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Unaudited Financial Statements |
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for the Year Ended 30 November 2019 |
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for |
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PEPPERS SOLICITORS LLP |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 November 2019 |
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for |
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PEPPERS SOLICITORS LLP |
PEPPERS SOLICITORS LLP (REGISTERED NUMBER: OC356489) |
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Contents of the Financial Statements |
for the year ended 30 November 2019 |
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General Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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PEPPERS SOLICITORS LLP |
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General Information |
for the year ended 30 November 2019 |
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Designated members: |
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Mr S J Brown |
Ms H Michael |
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Mr S Hughes |
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Registered office: |
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Registered number: |
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Accountants: |
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Chartered Accountants |
305 Regents Park Road |
Finchley |
London |
N3 1DP |
PEPPERS SOLICITORS LLP (REGISTERED NUMBER: OC356489) |
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Balance Sheet |
30 November 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
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Current assets |
Debtors | 5 |
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Cash at bank and in hand |
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Creditors |
Amounts falling due within one year | 6 |
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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 | 221,976 | 204,916 |
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Loans and other debts due to members | 8 | 221,976 | 204,916 |
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Total members' interests |
Loans and other debts due to members | 8 | 221,976 | 204,916 |
Amounts due from members | 5 | (5,481 | ) | (5,481 | ) |
216,495 | 199,435 |
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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. |
PEPPERS SOLICITORS LLP (REGISTERED NUMBER: OC356489) |
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Balance Sheet - continued |
30 November 2019 |
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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 Profit and Loss Account 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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PEPPERS SOLICITORS LLP (REGISTERED NUMBER: OC356489) |
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Notes to the Financial Statements |
for the year ended 30 November 2019 |
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1. | Statutory information |
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Peppers 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. |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Significant judgements and estimates |
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. |
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There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets. |
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There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable. |
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There is estimation uncertainty in calculating work in progress provisions. A full line by line review of work in progress is carried out at the end of each month. Whilst every attempt is made to ensure that the work in progress provisions are as accurate as possible, there remains a risk that the provisions do not match the level of work in progress which ultimately prove to be invoiced. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Short leasehold | - |
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Computer equipment | - |
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Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
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Trade and Other debtors and Creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
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Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank. |
PEPPERS SOLICITORS LLP (REGISTERED NUMBER: OC356489) |
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Notes to the Financial Statements - continued |
for the year ended 30 November 2019 |
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2. | Accounting policies - continued |
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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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Work in progress |
Work in progress is valued at the lower of time cost and net realisable value. |
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3. | Employee information |
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The average number of employees during the year was
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4. | Tangible fixed assets |
Short | Computer |
leasehold | equipment | Totals |
£ | £ | £ |
Cost |
At 1 December 2018 |
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Additions |
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At 30 November 2019 |
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Depreciation |
At 1 December 2018 |
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Charge for year |
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At 30 November 2019 |
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Net book value |
At 30 November 2019 |
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At 30 November 2018 |
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5. | Debtors: amounts falling due within one year |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | Creditors: amounts falling due within one year |
2019 | 2018 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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PEPPERS SOLICITORS LLP (REGISTERED NUMBER: OC356489) |
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Notes to the Financial Statements - continued |
for the year ended 30 November 2019 |
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7. | Leasing agreements |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2019 | 2018 |
£ | £ |
Within one year |
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Between one and five years |
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8. | Loans and other debts due to members |
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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. |
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There is no provision for specific legally enforceable protection afforded to creditors in such an event. |
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There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members' other interests'. |