Nelson Legal LLP,Ltd - AccountsLLP- Accounts

Nelson Legal LLP,Ltd - AccountsLLP- Accounts

NELSON LEGAL LLP - Company Information

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2020-04-01 OC353099 2021-03-31 OC353099 2020-04-01 2021-03-31 OC353099 2020-03-31 OC353099 2019-04-01 2020-03-31 OC353099 uk-core:WithinOneYear 2020-03-31 OC353099 uk-core:WithinOneYear 2021-03-31 OC353099 uk-core:AfterOneYear 2020-03-31 OC353099 uk-core:AfterOneYear 2021-03-31 OC353099 uk-bus:PartnerLLP1 2020-04-01 2021-03-31 OC353099 uk-bus:PartnerLLP2 2020-04-01 2021-03-31 OC353099 uk-core:ComputerEquipment 2020-04-01 2021-03-31 OC353099 uk-core:FurnitureFittings 2020-04-01 2021-03-31 OC353099 uk-core:ComputerEquipment 2020-03-31 OC353099 uk-core:FurnitureFittings 2020-03-31 OC353099 uk-core:FurnitureFittings 2021-03-31 OC353099 uk-core:ComputerEquipment 2021-03-31 OC353099 uk-core:WithinOneYear 2021-03-31 OC353099 uk-core:WithinOneYear 2020-03-31 OC353099 uk-core:AfterOneYear uk-core:Secured 2020-03-31 OC353099 uk-core:AfterOneYear uk-core:Secured 2021-03-31 iso4217:GBP xbrli:pure OC353099 uk-bus:AuditExemptWithAccountantsReport 2020-04-01 2021-03-31 OC353099 uk-bus:FRS102 2020-04-01 2021-03-31 OC353099 uk-bus:FullAccounts 2020-04-01 2021-03-31 OC353099 uk-bus:LimitedLiabilityPartnershipLLP 2020-04-01 2021-03-31
Nelson Legal LLP
Registered Number:OC353099
For the year ended 31 March 2021
England and Wales
Report of the Members and Unaudited Financial Statements
2
For the year ended 31 March 2021
Nelson Legal LLP
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
OC353099
Registered Number :
As at 31 March 2021
Nelson Legal LLP
Statement of Financial Position
2020
£
£
2021
Notes
Fixed assets
Property, plant and equipment
1,781
2,095
2
1,781
2,095
Current assets
Trade and other receivables
96,558
90,319
3
26,016
16,124
Cash and cash equivalents
116,335
112,682
Trade and other payables: amounts falling due within one
year
(113,092)
(73,621)
4
(410)
42,714
Net current assets
Total assets less current liabilities
44,495
1,685
Trade and other payables: amounts falling due after more
than one year
-
(42,503)
5
1,992
Net assets attributable to members
1,685
Members' other interests
Other reserves
1,992
1,685
1,992
1,685
1,992
1,685
Total members' interests
Members' other interests
1,992
1,685
1,992
1,685
For the year ended 31 March 2021 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 Companies Act 2006) Regulations 2008, and
(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 2008
relating to the financial statements, so far as applicable to the LLP
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.
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4
OC353099
Registered Number :
For the year ended 31 March 2021
Nelson Legal LLP
Statement of Financial Position Continued
Giles NelsonDesignated Member
Matthew ComerDesignated Member
These financial statements were approved by the members on 07 October 2021 and signed on their behalf by:
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5
For the year ended 31 March 2021
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:
Corona Buildings
Wood Road
Kingswood
Bristol
BS15 8DT
The presentation currency is £ sterling.
Basis of preparation
The report and financial statements for the year ended 31 March 2021 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. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
£
£
£
Cost or
valuation
At 01 April 2020
15,116
6,082
9,034
At 31 March 2021
9,034
6,082
15,116
Provision for depreciation and impairment
At 01 April 2020
13,021
6,079
6,942
Charge for year
314
-
314
At 31 March 2021
13,335
6,079
7,256
At 31 March 2021
Net book value
1,778
3
1,781
At 31 March 2020
2,092
3
2,095
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6
For the year ended 31 March 2021
Nelson Legal LLP
Notes to the Financial Statements Continued
3. Trade and other receivables
2021
2020
£
£
Trade debtors
2,510
4,796
Prepayments & accrued income
87,609
91,562
Other debtors
200
200
90,319
96,558
4. Trade and other payables: amounts falling due within one year
2020
2021
£
£
Bank loans and overdraft
7,497
2,457
Trade creditors
60,082
97,575
Taxation and social security
6,042
13,060
73,621
113,092
5. Trade and other payables: amounts falling due after more than one year
2021
2020
£
£
-
42,503
Bank loans and overdraft
6. Average number of persons employed
During the year the average number of employees was 0
7. 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 £202,000 (2020:
£298,000 which are included within Cost of Sales.
The amount outstanding at the balance sheet date was £59,401 (2020: £95,843), included within Trade and other
payables falling due within one year.
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