REGISTERED NUMBER: OC316529 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

FIONA BRUCE & CO LLP

Page

General Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mrs F Bruce

S Gray

P Porter

REGISTERED OFFICE:

Justice House

3 Grappenhall Road

Stockton Heath

Warrington

Cheshire

WA4 2AH

REGISTERED NUMBER:

OC316529 (England and Wales)

ACCOUNTANTS:

Mattocks Grindley

18 Mulberry Avenue

Turnstone Park

Widnes

Cheshire

WA8 0WN

FIXED ASSETS

Tangible assets

4

18,828

23,349

CURRENT ASSETS

Debtors

549,131

517,308

Cash at bank and in hand

1,237,083

1,197,959

1,786,214

1,715,267

CREDITORS

Amounts falling due within one year

563,227

371,034

NET CURRENT ASSETS

1,222,987

1,344,233

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,241,815

1,367,582

LOANS AND OTHER DEBTS DUE TO MEMBERS

6

1,241,815

1,367,582

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

6

1,241,815

1,367,582

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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

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 18 August 2025 and were signed by:

S Gray - Designated member

P Porter - Designated member

1.	STATUTORY INFORMATION

Fiona Bruce & Co 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 is measured at the fair value of legal services provided during the year. Fair value reflects the amount expected to be recoverable from clients and is based on time spent and expenses incurred. Fee income is stated net of Value Added Tax.

Legal services provided to clients during the year which, at the balance sheet date, have not been invoiced to clients, have been recognised as fee income in accordance with Section 23 Revenue of Financial Reporting Standard 102. Fee income recognised in this manner is based on an assessment of the fair value of the services provided by the balance sheet date as a proportion of the total value of the engagement.

Unbilled fee income is included as amounts recoverable on contracts within debtors. Amounts recoverable on contracts are stated at fair value where the right to consideration has been obtained. Provision is made against unbilled amounts on those engagements where the right to receive payments is contingent on factors outside the control of the Partnership. Contingent fee income (over and above any agreed minimum fee which is recognised as above) is recognised in the period when the contingent event occurs.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 29 (2024 - 28 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

314,265

Additions

1,755

At 31 March 2025

316,020

DEPRECIATION

At 1 April 2024

290,916

Charge for year

6,276

At 31 March 2025

297,192

NET BOOK VALUE

At 31 March 2025

18,828

At 31 March 2024

23,349

5.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.25

31.3.24

£

£

Within one year

123,000

111,000

Between one and five years

425,288

429,000

In more than five years

198,849

246,025

747,137

786,025

6.

LOANS AND OTHER DEBTS DUE TO MEMBERS

31.3.25

31.3.24

£

£

Amounts owed to members in respect of profits

1,241,815

1,367,582

Falling due within one year

1,241,815

1,367,582

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