The O'Shea Partnership LLP

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: OC311583

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		4,541,285		4,525,168

			4,541,285		4,525,168
CURRENT ASSETS
Debtors	5	682,686		739,967

		682,686		739,967
Creditors: Amounts Falling Due Within One Year	6	(433,994 )		(412,620 )

NET CURRENT ASSETS (LIABILITIES)			248,692		327,347

TOTAL ASSETS LESS CURRENT LIABILITIES			4,789,977		4,852,515

Creditors: Amounts Falling Due After More Than One Year	7		(1,018,826 )		(1,136,407 )

NET ASSETS ATTRIBUTABLE TO MEMBERS			3,771,151		3,716,108

REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts		601,356		492,292

			601,356		492,292

Equity
Members' other interests
Revaluation reserve		1,706,700		1,706,700
Other reserves		1,463,095		1,517,116

			3,169,795		3,223,816

			3,771,151		3,716,108

TOTAL MEMBERS' INTEREST
Amounts due from members			(494,551)		(521,561)
Loans and other debts due to members within one year			601,356		492,292
Members' other interests			3,169,795		3,223,816

			3,276,600		3,194,547

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The O'Shea Partnership LLP

Balance Sheet (continued)

As At 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 applicable to LLPs subject to the small LLPs regime.)

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 accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

On behalf of the members

Ms Lorna O'Shea

Designated Member

8 September 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

The O'Shea Partnership LLP is a limited liability partnership, incorporated in England & Wales, registered number OC311583 . The Registered Office is 17 Hart Street , Maidstone, Kent, ME16 8RA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	15% reducing balance on improvements
Plant & Machinery	30% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	30% reducing balance
Computer Equipment	30% reducing balance

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the LLP. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: NIL (2024: NIL)

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 April 2024	4,562,699	20,985	100,081	107,962
Additions	-	-	47,682	-

As at 31 March 2025	4,562,699	20,985	147,763	107,962

...CONTINUED

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The O'Shea Partnership LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Depreciation
As at 1 April 2024	90,028	20,879	50,322	105,411
Provided during the period	6,384	32	24,360	765

As at 31 March 2025	96,412	20,911	74,682	106,176

Net Book Value
As at 31 March 2025	4,466,287	74	73,081	1,786

As at 1 April 2024	4,472,671	106	49,759	2,551


	Computer Equipment	Total
	£	£
Cost
As at 1 April 2024	18,774	4,810,501
Additions	-	47,682

As at 31 March 2025	18,774	4,858,183

Depreciation
As at 1 April 2024	18,693	285,333
Provided during the period	24	31,565

As at 31 March 2025	18,717	316,898

Net Book Value
As at 31 March 2025	57	4,541,285

As at 1 April 2024	81	4,525,168

5. Debtors

	2025	2024
	£	£
Due within one year
Other debtors	682,686	739,967

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	9,561	10,431
Trade creditors	4	-
Amounts owed to participating interests	422,743	400,707
Other creditors	1,686	1,482

	433,994	412,620

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	25,408	34,101
Bank loans	993,418	1,102,306

	1,018,826	1,136,407

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The O'Shea Partnership LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

8. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	9,561	10,431
Later than one year and not later than five years	25,408	34,101

	34,969	44,532

	34,969	44,532

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