Paradigm Solicitors LLP - Filleted accounts

Registered number

OC369923

Paradigm Solicitors LLP

Filleted Accounts

31 March 2025

Paradigm Solicitors LLP
Registered number:		OC369923
Balance Sheet
as at 31 March 2025
Notes		2025		2024
£			£
Fixed assets
Tangible assets	3	9,924		8,588
Current assets
Debtors	4	63,989		49,999
Cash at bank and in hand		3,523,634		1,998,499
		3,587,623		2,048,498

Creditors: amounts falling due within one year	5	(3,532,753)		(2,015,672)

Net current assets		54,870		32,826

Total assets less current liabilities		64,794		41,414

Creditors: amounts falling due after more than one year	6	(10,714)		(21,310)


Net assets attributable to members		54,080		20,104

Represented by:
Loans and other debts due to members	7	54,080		20,104


		54,080		20,104

Total members' interests
Loans and other debts due to members	7	54,080		20,104

		54,080		20,104

For the year ended 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.

These accounts were approved by the members on 12 December 2025 and signed on their behalf by:


Ilyas Ahmetoglu
Designated member

Paradigm Solicitors LLP
Notes to the Accounts
for the year ended 31 March 2025

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and the Statement of Recommended Practice (SORP), "Accounting by Limited Liability Partnerships".

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Division of profits
	Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.

	Taxation
	Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings	not depreciated
	Leasehold land and buildings	not depreciated
	Plant and machinery	15% RB basis
	Fixtures, fittings, tools and equipment	15% RB basis

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Members' capital
	Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees		2025		2024
Number				Number

	Average number of persons employed by the LLP		5		4


3	Tangible fixed assets
					Plant and machinery etc
£
	Cost
	At 1 April 2024				18,003
	Additions				3,087
	At 31 March 2025				21,090

	Depreciation
	At 1 April 2024				9,415
	Charge for the year				1,751
	At 31 March 2025				11,166

	Net book value
	At 31 March 2025				9,924
	At 31 March 2024				8,588


4	Debtors		2025		2024
£				£

	Trade debtors		30,159		18,620
	Other debtors		33,830		31,379
			63,989		49,999


5	Creditors: amounts falling due within one year		2025		2024
£				£

	Trade creditors		1,125		2,700
	Other taxes and social security costs		39,378		32,327
	Other creditors		3,492,250		1,980,645
			3,532,753		2,015,672


6	Creditors: amounts falling due after one year		2025		2024
£				£

	Bank loans		10,714		21,310


7	Loans and other debts due to members		2025		2024
£				£

	Loans from members		-		(20,636)
	Amounts due to members in respect of profits		54,080		40,740
			54,080		20,104

	Amounts falling due within one year		54,080		20,104

	Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.


8	Controlling party

	The company was under the control of its members, I Ahmetoglu (35%) and K M Teo (50%) and J Dereli (15%) (appointed 8/8/24).


9	Other information

	Paradigm Solicitors LLP is a limited liability partnership incorporated in England. Its registered office is:
	Second Floor (Rear)
	36 Gerrard Street
	London
	England
	W1D 5QA