Sneddons Solicitors LLP Filleted accounts for Companies House (small and micro)

REGISTERED NUMBER: SO307336

Sneddons Solicitors LLP

Filleted Unaudited Abridged Financial Statements

For the year ended

31 March 2025

Sneddons Solicitors LLP

Abridged Financial Statements

Year ended 31 March 2025

Contents	Page

Abridged statement of financial position	1

Notes to the abridged financial statements	3

Sneddons Solicitors LLP

Abridged Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Intangible assets	5	49,000	56,000
Tangible assets	6	3,740	4,363
		--------	--------
		52,740	60,363

Current assets

Debtors	73,875	69,404
Cash at bank and in hand	1,694,224	1,680,095
	------------	------------
	1,768,099	1,749,499

Creditors: amounts falling due within one year	1,477,532	1,621,196
	------------	------------
Net current assets	290,567	128,303
	---------	---------
Total assets less current liabilities	343,307	188,666
	---------	---------
Net assets	343,307	188,666
	---------	---------

Represented by:

Loans and other debts due to members

Other amounts	7	343,307	188,666
		---------	---------

Members' other interests

Other reserves	–	–
	---------	---------
	343,307	188,666
	---------	---------

Total members' interests

Loans and other debts due to members	7	343,307	188,666
Members' other interests		–	–
		---------	---------
		343,307	188,666
		---------	---------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the abridged statement of comprehensive income has not been delivered.

For the year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of abridged financial statements .

Sneddons Solicitors LLP

Abridged Statement of Financial Position (continued)

31 March 2025

All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006 as applied to limited liability partnerships by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

These abridged financial statements were approved by the members and authorised for issue on 22 December 2025 , and are signed on their behalf by:

Mr B Lawson	Miss J Keane
Designated Member	Designated Member

Registered number: SO307336

Sneddons Solicitors LLP

Notes to the Abridged Financial Statements

Year ended 31 March 2025

1.	General information

The LLP is registered in Scotland. The address of the registered office is 47-49 West Main Street, Armadale, West Lothian, EH48 3PZ.

2.	Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP 2021).

3.	Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis . The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the income statement and are equity appropriations in the Statement of financial position.

All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the income statement within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the LLP's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	Straight line over 10 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures and fittings	-	40% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4.	Employee numbers

The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 8 (2024: 10 ).

5.	Intangible assets

	£
Cost
At 1 April 2024 and 31 March 2025	70,000
	--------
Amortisation
At 1 April 2024	14,000
Charge for the year	7,000
	--------
At 31 March 2025	21,000
	--------
Carrying amount
At 31 March 2025	49,000
	--------
At 31 March 2024	56,000
	--------

6.	Tangible assets

	£
Cost
At 1 April 2024	8,097
Additions	1,283
Disposals	( 333)
	-------
At 31 March 2025	9,047
	-------
Depreciation
At 1 April 2024	3,734
Charge for the year	1,742
Disposals	( 169)
	-------
At 31 March 2025	5,307
	-------
Carrying amount
At 31 March 2025	3,740
	-------
At 31 March 2024	4,363
	-------

7.	Loans and other debts due to members

	2025	2024
	£	£
Amounts owed to members in respect of profits	343,307	188,666
	---------	---------

8.	Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	1,593	2,348
	-------	-------