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REGISTERED NUMBER: OC356032 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Swinburne Maddison LLP

Swinburne Maddison LLP (Registered number: OC356032)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Swinburne Maddison LLP

General Information
for the Year Ended 30 April 2024







DESIGNATED MEMBERS: J M Moreland
V E Walton
K E Stephenson
M W Tennant
S A Robinson


REGISTERED OFFICE: Venture House
Aykley Heads Business Centre
Aykley Heads
Durham
Co Durham
DH1 5TS


REGISTERED NUMBER: OC356032 (England and Wales)


ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Kepier House
Belmont Business Park
Durham
DH1 1TW


BANKERS: National Westminster Bank PLC
12 Market Place
Durham
Co Durham
DH1 3NG

Swinburne Maddison LLP (Registered number: OC356032)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 128,024 180,383

CURRENT ASSETS
Debtors 5 2,146,699 1,902,035
Cash at bank 342,003 295,664
2,488,702 2,197,699
CREDITORS
Amounts falling due within one year 6 629,260 461,999
NET CURRENT ASSETS 1,859,442 1,735,700
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,987,466

1,916,083

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

1,987,466

1,916,083

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 1,987,466 1,916,083

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 30 April 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.

Swinburne Maddison LLP (Registered number: OC356032)

Balance Sheet - continued
30 April 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 20 January 2025 and were signed by:





M W Tennant - Designated member

Swinburne Maddison LLP (Registered number: OC356032)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Swinburne Maddison 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.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

There were no material departures from that standard.

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

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the LLP will receive consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 10 - 25% on cost

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

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.

Swinburne Maddison LLP (Registered number: OC356032)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

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).

Members participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 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'. A member's participation right results in a liability unless the right to any payment is discretionary on part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

All amounts due to members that are classified as liabilities are presented in the Balance Sheet within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Balance Sheet within 'Members' other interests'.

Tangible fixed assets
Tangible fixed assets are held at cost less accumulated depreciation.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 77 (2023 - 67 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 1 May 2023 59,545 447,747 507,292
Additions - 10,718 10,718
At 30 April 2024 59,545 458,465 518,010
DEPRECIATION
At 1 May 2023 32,254 294,655 326,909
Charge for year 5,954 57,123 63,077
At 30 April 2024 38,208 351,778 389,986
NET BOOK VALUE
At 30 April 2024 21,337 106,687 128,024
At 30 April 2023 27,291 153,092 180,383

Swinburne Maddison LLP (Registered number: OC356032)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,010,250 911,728
Amounts recoverable on
contracts 981,274 837,526
Other debtors 5,180 15,350
Prepayments and accrued income 149,995 137,431
2,146,699 1,902,035

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans 104,612 60,584
Hire purchase contracts (see note 7) - 1,205
Trade creditors 24,899 7,387
Social security and other taxes 305,312 224,243
Other creditors 13,465 5,920
Accruals and deferred income 180,972 162,660
629,260 461,999

7. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year - 1,205

Non-cancellable operating leases
2024 2023
£    £   
Within one year 195,283 227,414
Between one and five years 594,656 696,279
In more than five years 1,039,540 1,325,082
1,829,479 2,248,775

8. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 1,987,466 1,916,083

Falling due within one year 1,987,466 1,916,083