Clapham & Collinge LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC373858 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2018

FOR

CLAPHAM & COLLINGE LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mrs T T Parnell

Mr B J Lowe

Mr M C Kermez

Mrs L J Whitehead

Mr N Grearson

Mr P S Lumb

Miss R A Farman

REGISTERED OFFICE:

St Catherines House

All Saints Green

Norwich

Norfolk

NR1 3GA

REGISTERED NUMBER:

OC373858 (England and Wales)

ACCOUNTANTS:

Sexty & Co

Chartered Certified Accountants

124 Thorpe Road

Norwich

Norfolk

NR1 1RS

FIXED ASSETS

Intangible assets

4

6,941

15,870

Tangible assets

5

203,686

163,441

210,627

179,311

CURRENT ASSETS

Debtors

6

948,079

1,030,564

Cash in hand

3,756

2,035

951,835

1,032,599

CREDITORS

Amounts falling due within one year

7

610,975

568,804

NET CURRENT ASSETS

340,860

463,795

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

551,487

643,106

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

551,487

643,106

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

551,487

643,106

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 30 April 2018.

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 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.

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 11 December 2018 and were signed by:

Mr M C Kermez - Designated member

1.	STATUTORY INFORMATION

Clapham & Collinge 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Turnover

Turnover represents fee income earned from the provision of legal services in the United Kingdom,

and is stated net of value added tax and reflects the fair value of services provided to each client,

including expenses and disbursements, based on the stage of completion of each assignment at the

balance sheet date.

Services provided during the year to clients which at the balance sheet date have not yet been billed,

are recognised as amounts recoverable on contracts. Provision is made against unbilled amounts on

those client engagements where the right to receive consideration is contingent on factors outside the

control of the limited liability partnership.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of businesses in 2007, is being

written off evenly over its estimated useful life.

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.

Improvements to leasehold property

-

20% on cost

Office Equipment

-

25% on reducing balance

Computer equipment

-

25% on cost

Taxation

The taxation payable on the profits of the limited liability partnership is the personal liability of the

members and consequently neither taxation or related deferred taxation are provided for in the

financial statements.

Sums set aside in respect of members' tax obligations are included in the balance sheet within loans

and other debts due to members.

Members' capital

Members' capital is repayable and is therefore classified as a liability. Other than in exceptional cases,

it is not repaid until after retirement. Typically capital is repaid within three years of serving notice, and

members' capital is therefore shown as being due after more than one year notwithstanding that

repayment could be made earlier at the discretion of the members.

Members’ remuneration

Associate members

The share of profits payable to associate members is discretionary on the part of the limited liability

partnership and are reported as 'members' other interests'

Full members

Profit remaining after sums allocated to associate members is automatically allocated and are treated

as members’ remuneration charged as an expense to the profit and loss account.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 31 (2017 - 31 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2017

and 30 April 2018

104,286

AMORTISATION

At 1 May 2017

88,416

Charge for year

8,929

At 30 April 2018

97,345

NET BOOK VALUE

At 30 April 2018

6,941

At 30 April 2017

15,870

5.	TANGIBLE FIXED ASSETS

Improvements

to

leasehold

Office

Computer

property

Equipment

equipment

Totals

£

£

£

£

COST

At 1 May 2017

168,833

130,048

329,455

628,336

Additions

10,420

7,558

95,336

113,314

Disposals

(805

)

-

-

(805

)

At 30 April 2018

178,448

137,606

424,791

740,845

DEPRECIATION

At 1 May 2017

92,839

90,327

281,729

464,895

Charge for year

31,036

10,604

30,892

72,532

Eliminated on disposal

(268

)

-

-

(268

)

At 30 April 2018

123,607

100,931

312,621

537,159

NET BOOK VALUE

At 30 April 2018

54,841

36,675

112,170

203,686

At 30 April 2017

75,994

39,721

47,726

163,441

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

346,977

380,196

Amounts recoverable on contracts

419,983

421,005

Other debtors

181,119

229,363

948,079

1,030,564

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank overdraft

89,887

195,723

Trade creditors

109,330

68,466

Taxation and social security

115,472

114,504

Other creditors

296,286

190,111

610,975

568,804

8.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank overdrafts

89,887

195,723

The bank overdraft is secured by a debenture containing fixed and floating charges.

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2018

2017

£

£

Amounts owed to members in respect of profits

220,862

281,856

Capital account

330,625

361,250

551,487

643,106

Falling due within one year

220,862

281,856

Falling due after more than one year

330,625

361,250

551,487

643,106

Loans and other debts due to members rank pari passu with unsecured creditors.

10.	OTHER FINANCIAL COMMITMENTS

The LLP has operating lease commitments of £117,560 (2017 £117,560).

11.	RELATED PARTY DISCLOSURES

The LLP occupies a leasehold property which is owned by a pension scheme of which Mr H Berridge

(designated member until 1 May 2018) is amongst the trustees. The annual rent payable by the LLP

under the terms of a commercial lease agreement of 15 years from 16 March 2005 is £88,200.

The LLP occupies a second leasehold property which is owned by 3 of the equity members. The

annual rent payable by the LLP under the terms of a commercial lease agreement of 6 years from 1

February 2015 is £14,260.