BG Solicitors LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC371037 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

BG Solicitors LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Sharon Carr Limited

Benjamin Barber Limited

Mrs M T Barber

REGISTERED OFFICE:

Lauriston House

Town Hall Square

Grimsby

DN31 1JB

REGISTERED NUMBER:

OC371037 (England and Wales)

ACCOUNTANTS:

Smailes Goldie

Chartered Accountants

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

595,334

91,407

Investments

6

149,637

145,603

744,971

237,010

CURRENT ASSETS

Debtors

7

1,545,006

1,567,900

Cash at bank and in hand

116,683

2,708

1,661,689

1,570,608

CREDITORS

Amounts falling due within one year

8

1,149,853

1,119,441

NET CURRENT ASSETS

511,836

451,167

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,256,807

688,177

CREDITORS

Amounts falling due after more than one
year

9

(428,043

)

(163,216

)

PROVISIONS FOR LIABILITIES

(20,000

)

(20,000

)

NET ASSETS ATTRIBUTABLE TO
MEMBERS

808,764

504,961

LOANS AND OTHER DEBTS DUE TO
MEMBERS

11

8,764

74,961

MEMBERS' OTHER INTERESTS

Capital accounts

800,000

430,000

808,764

504,961

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

11

8,764

74,961

Members' other interests

800,000

430,000

Amounts due from members

7

(86,102

)

(91,713

)

722,662

413,248

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 31 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 November 2025 and were signed by:

Benjamin Barber Limited - Designated member

1.	STATUTORY INFORMATION

BG Solicitors 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.

Turnover

Turnover represents the value of professional services provided, excluding value added tax, measured at fair value. This includes amounts in respect of service contracts where the LLP has obtained the right to consideration.

Goodwill

Goodwill, being the amount charged to the LLP in connection with the acquistion of the business K Ready & Co in 2016, is classified as an asset on the balance and amortised in a straight line basis over its estimated useful life of 5 years. Provision is made for any impairment.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Pension costs and other post-retirement benefits

When employees have rendered service to the LLP, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The LLP operates a defined contribution plan for the benefit of its employees. Contributions are charged to the profit and loss account as they become payable.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recognised at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Any amounts due after more than one year are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at the present value of the future payments discounted at a market rate of interest for a similar instrument.

Provisions

Provisions are recognised when the LLP has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 74 (2024 - 84 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

55,664

AMORTISATION

At 1 April 2024

and 31 March 2025

55,664

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 April 2024

-

536,818

Additions

507,542

34,970

542,512

At 31 March 2025

507,542

571,788

1,079,330

DEPRECIATION

At 1 April 2024

-

445,411

Charge for year

-

38,585

At 31 March 2025

-

483,996

NET BOOK VALUE

At 31 March 2025

507,542

87,792

595,334

At 31 March 2024

-

91,407

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

145,603

Additions

4,034

At 31 March 2025

149,637

NET BOOK VALUE

At 31 March 2025

149,637

At 31 March 2024

145,603

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

192,175

243,777

Amounts recoverable on contract

1,031,032

1,018,840

Other debtors

321,799

305,283

1,545,006

1,567,900

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

597,615

693,349

Trade creditors

36,582

31,304

Taxation and social security

183,220

183,662

Other creditors

332,436

211,126

1,149,853

1,119,441

The partnership obtained finance through the government's Coronavirus Business Interruption Loan Scheme (CBILS) and the government's Bounce-back Loan Scheme (BBLS). Both schemes provide a government-backed guarantee and therefore none of the company's assets are held as security by the provider of the loans.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Bank loans

428,043

108,216

Other creditors

-

55,000

428,043

163,216

The partnership obtained finance through the government's Coronavirus Business Interruption Loan Scheme (CBILS) and the government's Bounce-back Loan Scheme (BBLS). Both schemes provide a government-backed guarantee and therefore none of the company's assets are held as security by the provider of the loans.

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank loans and overdrafts

772,233

293,361

The bank loan and overdraft is secured by a fixed and floating charge over the assets of the company.

11.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2025

2024

£

Amounts owed to members in respect of profits

8,764

74,961

Falling due within one year

8,764

74,961

Amounts included in loans and other debts due to members would rank pari passu to other unsecured creditors in the event of a winding up. There are no restrictions on the ability of the members to reduce the amount of members' other interest.

12.	FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance amount to £Nil (2024: £Nil).