Clague LLP Filleted accounts for Companies House (small and micro)

REGISTERED NUMBER: OC335948

Clague LLP

Filleted Unaudited Financial Statements

31 March 2025

Clague LLP

Financial Statements

Year ended 31 March 2025

Contents	Pages

Designated members and professional advisers	1

Statement of financial position	2 to 3

Notes to the financial statements	4 to 7

Clague LLP

Designated Members and Professional Advisers

Designated members	Mr K Elliott
	Mr L Batten
	Mr P Mills
	Mrs C Butterworth
	Mr S Bonnage
	Mr M Colloton
	Mr P Osborne
	Mr T Wolfe-Murray
	Mr G Esdaile
Registered office	Camburgh House
	27 New Dover Road
	Canterbury
	Kent
	CT1 3DN
Accountants	Burgess Hodgson Limited
	Chartered accountants
	Camburgh House
	27 New Dover Road
	Canterbury
	Kent
	CT1 3DN

Clague LLP

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		214,889	254,457

Current assets

Stocks		599,514	469,380
Debtors	6	194,619	174,970
Cash at bank and in hand		1,405	5,020
		---------	---------
		795,538	649,370

Creditors: amounts falling due within one year	7	608,275		509,149
		---------		---------
Net current assets			187,263	140,221
			---------	---------
Total assets less current liabilities			402,152	394,678

Creditors: amounts falling due after more than one year	8	73,020	159,258
		---------	---------
Net assets		329,132	235,420
		---------	---------

Represented by:

Loans and other debts due to members

Other amounts	9	329,132	235,420
		---------	---------

Members' other interests

Other reserves	–	–
	---------	---------
	329,132	235,420
	---------	---------

Total members' interests

Amounts due from members		(1,870)	–
Loans and other debts due to members	9	329,132	235,420
Members' other interests		–	–
		---------	---------
		327,262	235,420
		---------	---------

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.

Clague 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 28 April 2025 , and are signed on their behalf by:

Mr K Elliott	Mr L Batten
Designated Member	Designated Member

Mr P Mills	Mrs C Butterworth
Designated Member	Designated Member

Mr S Bonnage	Mr M Colloton
Designated Member	Designated Member

Mr P Osborne	Mr T Wolfe-Murray
Designated Member	Designated Member

Mr G Esdaile
Designated Member

Registered number: OC335948

Clague LLP

Notes to the Financial Statements

Year ended 31 March 2025

1.	General information

The LLP is registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN.

2.	Statement of compliance

These financial statements have been prepared in compliance with Section 1A 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' issued in December 2021 (SORP 2021).

3.	Accounting policies

Basis of preparation

The financial statements have been prepared on the 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 entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

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 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 Income statement 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.

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 income statement 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'.

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.

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:

Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

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

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4.	Employee numbers

The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 48 (2024: 51 ).

5.	Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 April 2024	50,559	519,577	274,791	844,927
Additions	–	28,996	–	28,996
	--------	---------	---------	---------
At 31 March 2025	50,559	548,573	274,791	873,923
	--------	---------	---------	---------
Depreciation
At 1 April 2024	50,559	411,613	128,298	590,470
Charge for the year	–	29,312	39,252	68,564
	--------	---------	---------	---------
At 31 March 2025	50,559	440,925	167,550	659,034
	--------	---------	---------	---------
Carrying amount
At 31 March 2025	–	107,648	107,241	214,889
	--------	---------	---------	---------
At 31 March 2024	–	107,964	146,493	254,457
	--------	---------	---------	---------

6.	Debtors

	2025	2024
	£	£
Other debtors	194,619	174,970
	---------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	102,545	87,592
Trade creditors	120,000	94,732
Social security and other taxes	290,126	225,046
Other creditors	95,604	101,779
	---------	---------
	608,275	509,149
	---------	---------

The LLP's bankers have a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery.

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	4,587	58,166
Other creditors	68,433	101,092
	--------	---------
	73,020	159,258
	--------	---------

9.	Loans and other debts due to members

	2025	2024
	£	£
Amounts owed to members in respect of profits	329,132	235,420
	---------	---------