REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 29 FEBRUARY 2008 TO 31 MARCH 2009

FOR

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THE SOLOMON PARTNERSHIP LLP

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 THE SOLOMON PARTNERSHIP LLP

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE PERIOD 29 FEBRUARY 2008 TO 31 MARCH 2009

Page

General Information 1

Report of the Members 2

Report of the Accountants 3

Profit and Loss Account 4

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Balance Sheet 5

Notes to the Financial Statements 6

Profit and Loss Account

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Capital Account Schedule :55 11

Current Accounts Schedule 12

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 THE SOLOMON PARTNERSHIP LLP

GENERAL INFORMATION
FOR THE PERIOD 29 FEBRUARY 2008 TO 31 MARCH 2009

DESIGNATED MEMBERS: Mr Shoaib Taj

Miss Zulekha Satar

REGISTERED OFFICE: 10 Richmond Terrace

Blackburn
Lancashire
BB1 7BD

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REGISTERED NUMBER:
AF OC326200 (England and Wales)
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ACCOUNTANTS: Momin & Co

355 Wilmslow Road
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Fallowfield
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Manchester
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Lancashire
M14 6XU
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 THE SOLOMON PARTNERSHIP LLP

REPORT OF THE MEMBERS

FOR THE PERIOD 29 FEBRUARY 2008 TO 31 MARCH 2009

The members present their report with the financial statements of the LLP for the period 29 February 2008 to
31 March 2009.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the period under review was that of legal services.

DESIGNATED MEMBERS
The designated members during the period under review were:

Mr Neil David Parsonage

Mr Shoaib Taj
Miss Zulekha Satar

RESULTS FOR THE PERIOD AND ALLOCATION TO MEMBERS

The loss for the period before members' remuneration and profit shares was £31,549 (2008 - £58,034 profit).

MEMBERS' INTERESTS

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This report has been prepared in accordance with the special provisions of Part VII of the Companies Act 1985 as
modified by the Limited Liability Partnerships Regulations 2001 relating to small LLPs.

ON BEHALF OF THE MEMBERS:

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Mr Shoaib Taj - Designated Member
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27 February 2010
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 THE SOLOMON PARTNERSHIP LLP

REPORT OF THE ACCOUNTANTS TO THE MEMBERS OF

THE SOLOMON PARTNERSHIP LLP

As described on the balance sheet you are responsible for the preparation of the financial statements for the period ended
31 March 2009 set out on pages four to eight and you consider that the LLP is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to
fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Momin & Co
355 Wilmslow Road
Fallowfield
Manchester
Lancashire
M14 6XU

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This page does not form part of the statutory financial statements

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 THE SOLOMON PARTNERSHIP LLP

PROFIT AND LOSS ACCOUNT

FOR THE PERIOD 29 FEBRUARY 2008 TO 31 MARCH 2009

Period Period
29.2.08 27.3.07
to to
31.3.09 28.2.08
Notes £ £

TURNOVER 300,246 247,340

Administrative expenses 357,484 214,336

OPERATING (LOSS)/PROFIT 2 (57,238 ) 33,004

Profit/loss on disposal of tangible fixed

assets - 360

(57,238 ) 33,364

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Interest receivable and similar income 26,071 24,670

(31,167 ) 58,034

Interest payable and similar charges 3 382 -

(LOSS)/PROFIT FOR THE FINANCIAL

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PERIOD BEFORE MEMBERS' :55
REMUNERATION AND PROFIT
SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
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MEMBERS 9 (31,549 ) 58,034

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The notes form part of these financial statements

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 THE SOLOMON PARTNERSHIP LLP

BALANCE SHEET
31 MARCH 2009

31.3.09 28.2.08
Notes £ £ £ £
FIXED ASSETS
Tangible assets 5 17,089 7,543

CURRENT ASSETS
Debtors 6 24,635 17,153
Cash at bank and in hand 56 9

24,691 17,162
CREDITORS
Amounts falling due within one year 7 74,148 34,312

NET CURRENT LIABILITIES (49,457 ) (17,150 )

TOTAL ASSETS LESS CURRENT

LIABILITIES (32,368 ) (9,607)

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LOANS AND OTHER DEBTS DUE TO
MEMBERS 8 (32,368 ) (9,607)

MEMBERS' OTHER INTERESTS

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(32,368 )
:55 (9,607)

TOTAL MEMBERS' INTERESTS

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Loans and other debts due to members 8 (32,368 ) (9,607)

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The LLP is entitled to exemption from audit under Section 249A(1) of the Companies Act 1985 as modified by the
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Limited Liability Partnerships Regulations 2001 for the period ended 31 March 2009.

The members acknowledge their responsibilities for:

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(a) ensuring that the LLP keeps accounting records which comply with Section 221 of the Companies Act 1985 as
modified by the Limited Liability Partnerships Regulations 2001 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 Section
226 and which otherwise comply with the requirements of the Companies Act 1985 as modified by the Limited
Liability Partnerships Regulations 2001 relating to financial statements, so far as applicable to the LLP.

These financial statements have been prepared in accordance with the special provisions of Part VII of the Companies
Act 1985 as modified by the Limited Liability Partnerships Regulations 2001 relating to small LLPs and with the
Financial Reporting Standard for Smaller Entities (effective January 2007).

The financial statements were approved by the members of the LLP on 27 February 2010 and were signed by:

Mr Shoaib Taj - Designated member

The notes form part of these financial statements

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 THE SOLOMON PARTNERSHIP LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD 29 FEBRUARY 2008 TO 31 MARCH 2009

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the
Financial Reporting Standard for Smaller Entities (effective January 2007) and the requirements of the Statement
of Recommended Practice, Accounting by Limited Liability Partnerships.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.

Plant and machinery - 20% on cost

Fixtures and fittings - 15% on cost

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Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the
period of the lease.

2. OPERATING (LOSS)/PROFIT
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The operating loss (2008 - operating profit) is stated after charging:
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Period Period
29.2.08 27.3.07
to to
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31.3.09 28.2.08
£ £
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Depreciation - owned assets 4,846 2,514

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Auditors' remuneration - 500

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3. INTEREST PAYABLE AND SIMILAR CHARGES

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Interest payable and similar charges includes the following:

Period Period
29.2.08 27.3.07
to to
31.3.09 28.2.08
£ £
Bank loan interest 382 -

4. INFORMATION IN RELATION TO MEMBERS

Period Period
29.2.08 27.3.07
to to
31.3.09 28.2.08

The average number of members during the period was 2 2

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 THE SOLOMON PARTNERSHIP LLP

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 29 FEBRUARY 2008 TO 31 MARCH 2009

5. TANGIBLE FIXED ASSETS

Fixtures
Plant and and
machinery fittings Totals
£ £ £
COST
At 29 February 2008 8,617 4,978 13,595
Additions 4,351 10,041 14,392

At 31 March 2009 12,968 15,019 27,987

DEPRECIATION
At 29 February 2008 3,737 2,315 6,052
Charge for period 2,594 2,252 4,846

At 31 March 2009 6,331 4,567 10,898

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NET BOOK VALUE
At 31 March 2009 6,637 10,452 17,089

At 28 February 2008 4,880 2,663 7,543

6.
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DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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£ £
Trade debtors 24,635 10,930
Prepayments and accrued income - 5,935
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HMLR prepayments - 288

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24,635 17,153
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7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.09 28.2.08
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£ £
Bank loans and overdrafts 5,751 5,997
Trade creditors 9,336 8,463
Social security and other taxes 18,773 12,488
VAT 40,288 5,864
Accrued expenses - 1,500

74,148 34,312

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

31.3.09 28.2.08
£ £
Amounts owed to members in respect of profits 49,095 58,034
Capital account (81,463 ) (67,641 )

(32,368 ) (9,607)

Falling due within one year (32,368 ) (9,607)

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 THE SOLOMON PARTNERSHIP LLP

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 29 FEBRUARY 2008 TO 31 MARCH 2009

9. MEMBERS' INTERESTS
Members' Loans and
other other debts
interests due to
Reserves members Total
£ £ £
Balance at 29 February 2008 - (9,607) (9,607)
Loss for the financial year available
for discretionary division among
members (31,549 ) (31,549 )

Members' interests
after loss for the year (31,549 ) (9,607) (41,156 )
Other divisions of loss 31,549 (31,549 )
Introduced by members 30,235 30,235
Reclassifications (21,447 ) (21,447 )

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Balance at 31 March 2009 - (32,368 ) (32,368 )

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 THE SOLOMON PARTNERSHIP LLP

PROFIT AND LOSS ACCOUNT

FOR THE PERIOD 29 FEBRUARY 2008 TO 31 MARCH 2009

Period Period
29.2.08 to 31.3.09 27.3.07 to 28.2.08
£ £ £ £
Turnover
Fee receivable 299,357 247,340
ATE insurance 889 -
300,246 247,340

Other income
Client account interest income 26,037 24,409
Office account interest income 34 261
26,071 24,670

326,317 272,010

Expenditure
Hire of plant and machinery 822 688

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Rent & rates - 12,375
Light and heat 3,266 2,218
Software support fee 7,062 4,298
Wages 132,277 109,809
Telephone 10,708 7,061
Post and stationery
Travelling
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2,077
9,067
708
Motor expenses - :55 1,138
Licences and insurance - 385
Professional fees 11,836 16,154
Repairs and renewals 27,098 1,369
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Staff training 409 1,201

Household and cleaning 6,380 604
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Professional membership 105 -

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Sundry expenses 9,976 3,739

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Accountancy - 1,000
Auditors' remuneration - 500
Donations 200 2,000
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Advertising 575 3,852

Entertainment - 770
Bad debts 410 1,020
Professional indemnity 9,051 9,221
Practicing certificate 4,095 2,651
HMLR 947 -
235,010 191,828

91,307 80,182

Finance costs
Bank charges 5,457 844
Referral fees 112,171 19,150
Bank loan interest 382 -
118,010 19,994

Carried forward (26,703 ) 60,188

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 THE SOLOMON PARTNERSHIP LLP

PROFIT AND LOSS ACCOUNT

FOR THE PERIOD 29 FEBRUARY 2008 TO 31 MARCH 2009

Period Period
29.2.08 to 31.3.09 27.3.07 to 28.2.08
£ £ £ £
Brought forward (26,703 ) 60,188

Depreciation
Plant and machinery 2,594 1,763
Fixtures and fittings 2,252 751
4,846 2,514

(31,549 ) 57,674

Exceptional items
Profit/loss on disposal of tangible fixed
assets - 360

NET (LOSS)/PROFIT (31,549 ) 58,034

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Divisible as follows:
Mr Neil David Parsonage (5,840) 17,410
Mr Shoaib Taj (22,085 ) 40,624
Miss Zulekha Satar
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(31,549 )
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 THE SOLOMON PARTNERSHIP LLP

CAPITAL ACCOUNT SCHEDULE

31 MARCH 2009

Mr Neil Miss
David Mr Shoaib Zulekha
Parsonage Taj Satar Totals
£ £ £ £
At 29 February 2008 (15,700 ) (51,941 ) - (67,641 )
Capital introduced - 7,625 - 7,625

(15,700 ) (44,316 ) - (60,016 )

Transfers
Prior period adjustments - - - -
Drawings (3,889) (16,158 ) (1,400) (21,447 )

At 31 March 2009 (19,589 ) (60,474 ) (1,400) (81,463 )

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CURRENT ACCOUNTS SCHEDULE

31 MARCH 2009

Mr Neil Miss
David Mr Shoaib Zulekha
Parsonage Taj Satar Totals
£ £ £ £
At 29 February 2008 17,410 40,624 - 58,034
Share of loss (5,840) (22,085 ) (3,624) (31,549 )
Capital introduced - - 22,610 22,610

At 31 March 2009 11,570 18,539 18,986 49,095

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