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REGISTERED NUMBER: OC329577 (England and Wales)















Unaudited Financial Statements For The Year Ended 31 March 2025

for

Summ.it Assist LLP

Summ.it Assist LLP (Registered number: OC329577)






Contents of the Financial Statements
For The Year Ended 31 March 2025




Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Summ.it Assist LLP

General Information
For The Year Ended 31 March 2025







DESIGNATED MEMBERS: S J Dunbar
A Jackson
J Simpson
LJ Brogden
A Doyle





REGISTERED OFFICE: 2nd Floor, 3 Hardman Square
Spinningfields
Manchester
M3 3EB





REGISTERED NUMBER: OC329577 (England and Wales)






Summ.it Assist LLP (Registered number: OC329577)

Statement of Financial Position
31 March 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 46,800 54,000
Tangible assets 5 53,483 51,578
Investments 6 36,319 40,100
136,602 145,678

CURRENT ASSETS
Debtors 7 611,139 457,873
Investments 8 4,300 12,218
Cash at bank 443,421 451,363
1,058,860 921,454
CREDITORS
Amounts falling due within one year 9 797,373 689,268
NET CURRENT ASSETS 261,487 232,186
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

398,089

377,864

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

398,089

377,864

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 398,089 377,864
Amounts due from members 7 (38,297 ) -
359,792 377,864

Summ.it Assist LLP (Registered number: OC329577)

Statement of Financial Position - continued
31 March 2025


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 15 July 2025 and were signed by:




A Jackson - Designated member




J Simpson - Designated member


Summ.it Assist LLP (Registered number: OC329577)

Notes to the Financial Statements
For The Year Ended 31 March 2025

1. STATUTORY INFORMATION

Summ.it Assist 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.

Preparation of consolidated financial statements
The financial statements contain information about Summ.it Assist 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 represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, 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 the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 10% on cost
Computer equipment - 33% on cost

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme for its staff members. Contributions payable to the LLP's pension scheme are charged to the profit and loss account in the period to which they relate.

Investments
Fixed asset investments are stated at cost less provision for permanent diminution in value.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 43 (2024 - 37 ) .

Summ.it Assist LLP (Registered number: OC329577)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2024
and 31 March 2025 72,000
AMORTISATION
At 1 April 2024 18,000
Charge for year 7,200
At 31 March 2025 25,200
NET BOOK VALUE
At 31 March 2025 46,800
At 31 March 2024 54,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2024 85,811
Additions 12,806
Disposals (3,781 )
At 31 March 2025 94,836
DEPRECIATION
At 1 April 2024 34,233
Charge for year 9,690
Eliminated on disposal (2,570 )
At 31 March 2025 41,353
NET BOOK VALUE
At 31 March 2025 53,483
At 31 March 2024 51,578

Summ.it Assist LLP (Registered number: OC329577)

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

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2024 40,100
Disposals (10,000 )
Reclassification/transfer 6,219
At 31 March 2025 36,319
NET BOOK VALUE
At 31 March 2025 36,319
At 31 March 2024 40,100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 456,977 361,706
Other debtors 154,162 96,167
611,139 457,873

8. CURRENT ASSET INVESTMENTS

The current asset investments represent shares held in 1 listed company. As at the balance sheet date, the LLP held 40,000 shares at a price of 10.75p per share.

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 46,223 48,067
Amounts owed to group undertakings 173,111 182,347
Taxation and social security 245,810 216,191
Other creditors 332,229 242,663
797,373 689,268

10. LOANS AND OTHER DEBTS DUE TO MEMBERS
2025 2024
£    £   
Amounts owed to members in respect of profits 398,089 377,864

Falling due within one year 398,089 377,864

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

Summ.it Assist LLP (Registered number: OC329577)

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

11. RELATED PARTY DISCLOSURES

During the year, the Company was charged £184,140 (2024 - £169,402) by Summ.IT Accounting (Mauritius) Limited for accounting services. Included in the accounts at the balance sheet date is £150,111 due to Summ.IT Accounting (Mauritius) Limited (2024 - £182,347).

12. ULTIMATE CONTROLLING PARTY

The limited liability partnership is controlled by the members.