REGISTERED NUMBER: |
LAWRENCE & CO SOLICITORS LLP |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2023 |
REGISTERED NUMBER: |
LAWRENCE & CO SOLICITORS LLP |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2023 |
LAWRENCE & CO SOLICITORS LLP (REGISTERED NUMBER: OC416498) |
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 |
LAWRENCE & CO SOLICITORS LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31ST MARCH 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Second Floor |
34 Lime Street |
London |
EC3M 7AT |
LAWRENCE & CO SOLICITORS LLP (REGISTERED NUMBER: OC416498) |
BALANCE SHEET |
31ST MARCH 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Work in progress |
Debtors | 4 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 305,534 | 303,484 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
8 |
205,534 |
203,484 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 100,000 | 100,000 |
305,534 | 303,484 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 8 | 205,534 | 203,484 |
Members' other interests | 100,000 | 100,000 |
Amounts due from members | 4 | (12,805 | ) | (12,805 | ) |
292,729 | 290,679 |
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. |
LAWRENCE & CO SOLICITORS LLP (REGISTERED NUMBER: OC416498) |
BALANCE SHEET - continued |
31ST MARCH 2023 |
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 |
LAWRENCE & CO SOLICITORS LLP (REGISTERED NUMBER: OC416498) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2023 |
1. | STATUTORY INFORMATION |
Lawrence & Co 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. |
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. |
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. |
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. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
4. | DEBTORS |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
LAWRENCE & CO SOLICITORS LLP (REGISTERED NUMBER: OC416498) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2023 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts (see note 7) |
Taxation and social security |
Other creditors |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans (see note 7) |
7. | LOANS |
In June 2020 the company obtained a Bounce Back loan for £50,000. The loan is repayable over 5 years, starting in July 2021. Interest is at a rate of 2.5%. |
8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members would rank equally with other unsecured creditors in the event of a winding up. |