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REGISTERED NUMBER: OC387970

Meikles Solicitors LLP

Filleted Unaudited Financial Statements

31 March 2025

Meikles Solicitors LLP

Financial Statements

Year ended 31 March 2025

Contents | Page

Designated members and professional advisers | 1

Chartered certified accountants report to the members on the preparation of the unaudited statutory financial statements | 2

Statement of financial position | 3

Notes to the financial statements | 5

Meikles Solicitors LLP

Designated Members and Professional Advisers

Designated members | L M Steinberg
| L Simpson
| C E Coates
| P L P Hamill
| S T Hamil

Registered office | 2 Clyde Terrace
| Spennymoor
| Co. Durham
| DL16 7SE

Accountants | Benson Wood Ltd
| Chartered Certified Accountants
| Unit 21, Belasis Court
| Belasis Hall Technology Park
| Billingham
| TS23 4AZ

Meikles Solicitors LLP

Chartered Certified Accountants Report to the Members on the Preparation of the Unaudited Statutory Financial Statements of Meikles Solicitors LLP

Year ended 31 March 2025
In order to assist you to fulfil your duties under 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, we have prepared for your approval the financial statements of Meikles Solicitors LLP for the year ended 31 March 2025, which comprise the statement of financial position and the related notes from the LLP's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the members of Meikles Solicitors LLP, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Meikles Solicitors LLP and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Meikles Solicitors LLP and its members, as a body, for our work or for this report.
It is your duty to ensure that Meikles Solicitors LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Meikles Solicitors LLP. You consider that Meikles Solicitors LLP is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Meikles Solicitors LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Benson Wood Ltd Chartered Certified Accountants
Unit 21, Belasis Court Belasis Hall Technology Park Billingham TS23 4AZ
19 March 2026

Meikles Solicitors LLP

Statement of Financial Position

31 March 2025

| 2025 | 2024
Note | £ | £ | £

Fixed assets

Tangible assets | 5 |  | 835,450 | 840,330

Current assets

Work in progress | 446,382 |  | 571,382
Debtors | 6 | 415,567 |  | 307,499
Cash at bank and in hand | 52,024 |  | 56,867
| --------- |  | ---------
| 913,973 |  | 935,748

Creditors: amounts falling due within one year | 7 | 363,695 |  | 241,904
| --------- |  | ---------
Net current assets |  | 550,278 | 693,844
|  | ------------ | ------------
Total assets less current liabilities |  | 1,385,728 | 1,534,174

Creditors: amounts falling due after more than one year | 8 |  | 482,473 | 513,631
|  | ------------ | ------------
Net assets |  | 903,255 | 1,020,543
|  | ------------ | ------------

Represented by:
Loans and other debts due to members

Other amounts | 9 |  | 347,295 | 452,583

Members' other interests

Members' capital classified as equity |  | 543,475 | 555,475
Revaluation reserve |  | 12,485 | 12,485
Other reserves |  | – | –
|  | --------- | ------------
|  | 903,255 | 1,020,543
|  | --------- | ------------

Total members' interests

Loans and other debts due to members | 9 |  | 347,295 | 452,583
Members' other interests |  | 555,960 | 567,960
|  | --------- | ------------
|  | 903,255 | 1,020,543
|  | --------- | ------------

These 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 statement of comprehensive income has not been delivered.

Meikles Solicitors LLP

Statement of Financial Position (continued)

31 March 2025
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 financial statements .
These financial statements were approved by the members and authorised for issue on 19 March 2026 , and are signed on their behalf by:

L Simpson
Designated Member

Registered number: OC387970

Meikles Solicitors LLP

Notes to the Financial Statements

Year ended 31 March 2025

1. | General information

The LLP is registered in England and Wales. The address of the registered office is 2 Clyde Terrace, Spennymoor, DL16 7SE, Co. Durham.

2. | Statement of compliance

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") 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.

3. | Accounting policies

Basis of preparation
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 £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain assets.
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
Small llps exemption
This report has been prepared in accordance with the special provisions relating to small LLPs within Part 15 of the Companies Act 2006.
Turnover
Turnover represents amounts chargeable to clients for professional services provided during the year excluding sales tax and third-party invoiced disbursements. Revenue is recognised on an individual engagement basis when the right to consideration has been obtained from the client in exchange for work performed and where the recoverability of the consideration can be assessed with reasonable certainty. Turnover in respect of contingent fee assignments (over and above any agreed minimum fee) is only recognised when the contingent event occurs and collectability of the fee is assured. Unbilled turnover on individual client assignments is included within work in progress.
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 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 automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.
Conversely, 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 statement of comprehensive income and are equity appropriations in the statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
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 statement of comprehensive income 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'.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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 | - | 15% reducing balance
| Equipment | - | 25% straight line

Impairment of fixed assets
At each reporting period end date, the limited liability partnership reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the limited liability partnership estimates the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
Work in progress
Services provided to clients which have not been billed at the balance sheet date are recognised as turnover. Turnover recognised in this matter is based on an assessment of fair value of the services provided at the balance sheet date as a proportion of the total value of the assignment. Provision is made against unbilled amounts on those engagements where the right to receive payment is contingent on factors outside the practices control. Costs in respect of contingent fee engagements are written off to the profit and loss account as incurred until the contingent event occurs and recovery of the fee is assured. However, where there is a minimum fee, work in progress is recognised at the lower of cost and the minimum fee.
Financial instruments
The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets: Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Other financial assets: Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment. Impairment of financial assets: Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. Derecognition of financial assets: Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the limited liability partnership transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. Basic financial liabilities: Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Other financial liabilities: Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge. Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.
Defined contribution plans
The LLP operates a defined contribution pension scheme. Contributions are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.

4. | Employee numbers

The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 49 (2024: 47 ).

5. | Tangible assets

| Land and buildings | Fixtures and fittings | Equipment | Total
| £ | £ | £ | £
Cost |  |  |  |
At 1 April 2024 | 825,000 | 26,928 | 162,215 | 1,014,143
Additions | – | – | 2,058 | 2,058
| --------- | -------- | --------- | ------------
At 31 March 2025 | 825,000 | 26,928 | 164,273 | 1,016,201
| --------- | -------- | --------- | ------------
Depreciation |  |  |  |
At 1 April 2024 | – | 18,976 | 154,837 | 173,813
Charge for the year | – | 1,193 | 5,745 | 6,938
| --------- | -------- | --------- | ------------
At 31 March 2025 | – | 20,169 | 160,582 | 180,751
| --------- | -------- | --------- | ------------
Carrying amount |  |  |  |
At 31 March 2025 | 825,000 | 6,759 | 3,691 | 835,450
| --------- | -------- | --------- | ------------
At 31 March 2024 | 825,000 | 7,952 | 7,378 | 840,330
| --------- | -------- | --------- | ------------

6. | Debtors

| 2025 | 2024
| £ | £
Trade debtors | 386,321 | 293,113
Other debtors | 29,246 | 14,386
| --------- | ---------
| 415,567 | 307,499
| --------- | ---------

7. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 30,730 | 30,301
Social security and other taxes | 171,031 | 131,258
Other creditors | 161,934 | 80,345
| --------- | ---------
| 363,695 | 241,904
| --------- | ---------

8. Creditors: amounts falling due after more than one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 178,897 | 210,055
Other creditors | 303,576 | 303,576
| --------- | ---------
| 482,473 | 513,631
| --------- | ---------

9. | Loans and other debts due to members

| 2025 | 2024
| £ | £
Amounts owed to members in respect of profits | 347,295 | 452,583
| --------- | ---------