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REGISTERED NUMBER: OC306054 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

LEA HOUGH & CO LLP

LEA HOUGH & CO LLP (REGISTERED NUMBER: OC306054)






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




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LEA HOUGH & CO LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DESIGNATED MEMBERS: J P Dignan
M J Harrison
M J Parkinson





REGISTERED OFFICE: Oakshaw House
2 Capricorn Park
Blakewater Road
Blackburn
Lancashire
BB1 5QR





REGISTERED NUMBER: OC306054 (England and Wales)





ACCOUNTANTS: Wallwork Nelson & Johnson
Chandler House
7 Ferry Road Office Park
Riversway
Preston
Lancashire
PR2 2YH

LEA HOUGH & CO LLP (REGISTERED NUMBER: OC306054)

BALANCE SHEET
31 MAY 2024

31/5/24 31/5/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 77,309 83,183
77,309 83,183

CURRENT ASSETS
Debtors 6 335,150 360,545
Cash at bank and in hand 1,241,216 1,002,213
1,576,366 1,362,758
CREDITORS
Amounts falling due within one year 7 262,474 210,195
NET CURRENT ASSETS 1,313,892 1,152,563
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,391,201

1,235,746

CREDITORS
Amounts falling due after more than one
year

8

24,629

29,354
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,366,572

1,206,392

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

1,366,572

1,206,392

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 1,366,572 1,206,392

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 May 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.

LEA HOUGH & CO LLP (REGISTERED NUMBER: OC306054)

BALANCE SHEET - continued
31 MAY 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 10 September 2024 and were signed by:




J P Dignan - Designated member




M J Harrison - Designated member


LEA HOUGH & CO LLP (REGISTERED NUMBER: OC306054)

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

1. STATUTORY INFORMATION

Lea Hough & Co 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
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 represents net invoiced sales of services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

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.
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment in value.

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.

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.

Going concern
The designated members have a reasonable expectation that the partnership has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 19 (2023 - 16 ) .

LEA HOUGH & CO LLP (REGISTERED NUMBER: OC306054)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 5,000
AMORTISATION
At 1 June 2023
and 31 May 2024 5,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 68,619 85,867 49,127 203,613
Additions 5,704 - 12,790 18,494
At 31 May 2024 74,323 85,867 61,917 222,107
DEPRECIATION
At 1 June 2023 66,349 12,508 41,573 120,430
Charge for year 1,769 18,340 4,259 24,368
At 31 May 2024 68,118 30,848 45,832 144,798
NET BOOK VALUE
At 31 May 2024 6,205 55,019 16,085 77,309
At 31 May 2023 2,270 73,359 7,554 83,183

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Debtors and prepayments 335,150 360,545

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Hire purchase contracts 4,725 4,725
Creditors and accruals 66,533 51,947
Owing to Client per Client
Ledger 45,473 24,462
Social security and other taxes 40,954 30,170
VAT 104,789 98,891
262,474 210,195

LEA HOUGH & CO LLP (REGISTERED NUMBER: OC306054)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/5/24 31/5/23
£    £   
Hire purchase contracts 24,629 29,354

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

No preference will be given to the Designated Members in relation to Loans and Other Debts due to Members in the event of a winding up order, over and above any unsecured creditors.

10. RELATED PARTY DISCLOSURES

J P Dignan and M J Harrison are directors of Oakshaw Investments Limited, a company registered in England and Wales. During the year, the limited liability partnership paid rent totalling £30,000 (2023: £30,000) to Oakshaw Investments Limited.

11. ULTIMATE CONTROLLING PARTY

The LLP is owned and controlled by the Designated Members, with no one individual member having overall control.