REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2022 |
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FOR |
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FIONA BRUCE & CO LLP |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2022 |
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FOR |
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FIONA BRUCE & CO LLP |
FIONA BRUCE & CO LLP (REGISTERED NUMBER: OC316529) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
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General Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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FIONA BRUCE & CO LLP |
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GENERAL INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2022 |
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DESIGNATED MEMBERS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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18 Mulberry Avenue |
Turnstone Park |
Widnes |
Cheshire |
WA8 0WN |
FIONA BRUCE & CO LLP (REGISTERED NUMBER: OC316529) |
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ABRIDGED BALANCE SHEET |
31 MARCH 2022 |
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31.3.22 | 31.3.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET ASSETS ATTRIBUTABLE TO MEMBERS | 1,001,565 | 824,564 |
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LOANS AND OTHER DEBTS DUE TO
MEMBERS |
5 |
1,001,565 |
824,564 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 5 | 1,001,565 | 824,564 |
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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. |
FIONA BRUCE & CO LLP (REGISTERED NUMBER: OC316529) |
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ABRIDGED BALANCE SHEET - continued |
31 MARCH 2022 |
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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. |
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The financial statements were approved by the members of the LLP and authorised for issue on
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FIONA BRUCE & CO LLP (REGISTERED NUMBER: OC316529) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
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1. | STATUTORY INFORMATION |
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Fiona Bruce & Co LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of legal services provided during the year. Fair value reflects the amount expected to be recoverable from clients and is based on time spent and expenses incurred. Fee income is stated net of Value Added Tax. |
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Legal services provided to clients during the year which, at the balance sheet date, have not been invoiced to clients, have been recognised as fee income in accordance with Section 23 Revenue of Financial Reporting Standard 102. Fee income recognised in this manner is based on an assessment of the fair value of the services provided by the balance sheet date as a proportion of the total value of the engagement. |
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Unbilled fee income is included as accounts recoverable on contracts within debtors. Amounts recoverable on contracts are stated at fair value where the right to consideration has been obtained. Provision is made against unbilled amounts on those engagements where the right to receive payments is contingent on factors outside the control of the Partnership. Contingent fee income (over and above any agreed minimum fee which is recognised as above) is recognised in the period when the contingent event occurs. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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. |
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3. | EMPLOYEE INFORMATION |
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The average number of employees during the year was
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FIONA BRUCE & CO LLP (REGISTERED NUMBER: OC316529) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
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4. | TANGIBLE FIXED ASSETS |
Totals |
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COST |
At 1 April 2021 |
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Additions |
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At 31 March 2022 |
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DEPRECIATION |
At 1 April 2021 |
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Charge for year |
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At 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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At 31 March 2021 |
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5. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
31.3.22 | 31.3.21 |
£ | £ |
Amounts owed to members in respect of profits | 1,001,565 | 824,564 |
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Falling due within one year | 1,001,565 | 824,564 |
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Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up. |