| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| FOR |
| BAILEY WALSH & CO LLP |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| FOR |
| BAILEY WALSH & CO LLP |
| BAILEY WALSH & CO LLP (REGISTERED NUMBER: OC309324) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3 |
| BAILEY WALSH & CO LLP (REGISTERED NUMBER: OC309324) |
| BALANCE SHEET |
| 31ST MARCH 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| and |
| NET ASSETS ATTRIBUTABLE TO MEMBERS | 687,504 | 784,911 |
| LOANS AND OTHER DEBTS DUE TO MEMBERS | 8 | 687,504 | 784,911 |
| TOTAL MEMBERS' INTERESTS |
| Loans and other debts due to members | 8 | 687,504 | 784,911 |
| Amounts due from members | 6 | - | (35,219 | ) |
| 687,504 | 749,692 |
| 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. |
| BAILEY WALSH & CO LLP (REGISTERED NUMBER: OC309324) |
| BALANCE SHEET - continued |
| 31ST MARCH 2025 |
| The financial statements were approved by the members of the LLP and authorised for issue on |
| BAILEY WALSH & CO LLP (REGISTERED NUMBER: OC309324) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 1. | STATUTORY INFORMATION |
| Bailey Walsh & Co LLP is registered in England and Wales. The LLP's registered number and registered office address are as below: |
| Registered number: |
| Registered office: |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| At the time of signing these accounts, having considered the economic climate, the members expectations and intentions for the next 12 months, and the availability of working capital, the members are of the opinion that the company will remain viable for the foreseeable future and accordingly these financial statements have been prepared on the going concern basis. |
| Turnover |
| Turnover represents amounts chargeable to clients for professional services provided during the year, including recoverable expenses on client assignments but excluding value added tax . |
| Goodwill |
| 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 |
| Land and buildings | - |
| Plant and machinery etc | - |
| Financial instruments |
| The company only enters into transactions in ‘basic’ financial instruments which result in the recognition of assets and liabilities; these include trade and other debtors and creditors, bank balances, loans from banks and other third parties, and loans to related parties. These are recognised in the company’s balance sheet when it becomes party to the contractual provisions of the instrument. |
| Basic financial assets (other than those classified as payable within one year) are initially measured at cost and are subsequently carried at cost or amortised cost using the effective interest method, less any impairment losses. Basic financial assets classed as receivable within one year are not amortised. |
| Basic financial liabilities (other than those classified as payable within one year) are initially measured at present value of future cash flows and subsequently at amortised cost using the effective interest method. Basic financial liabilities classed as payable within one year are not amortised. |
| Financial assets and liabilities are offset, with the net amount reported 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. |
| BAILEY WALSH & CO LLP (REGISTERED NUMBER: OC309324) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| 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. |
| Taxation |
| The taxation payable on profits is the personal liability of the members during the year. Consequently taxation arising in respect of Bailey Walsh & Co. LLP is not accounted for in these financial statements. Amounts retained for tax are treated in the same way as other profits of the partnership and so are included in " Loans and other debts due to members " . |
| Allocation of profits and drawings |
| Profits are allocated between the members as agreed at the commencement of each financial year, after payment of interest on capital. |
| During the year members receive monthly drawings , and , from time to time , additional profit distributions. Both the monthly drawings and the profit distributions are deducted from allocated profits. |
| Amounts to be billed to clients |
| Services provided to clients, which at the balance sheet date have not been billed to clients, have been recognised as turnover. Unbilled revenue is included in debtors. |
| 3. | EMPLOYEE INFORMATION |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1st April 2024 |
| and 31st March 2025 |
| AMORTISATION |
| At 1st April 2024 |
| and 31st March 2025 |
| NET BOOK VALUE |
| At 31st March 2025 |
| At 31st March 2024 |
| BAILEY WALSH & CO LLP (REGISTERED NUMBER: OC309324) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1st April 2024 |
| and 31st March 2025 |
| DEPRECIATION |
| At 1st April 2024 |
| Charge for year |
| At 31st March 2025 |
| NET BOOK VALUE |
| At 31st March 2025 |
| At 31st March 2024 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Amounts to be billed to |
| clients | 54,475 | 37,420 |
| Amounts due from members | - | 35,219 |
| Prepayments |
| Deposits paid in advance | 48,968 | 63,337 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| VAT |
| Other Creditors | 11,004 | 74,636 |
| PAYE and NI | 7,898 | 7,678 |
| Pensions | - | 3,062 |
| Accruals and deferred income |
| BAILEY WALSH & CO LLP (REGISTERED NUMBER: OC309324) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2025 |
| 8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
| 2025 | 2024 |
| £ | £ |
| Loans from members | 324,298 | 324,298 |
| Amounts owed to members in respect of profits | 363,206 | 460,613 |
| 687,504 | 784,911 |
| Falling due within one year | 687,504 | 784,911 |
| In the event of winding up, amounts in ' Loans and other debts due to members' ( other than members' capital classified as debt ) would rank subject to the provisions of the Insolvency Act 1986 as amended by the Act and the Regulations. As to the payment of preferential and other debts ( including advances ), any surplus remaining shall be distributed among the Members rateably in the proportions in which they shared profits immediately prior to commencement of the winding up. |
| For the avoidance of doubt, no Member has agreed with other Memberrs or with the LLP that they shall in the event of winding up the LLP contribute in any way to the assets of the LLP in accordance with Section 74 of the Insolvency Act. |
| 9. | ULTIMATE CONTROLLING PARTY |
| In the members' opinion , the partnership is controlled by the designated members. |