TJL Solicitors LLP Filleted accounts for Companies House (small and micro)

TJL SOLICITORS LLP - Company Information

14 false false false false false false false false false false false false false false false false false No description of principal activity 2022-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 765,168 229,548 26,781 256,329 508,839 535,620 129,229 102,433 2,680 105,113 24,116 26,796 xbrli:pure xbrli:shares iso4217:GBP OC367616 2022-06-01 2023-05-31 OC367616 2023-05-31 OC367616 2022-05-31 OC367616 2021-06-01 2022-05-31 OC367616 2022-05-31 OC367616 2021-05-31 OC367616 core:FurnitureFittings 2022-06-01 2023-05-31 OC367616 core:NetGoodwill 2022-06-01 2023-05-31 OC367616 bus:Director1 2022-06-01 2023-05-31 OC367616 bus:Director2 2022-06-01 2023-05-31 OC367616 core:NetGoodwill 2022-05-31 OC367616 core:NetGoodwill 2023-05-31 OC367616 core:FurnitureFittings 2022-05-31 OC367616 core:FurnitureFittings 2023-05-31 OC367616 core:WithinOneYear 2023-05-31 OC367616 core:WithinOneYear 2022-05-31 OC367616 core:NetGoodwill 2022-05-31 OC367616 core:FurnitureFittings 2022-05-31 OC367616 bus:SmallEntities 2022-06-01 2023-05-31 OC367616 bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 OC367616 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 OC367616 bus:LimitedLiabilityPartnershipLLP 2022-06-01 2023-05-31 OC367616 bus:FullAccounts 2022-06-01 2023-05-31

REGISTERED NUMBER: OC367616

TJL SOLICITORS LLP

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 May 2023

TJL SOLICITORS LLP

FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2023

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

TJL SOLICITORS LLP

STATEMENT OF FINANCIAL POSITION

31 May 2023

	2023		2022
Note	£	£	£

Fixed assets

Intangible assets	5	508,839	535,620
Tangible assets	6	24,116	26,796
		---------	---------
		532,955	562,416

Current assets

Stocks		204,075	174,425
Debtors	7	884,388	954,559
Cash at bank and in hand		212	90
		------------	------------
		1,088,675	1,129,074

Creditors: amounts falling due within one year	8	( 860,511)		( 931,328)
		------------		------------
Net current assets			228,164	197,746
			---------	---------
Total assets less current liabilities			761,119	760,162
			---------	---------
Net assets			761,119	760,162
			---------	---------

Represented by:

Loans and other debts due to members

Other amounts	9	761,119	760,162
		---------	---------

Members' other interests

Other reserves	–	–
	---------	---------
	761,119	760,162
	---------	---------

Total members' interests

Loans and other debts due to members	9	761,119	760,162
Members' other interests		–	–
		---------	---------
		761,119	760,162
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.

For the year ending 31 May 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .

TJL SOLICITORS LLP

STATEMENT OF FINANCIAL POSITION (continued)

31 May 2023

These financial statements were approved by the members and authorised for issue on 14 November 2023 , and are signed on their behalf by:

R. J. Sutton	M. G. T. Saul
Designated Member	Designated Member

Registered number: OC367616

TJL SOLICITORS LLP

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2023

1.	General information

The LLP is registered in England and Wales. The address of the registered office is Washbrook House Lancastrian Office Centre, Talbot Road, Manchester, England, M32 0FP.

2.	Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2018 (SORP 2018).

3.	Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its current useful life.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset. It is considered that a reliable estimate of the current useful life of goodwill is twenty years.

	Goodwill	-	Written off over 20 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures, fittings and equipment	-	10% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the LLP are assigned to those units.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the LLP will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the LLP recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4.	Particulars of employees

The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 14 (2022: 16 ).

5.	Intangible assets

	Goodwill
	£
Cost
At 1 June 2022 and 31 May 2023	765,168
	---------
Amortisation
At 1 June 2022	229,548
Charge for the year	26,781
	---------
At 31 May 2023	256,329
	---------
Carrying amount
At 31 May 2023	508,839
	---------
At 31 May 2022	535,620
	---------

6.	Tangible assets

	Fixtures, fittings and equipment
	£
Cost
At 1 June 2022 and 31 May 2023	129,229
	---------
Depreciation
At 1 June 2022	102,433
Charge for the year	2,680
	---------
At 31 May 2023	105,113
	---------
Carrying amount
At 31 May 2023	24,116
	---------
At 31 May 2022	26,796
	---------

7.	Debtors

	2023	2022
	£	£
Trade debtors	777,026	858,998
Other debtors	107,362	95,561
	---------	---------
	884,388	954,559
	---------	---------

8. Creditors: amounts falling due within one year

	2023	2022
	£	£
Bank loans and overdrafts	599,567	558,382
Trade creditors	133,490	206,384
Social security and other taxes	58,040	96,125
Other creditors	69,414	70,437
	---------	---------
	860,511	931,328
	---------	---------

9.	Loans and other debts due to members

	2023	2022
	£	£
Amounts owed to members in respect of profits	761,119	760,162
	---------	---------