Ben Hoare Bell LLP - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: OC314642 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2022

for

Ben Hoare Bell LLP

Page

General Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

R K Hardy

C McCurley

A Kelly

REGISTERED OFFICE:

19 John Street

Sunderland

Tyne & Wear

SR1 1JG

REGISTERED NUMBER:

OC314642 (England and Wales)

ACCOUNTANTS:

TTR Barnes Limited

Chartered Accountants

3-5 Grange Terrace

Stockton Road

Sunderland

Tyne & Wear

SR2 7DG

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

24,681

65,643

24,681

65,643

CURRENT ASSETS

Debtors

6

1,347,039

1,492,576

Cash at bank and in hand

1,160,434

1,373,301

2,507,473

2,865,877

CREDITORS

Amounts falling due within one year

7

554,211

932,567

NET CURRENT ASSETS

1,953,262

1,933,310

TOTAL ASSETS LESS CURRENT LIABILITIES

1,977,943

1,998,953

CREDITORS

Amounts falling due after more than one year

8

369,179

525,824

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,608,764

1,473,129

LOANS AND OTHER DEBTS DUE TO MEMBERS

1,608,764

1,473,129

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

1,608,764

1,473,129

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2022.

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 financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

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 and authorised for issue on 24 October 2022 and were signed by:

R K Hardy - Designated member

A Kelly - Designated member

1.	STATUTORY INFORMATION

Ben Hoare Bell 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future, which the members consider appropriate.

Turnover

Turnover represents amounts due in respect of legal services provided during the year, net of Value Added Tax.

Services provided to clients during the year which, at the balance sheet date, have not been invoiced to clients have been recognised as turnover in accordance with the FRS102. Turnover recognised in th is manner is based on an assessment of the fair value of services provided by the balance sheet date as a proportion of the total value of the engagement. Provision is made against unbilled amounts on those engagements where the right to receive payment is contingent on factors outside the control of the LLP.

Goodwill

Goodwill is fully amortised.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

10% on cost

Long leasehold

-

10% on cost

Improvements to Property

-

10% on cost

Fixtures and fittings

-

10% on cost

Computer equipment

-

33% Straight line

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

Leased assets

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis over the lease term.

Pension costs and other post-retirement benefits

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.

Tax provisions

Taxation on the profits of the LLP is solely the liability of individual members. Therefore, neither income tax nor deferred tax arising in respect of the LLP's profit is included in these financial statements.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 68 (2021 - 73 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2021

and 31 March 2022

73,912

AMORTISATION

At 1 April 2021

and 31 March 2022

73,912

NET BOOK VALUE

At 31 March 2022

-

At 31 March 2021

-

5.	TANGIBLE FIXED ASSETS

Improvements

Short

Long

to

leasehold

leasehold

Property

£

£

£

COST

At 1 April 2021

1,456

14,747

59,917

Additions

-

-

-

At 31 March 2022

1,456

14,747

59,917

DEPRECIATION

At 1 April 2021

1,299

14,747

59,748

Charge for year

145

-

140

At 31 March 2022

1,444

14,747

59,888

NET BOOK VALUE

At 31 March 2022

12

-

29

At 31 March 2021

157

-

169

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2021

308,175

230,546

614,841

Additions

-

7,346

7,346

At 31 March 2022

308,175

237,892

622,187

DEPRECIATION

At 1 April 2021

303,444

169,960

549,198

Charge for year

4,064

43,959

48,308

At 31 March 2022

307,508

213,919

597,506

NET BOOK VALUE

At 31 March 2022

667

23,973

24,681

At 31 March 2021

4,731

60,586

65,643

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

453,325

442,089

Debtors due under contracts

801,613

990,952

Prepayments

92,101

59,535

1,347,039

1,492,576

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Taxation due

213,324

546,237

Social security and other taxes

146,749

292,823

Other creditors

61,128

6,621

Former members loan accounts

104,323

52,000

Accrued expenses

28,687

34,886

554,211

932,567

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Former members loan accounts

369,179

525,824

The other creditors are unsecured former members loans, which attract interest at 0.75%.