Burton & Co LLP Filleted accounts for Companies House (small and micro)

REGISTERED NUMBER: OC335124

BURTON & CO LLP

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 March 2025

BURTON & CO LLP

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	210,072	24,984
Investments	6	10,250	–
		----------	---------
		220,322	24,984

Current assets

Unbilled Work		366,557	432,218
Debtors	7	342,265	390,466
Cash at bank and in hand		20,708	66
		----------	----------
		729,530	822,750

Creditors: amounts falling due within one year	8	343,175	280,435
		----------	----------
Net current assets		386,355	542,315
		----------	----------
Total assets less current liabilities		606,677	567,299

Creditors: amounts falling due after more than one year	9	296,050	218,389
		----------	----------
Net assets		310,627	348,910
		----------	----------

Represented by:

Loans and other debts due to members

Other amounts	10	310,627	348,910
		----------	----------

Members' other interests

Other reserves	–	–
	----------	----------
	310,627	348,910
	----------	----------

Total members' interests

Loans and other debts due to members	10	310,627	348,910
Members' other interests		–	–
		----------	----------
		310,627	348,910
		----------	----------

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.

BURTON & CO 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 8 August 2025 , and are signed on their behalf by:

R W French

Designated Member

Registered number: OC335124

BURTON & CO 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 20 - 26 Corpration Street, Corporation Street, Lincoln, LN2 1HN, England.

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.

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'.

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:

Land & buildings	-	10% straight line
Equipment	-	25% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the LLP will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the LLP recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

4.	Employee numbers

The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 29 (2024: 28 ).

5.	Tangible assets

	Land and buildings	Equipment	Total
	£	£	£
Cost
At 1 April 2024	69,740	353,275	423,015
Additions	153,661	34,194	187,855
Disposals	–	( 353,275)	( 353,275)
	----------	----------	----------
At 31 March 2025	223,401	34,194	257,595
	----------	----------	----------
Depreciation
At 1 April 2024	44,756	353,275	398,031
Charge for the year	2,767	–	2,767
Disposals	–	( 353,275)	( 353,275)
	----------	----------	----------
At 31 March 2025	47,523	–	47,523
	----------	----------	----------
Carrying amount
At 31 March 2025	175,878	34,194	210,072
	----------	----------	----------
At 31 March 2024	24,984	–	24,984
	----------	----------	----------

6.	Investments

	Other investments other than loans
	£
Cost
At 1 April 2024	–
Additions	10,250
	---------
At 31 March 2025	10,250
	---------
Impairment
At 1 April 2024 and 31 March 2025	–
	---------

Carrying amount
At 31 March 2025	10,250
	---------
At 31 March 2024	–
	---------

7.	Debtors

	2025	2024
	£	£
Trade debtors	320,356	362,068
Other debtors	21,909	28,398
	----------	----------
	342,265	390,466
	----------	----------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	233,135	137,151
Trade creditors	260	8,270
Social security and other taxes	86,597	100,195
Other creditors	23,183	34,819
	----------	----------
	343,175	280,435
	----------	----------

The bank hold a fixed and floating charge over the assets of the LLP. The partners have also provided personal guarantees up to an aggregate total of £315,000.

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

	2025	2024
	£	£
Bank loans and overdrafts	296,050	211,334
Other creditors	–	7,055
	----------	----------
	296,050	218,389
	----------	----------

10.	Loans and other debts due to members

	2025	2024
	£	£
Amounts owed to members in respect of profits	310,627	348,910
	----------	----------

11.	Controlling party

The partnership was under the control of the members throughout the current and previous year.