|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 31 March 2018 |
|
for |
|
V&S Solicitors LLP |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 31 March 2018 |
|
for |
|
V&S Solicitors LLP |
V&S Solicitors LLP (Registered number: OC344486) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 31 March 2018 |
|
|
|
|
Page |
|
General Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
V&S Solicitors LLP |
|
General Information |
for the Year Ended 31 March 2018 |
|
|
|
|
|
|
|
DESIGNATED MEMBERS: |
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
8th Floor |
Connect Centre |
Kingston Crescent |
Portsmouth |
Hampshire |
PO2 8QL |
V&S Solicitors LLP (Registered number: OC344486) |
|
Balance Sheet |
31 March 2018 |
|
2018 | 2017 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
|
|
Debtors | 5 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
and |
NET ASSETS ATTRIBUTABLE TO
MEMBERS |
11,786 |
11,636 |
|
LOANS AND OTHER DEBTS DUE TO
MEMBERS |
7 |
1,786 |
1,636 |
|
MEMBERS' OTHER INTERESTS |
Capital accounts | 10,000 | 10,000 |
11,786 | 11,636 |
|
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 7 | 1,786 | 1,636 |
Members' other interests | 10,000 | 10,000 |
11,786 | 11,636 |
|
|
|
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. |
V&S Solicitors LLP (Registered number: OC344486) |
|
Balance Sheet - continued |
31 March 2018 |
|
|
|
|
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
|
|
|
|
|
|
|
V&S Solicitors LLP (Registered number: OC344486) |
|
Notes to the Financial Statements |
for the Year Ended 31 March 2018 |
|
1. | STATUTORY INFORMATION |
|
V&S Solicitors LLP is registered in England and Wales. The LLP's registered number and registered office |
address can be found on the General Information page. |
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
These financial statements for the year ended 31 March 2017 are the first financial statements that comply with |
FRS 102 Section 1A applicable to small entities. The date of transition is 1 April 2016. |
|
The transition to FRS 102 Section 1A for small entities has resulted in no changes to the accounting policies used |
previously. |
|
Turnover |
Turnover represents revenue recognised as earned, under a wide variety of contracts to provide professional |
services, when and to the extent the LLP obtains the right to consideration in exchange for its performance under |
the contracts. It is measured at the fair value of the right to consideration, including expenses and disbursements, |
but excluding VAT. |
|
Turnover that has not been billed to clients in debtors and amounts billed in excess of revenue recognised are |
included in creditors. |
|
Costs in respect of contingency fee assignments are written off to the profit and loss account as incurred until the |
contingent event occurs and collectability is assured. |
|
Tangible fixed assets |
|
Plant and machinery etc | - |
|
|
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, |
as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that |
evidences a residual interest in the assets of the company after deducting all of its liabilities. |
|
Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction |
price including transaction costs and subsequently measured at amortised cost using the effective interest |
method. Financial assets classified as receivable within one year are not amortised. |
|
Basic financial liabilities |
Basic financial liabilities, including trade and other creditors are initially recognised at transaction price. |
Financial liabilities classified as payable within one year are not amortised. |
|
Equity instruments |
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of |
the company. |
V&S Solicitors LLP (Registered number: OC344486) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
|
3. | EMPLOYEE INFORMATION |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2017 |
and 31 March 2018 |
|
DEPRECIATION |
At 1 April 2017 |
and 31 March 2018 |
|
NET BOOK VALUE |
At 31 March 2018 |
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
|
During the year the Management Board sets the level of interim profit allocations and members' monthly |
drawings after considering the working capital and funding needs of the partnership. To the extent that interim |
profit allocations exceed drawings then the excess profit is included in the balance sheet under trade and other |
payables. Where drawings exceed the allocated profits then the excess is included in trade and other receivables. |
Unallocated profits are included in Reserves within Members' equity. |