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REGISTERED NUMBER: OC300486 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2025

for

Feilden + Mawson LLP

Feilden + Mawson LLP (Registered number: OC300486)

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










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Feilden + Mawson LLP

General Information
for the Year Ended 31 March 2025







Designated members: Mrs G K Graham
Mr R J Todd
Ms E K Davidson
Mr P N Taylor
Ms E Barnston





Registered office: 1 Ferry Road
Norwich
Norfolk
NR1 1SU





Registered number: OC300486 (England and Wales)





Accountants: Stephenson Smart (East Anglia) Limited
Queens Head House
The Street
Acle
Norwich
Norfolk
NR13 3DY

Feilden + Mawson LLP (Registered number: OC300486)

Balance Sheet
31 March 2025

2025 2024
Notes £ £
Fixed assets
Tangible assets 4 274,611 351,245
Investments 5 5,397 5,397
280,008 356,642

Current assets
Debtors 6 1,206,864 1,634,231
Cash at bank and in hand 379,350 457,577
1,586,214 2,091,808
Creditors
Amounts falling due within one year 7 (511,073 ) (785,518 )
Net current assets 1,075,141 1,306,290
Total assets less current liabilities 1,355,149 1,662,932

Creditors
Amounts falling due after more than one
year

8

(11,612

)

(43,898

)
Net assets attributable to members 1,343,537 1,619,034

Feilden + Mawson LLP (Registered number: OC300486)

Balance Sheet - continued
31 March 2025

2025 2024
Notes £ £
Loans and other debts due to members 11 593,537 971,667

Members' other interests
Capital accounts 600,000 497,367
Revaluation reserve 12 150,000 150,000
1,343,537 1,619,034

Total members' interests
Loans and other debts due to members 11 593,537 971,667
Members' other interests 750,000 647,367
1,343,537 1,619,034

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 Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 13 June 2025 and were signed by:



Mrs G K Graham - Designated member



Mr R J Todd - Designated member


Feilden + Mawson LLP (Registered number: OC300486)

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


1. Statement of compliance

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.

2. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Feilden + Mawson LLP as an individual LLP and do not contain consolidated financial information as the parent of a group. The LLP has taken the option under Section 398 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 not to prepare consolidated financial statements.

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
Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair
value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the
useful economic life of that asset as follows:

Land and buildings-not provided
Plant and machinery etc-20 and 33% on cost, 20% on reducing balance and straight line over 14 years

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Feilden + Mawson LLP (Registered number: OC300486)

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


2. Accounting policies - continued

Financial instruments
The company classifies its financial instruments in the following categories: measured at amortised cost; and measured at fair value through profit and loss. The classification is determined at initial recognition and depends on the purpose for which the financial instruments are required.

Measured at amortised cost includes non-derivative financial assets and liabilities with fixed or determinable payments that are not quoted in an active market. Financial assets are included in current assets, except where the maturity date is more than 12 months after the end of the reporting period. They are initially recorded at fair value and subsequently recorded at amortised cost. Financial liabilities are included in current liabilities, except where the maturity date is more than 12 months after the end of the reporting period. They are initially measured at original cost, less amortisation or provisions raised.

Measured at fair value through profit and loss includes financial assets and liabilities. They are classified according to maturity date, within current and non-current assets and liabilities respectively.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

3. Employee information

The average number of employees during the year was 44 (2024 - 45 ) .

Feilden + Mawson LLP (Registered number: OC300486)

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


4. Tangible fixed assets
Freehold Short Improvements
property leasehold to property
£ £ £
Cost or valuation
At 1 April 2024 141,000 33,831 101,892
Additions - - -
Disposals - - (35,480 )
At 31 March 2025 141,000 33,831 66,412
Depreciation
At 1 April 2024 - 17,623 67,195
Charge for year - 3,383 3,913
Eliminated on disposal - - (35,480 )
At 31 March 2025 - 21,006 35,628
Net book value
At 31 March 2025 141,000 12,825 30,784
At 31 March 2024 141,000 16,208 34,697

Fixtures
and Computer
fittings equipment Totals
£ £ £
Cost or valuation
At 1 April 2024 447,200 1,017,743 1,741,666
Additions 1,796 6,529 8,325
Disposals (284,801 ) (589,091 ) (909,372 )
At 31 March 2025 164,195 435,181 840,619
Depreciation
At 1 April 2024 361,062 944,541 1,390,421
Charge for year 20,180 44,116 71,592
Eliminated on disposal (274,327 ) (586,198 ) (896,005 )
At 31 March 2025 106,915 402,459 566,008
Net book value
At 31 March 2025 57,280 32,722 274,611
At 31 March 2024 86,138 73,202 351,245

Feilden + Mawson LLP (Registered number: OC300486)

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


4. Tangible fixed assets - continued

Cost or valuation at 31 March 2025 is represented by:

Freehold Short Improvements
property leasehold to property
£ £ £
Valuation in 2001 35,000 - -
Valuation in 2003 100,000 - -
Cost 6,000 33,831 66,412
141,000 33,831 66,412

Fixtures
and Computer
fittings equipment Totals
£ £ £
Valuation in 2001 15,000 - 50,000
Valuation in 2003 - - 100,000
Cost 149,195 435,181 690,619
164,195 435,181 840,619

If land and other assets had not been revalued they would have been included at the following historical cost:

2025 2024
£ £
Cost 6,000 6,000

Value of land in freehold land and buildings 141,000 141,000

Freehold land was valued on an open market basis on 1 April 2009 by the designated members .

A further review in March 2025 indicated no significant change in the value. Within land and buildings is a car park. Upon disposal the of the car park profits will be be split equally between four of the five Equity Partners being; G K Graham, R J Todd, E K Davidson and P N Taylor.

Feilden + Mawson LLP (Registered number: OC300486)

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


4. Tangible fixed assets - continued

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Fixtures
and Computer
fittings equipment Totals
£ £ £
Cost or valuation
At 1 April 2024 73,069 421,859 494,928
Disposals (34,814 ) - (34,814 )
At 31 March 2025 38,255 421,859 460,114
Depreciation
At 1 April 2024 62,197 355,647 417,844
Charge for year 6,862 40,775 47,637
Eliminated on disposal (34,814 ) - (34,814 )
At 31 March 2025 34,245 396,422 430,667
Net book value
At 31 March 2025 4,010 25,437 29,447
At 31 March 2024 10,872 66,212 77,084

5. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1 April 2024
and 31 March 2025 5,397
Net book value
At 31 March 2025 5,397
At 31 March 2024 5,397

6. Debtors
2025 2024
£ £
Amounts falling due within one year:
Trade debtors 995,187 1,434,383
Other debtors 196,597 184,768
1,191,784 1,619,151

Feilden + Mawson LLP (Registered number: OC300486)

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


6. Debtors - continued
2025 2024
£ £
Amounts falling due after more than one year:
Other debtors 15,080 15,080

Aggregate amounts 1,206,864 1,634,231

7. Creditors: amounts falling due within one year
2025 2024
£ £
Loan from ex-member 40,698 120,698
Hire purchase contracts and finance leases (see note 9)
48,505

87,799
Trade creditors 120,829 188,002
Social security and other taxes 52,313 56,903
VAT 156,278 208,704
Other creditors 18,535 11,963
Accruals and deferred income 73,915 111,449
511,073 785,518

8. Creditors: amounts falling due after more than one year
2025 2024
£ £
Hire purchase contracts and finance leases (see note 9)
11,612

43,898

Feilden + Mawson LLP (Registered number: OC300486)

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


9. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts Finance leases
2025 2024 2025 2024
£ £ £ £
Gross obligations repayable:
Within one year 43,337 86,000 7,239 7,239
Between one and five years - 28,077 11,918 18,198
43,337 114,077 19,157 25,437

Finance charges repayable:
Within one year 1,518 4,607 553 833
Between one and five years - 1,518 306 859
1,518 6,125 859 1,692

Net obligations repayable:
Within one year 41,819 81,393 6,686 6,406
Between one and five years - 26,559 11,612 17,339
41,819 107,952 18,298 23,745

10. Secured debts

The following secured debts are included within creditors:

2025 2024
£ £
Hire purchase contracts and finance leases 60,117 131,697

The bank holds a fixed and floating charge over the assets of the LLP.

Hire purchase agreements are secured on the assets to which they relate.

Feilden + Mawson LLP (Registered number: OC300486)

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


11. Loans and other debts due to members
2025 2024
£ £
Amounts owed to members in respect of profits 593,537 971,667

Falling due within one year 593,537 971,667

Loans and other debts due to members would rank equally with other unsecured creditors in the event of a winding up. In such an event no legally enforceable protection is afforded creditors in preference to the members.

12. Reserves
Revaluation
reserve
£
At 1 April 2024
and 31 March 2025 150,000

The increase/decrease in value of LLP assets represented by movements in the revaluation reserve was allocated to the members in proportion to their profit share at the time of the revaluation.

13. Other financial commitments

Total financial commitments which are not listed on the balance sheet amount to £622,092 (2024 £878,028).

The 2025 commitments comprise:

Norwich rent due to May 3022 - £998

London rent and services charges due to July 2027 - £440,134

Cambridge rent due to May 2028 - £180,960