Nelson Legal LLP,Ltd - AccountsLLP- Accounts

Nelson Legal LLP,Ltd - AccountsLLP- Accounts

NELSON LEGAL LLP - Company Information

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2017-04-01 OC353099 2018-03-31 OC353099 2017-04-01 2018-03-31 OC353099 2017-03-31 OC353099 2016-04-01 2017-03-31 OC353099 uk-core:WithinOneYear 2017-03-31 OC353099 uk-core:WithinOneYear 2018-03-31 OC353099 uk-bus:PartnerLLP1 2017-04-01 2018-03-31 OC353099 uk-bus:PartnerLLP2 2017-04-01 2018-03-31 OC353099 uk-core:ComputerEquipment 2017-04-01 2018-03-31 OC353099 uk-core:FurnitureFittings 2017-04-01 2018-03-31 OC353099 uk-core:ComputerEquipment 2017-03-31 OC353099 uk-core:FurnitureFittings 2017-03-31 OC353099 uk-core:FurnitureFittings 2018-03-31 OC353099 uk-core:ComputerEquipment 2018-03-31 OC353099 uk-core:WithinOneYear 2018-03-31 OC353099 uk-core:WithinOneYear 2017-03-31 iso4217:GBP OC353099 uk-bus:AuditExemptWithAccountantsReport 2017-04-01 2018-03-31 OC353099 uk-bus:FRS102 2017-04-01 2018-03-31 OC353099 uk-bus:FullAccounts 2017-04-01 2018-03-31 OC353099 uk-bus:LimitedLiabilityPartnershipLLP 2017-04-01 2018-03-31
Nelson Legal LLP
Registered Number:OC353099
For the year ended 31 March 2018
England and Wales
Report of the Members and Unaudited Financial Statements
2
For the year ended 31 March 2018
Nelson Legal LLP
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
As at 31 March 2018
Nelson Legal LLP
Statement of Financial Position
Registered Number :
OC353099
2017
£
£
2018
Notes
Fixed assets
Property, plant and equipment
2,899
3,410
3
2,899
3,410
Current assets
Trade and other receivables
123,937
118,614
4
-
302
Cash and cash equivalents
118,614
124,239
Trade and other payables: amounts falling due within one
year
(127,090)
(121,430)
5
(2,851)
(2,816)
Net current liabilities
Total assets less current liabilities
83
559
83
Net assets attributable to members
559
Members' other interests
Other reserves
83
559
83
559
83
559
Total members' interests
Members' other interests
83
559
83
559
For the year ended 31 March 2018 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.
Giles NelsonDesignated Member Director
Matthew ComerDesignated Member Director
These financial statements were approved by the members on 02 November 2018 and signed on their behalf by:
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4
For the year ended 31 March 2018
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 2018 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
2018
2017
£
£
Interest payable on bank borrowing
288
1,018
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5
For the year ended 31 March 2018
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 2017
15,116
6,082
9,034
At 31 March 2018
9,034
6,082
15,116
Provision for depreciation and impairment
At 01 April 2017
11,706
6,079
5,627
Charge for year
511
-
511
At 31 March 2018
12,217
6,079
6,138
At 31 March 2018
Net book value
2,896
3
2,899
At 31 March 2017
3,407
3
3,410
4. Trade and other receivables
2018
2017
£
£
Trade debtors
12,808
23,253
Prepayments & accrued income
105,806
100,684
118,614
123,937
5. Trade and other payables: amounts falling due within one year
2017
2018
£
£
Bank loans and overdraft
-
10,300
Bank loans and overdraft
4,404
1,296
Trade creditors
105,811
99,163
Taxation and social security
14,323
13,223
121,430
127,090
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6
For the year ended 31 March 2018
Nelson Legal LLP
Notes to the Financial Statements Continued
6. Related party transactions
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 Nelson Legal U.K. Ltd during the year amounting to £285,000 (2017:
£301,000) which are included within Cost of Sales.
The amount oustanding at the balance sheet date was £105,811 (2017: £92,017), included within Trade creditors.
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