Mercers Law LLP OC441672 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is provision of legal services. Digita Accounts Production Advanced 6.30.9574.0 true true OC441672 2024-04-01 2025-03-31 OC441672 2025-03-31 OC441672 core:OtherReservesSubtotal 2025-03-31 OC441672 core:CurrentFinancialInstruments 2025-03-31 OC441672 core:Non-currentFinancialInstruments 2025-03-31 OC441672 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 OC441672 core:WithinOneYear 2025-03-31 OC441672 core:FurnitureFittings 2025-03-31 OC441672 core:MotorVehicles 2025-03-31 OC441672 core:PlantMachinery 2025-03-31 OC441672 bus:SmallEntities 2024-04-01 2025-03-31 OC441672 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 OC441672 bus:FilletedAccounts 2024-04-01 2025-03-31 OC441672 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 OC441672 bus:RegisteredOffice 2024-04-01 2025-03-31 OC441672 bus:PartnerLLP1 2024-04-01 2025-03-31 OC441672 bus:PartnerLLP2 2024-04-01 2025-03-31 OC441672 bus:PartnerLLP3 2024-04-01 2025-03-31 OC441672 bus:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 OC441672 core:FurnitureFittings 2024-04-01 2025-03-31 OC441672 core:MotorVehicles 2024-04-01 2025-03-31 OC441672 core:PlantMachinery 2024-04-01 2025-03-31 OC441672 core:Vehicles 2024-04-01 2025-03-31 OC441672 countries:AllCountries 2024-04-01 2025-03-31 OC441672 2024-03-31 OC441672 core:FurnitureFittings 2024-03-31 OC441672 core:MotorVehicles 2024-03-31 OC441672 core:PlantMachinery 2024-03-31 OC441672 2023-01-01 2024-03-31 OC441672 2024-03-31 OC441672 core:OtherReservesSubtotal 2024-03-31 OC441672 core:CurrentFinancialInstruments 2024-03-31 OC441672 core:Non-currentFinancialInstruments 2024-03-31 OC441672 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 OC441672 core:WithinOneYear 2024-03-31 OC441672 core:FurnitureFittings 2024-03-31 OC441672 core:MotorVehicles 2024-03-31 OC441672 core:PlantMachinery 2024-03-31 iso4217:GBP xbrli:pure

Registration number: OC441672

Mercers Law LLP
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2025

Mercers Law LLP

Contents

Limited liability partnership information | 1
Financial Statements | 2 to 8
Balance Sheet | 2
Notes to the Financial Statements | 4

Mercers Law LLP

Limited liability partnership information

Designated members | G W Barker P A W Hopkins R M McKenzie

Registered office | 50 New Street Henley-On-Thames Oxfordshire RG9 2BX

Accountants | Vale & West Accountancy Services Limited Chartered Accountants Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG

Mercers Law LLP

(Registration number: OC441672)
Balance Sheet as at 31 March 2025

| Note | 31 March 2025 £ | 31 March 2024 £
Fixed assets |  |  |
Tangible assets | 3 | 47,138 | 38,575
Current assets |  |  |
Debtors | 4 | 795,365 | 796,406
Cash and short-term deposits |  | 613,206 | 461,980
|  | 1,408,571 | 1,258,386
Creditors: Amounts falling due within one year | 5 | (171,820) | (320,918)
Net current assets |  | 1,236,751 | 937,468
Total assets less current liabilities |  | 1,283,889 | 976,043
Creditors: Amounts falling due after more than one year | 6 | - | (55,000)
Net assets attributable to members |  | 1,283,889 | 921,043
Represented by: |  |  |
Loans and other debts due to members |  |  |
Members' capital classified as a liability |  | 858,677 | 678,473
Members’ other interests |  |  |
Members' capital classified as equity |  | 150,000 | 40,000
Other reserves |  | 275,212 | 202,570
|  | 425,212 | 242,570
|  | 1,283,889 | 921,043
Total members' interests |  |  |
Loans and other debts due to members |  | 858,677 | 678,473
Equity |  | 425,212 | 242,570
|  | 1,283,889 | 921,043

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

Mercers Law LLP

(Registration number: OC441672)
Balance Sheet as at 31 March 2025 (continued)

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of Mercers Law LLP (registered number OC441672) were approved by the Board and authorised for issue on 21 November 2025. They were signed on behalf of the limited liability partnership by:

P A W Hopkins Designated member

Mercers Law LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

1 | Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 Mercers Law 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 set out below.

Going concern

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.

Revenue recognition

Revenue (described as Turnover) is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the LLP will receive the consideration due under contract;
- the stage of completion of the contract at the end of the period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.
Revenue that is contingent on events outside the control of the LLP is recognised when the contingent event occurs.

Mercers Law LLP

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

1 | Accounting policies (continued)

Members' remuneration and division of profits

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

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.

Tangible fixed assets

Tangible assets are stated at historic cost less accumulated depreciation and accumulated impairment losses.
At each balance sheet date, the company reviews the carrying amounts of its tangible assets to determine if any items have suffered an impairment loss. Any impairment loss is charged to profit or loss.

Depreciation

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

Asset class | Depreciation method and rate
Computer equipment | 20% per annum on cost
Furniture and fittings | 15% per annum on book value
Motor vehicles | 20% per annum on cost

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.

Stock, work in progress and long term contracts

Amounts recoverable on contracts, which are included in debtors, are stated at the net sales value of work done after provision for contingencies and anticipated future losses on contracts.

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.

Mercers Law LLP

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

1 | Accounting policies (continued)

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.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

Pensions and other post retirement obligations

The partnership operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2 | Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 33 (2024 - 35).

Mercers Law LLP

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

3 | Tangible fixed assets

| Computer equipment £ | Fixtures and fittings £ | Motor vehicles £ | Total £
Cost |  |  |  |
At 1 April 2024 | 118,029 | 67,793 | - | 185,822
Additions | - | - | 24,465 | 24,465
At 31 March 2025 | 118,029 | 67,793 | 24,465 | 210,287
Depreciation |  |  |  |
At 1 April 2024 | 82,183 | 65,054 | - | 147,237
Charge for the year | 10,608 | 411 | 4,893 | 15,912
At 31 March 2025 | 92,791 | 65,465 | 4,893 | 163,149
Net book value |  |  |  |
At 31 March 2025 | 25,238 | 2,328 | 19,572 | 47,138
At 31 March 2024 | 35,836 | 2,739 | - | 38,575

4 | Debtors

| 31 March 2025 £ | 31 March 2024 £
Trade debtors | 232,134 | 368,969
Amounts recoverable on contacts | 504,971 | 353,760
Prepayments and accrued income | 58,260 | 73,677
Total current trade and other debtors | 795,365 | 796,406

Mercers Law LLP

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

5 | Creditors: Amounts falling due within one year

| 31 March 2025 £ | 31 March 2024 £
Bank loans and overdrafts | 39,901 | 47,626
Trade creditors | 1,647 | 7,645
Taxation and social security | 110,632 | 155,416
Other creditors | 4,909 | 5,000
Accruals and deferred income | 14,731 | 105,231
| 171,820 | 320,918

6 | Creditors: Amounts falling due after more than one year

| 31 March 2025 £ | 31 March 2024 £
Other creditors | - | 55,000

7 | Loans and Other Debts Due to Members

In accordance with the LLP SORP and FRS 102, amounts included under “Loans and other debts due to members” represent members’ capital, current accounts, and other balances classified as liabilities. These amounts do not rank equally with external creditors.
In the event of a winding up, the amounts included in “Loans and other debts due to members” will rank after unsecured creditors.

8 | Control

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.