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Unaudited Financial Statements for the Year Ended 31st March 2019 |
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Andrew Jackson Solicitors LLP |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31st March 2019 |
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for |
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Andrew Jackson Solicitors LLP |
Andrew Jackson Solicitors LLP (Registered number: OC415019) |
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Contents of the Financial Statements |
for the year ended 31st March 2019 |
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Page |
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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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Andrew Jackson Solicitors LLP |
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General Information |
for the year ended 31st March 2019 |
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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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Chartered Accountants |
Regent's Court |
Princess Street |
Hull |
East Yorkshire |
HU2 8BA |
Andrew Jackson Solicitors LLP (Registered number: OC415019) |
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Balance Sheet |
31st March 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investments | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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NET ASSETS ATTRIBUTABLE TO
MEMBERS |
2,776,941 |
2,453,293 |
Andrew Jackson Solicitors LLP (Registered number: OC415019) |
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Balance Sheet - continued |
31st March 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
LOANS AND OTHER DEBTS DUE TO
MEMBERS |
11 |
903,941 |
701,293 |
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MEMBERS' OTHER INTERESTS |
Capital accounts | 1,873,000 | 1,752,000 |
2,776,941 | 2,453,293 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 11 | 903,941 | 701,293 |
Members' other interests | 1,873,000 | 1,752,000 |
Amounts due from members | 7 | (96 | ) | (1,082 | ) |
2,776,845 | 2,452,211 |
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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 |
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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. |
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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 on
by: |
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Andrew Jackson Solicitors LLP (Registered number: OC415019) |
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Notes to the Financial Statements |
for the year ended 31st March 2019 |
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1. | STATUTORY INFORMATION |
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Andrew Jackson 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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Preparation of consolidated financial statements |
The financial statements contain information about Andrew Jackson Solicitors LLP as an individual |
LLP and do not contain consolidated financial information as the parent of a group. The LLP has taken |
the option under Section 398 of the Companies Act 2006 as applied to LLPs by the Limited Liability |
Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 not to |
prepare consolidated financial statements. |
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Turnover |
Turnover represents amounts chargeable to clients for professional services provided during the year, |
inclusive of direct expenses incurred on client assignments but excluding value added tax. Turnover is |
recognised when right to consideration has been obtained though performance under each contract. |
Consideration accrues as contact activity progresses by reference to value of the work performed. |
Unfilled revenue is included in current assets as "Amounts recoverable on contracts". |
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Goodwill |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. |
Those held under hire purchase contracts are depreciated over their estimated useful lives. Those |
held under finance leases are depreciated over their estimated useful lives or the lease term, |
whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The |
capital element of the future payments is treated as a liability. |
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Debtors and creditors |
Debtors and creditors with no stated interest rate and receiveable or payable within one year are |
recognised at transaction price. Any losses arising from impairment are recognised in the profit and |
loss account within administration expenses. |
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Any amounts due after more than one year are measured at amortised cost using the effective interest |
rate method less impairment, If an arrangement constitutes a financing transaction it is measured at |
present value of the future payments discounted at a market rate of interest for a similar instrument. |
Andrew Jackson Solicitors LLP (Registered number: OC415019) |
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Notes to the Financial Statements - continued |
for the year ended 31st March 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Employee benefits |
When employees have render service to the LLP, short-term employee benefits to which the |
employees are entitled are recognised at the undiscounted amount to be paid in exchange for that |
service. |
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The LLP operates a defined contribution plan for the benefit of its employees. Contributions are |
charged to the profit and loss account as they become payable. |
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All staff are employed by a subsidiary company with the employment costs recharged to the LLP. |
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Provisions |
Provisions are recognised when the LLP has an obligation at the balance sheet date as a result of a |
past event, it is probable that an outflow of economic benefits will be required in settlement and the |
amount can be reliably estimated. |
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3. | EMPLOYEE INFORMATION |
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The average number of employees during the year was NIL (2018 - NIL). |
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st April 2018 |
and 31st March 2019 |
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AMORTISATION |
At 1st April 2018 |
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Charge for year |
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At 31st March 2019 |
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NET BOOK VALUE |
At 31st March 2019 |
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At 31st March 2018 |
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Andrew Jackson Solicitors LLP (Registered number: OC415019) |
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Notes to the Financial Statements - continued |
for the year ended 31st March 2019 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1st April 2018 |
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Additions |
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At 31st March 2019 |
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DEPRECIATION |
At 1st April 2018 |
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Charge for year |
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At 31st March 2019 |
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NET BOOK VALUE |
At 31st March 2019 |
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At 31st March 2018 |
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6. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1st April 2018 |
and 31st March 2019 |
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NET BOOK VALUE |
At 31st March 2019 |
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At 31st March 2018 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Amounts recoverable on contract |
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Other debtors |
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8. | 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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Andrew Jackson Solicitors LLP (Registered number: OC415019) |
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Notes to the Financial Statements - continued |
for the year ended 31st March 2019 |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2019 | 2018 |
£ | £ |
Other creditors |
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10. | FINANCIAL INSTRUMENTS |
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Total financial commitments, guarantees and contingencies which are not included in the balance |
amount to £1,418,374 (2018 - £nil) The lease that this relates to expires in November 2033. |
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11. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2019 | 2018 |
£ | £ |
Amounts owed to members in respect of profits | 903,941 | 701,293 |
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Falling due within one year | 903,941 | 701,293 |
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Amounts included in loans and other debts due to members would rank pari passu to other unsecured |
creditors in the event of a winding up. There are no restrictions on the ability of the members to reduce |
the amount of members' other interest. |
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12. | RELATED PARTY DISCLOSURES |
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The LLP has a management service agreement with Andrew M Jackson Limited. Fees paid by the |
LLP under this agreement amounted to £4,006,978 (2018 - £3,965,299). At the balance sheet date the |
amount due to Andrew M Jackson Limited was £292,680 (2018 - £284,108). |