with the Companies Act 2006, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, and in accordance with the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships (issued January 2017). They are also responsible for safeguarding the assets of the limited liability partnership and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
These responsibilities are exercised by the Board on behalf of the members.
Anthony Gold Solicitors LLP
Independent Auditor's Report to the Members of Anthony Gold Solicitors LLP
Opinion
We have audited the financial statements of Anthony Gold Solicitors LLP (the ‘limited liability partnership’) for the year ended 31 March 2025, which comprise the Income Statement, Statement of Comprehensive Income, Statement Of Financial Position, Statement of Changes in Members’ Interests, Cash Flow Statement, and Notes to the Financial Statements, 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).
In our opinion the financial statements:
• | give a true and fair view of the state of the limited liability partnership's affairs as at 31 March 2025 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006, as applied to limited liability partnerships. |
Basis for opinion
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 auditor responsibilities for the audit of the financial statements section of our report. We are independent of the limited liability partnership in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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.
Conclusions relating to going concern
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 entity's ability to continue as a going concern for a period of at least twelve months from when the original 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.
Other information
The members are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
Anthony Gold Solicitors LLP
Independent Auditor's Report to the Members of Anthony Gold Solicitors LLP
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept by the limited liability partnership, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the limited liability partnership financial statements are not in agreement with the accounting records and returns; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of members
As explained more fully in the Statement of Members' Responsibilities [set out on page 5], the members are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the members determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the members are responsible for assessing the limited liability partnership's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the members either intend to liquidate the limited liability partnership or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
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 auditor’s 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.
Anthony Gold Solicitors LLP
Independent Auditor's Report to the Members of Anthony Gold Solicitors LLP
Irregularities, including fraud, are instances of non-compliances 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:
• Enquiry of management and those charged with governance around the actual and potential litigation and claims;
• Performing audit work over the risk of management override of controls, including testing of large or otherwise unusual journal entries and other adjustments for appropriateness;
• Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with the applicable laws and regulations;
• Review of legal and professional nominal accounts for indications of any actual or potential litigation;
• Reviewing minutes of those charged with governance for evidence of any actual or potential litigation or non-compliance with laws or regulations;
• Review of accounting estimates for accrued income and bad debt provisions for indications of management bias;
• Reviewing the SRA report to identify instances of non-compliance with SRA regulations, and consider the potential impact on the risks identified within the statutory audit.
Because of the inherent limitations of an audit, there is risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulations. This risk increases the more that compliance with a law or regulations 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.
As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
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Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. |
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Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the limited liability partnership’s internal control. |
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the members. |
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Conclude on the appropriateness of the members’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the limited liability partnership's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the limited liability partnership to cease to continue as a going concern. |
Anthony Gold Solicitors LLP
Independent Auditor's Report to the Members of Anthony Gold Solicitors LLP
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Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and event in a manner that achieves fair presentation. |
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Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the limited liability partnership to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the limited liability partnership audit. We remain solely responsible for our audit opinion. |
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the limited liability partnership’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts & Audit) (Application of Companies Act 2006) Regulations 2008. Our audit work has been undertaken so that we might state to the limited liability partnership’s members those matters we are required to state to them in an auditor’s 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 limited liability partnership, and the limited liability partnership members as a body, for our audit work, for this report, or for the opinions we have formed.
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For and on behalf of
D S House
306 High Street
Surrey
CR0 1NG
Anthony Gold Solicitors LLP
Income Statement for the Year Ended 31 March 2025
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Note |
31 March |
31 March |
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Turnover |
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Cost of sales |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating profit |
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Other interest receivable and similar income |
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Profit for the year before members' remuneration and profit shares |
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Members' remuneration charged as an expense |
(7,852,828) |
(5,786,224) |
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Profit/(loss) for the year available for discretionary division among members |
- |
- |
Turnover and operating profit derive wholly from continuing operations.
The limited liability partnership has no recognised gains or losses for the year other than the results above.
Profit and loss comparative figures for 2024 represent 11 months period from May 2023 to March 2024.
Anthony Gold Solicitors LLP
Statement of Comprehensive Income for the Year Ended 31 March 2025
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Note |
Year ended 31 March 2025 |
1 May 2023 to 31 March 2024 |
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Profit/(loss) for the year available for discretionary division among members |
- |
- |
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Other comprehensive income |
- |
- |
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Total comprehensive income for the year available for discretionary division among members |
- |
- |
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Anthony Gold Solicitors LLP
(Registration number: OC433560)
Statement Of Financial Position as at 31 March 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Intangible assets |
- |
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Tangible assets |
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Current assets |
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Work in progress |
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Debtors |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets attributable to members |
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Represented by: |
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Loans and other debts due to members |
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Members' capital classified as a liability |
8,238,828 |
7,167,229 |
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Other amounts |
3,319,867 |
3,620,364 |
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Members’ other interest |
40,356 |
77,009 |
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11,599,051 |
10,864,602 |
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11,599,051 |
10,864,602 |
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Total members' interests |
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Loans and other debts due to members |
11,599,051 |
10,864,602 |
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11,599,051 |
10,864,602 |
The financial statements of Anthony Gold Solicitors LLP (registered number OC433560) were approved by the
Anthony Gold Solicitors LLP
(Registration number: OC433560)
Statement Of Financial Position as at 31 March 2025
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Anthony Gold Solicitors LLP
Statement of Changes in Members’ Interests
At 31 March 2025
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Equity |
Loans and other debts due to/(from) members |
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Other reserves |
Payments made to former members |
Members' capital classified as a liability |
Members' other amounts |
Total |
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Members' interest at 1 April 2024 |
- |
77,009 |
7,167,229 |
3,620,364 |
10,864,602 |
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Profit for the financial year before members' remuneration and profit shares |
7,812,472 |
40,356 |
- |
- |
7,852,828 |
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Members' remuneration charged as an expense |
(7,812,472) |
- |
- |
7,812,472 |
- |
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Members' interests after total comprehensive income |
- |
117,365 |
7,167,229 |
11,432,836 |
18,717,430 |
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Members’ capital introduced |
- |
- |
475,000 |
- |
475,000 |
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Transfer to members' capital |
- |
- |
875,695 |
(875,695) |
- |
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Movement in former members' accounts |
- |
(77,009) |
- |
- |
(77,009) |
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Drawings |
- |
- |
(279,096) |
(7,237,274) |
(7,516,370) |
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At 31 March 2025 |
- |
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8,238,828 |
3,319,867 |
11,599,051 |
Anthony Gold Solicitors LLP
Statement of Changes in Members’ Interests
At 31 March 2025
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Equity |
Loans and other debts due to/(from) members |
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Other reserves |
Payments made to former members |
Members' capital classified as a liability |
Members' other amounts |
Total |
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Members' interest at 1 May 2023 |
- |
- |
5,855,884 |
3,249,905 |
9,105,789 |
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Profit for the financial year before members' remuneration and profit shares |
5,709,215 |
77,009 |
- |
- |
5,786,224 |
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Members' remuneration charged as an expense |
(5,709,215) |
- |
- |
5,709,215 |
- |
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Members' interests after total comprehensive income |
- |
77,009 |
5,855,884 |
8,959,120 |
14,892,013 |
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Members’ capital introduced |
- |
- |
1,461,172 |
- |
1,461,172 |
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Transfer to members' capital |
- |
- |
166,000 |
(166,000) |
- |
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Drawings |
- |
- |
(315,827) |
(5,172,756) |
(5,488,583) |
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At 31 March 2024 |
- |
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7,167,229 |
3,620,364 |
10,864,602 |
Anthony Gold Solicitors LLP
Cash Flow Statement for the Year Ended 31 March 2025
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Note |
31 March 2025 |
31 March 2024 |
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Net cash inflow from operating activities |
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Cash flows from investing activities |
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Purchase of tangible fixed assets |
( |
( |
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Interest received |
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Net cash flows from investing activities |
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Cash flows from financing activities |
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Loans and borrowings |
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( |
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Capital contributions by members |
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Other transactions |
( |
- |
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Members' drawings |
(7,516,370) |
(5,488,583) |
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Net cash flows from financing activities |
( |
( |
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Net increase/(decrease) in cash and cash equivalents |
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( |
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Cash and cash equivalents at 1 April |
( |
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Cash and cash equivalents at 31 March |
( |
( |
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31 March 2025 |
31 March 2024 |
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Reconciliation to cash at bank and in hand: |
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Cash at bank |
( |
( |
Anthony Gold Solicitors LLP
Notes to the Financial Statements for the Year Ended 31 March 2025
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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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
General information and basis of accounting
The limited liability partnership is incorporated in England and Wales 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 Anthony Gold Solicitors LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies.
The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.
Going concern
The members have considered the going concern status of the business and concluded that it is appropriate to prepare these financial statements under the going concern assumption. This is based on management's expectation that the LLP will have continued access to bank funding under similar terms, and bearing in mind the ability of the LLP to vary the timing of payments to members in order to balance cash flow peaks and troughs.
Revenue recognition
Revenue comprises the fair value of consideration receivable in respect of services provided during the period, inclusive of recoverable expenses incurred but excluding value added tax.
Legal and Other Professional services revenues
Where fees are contractually able to be rendered by reference to time charged at agreed rates or fixed agreed fee, the revenue is recognised over time to the extent that it is considered recoverable.
Where revenue is subject to contingent fee arrangement the firm estimates the amount of variable consideration to which it will be entitled and constrains the revenue recognised to the amount for which it is considered highly probable that there will be no significant reversal. Due to the nature of the work being performed, this means that the contingent revenues are not recognised until such time as the outcome of the matter being considered is highly recoverable and the fee is assured.
Revenue which has been recognised but not invoiced by the balance sheet date is included in trade debtors.
Anthony Gold Solicitors LLP
Notes to the Financial Statements for the Year Ended 31 March 2025
Members' remuneration and division of profits
The entire profit for the period is automatically allocated to members during the period and as such the nature of the relationship is contractual and therefore all profits are treated as “members’ remuneration charged as an expense”.
Members’ remuneration charged as expense also includes other contractual elements such as profit entitlements of fixed share partners and interest on members’ capital.
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.
Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.
Tangible fixed assets
Individual fixed assets are initially recorded at cost.
Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:
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Asset class |
Amortisation method and rate |
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Goodwill |
over 10 years |
Anthony Gold Solicitors LLP
Notes to the Financial Statements for the Year Ended 31 March 2025
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:
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Asset class |
Depreciation method and rate |
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Leasehold improvements |
over lease terms |
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Fixtures and fittings |
10% reducing balance |
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Computer equipments |
10% - 25% straight line |
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Office equipments |
10% - 25% straight line |
Work in progress
Work in progress is valued at the lower of cost and net realisable value. Net realisable value is based on selling price less anticipated costs to completion. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly
liquid investments that are readily convertible to a known amount of cash and are subject to an
insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Anthony Gold Solicitors LLP
Notes to the Financial Statements for the Year Ended 31 March 2025
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 Income Statement on a straight line basis over the lease term.
Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the partnership, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the Statement of Financial Activities over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.
Members' interests
Amounts due to members after more than one year comprise provisions for interest as included in the Members' agreement.
Pensions and other post retirement obligations
The LLP operates a defined contribution pension scheme and the pension charged in the profit and loss account represents the amount payable by the LLP to the funds in respect of the year.
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the LLP has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a finance transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the balance sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the limited liability partnership intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Anthony Gold Solicitors LLP
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Turnover |
The analysis of the LLP's revenue for the year is as follows:
|
31 March |
31 March |
|
|
Rendering of services |
|
|
|
Operating profit |
Operating profit is stated after charging /(crediting):
|
Year ended 31 March 2025 |
1 May 2023 to 31 March 2024 |
|
|
Operating leases |
|
|
|
Loss on sale of tangible fixed assets |
- |
|
|
Depreciation of owned assets |
|
|
|
Depreciation of leasehold property |
|
|
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Amortisation |
|
|
|
Auditors remuneration |
|
|
|
Audit-related assurance services |
31,500 |
30,000 |
|
Auditors' remuneration - non audit work |
10,500 |
11,000 |
|
Other interest receivable and similar income |
|
31 March |
31 March |
|
|
Other interest receivable and similar income |
|
|
|
904,586 |
666,318 |
|
Anthony Gold Solicitors LLP
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Particulars of employees |
|
Year ended 31 March 2025 |
1 May 2023 to 31 March 2024 |
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|
Fee Earners |
|
|
|
Support staff |
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|
||
|
Year ended 31 March 2025 |
1 May 2023 to 31 March 2024 |
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|
Wages and salaries |
|
|
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Social security costs |
|
|
|
Defined contribution pension |
|
|
|
7,402,628 |
5,974,601 |
|
|
|
||
|
Members' remuneration |
|
31 March |
31 March |
|
|
Average number of members during the year |
37 |
33 |
|
31 March 2025 |
31 March 2024 |
|
|
Members' Group remuneration charged as an expenses: |
||
|
Payable under the terms of the members' agreement |
7,852,828 |
5,786,224 |
The member with the largest entitlement to profit was £408,060 (2024: £324,367).
Anthony Gold Solicitors LLP
Notes to the Financial Statements for the Year Ended 31 March 2025
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Intangible fixed assets |
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Goodwill |
Total |
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Cost |
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At 1 April 2024 |
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At 31 March 2025 |
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Amortisation |
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At 1 April 2024 |
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Charge for the year |
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At 31 March 2025 |
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Net book value |
||
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At 31 March 2025 |
- |
- |
|
At 31 March 2024 |
|
|
|
Tangible fixed assets |
|
Short leasehold land and buildings |
Fixtures and fittings |
Office equipment |
Total |
|
|
Cost |
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At 1 April 2024 |
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|
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Additions |
- |
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At 31 March 2025 |
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Depreciation |
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At 1 April 2024 |
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Charge for the year |
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At 31 March 2025 |
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Net book value |
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At 31 March 2025 |
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|
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At 31 March 2024 |
|
|
|
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Anthony Gold Solicitors LLP
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Work in progress |
|
2025 |
2024 |
|
|
Work in progress |
|
|
|
Debtors |
|
2025 |
2024 |
|
|
Trade debtors |
|
|
|
Other debtors |
|
|
|
Prepayments and accrued income |
|
|
|
|
|
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Creditors: Amounts falling due within one year |
|
2025 |
2024 |
|
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Bank loans and overdrafts |
|
|
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Other loans |
|
|
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Trade creditors |
|
|
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Other taxes and social security |
|
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Other creditors |
|
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Accruals and deferred income |
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|
|
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Creditors: Amounts falling due after more than one year |
|
31 March 2025 |
31 March 2024 |
|
|
Bank loans |
|
|
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Other creditors |
|
|
|
|
|
Creditors amounts include bank loans due after more than 5 years of £Nil (2024 - £Nil). The bank loans and overdraft are secured by a debenture over the assets of the LLP. The bank loans are repayable by instalments and bear an average interest charge of 2.8%. Other creditors of £987,697 (2024-£1,100,023) relate to the capital account due to the retired partners.
Anthony Gold Solicitors LLP
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Net cash inflow from operating activities |
|
2025 |
2024 |
|
|
Operating profit |
|
|
|
Depreciation, amortisation and impairment charges |
|
|
|
Loss on disposal of fixed assets |
- |
20,000 |
|
Increase in work in progress |
( |
( |
|
Decrease/(increase) in debtors |
|
( |
|
Increase/(decrease) in creditors |
|
( |
|
Cash generated by operations |
|
|
|
Net cash inflow from operating activities |
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|
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Commitments |
The LLP had no capital commitments at 31 March 2025.
|
Contingent liabilities |
The LLP had no contingent liabilities at 31 March 2025.
|
Related party transactions |
In the opinion of the members there are no other transactions with related parties that require disclosure in these financial statements.
|
Control |
The ultimate controlling party is the designated members.
Anthony Gold Solicitors LLP
Notes to the Financial Statements for the Year Ended 31 March 2025
|
Lease commitments |
Operating leases
The total of future minimum lease payments commitments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
Later than five years |
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|
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|
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Critical accounting estimates and assumptions
The firm makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will seldom equal the related actual result.
How the firm values work carried out in each financial period is set out above in the revenue recognition policies. These policies require estimates to be made in respect of accrued income which is based on the assessments and judgements on the recovery of the related time costs incurred.