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REGISTERED NUMBER: OC302436 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2025

for

Raymond Smith Partnership LLP

Raymond Smith Partnership LLP (Registered number: OC302436)

Contents of the Financial Statements
for the Year Ended 31 March 2025










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Raymond Smith Partnership LLP

General Information
for the Year Ended 31 March 2025







DESIGNATED MEMBERS: Mr P M Smith
Mr S P Whitmill





REGISTERED OFFICE: The Old Bank
5 High Street
Old Town
Eastbourne
East Sussex
BN21 1HG





REGISTERED NUMBER: OC302436 (England and Wales)





ACCOUNTANTS: SLP Advisory Limited
126 Wish Hill
Eastbourne
East Sussex
BN20 9HL

Raymond Smith Partnership LLP (Registered number: OC302436)

Balance Sheet
31 March 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,976 3,846

CURRENT ASSETS
Debtors 5 31,383 41,996
Cash at bank 51,199 71,478
82,582 113,474
CREDITORS
Amounts falling due within one year 6 14,095 26,104
NET CURRENT ASSETS 68,487 87,370
TOTAL ASSETS LESS CURRENT LIABILITIES 75,463 91,216

CREDITORS
Amounts falling due after more than one year 7 2,500 12,500
NET ASSETS ATTRIBUTABLE TO MEMBERS 72,963 78,716

LOANS AND OTHER DEBTS DUE TO MEMBERS 8 72,963 78,716

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 72,963 78,716

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 2025.

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.

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 Profit and loss has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 10 June 2025 and were signed by:




Mr P M Smith - Designated member



Mr S P Whitmill - Designated member


Raymond Smith Partnership LLP (Registered number: OC302436)

Notes to the Financial Statements
for the Year Ended 31 March 2025


1. STATUTORY INFORMATION

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

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 - straight line over 3 years
Computer equipment - straight line over 3 years

Tangible fixed assets are included at cost less depreciation and impairment.

Raymond Smith Partnership LLP (Registered number: OC302436)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025


2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year\, including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
- at fair value with changes recognised in the Profit and loss account if the shares are publicly traded or their fair value can otherwise be measured reliably;
- at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on net basis or to realise the asset and settle the liability simultaneously.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 4 (2024 - 4 ) .

Raymond Smith Partnership LLP (Registered number: OC302436)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2024 9,566 20,474 30,040
Additions 1,260 7,979 9,239
Disposals (7,819 ) (11,875 ) (19,694 )
At 31 March 2025 3,007 16,578 19,585
DEPRECIATION
At 1 April 2024 8,804 17,390 26,194
Charge for year 932 5,177 6,109
Eliminated on disposal (7,819 ) (11,875 ) (19,694 )
At 31 March 2025 1,917 10,692 12,609
NET BOOK VALUE
At 31 March 2025 1,090 5,886 6,976
At 31 March 2024 762 3,084 3,846

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 12,360 23,031
VAT 1,387 -
Prepayments and accrued income 17,636 18,965
31,383 41,996

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors - 20
VAT - 10,339
Other creditors 2,355 3,677
Accrued expenses 1,740 2,068
14,095 26,104

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans - 1-2 years 2,500 10,000
Bank loans - 2-5 years - 2,500
2,500 12,500

Raymond Smith Partnership LLP (Registered number: OC302436)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025


8. LOANS AND OTHER DEBTS DUE TO MEMBERS
2025 2024
£    £   
Amounts owed to members in respect of profits 72,763 78,516
Capital account 200 200
72,963 78,716

Falling due within one year 72,963 78,716

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.