Nelson Legal LLP,Ltd - AccountsLLP- Accounts

Nelson Legal LLP,Ltd - AccountsLLP- Accounts

NELSON LEGAL LLP - Company Information

Print Friendly Version

2018-04-01 OC353099 2019-03-31 OC353099 2018-04-01 2019-03-31 OC353099 2018-03-31 OC353099 2017-04-01 2018-03-31 OC353099 uk-core:WithinOneYear 2018-03-31 OC353099 uk-core:WithinOneYear 2019-03-31 OC353099 uk-bus:PartnerLLP1 2018-04-01 2019-03-31 OC353099 uk-bus:PartnerLLP2 2018-04-01 2019-03-31 OC353099 uk-core:ComputerEquipment 2018-04-01 2019-03-31 OC353099 uk-core:FurnitureFittings 2018-04-01 2019-03-31 OC353099 uk-core:ComputerEquipment 2018-03-31 OC353099 uk-core:FurnitureFittings 2018-03-31 OC353099 uk-core:FurnitureFittings 2019-03-31 OC353099 uk-core:ComputerEquipment 2019-03-31 iso4217:GBP OC353099 uk-bus:AuditExemptWithAccountantsReport 2018-04-01 2019-03-31 OC353099 uk-bus:FRS102 2018-04-01 2019-03-31 OC353099 uk-bus:FullAccounts 2018-04-01 2019-03-31 OC353099 uk-bus:LimitedLiabilityPartnershipLLP 2018-04-01 2019-03-31
Nelson Legal LLP
Registered Number:OC353099
For the year ended 31 March 2019
England and Wales
Report of the Members and Unaudited Financial Statements
2
For the year ended 31 March 2019
Nelson Legal LLP
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
As at 31 March 2019
Nelson Legal LLP
Statement of Financial Position
Registered Number :
OC353099
2018
£
£
2019
Notes
Fixed assets
Property, plant and equipment
2,465
2,899
3
2,465
2,899
Current assets
Trade and other receivables
118,614
91,593
4
10,251
-
Cash and cash equivalents
101,844
118,614
Trade and other payables: amounts falling due within one
year
(121,430)
(103,918)
5
(2,816)
(2,074)
Net current liabilities
Total assets less current liabilities
391
83
391
Net assets attributable to members
83
Members' other interests
Other reserves
391
83
391
83
391
83
Total members' interests
Members' other interests
391
83
391
83
For the year ended 31 March 2019 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:(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
(b) preparing financial statements which give a true and fair view of the state of affair of the LLP as at the end of
each financial year and of its profit or loss for each 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 Liabilities Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements are prepared in accordance with the provisions applicable to LLP's subject to the small LLP's regime.
Giles NelsonDesignated Member Director
Matthew ComerDesignated Member Director
These financial statements were approved by the members on 21 November 2019 and signed on their behalf by:
1 of 3
4
For the year ended 31 March 2019
Nelson Legal LLP
Notes to the Financial Statements
1. Accounting policies
Statutory Information
Nelson Legal LLP is a limited liability partnership, domiciled in England and Wales, registration number
OC353099.
Registered address:
Victory House
172 Wells Road
Bristol
BS4 2AL
The presentation currency is £ sterling.
Basis of preparation
The report and financial statements for the year ended 31 March 2019 have been prepared under the historical
cost convention and in accordance with the Section 1A of Financial Reporting Standard 102 'The Financial
Reporting Standard applicable in the UK and Republic of Ireland' and the Statement of Recommended Practice
"Accounting by Limited Liability Partnerships".
Turnover
Turnover comprises the value of sales (excluding VAT and similar taxes and trade discounts) of goods and services in the normal course of business. An appropriate amount is included in turnover for income due on cases that have not concluded at the balance sheet date but have reached a stage where there is sufficient progress to ensure the recoverability of fee income.
Depreciation of 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:
25% Straight line
Computer equipment
15% Reducing balance
Fixtures and fittings
Leasing and hire purchase commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
2. Interest payable and similar charges
2019
2018
£
£
Interest payable on bank borrowing
-
288
Other similar charges payable
1,278
-
1,278
288
2 of 3
5
For the year ended 31 March 2019
Nelson Legal LLP
Notes to the Financial Statements Continued
3. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
£
£
£
Cost or
valuation
At 01 April 2018
15,116
6,082
9,034
At 31 March 2019
9,034
6,082
15,116
Provision for depreciation and impairment
At 01 April 2018
12,217
6,079
6,138
Charge for year
434
-
434
At 31 March 2019
12,651
6,079
6,572
At 31 March 2019
Net book value
2,462
3
2,465
At 31 March 2018
2,896
3
2,899
4. Trade and other receivables
2019
2018
£
£
Trade debtors
24,356
12,808
Prepayments & accrued income
67,037
105,806
Other debtors
200
-
91,593
118,614
5. Trade and other payables: amounts falling due within one year
2018
2019
£
£
Bank loans and overdraft
1,296
1,328
Trade creditors
91,335
105,811
Taxation and social security
11,255
14,323
103,918
121,430
6. Related party transactions
Nelson Legal U.K. Ltd, a company over which the members of the LLP had a controlling interest..
The LLP received legal services from Nelson Legal U.K. Ltd during the year amounting to £263,500 (2018:
£285,000) which are included within Cost of Sales.
The amount oustanding at the balance sheet date was £90,860 (2017: £105,811), included within Trade
debtors.
3 of 3