Randall & Payne LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC345710 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

RANDALL & PAYNE LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

T J Watkins

W J Abbott

R I Case

O A Newbold

REGISTERED OFFICE:

Chargrove House

Shurdington Road

Shurdington

Cheltenham

Glos

GL51 4GA

REGISTERED NUMBER:

OC345710 (England and Wales)

ACCOUNTANTS:

Randall & Payne LLP

Chartered Accountants

Chargrove House

Shurdington Road

Cheltenham

Gloucestershire

GL51 4GA

FIXED ASSETS

Intangible assets

4

593,559

748,846

Tangible assets

5

35,586

39,855

629,145

788,701

CURRENT ASSETS

Debtors

6

1,309,331

1,446,114

CREDITORS

Amounts falling due within one year

7

802,933

1,243,721

NET CURRENT ASSETS

506,398

202,393

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,135,543

991,094

CREDITORS

Amounts falling due after more than one
year

8

232,754

108,045

NET ASSETS ATTRIBUTABLE TO
MEMBERS

902,789

883,049

LOANS AND OTHER DEBTS DUE TO
MEMBERS

11

822,789

803,049

MEMBERS' OTHER INTERESTS

Capital accounts

80,000

902,789

883,049

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

11

822,789

803,049

Members' other interests

80,000

Amounts due from members

6

(732,664

)

(697,746

)

170,125

185,303

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 31 March 2025.

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 24 June 2025 and were signed by:

T J Watkins - Designated member

1.	STATUTORY INFORMATION

Randall & Payne 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 comprises revenue recognised by the LLP in respect of goods and services supplied, exclusive of Value Added Tax. Work in progress is valued at selling price and is included as turnover and accrued income.

Goodwill

Goodwill represents amounts paid in connection with past acquisitions and is being written off evenly over its estimated useful life of 5 or 10 years.

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

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

Short leasehold

-

10% on cost

Fixtures and fittings

-

10% on reducing balance

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.

Going concern

The members have considered the risks and issues concerning the LLP and it's activities and no material uncertainties that may cast significant doubt about the LLPs ability to continue as a going concern have been identified by the members.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2024 - NIL).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

1,912,454

Additions

925

At 31 March 2025

1,913,379

AMORTISATION

At 1 April 2024

1,163,608

Charge for year

156,212

At 31 March 2025

1,319,820

NET BOOK VALUE

At 31 March 2025

593,559

At 31 March 2024

748,846

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

leasehold

fittings

Totals

£

COST

At 1 April 2024

and 31 March 2025

195,441

117,171

312,612

DEPRECIATION

At 1 April 2024

184,582

88,175

272,757

Charge for year

1,369

2,900

4,269

At 31 March 2025

185,951

91,075

277,026

NET BOOK VALUE

At 31 March 2025

9,490

26,096

35,586

At 31 March 2024

10,859

28,996

39,855

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

375,033

369,812

Amounts due from members

732,664

697,746

Other debtors

18,063

5,770

Prepayments and accrued income

183,571

372,786

1,309,331

1,446,114

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.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

162,803

249,019

Trade creditors

401,411

584,650

VAT

200,525

208,145

Other creditors

29,872

198,805

Accrued expenses

8,322

3,102

802,933

1,243,721

Short term creditors are measured at 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.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Bank loans repayable between

one and two years

124,293

93,742

Bank loans repayable between

two and five years

108,461

-

Other creditors

-

14,303

232,754

108,045

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

Within one year

192,692

144,882

Between one and five years

729,909

718,968

In more than five years

469,333

645,333

1,391,934

1,509,183

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank overdrafts

66,017

128,687

Bank loans

329,540

214,074

395,557

342,761

The bank overdraft and bank loans are secured by means of a fixed and floating charge over the assets of the LLP.

11.

LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of the LLP winding up, creditors interests will be met first and interests of the members will be met last.