7 false false false false false false false false false false false false false false false false false No description of principal activity 2024-04-01 Sage Accounts Production Advanced 2024 - FRS102_2024 69,790 41,870 3,102 44,972 24,818 27,920 xbrli:pure xbrli:shares iso4217:GBP OC326364 2024-04-01 2025-03-31 OC326364 2025-03-31 OC326364 2024-03-31 OC326364 2023-05-01 2024-03-31 OC326364 2024-03-31 OC326364 2023-04-30 OC326364 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-01 2025-03-31 OC326364 core:FurnitureFittings 2024-04-01 2025-03-31 OC326364 bus:Director1 2024-04-01 2025-03-31 OC326364 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 OC326364 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-03-31 OC326364 core:FurnitureFittings 2024-03-31 OC326364 core:MotorVehicles 2024-03-31 OC326364 core:FurnitureFittings 2025-03-31 OC326364 core:MotorVehicles 2025-03-31 OC326364 core:MotorVehicles 2024-04-01 2025-03-31 OC326364 core:WithinOneYear 2025-03-31 OC326364 core:WithinOneYear 2024-03-31 OC326364 core:AfterOneYear 2025-03-31 OC326364 core:AfterOneYear 2024-03-31 OC326364 core:BetweenOneFiveYears 2025-03-31 OC326364 core:BetweenOneFiveYears 2024-03-31 OC326364 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 OC326364 core:FurnitureFittings 2024-03-31 OC326364 core:MotorVehicles 2024-03-31 OC326364 bus:SmallEntities 2024-04-01 2025-03-31 OC326364 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 OC326364 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 OC326364 bus:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 OC326364 bus:FullAccounts 2024-04-01 2025-03-31 OC326364 core:OfficeEquipment 2024-04-01 2025-03-31 OC326364 core:OfficeEquipment 2024-03-31 OC326364 core:OfficeEquipment 2025-03-31
REGISTERED NUMBER: OC326364
Marson, Rathbone Taylor LLP
Filleted Unaudited Financial Statements
31 March 2025
Marson, Rathbone Taylor LLP
Statement of Financial Position
31 March 2025
2025
2024
Note
£
£
£
Fixed assets
Intangible assets
4
24,818
27,920
Tangible assets
5
32,283
36,831
-------
-------
57,101
64,751
Current assets
Debtors
6
102,218
99,610
Cash at bank and in hand
102,473
196,217
--------
--------
204,691
295,827
Prepayments and accrued income
2,697
2,588
Creditors: amounts falling due within one year
7
78,110
96,931
--------
--------
Net current assets
129,278
201,484
--------
--------
Total assets less current liabilities
186,379
266,235
Creditors: amounts falling due after more than one year
8
3,334
13,333
Accruals and deferred income
4,825
4,600
--------
--------
Net assets
178,220
248,302
--------
--------
Represented by:
Loans and other debts due to members
Other amounts
9
178,220
248,302
--------
--------
Members' other interests
Other reserves
--------
--------
178,220
248,302
--------
--------
Total members' interests
Loans and other debts due to members
9
178,220
248,302
Members' other interests
--------
--------
178,220
248,302
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.
Marson, Rathbone Taylor LLP
Statement of Financial Position (continued)
31 March 2025
For the year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the members and authorised for issue on 30 June 2025 , and are signed on their behalf by:
S. J. Marson
Designated Member
Registered number: OC326364
Marson, Rathbone Taylor LLP
Notes to the Financial Statements
Year ended 31 March 2025
1.
General information
The Limited Liability Partnership is registered and trading in England and Wales with number OC326364 . The registered office address is The Old Granary, Windsor Court, Stratford Upon Avon, Warwickshire, CV37 6GG.
2.
Accounting policies
Basis of preparation
The financial statements have been prepared on historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the LLP and rounded to the nearest £.
Judgements and key sources of estimation uncertainty
In preparing these financial statements the members have had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. Estimates and associated assumptions are based on historic experience and various other factors including expectations of future events that are believed to be reasonable under the circumstances, however actual results may differ from these estimates. For this reporting date there are no significant judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.
Revenue recognition
Turnover, represents amounts invoiced, excluding value added tax, in respect of the sale of goods and services. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced, calculated by reference to the stage of completion.
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 the 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.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Leasehold property
-
11% reducing balance
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible 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
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:
Fixtures and Fittings
-
15% reducing balance
Motor Vehicles
-
Over the finance term at cost minus the GMFV
Plant and Equipment
-
15% reducing balance
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
The LLP only has basic financial instruments. - Financial assets Financial assets comprise items such as cash at bank and in hand and trade and other debtors. These are initially recorded at cost on the date they originate, the LLP considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit and loss. - Financial liabilities Financial liabilities comprise items such as corporation and other taxes, bank and other loans, accruals and trade and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable, the LLP considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit and loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
3.
Employee numbers
The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 7 (2024: 9 ).
4.
Intangible assets
Leasehold property
£
Cost
At 1 April 2024 and 31 March 2025
69,790
-------
Amortisation
At 1 April 2024
41,870
Charge for the year
3,102
-------
At 31 March 2025
44,972
-------
Carrying amount
At 31 March 2025
24,818
-------
At 31 March 2024
27,920
-------
5.
Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 April 2024
6,579
68,255
57,346
132,180
Additions
1,375
584
1,959
------
-------
-------
--------
At 31 March 2025
7,954
68,255
57,930
134,139
------
-------
-------
--------
Depreciation
At 1 April 2024
5,190
50,838
39,321
95,349
Charge for the year
243
3,480
2,784
6,507
------
-------
-------
--------
At 31 March 2025
5,433
54,318
42,105
101,856
------
-------
-------
--------
Carrying amount
At 31 March 2025
2,521
13,937
15,825
32,283
------
-------
-------
--------
At 31 March 2024
1,389
17,417
18,025
36,831
------
-------
-------
--------
6.
Debtors
2025
2024
£
£
Trade debtors
102,218
99,610
--------
-------
7. Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
4,585
4,353
Social security and other taxes
28,609
33,568
Other creditors
34,916
49,010
-------
-------
78,110
96,931
-------
-------
8. Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
3,334
13,333
------
-------
9.
Loans and other debts due to members
2025
2024
£
£
Amounts owed to members in respect of profits
178,220
248,302
--------
--------
10.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2025
2024
£
£
Not later than 1 year
715
715
Later than 1 year and not later than 5 years
715
1,430
------
------
1,430
2,145
------
------