REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st March 2023 |
for |
New Media Law LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st March 2023 |
for |
New Media Law LLP |
New Media Law LLP (Registered number: OC300982) |
Contents of the Financial Statements |
for the Year Ended 31st March 2023 |
Page |
General information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 4 |
New Media Law LLP |
General Information |
for the Year Ended 31st March 2023 |
Designated members: |
Registered office: |
Registered number: |
Accountants: |
Abacus House |
14-18 Forest Road |
Loughton |
Essex |
IG10 1DX |
New Media Law LLP (Registered number: OC300982) |
Balance Sheet |
31st March 2023 |
2023 | 2022 |
Notes | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investments | 5 |
Current assets |
Work in progress |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
Net assets attributable to members | 35,000 | 35,000 |
Loans and other debts due to members | - | - |
Members' other interests |
Capital accounts | 35,000 | 35,000 |
35,000 | 35,000 |
Total members' interests |
Members' other interests | 35,000 | 35,000 |
Amounts due from members | 6 | (72,258 | ) | (126,651 | ) |
(37,258 | ) | (91,651 | ) |
New Media Law LLP (Registered number: OC300982) |
Balance Sheet - continued |
31st March 2023 |
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. |
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 |
New Media Law LLP (Registered number: OC300982) |
Notes to the Financial Statements |
for the Year Ended 31st March 2023 |
1. | Statutory information |
New Media Law 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 |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing work in progress to their present location and condition. |
Amounts held on behalf of clients |
The LLP holds client's money in client bank accounts set up for this purpose, which are segregated from the LLP's own funds. These balances are held for use while acting for LLP's clients in their legal matters and may only be drawn on by the LLP for that purpose and in accordance with the SRA Accounts Rules and the client' instructions. |
The cash balances do not meet the definition of an asset in the Statement of Principles for Financial Reporting issued by the Financial Reporting Council. |
The corresponding creditor for the balances due to clients has not been recognised in the financial statements, because the balances are repayable out of the money held in client accounts. This would only give rise to a liability of the LLP in the event and to the extent that the cash balances were not sufficient to repay amounts to repay amounts to which clients are entitled. |
New Media Law LLP (Registered number: OC300982) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2023 |
3. | Employee information |
The average number of employees during the year was |
4. | Tangible fixed assets |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
Cost |
At 1st April 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 31st March 2023 |
Depreciation |
At 1st April 2022 |
Charge for year |
At 31st March 2023 |
Net book value |
At 31st March 2023 |
At 31st March 2022 |
5. | Fixed asset investments |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
Cost |
At 1st April 2022 |
and 31st March 2023 | 11,455 |
Net book value |
At 31st March 2023 | 11,455 |
At 31st March 2022 | 11,455 |
New Media Law LLP (Registered number: OC300982) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2023 |
6. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Amounts due from members | 72,258 | 126,651 |
Other debtors |
Prepayments and accrued income |
7. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Other creditors |
Accruals and deferred income |
8. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Bank & other loans |