Cross Solicitors LLP - LLP accounts 24.3

REGISTERED NUMBER: OC413521 (England and Wales)

Cross Solicitors LLP

Report of the Members and

Unaudited Financial Statements

for the Year Ended 31 March 2025

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Reconciliation of Members' Interests

6

Notes to the Financial Statements

8

DESIGNATED MEMBERS:

B R Cross

Mrs J Boyes

C T Jones

REGISTERED OFFICE:

2A High Street

Connah's Quay

Deeside

Flintshire

CH5 4DA

REGISTERED NUMBER:

OC413521 (England and Wales)

ACCOUNTANTS:

Henry R. Davis & Co. Limited

Chartered Accountants

Mechanics House,

12 Chester Road,

Pentre, Deeside

Flintshire

CH5 2AA

The members present their report with the financial statements of the LLP for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of a firm of solicitors.

DESIGNATED MEMBERS

The designated members during the period under review were:

B G Cross LL.B (Hons) - Resigned 31.10.24

Miss S M Hollywood - Resigned 31.10.24

B R Cross

Mrs J Boyes

C T Jones - Appointed 01.11.24

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £549,760 (2024 - £378,238 profit).

MEMBERS' INTERESTS

The members are entitled to draw, on account of profit, such sums as may from time to time be mutually agreed. All drawings are subject to the cash requirements of the business.

The capital requisite for carrying on this business of the LLP shall be agreed and contributed by the members from time to time. Repayments of amounts subscribed or otherwise contributed by members can only be made upon ceasing to be a member or at the discretion and agreement of all the members.

ON BEHALF OF THE MEMBERS:

B R Cross - Designated member

29 December 2025

TURNOVER

1,525,519

1,179,550

Administrative expenses

1,038,771

849,539

OPERATING PROFIT

4

486,748

330,011

Interest receivable and similar income

71,036

54,515

557,784

384,526

Interest payable and similar expenses

8,024

6,288

PROFIT FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT
SHARES

549,760

378,238

PROFIT FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT
SHARES

549,760

378,238

Members' remuneration charged as an
expense

5

(413,210

)

(299,313

)

PROFIT FOR THE FINANCIAL YEAR AVAILABLE
FOR DISCRETIONARY DIVISION AMONG
MEMBERS

136,550

78,925

FIXED ASSETS

Tangible assets

6

10,469

8,430

CURRENT ASSETS

Stocks

34,928

27,451

Debtors

7

245,409

174,591

Cash at bank and in hand

5,838,971

3,744,578

6,119,308

3,946,620

CREDITORS

Amounts falling due within one year

8

5,651,258

3,678,527

NET CURRENT ASSETS

468,050

268,093

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

478,519

276,523

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

478,519

276,523

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

478,519

276,523

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 in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 29 December 2025 and were signed by:

Mrs J Boyes - Designated member

C T Jones - Designated member

EQUITY

DEBT

TOTAL

Members'

Loans and other debts due to

MEMBERS'

other

members less any amounts due

INTERESTS

interests

from members in debtors

Other

reserves

amounts

Total

£

Amount due to members

276,523

Amount due from members

-

Balance at 1 April 2024

-

276,523

Members' remuneration charged
as an expense, including
employment and retirement
benefit costs

-

413,210

Profit for the financial year
available for discretionary division
among members

136,550

-

136,550

Members' interests after profit for
the year

136,550

689,733

826,283

Other divisions of profit

(136,550

)

136,550

-

Drawings on account and
distributions of profit

-

(347,764

)

(347,764

)

Amount due to members

478,519

Amount due from members

-

Balance at 31 March 2025

-

478,519

EQUITY

DEBT

TOTAL

Members'

Loans and other debts due to

MEMBERS'

other

members less any amounts due

INTERESTS

interests

from members in debtors

Other

reserves

amounts

Total

£

Amount due to members

326,886

Amount due from members

-

Balance at 1 April 2023

-

326,886

Members' remuneration charged
as an expense, including
employment and retirement
benefit costs

-

299,313

Profit for the financial year
available for discretionary division
among members

78,925

-

78,925

Members' interests after profit for
the year

78,925

626,199

705,124

Other divisions of profit

(78,925

)

78,925

-

Drawings on account and
distributions of profit

-

(428,601

)

(428,601

)

Amount due to members

276,523

Amount due from members

-

Balance at 31 March 2024

-

276,523

1.	STATUTORY INFORMATION

Cross 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Taxation

Taxation on all the LLP's profits is solely the personal liability of individual members and is not dealt with in these financial statements.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 20 (2024 - 21 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.3.25

31.3.24

£

Depreciation - owned assets

2,941

2,164

5.	INFORMATION IN RELATION TO MEMBERS

31.3.25

31.3.24

£

Members' remuneration charged as an expense

Automatic division of profit

413,210

299,313

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

33,464

Additions

4,980

At 31 March 2025

38,444

DEPRECIATION

At 1 April 2024

25,034

Charge for year

2,941

At 31 March 2025

27,975

NET BOOK VALUE

At 31 March 2025

10,469

At 31 March 2024

8,430

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

218,162

142,368

Other debtors

27,247

32,223

245,409

174,591

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade creditors

37,224

41,883

Taxation and social security

60,631

50,179

Other creditors

5,553,403

3,586,465

5,651,258

3,678,527

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

31.3.25

31.3.24

£

Amounts owed to members in respect of profits

478,519

276,523

Falling due within one year

478,519

276,523

Loans and other debts due to members, will rank pari passu with unsecured creditors, in the event of a winding up.