The Principal Law Partnership LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC354086 (England and Wales)

The Principal Law Partnership LLP

Unaudited Financial Statements

for the Year Ended 30 March 2025

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mrs S L Green

Mrs A Howard

REGISTERED OFFICE:

The Attic

10 Victoria Road South

Southsea

Hampshire

PO5 2DA

REGISTERED NUMBER:

OC354086 (England and Wales)

ACCOUNTANTS:

Barter Durgan

Chartered Accountants

10 Victoria Road South

Southsea

Hampshire

PO5 2DA

CURRENT ASSETS

Debtors

33,177

CREDITORS

Amounts falling due within one year

4

1

NET CURRENT ASSETS

33,176

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO
MEMBERS

33,176

LOANS AND OTHER DEBTS DUE TO
MEMBERS

5

33,176

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

5

33,176

Amounts due from members

(33,177

)

(33,177

)

(1

)

(1

)

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30 March 2025.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 4 December 2025 and were signed by:

Mrs S L Green - Designated member

1.	STATUTORY INFORMATION

The Principal Law Partnership LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2024 - NIL).

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

1

5.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2025

2024

£

Amounts owed to members in respect of profits

33,176

Falling due within one year

33,176

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up.

There is no provision for specific legally enforceable protection afforded to creditors in such an event.

There are no restrictions or limitations on the ability of the members to reduce the amount of ‘Members’ other interests'.