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REGISTERED NUMBER: OC315743 (England and Wales)












Unaudited Financial Statements for the Year Ended 31 March 2025

for

Wilks Head & Eve LLP

Wilks Head & Eve LLP (Registered number: OC315743)






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


Wilks Head & Eve LLP

General Information
for the Year Ended 31 March 2025







DESIGNATED MEMBERS: A M Williams
G S C Harbord
S O'Neill
M S Aldis





REGISTERED OFFICE: Part 3rd Floor
55 New Oxford Street
London
WC1A 1BS





REGISTERED NUMBER: OC315743 (England and Wales)





ACCOUNTANTS: Braidwood Graham Ltd
Chartered Accountants
4 Copperbeech Court
Cavalry Park
Peebles
Borders
EH45 9BU

Wilks Head & Eve LLP (Registered number: OC315743)

Balance Sheet
31 March 2025

31.3.25 31.3.24
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 53,741 70,137

CURRENT ASSETS
Debtors 5 1,120,443 1,499,209
Cash at bank 620,652 168,130
1,741,095 1,667,339
CREDITORS
Amounts falling due within one year 6 652,094 668,224
NET CURRENT ASSETS 1,089,001 999,115
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,142,742

1,069,252

CREDITORS
Amounts falling due after more than one
year

7

2,924

26,510
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,139,818

1,042,742

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

539,818

442,742

MEMBERS' OTHER INTERESTS
Capital accounts 600,000 600,000
1,139,818 1,042,742

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 539,818 442,742
Members' other interests 600,000 600,000
1,139,818 1,042,742

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.

Wilks Head & Eve LLP (Registered number: OC315743)

Balance Sheet - continued
31 March 2025


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 18 June 2025 and were signed by:




A M Williams - Designated member




G S C Harbord - Designated member


Wilks Head & Eve LLP (Registered number: OC315743)

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

1. STATUTORY INFORMATION

Wilks Head & Eve 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.

Then modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Significant judgements and estimates
The preparation of financial statements in accordance with FRS 102 requires management to make
estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting policies are recognised in the year in which the estimate is revised and in any future years affected. There are no significant accounting estimates or judgements affecting the financial statements.

Turnover
Turnover represents the amounts recoverable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time.

If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and thus the control of the Limited Liability Partnership), then the revenue is recognised only when the event occurs. In such cases, costs incurred up to the balance sheet date are carried forward as work in progress.

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - straight line over 3 years

Financial instruments
The limited liability partnership has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Wilks Head & Eve LLP (Registered number: OC315743)

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

2. ACCOUNTING POLICIES - continued

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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the leases. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the asset's fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss so as to produce a constant periodic rate of interest on the remaining balance of the 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.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the limited liability partnership is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Wilks Head & Eve LLP (Registered number: OC315743)

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

2. ACCOUNTING POLICIES - continued

Basic financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and changes in fair value are recognised in profit and loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the limited liability partnership transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the limited liability partnership after deducting all of its liabilities.

Tangible fixed assets
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Impairment of fixed assets
At each reporting period end date, the limited liability partnership reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the limited liability partnership estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.


Wilks Head & Eve LLP (Registered number: OC315743)

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

2. ACCOUNTING POLICIES - continued
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit and loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit and loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial liabilities
Basic financial liabilities, including bank loans, loans from fellow group companies and preference shares that are classified as a debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the limited liability partnership's obligations expire or are discharged or cancelled.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 24 (2024 - 20 ) .

Wilks Head & Eve LLP (Registered number: OC315743)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2024 1,998 205,484 10,835 218,317
Additions - - 2,404 2,404
At 31 March 2025 1,998 205,484 13,239 220,721
DEPRECIATION
At 1 April 2024 845 138,585 8,750 148,180
Charge for year 231 16,725 1,844 18,800
At 31 March 2025 1,076 155,310 10,594 166,980
NET BOOK VALUE
At 31 March 2025 922 50,174 2,645 53,741
At 31 March 2024 1,153 66,899 2,085 70,137

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Trade debtors 520,391 669,787
Amounts owed by participating interests - 16,665
Other debtors 600,052 812,757
1,120,443 1,499,209

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Bank loans and overdrafts 308,703 -
Hire purchase contracts (see note 8) 23,586 23,586
Trade creditors 58,391 79,385
Amounts owed to participating interests 32,685 -
Taxation and social security 112,827 83,197
Other creditors 115,902 482,056
652,094 668,224

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.25 31.3.24
£    £   
Hire purchase contracts (see note 8) 2,924 26,510

Wilks Head & Eve LLP (Registered number: OC315743)

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

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.25 31.3.24
£    £   
Net obligations repayable:
Within one year 23,586 23,586
Between one and five years 2,924 26,510
26,510 50,096

Non-cancellable operating leases
31.3.25 31.3.24
£    £   
Within one year 76,050 83,813
Between one and five years 304,200 304,200
In more than five years 171,112 247,162
551,362 635,175

Finance lease obligations
Finance lease payments represent rentals payable by the limited liability partnership for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 3 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

9. LOANS AND OTHER DEBTS DUE TO MEMBERS
31.3.25 31.3.24
£    £   
Amounts owed to members in respect of profits 539,818 442,742

Falling due within one year 539,818 442,742

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

10. PENSION COMMITMENTS

The limited liability partnership operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the limited liability partnership in an independently administered fund.

The charge to the profit and loss in respect of defined contribution schemes was £16,968 (2024 -£16,803 ).