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REGISTERED NUMBER: OC341484 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

UNDERWOOD BARRON LLP

UNDERWOOD BARRON LLP (REGISTERED NUMBER: OC341484)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


UNDERWOOD BARRON LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: C F Underwood
Underwood Barron Associates Limited
T Kumar
D A Brown





REGISTERED OFFICE: Monks Brook House
13-17 Hursley Road
Chandlers Ford
Eastleigh
SO53 2FW





REGISTERED NUMBER: OC341484 (England and Wales)






UNDERWOOD BARRON LLP (REGISTERED NUMBER: OC341484)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 464,406 464,406
Tangible assets 5 56,053 53,295
520,459 517,701

CURRENT ASSETS
Stocks 1,028 886
Debtors 6 440,559 303,838
Cash at bank and in hand 130,733 364,934
572,320 669,658
CREDITORS
Amounts falling due within one year 7 232,934 261,026
NET CURRENT ASSETS 339,386 408,632
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

859,845

926,333

LOANS AND OTHER DEBTS DUE TO
MEMBERS

409,845

476,333

MEMBERS' OTHER INTERESTS
Capital accounts 450,000 450,000
859,845 926,333

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 409,845 476,333
Members' other interests 450,000 450,000
859,845 926,333

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2024.

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.

UNDERWOOD BARRON LLP (REGISTERED NUMBER: OC341484)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

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 21 October 2024 and were signed by:




C F Underwood - Designated member




T Kumar - Designated member


UNDERWOOD BARRON LLP (REGISTERED NUMBER: OC341484)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Underwood Barron LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 25% on cost

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 stocks to their present location and condition.

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.

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.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 18 (2023 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 743,051
AMORTISATION
At 1 April 2023
and 31 March 2024 278,645
NET BOOK VALUE
At 31 March 2024 464,406
At 31 March 2023 464,406

UNDERWOOD BARRON LLP (REGISTERED NUMBER: OC341484)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 109,991
Additions 21,089
At 31 March 2024 131,080
DEPRECIATION
At 1 April 2023 56,696
Charge for year 18,331
At 31 March 2024 75,027
NET BOOK VALUE
At 31 March 2024 56,053
At 31 March 2023 53,295

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 53,293
DEPRECIATION
At 1 April 2023 17,280
Charge for year 7,994
At 31 March 2024 25,274
NET BOOK VALUE
At 31 March 2024 28,019
At 31 March 2023 36,013

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 337,719 267,137
Amounts owed by group undertakings 21,798 695
Amounts recoverable on contract 30,395 18,599
Other debtors 50,647 17,407
440,559 303,838

UNDERWOOD BARRON LLP (REGISTERED NUMBER: OC341484)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 629 1,459
Trade creditors 53,802 -
Amounts owed to group undertakings - 69,048
Taxation and social security 128,234 119,482
Other creditors 50,269 71,037
232,934 261,026