Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-31 2025-03-31 22 2024-04-01 false provide legal services 21 false true The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC372431 2024-04-01 2025-03-31 OC372431 2023-04-01 2024-03-31 OC372431 2025-03-31 OC372431 2024-03-31 OC372431 c:MotorVehicles 2024-04-01 2025-03-31 OC372431 c:MotorVehicles 2025-03-31 OC372431 c:MotorVehicles 2024-03-31 OC372431 c:MotorVehicles c:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 OC372431 c:FurnitureFittings 2024-04-01 2025-03-31 OC372431 c:FurnitureFittings 2025-03-31 OC372431 c:FurnitureFittings 2024-03-31 OC372431 c:FurnitureFittings c:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 OC372431 c:OfficeEquipment 2024-04-01 2025-03-31 OC372431 c:OfficeEquipment 2025-03-31 OC372431 c:OfficeEquipment 2024-03-31 OC372431 c:OfficeEquipment c:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 OC372431 c:ComputerEquipment 2024-04-01 2025-03-31 OC372431 c:ComputerEquipment 2025-03-31 OC372431 c:ComputerEquipment 2024-03-31 OC372431 c:ComputerEquipment c:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 OC372431 c:OtherPropertyPlantEquipment 2024-04-01 2025-03-31 OC372431 c:OtherPropertyPlantEquipment 2025-03-31 OC372431 c:OtherPropertyPlantEquipment 2024-03-31 OC372431 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 OC372431 c:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 OC372431 c:CurrentFinancialInstruments 2025-03-31 OC372431 c:CurrentFinancialInstruments 2024-03-31 OC372431 c:Non-currentFinancialInstruments 2025-03-31 OC372431 c:Non-currentFinancialInstruments 2024-03-31 OC372431 c:CurrentFinancialInstruments c:WithinOneYear 2025-03-31 OC372431 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC372431 d:FRS102 2024-04-01 2025-03-31 OC372431 d:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 OC372431 d:FullAccounts 2024-04-01 2025-03-31 OC372431 d:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 OC372431 c:WithinOneYear 2025-03-31 OC372431 c:WithinOneYear 2024-03-31 OC372431 c:BetweenOneFiveYears 2025-03-31 OC372431 c:BetweenOneFiveYears 2024-03-31 OC372431 c:MoreThanFiveYears 2025-03-31 OC372431 c:MoreThanFiveYears 2024-03-31 OC372431 2 2024-04-01 2025-03-31 OC372431 d:PartnerLLP1 2024-04-01 2025-03-31 OC372431 c:FurtherSpecificReserve3ComponentTotalEquity 2025-03-31 OC372431 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC372431 LK LAW LLP UNAUDITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
LK LAW LLP
CONTENTS
| Page
Balance sheet | 1 - 2
Notes to the financial statements | 3 - 8
LK LAW LLP REGISTERED NUMBER:OC372431
BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 395,620 |  | 451,895
|  |  | 395,620 |  | 451,895
Current assets |  |  |  |  |
Debtors | 5 | 3,008,585 |  | 2,196,203 |
Cash at bank and in hand | 6 | 304,781 |  | 207,690 |
|  | 3,313,366 |  | 2,403,893 |
Creditors: Amounts Falling Due Within One Year | 7 | (1,535,908) |  | (1,306,996) |
Net current assets |  |  | 1,777,458 |  | 1,096,897
Total assets less current liabilities |  |  | 2,173,078 |  | 1,548,792
Net assets |  |  | 2,173,078 |  | 1,548,792
Represented by: |  |  |  |  |
Loans and other debts due to members within one year |  |  |  |  |
Other amounts | 8 |  | 2,173,078 |  | 1,548,792
|  |  | 2,173,078 |  | 1,548,792
|  |  | 2,173,078 |  | 1,548,792
Total members' interests |  |  |  |  |
Loans and other debts due to members | 8 |  | 2,173,078 |  | 1,548,792
|  |  | 2,173,078 |  | 1,548,792
1
LK LAW LLP REGISTERED NUMBER:OC372431
BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025 The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime. The entity was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements. The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The entity has opted not to file the profit and loss account in accordance with the provisions applicable to entities subject to the small LLPs regime. The financial statements were approved and authorised for issue by the members and were signed on their behalf by:
................................................ A J Ford
Designated member
Date: 14 November 2025
The notes on pages 3 to 8 form part of these financial statements. LK Law LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity. 2
LK LAW LLP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
LK Law LLP is a limited liability partnership registered in England and Wales, registration number OC372431. The registered office address is 33 Black Friars Lane, London, EC4V 6EP. The principal activity of the LLP is to provide legal services. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of 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 following principal accounting policies have been applied:
| 2.2 | Foreign currency translation
Functional and presentation currency The LLP's functional and presentational currency is pound sterling. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'administration expenses'.
| 2.3 | Turnover
Turnover from the provision of legal services is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Rendering of services Turnover 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 turnover can be measured reliably; ∙it is probable that the LLP will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably. 3
LK LAW LLP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.4 | Operating leases: the LLP as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.5 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.6 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.7 | Pensions
Defined contribution pension plan The LLP operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payment obligations. The contributions are recognised as an expense in profit or loss 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.
| 2.8 | Division and distribution of profits
A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period. An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making. The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense' in. In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense' where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.
| 2.9 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. 4
LK LAW LLP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.9 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis and using straight line method. Depreciation is provided on the following basis:
|  |  |  | Leasehold improvements | - | over the lease terms
|  |  |  | Fixtures and fittings | - | 10% reducing balance
|  |  |  | Office equipment | - | 20% reducing balance
|  |  |  | Computer equipment | - | 20 - 50% reducing balance, 20% straight line
|  |  |  | Other fixed assets | - | 2% reducing balance, 20 - 50% reducing balance
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.
| 2.10 | Debtors
Short-term debtors are measured at transaction price, less any impairment.
| 2.11 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.12 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.13 | Financial instruments
The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from other third parties, loans to related parties.
3. | Employees
| The average monthly number of employees, including designated members, during the year was 22 (2024 - 21).
5
LK LAW LLP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
4. | Tangible fixed assets
|  | Leasehold improvements | Fixtures and fittings | Office equipment | Computer equipment | Other fixed assets | Total
|  | £ | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |  |
| At 1 April 2024 | 401,448 | 81,688 | 25,266 | 401,648 | 28,257 | 938,307
| Additions | - | - | 2,260 | 14,953 | - | 17,213
| Disposals | - | - | - | (2,505) | - | (2,505)
| At 31 March 2025 | 401,448 | 81,688 | 27,526 | 414,096 | 28,257 | 953,015
| Depreciation |  |  |  |  |  |
| At 1 April 2024 | 63,768 | 52,446 | 18,292 | 343,379 | 8,527 | 486,412
| Charge for the year | 40,120 | 3,084 | 1,593 | 27,854 | 837 | 73,488
| Disposals | - | - | - | (2,505) | - | (2,505)
| At 31 March 2025 | 103,888 | 55,530 | 19,885 | 368,728 | 9,364 | 557,395
| Net book value |  |  |  |  |  |
| At 31 March 2025 | 297,560 | 26,158 | 7,641 | 45,368 | 18,893 | 395,620
| At 31 March 2024 | 337,680 | 29,242 | 6,974 | 58,269 | 19,730 | 451,895
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due after more than one year |  |
| Other debtors | 147,500 | 147,500
| Due within one year |  |
| Trade debtors | 1,545,002 | 906,065
| Amounts owed by group undertakings | 138,497 | 141,155
| Prepayments and accrued income | 1,177,586 | 1,001,483
|  | 3,008,585 | 2,196,203
6. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 304,781 | 207,690
6
LK LAW LLP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 747,550 | 492,768
| Other taxation and social security | 129,571 | 156,896
| Other creditors | 277,007 | 253,188
| Accruals and deferred income | 381,780 | 404,144
|  | 1,535,908 | 1,306,996
8. | Loans and other debts due to members
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other amounts due to members | 2,173,078 | 1,548,792
Loans and other debts due to members may be further analysed as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Falling due within one year | 2,173,078 | 1,548,792
Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.
9. | Pension commitments
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £79,690 (2024 - £72,595). Contributions totalling £14,144 (2024 - £NIL) were payable to the fund at the balance sheet date. 7
LK LAW LLP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
10. | Commitments under operating leases
| At 31 March 2025 the LLP had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 295,000 | 258,125
| Later than 1 year and not later than 5 years | 1,180,000 | 1,180,000
| Later than 5 years | 516,250 | 811,250
|  | 1,991,250 | 2,249,375
8