REGISTERED NUMBER: OC362074 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

MARK J REES LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

5

DESIGNATED MEMBERS:

Paul Hollinshead Limited

Mark R Harrison Limited

Andrew R Turner Limited

Westleigh J Scales Limited

Matthew D Vice Limited

Phillip P Bott Limited

REGISTERED OFFICE:

Granville Hall

Granville Road

Leicester

LE1 7RU

REGISTERED NUMBER:

OC362074 (England and Wales)

ACCOUNTANTS:

Mark J Rees LLP Chartered Accountants

Granville Hall

Granville Road

Leicester

Leicestershire

LE1 7RU

FIXED ASSETS

Tangible assets

4

209,346

248,720

Investments

5

-

100

209,346

248,820

CURRENT ASSETS

Stocks

10,925

8,094

Debtors

6

1,718,919

1,250,913

Cash at bank and in hand

308,485

162,579

2,038,329

1,421,586

CREDITORS

Amounts falling due within one year

7

763,636

645,979

NET CURRENT ASSETS

1,274,693

775,607

TOTAL ASSETS LESS CURRENT LIABILITIES

1,484,039

1,024,427

CREDITORS

Amounts falling due after more than one year

8

20,834

70,834

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,463,205

953,593

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

1,457,205

947,593

MEMBERS' OTHER INTERESTS

Capital accounts

6,000

6,000

1,463,205

953,593

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

1,457,205

947,593

Members' other interests

6,000

6,000

1,463,205

953,593

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 30 November 2024.

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 13 August 2025 and were signed by:

Paul Hollinshead Limited - Designated member

Andrew R Turner Limited - Designated member

1.	STATUTORY INFORMATION

Mark J Rees 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.

Turnover

Turnover represents amounts chargeable to clients for the provision of professional services that have been provided during the year. These amounts include direct recoverable expenses incurred but exclude Value Added Tax. The LLP recognises income, including expenses, at the point where it obtains the right to consideration. The excess of the right to consideration over invoiced amounts is shown within accrued income. Turnover in respect of contingent fee assignments is only recognised when the contingent event occurs.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 60 (2023 - 63 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Office

and

Motor

Computer

equipment

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 December 2023

227,993

61,971

189,930

7,991

487,885

Additions

4,577

8,232

-

-

12,809

At 30 November 2024

232,570

70,203

189,930

7,991

500,694

DEPRECIATION

At 1 December 2023

139,291

32,286

59,597

7,991

239,165

Charge for year

13,912

5,688

32,583

-

52,183

At 30 November 2024

153,203

37,974

92,180

7,991

291,348

NET BOOK VALUE

At 30 November 2024

79,367

32,229

97,750

-

209,346

At 30 November 2023

88,702

29,685

130,333

-

248,720

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 December 2023

100

Disposals

(100

)

At 30 November 2024

-

NET BOOK VALUE

At 30 November 2024

-

At 30 November 2023

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,298,944

1,157,318

Other debtors

419,975

93,595

1,718,919

1,250,913

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

50,000

50,000

Hire purchase contracts

-

14,254

Trade creditors

64,591

74,639

Taxation and social security

290,748

257,616

Other creditors

358,297

249,470

763,636

645,979

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

20,834

70,834

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

70,834

120,834

Hire purchase contracts

-

14,254

70,834

135,088

The hire purchase contracts are secured against the asset to which they relate.

The bank loan is secured by way of fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, uncalled capital, buildings, fixtures, fixed plant & machinery.

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

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

11.	PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company within an independently administered fund. The charge for the year was £53,479. (2023: £45,758). Contributions of £10,763 (2023: £9,299) were unpaid at the year end.

12.	RELATED PARTY DISCLOSURES

The Designated Members have provided personal guarantees to Nat West Bank Plc totalling £252,000 (2023: £252,000).