General Information
Davison Flynn Duke Solicitors LLP is a limited liability partnership, registered in England & Northern Ireland, registration number OC421226, registration address 128 Chester Street, Birkenhead, Merseyside , CH41 5DL.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
The accounts have been prepared in accordance with the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in 2017, together with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern basis
At the time of approving the financial statements, the members have a reasonable expectation that the limited liability partnership has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover represents the total value, excluding value added tax, of the sales made during the year and derived from the provision of services falling within the limited liability partnership's ordinary activities.
Government grants
Government grants represent Covid-19 related funding received from HM Government and the local authority in the form of Self-Employment Income Support Scheme monies and a business interruption grant, recognised in the financial statements once eligibility has been established.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Motor Vehicles |
25% Reducing Balance
|
| Fixtures and Fittings |
25% Reducing Balance
|
Work in Progress
Work in Progress is valued at net realisable value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 4 (2024 : 2).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Motor Vehicles |
|
Fixtures and Fittings |
|
Computer Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
| At 01 April 2024 |
- |
|
2,074 |
|
- |
|
2,074 |
| Additions |
9,500 |
|
- |
|
712 |
|
10,212 |
| Disposals |
- |
|
- |
|
- |
|
- |
| At 31 March 2025 |
9,500 |
|
2,074 |
|
712 |
|
12,286 |
| Depreciation |
| At 01 April 2024 |
- |
|
1,582 |
|
- |
|
1,582 |
| Charge for year |
2,375 |
|
123 |
|
59 |
|
2,557 |
| On disposals |
- |
|
- |
|
- |
|
- |
| At 31 March 2025 |
2,375 |
|
1,705 |
|
59 |
|
4,139 |
| Net book values |
| Closing balance as at 31 March 2025 |
7,125 |
|
369 |
|
653 |
|
8,147 |
| Opening balance as at 01 April 2024 |
- |
|
492 |
|
- |
|
492 |
|
| 4. |
Stocks
|
2025
£ |
|
2024
£ |
| Work in Progress |
13,181 |
|
9,211 |
|
13,181 |
|
9,211 |
|
| 5. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Debtors |
5,003 |
|
0 |
| Prepayments & Accrued Income |
1,166 |
|
1,024 |
| Other Debtors |
44,804 |
|
36,873 |
|
50,973 |
|
37,897 |
|
| 6. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Bank Loans & Overdrafts |
54,595 |
|
44,129 |
| PAYE & Social Security |
6,761 |
|
6,208 |
| Accrued Expenses |
3,515 |
|
7,031 |
| Other Creditors |
2,825 |
|
1,603 |
| VAT |
42,737 |
|
24,214 |
|
110,433 |
|
83,185 |
|
| 7. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Bank Loans & Overdrafts |
30,952 |
|
49,708 |
|
30,952 |
|
49,708 |
Security
Bank loans include a Bounce Back Loan.
|
| 8. |
Members' Interests
|
Other reserves |
|
Loans and other debts due to members less any amounts due from members included in debtors |
|
Total |
|
| Balance at 01 April 2024 |
0 |
|
(74,018) |
|
(74,018) |
| Profit for the period available for discretionary division among members |
97,732 |
|
0 |
|
97,732 |
| Members' interests after profit for the period |
97,732 |
|
(74,018) |
|
23,714 |
| Other divisions of profits |
0 |
|
0 |
|
0 |
| Drawings |
0 |
|
(133,493) |
|
(133,493) |
| Other movements |
0 |
|
38,209 |
|
38,209 |
| Balance at 31 March 2025 |
97,732 |
|
(169,302) |
|
(71,570) |
| |
|
2
|