Nelson Legal LLP,Ltd - AccountsLLP- Accounts

Nelson Legal LLP,Ltd - AccountsLLP- Accounts

NELSON LEGAL LLP - Company Information

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2016-04-01 OC353099 2017-03-31 OC353099 2016-04-01 2017-03-31 OC353099 2016-03-31 OC353099 2015-04-01 2016-03-31 OC353099 uk-core:WithinOneYear 2016-03-31 OC353099 uk-core:WithinOneYear 2017-03-31 OC353099 uk-core:AfterOneYear 2016-03-31 OC353099 uk-core:AfterOneYear 2017-03-31 OC353099 uk-bus:PartnerLLP1 2016-04-01 2017-03-31 OC353099 uk-bus:PartnerLLP2 2016-04-01 2017-03-31 OC353099 uk-core:ComputerEquipment 2016-04-01 2017-03-31 OC353099 uk-core:FurnitureFittings 2016-04-01 2017-03-31 OC353099 uk-core:ComputerEquipment 2016-03-31 OC353099 uk-core:FurnitureFittings 2016-03-31 OC353099 uk-core:FurnitureFittings 2017-03-31 OC353099 uk-core:ComputerEquipment 2017-03-31 OC353099 uk-core:WithinOneYear 2017-03-31 OC353099 uk-core:WithinOneYear 2016-03-31 OC353099 uk-core:AfterOneYear uk-core:Secured 2016-03-31 OC353099 uk-core:AfterOneYear uk-core:Secured 2017-03-31 iso4217:GBP OC353099 uk-bus:AuditExemptWithAccountantsReport 2016-04-01 2017-03-31 OC353099 uk-bus:FRS102 2016-04-01 2017-03-31 OC353099 uk-bus:FullAccounts 2016-04-01 2017-03-31 OC353099 uk-bus:LimitedLiabilityPartnershipLLP 2016-04-01 2017-03-31
Nelson Legal LLP
Registered Number:OC353099
For the year ended 31 March 2017
England and Wales
Report of the Members and Unaudited Financial Statements
2
For the year ended 31 March 2017
Nelson Legal LLP
Contents Page
1
Statement of Financial Position
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Notes to the Financial Statements
3
As at 31 March 2017
Nelson Legal LLP
Statement of Financial Position
Registered Number :
OC353099
2016
£
£
2017
Notes
Fixed assets
Property, plant and equipment
3,410
4,011
3
3,410
4,011
Current assets
Trade and other receivables
135,174
123,937
4
302
27,468
Cash and cash equivalents
124,239
162,642
Trade and other payables: amounts falling due within one
year
(155,764)
(127,090)
5
6,878
(2,851)
Net current liabilities
Total assets less current liabilities
559
10,889
Trade and other payables: amounts falling due after more
than one year
(10,300)
-
6
559
Net assets attributable to members
589
Represented by:
Members' other interests
Other reserves
559
589
559
589
559
589
Total members' interests
Members' other interests
559
589
559
589
For the year ended 31 March 2017 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.
These financial statements have been prepared in accordance with the provisions of Part 15 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 small LLPs and with Section 1A of Financial Reporting Standard 102
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4
For the year ended 31 March 2017
Nelson Legal LLP
Statement of Financial Position Continued
Giles NelsonDesignated Member Director
Matthew ComerDesignated Member Director
These financial statements were approved by the members on 18 September 2017 and signed on their behalf by:
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5
For the year ended 31 March 2017
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 2017 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.
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
2017
2016
£
£
Interest payable on bank borrowing
1,018
2,084
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6
For the year ended 31 March 2017
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 2016
15,116
6,082
9,034
At 31 March 2017
9,034
6,082
15,116
Provision for depreciation and impairment
At 01 April 2016
11,105
6,079
5,026
Charge for year
601
-
601
At 31 March 2017
11,706
6,079
5,627
At 31 March 2017
Net book value
3,407
3
3,410
At 31 March 2016
4,008
3
4,011
4. Trade and other receivables
2017
2016
£
£
Trade debtors
23,253
31,185
Prepayments & accrued income
100,684
101,624
Other debtors
-
2,365
123,937
135,174
5. Trade and other payables: amounts falling due within one year
2016
2017
£
£
Bank loans and overdraft
10,300
12,979
Bank loans and overdraft
-
4,404
Trade creditors
99,163
123,299
Taxation and social security
13,223
19,486
127,090
155,764
6. Trade and other payables: amounts falling due after more than one year
2017
2016
£
£
10,300
-
Bank loans and overdraft
7. Related party transactions
During the year the LLP received services from Nelson Legal U.K. Ltd (formerly Nelson & Comer Ltd), a
company over which the members of the LLP had a controlling interest. The LLP received legal services from
the Company during the year amounting to £301,000 (2016: £374,000) which are included within Cost of Sales.
The total outstanding at the balance sheet date included with Creditors Falling Due Within One Year was
£92,017, (£116,374)
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