The Worcester Family Law Practice LLP - Accounts to registrar (filleted) - small 18.2
The Worcester Family Law Practice LLP - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st August 2019 |
for |
The Worcester Family Law Practice LLP |
The Worcester Family Law Practice LLP (Registered number: OC401231) |
Contents of the Financial Statements |
for the Year Ended 31st August 2019 |
Page |
General Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
The Worcester Family Law Practice LLP |
General Information |
for the Year Ended 31st August 2019 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Thorneloe House |
25 Barbourne Road |
Worcester |
Worcestershire |
WR1 1RU |
The Worcester Family Law Practice LLP (Registered number: OC401231) |
Abridged Balance Sheet |
31st August 2019 |
2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
61,018 |
80,434 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
6 |
61,018 |
80,434 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 6 | 61,018 | 80,434 |
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 Worcester Family Law Practice LLP (Registered number: OC401231) |
Abridged Balance Sheet - continued |
31st August 2019 |
In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered. |
The financial statements were approved by the members of the LLP on |
The Worcester Family Law Practice LLP (Registered number: OC401231) |
Notes to the Financial Statements |
for the Year Ended 31st August 2019 |
1. | STATUTORY INFORMATION |
The Worcester Family Law Practice 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 |
TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
Turnover represents the value of services provided to the extent that there is a right to consideration and it is |
recorded at the value of the consideration due. Where a service has only been partially completed at the |
balance sheet date, turnover represents the value of the services provided to that date on a proportion of the |
total expected consideration at completion. |
TANGIBLE FIXED ASSETS |
Plant and machinery etc | - |
OPERATING LEASES |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
PENSION COSTS |
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme |
are charged to profit or loss in the period to which they relate. |
BASIC FINANCIAL INSTRUMENTS |
The company 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 when the company becomes party to contractual provisions of the |
instrument. |
Financial assets are offset, with the net amounts presented in the accounts where 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 trade and other receivables 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. |
Basic Financial Liabilities |
Basic Financial liabilities, including trade and other payables, are initially recognised at transaction price unless |
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value |
of future receipts, discounted at a market rate of interest. Debt instruments are subsequently carried at |
amortised cost, using the effective interest rate method. |
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of |
the operations from suppliers. Accounts 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 payables are recognised initially at |
transaction cost. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
The Worcester Family Law Practice LLP (Registered number: OC401231) |
Notes to the Financial Statements - continued |
for the Year Ended 31st August 2019 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st September 2018 |
Additions |
At 31st August 2019 |
DEPRECIATION |
At 1st September 2018 |
Charge for year |
At 31st August 2019 |
NET BOOK VALUE |
At 31st August 2019 |
At 31st August 2018 |
5. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2019 | 2018 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
6. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members rank pari passu with ordinary creditors in the event of a winding up. |