REGISTERED NUMBER: OC343756 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Neale Turk LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

A D D Green

Mrs C L Searle

J C Wheeler

REGISTERED OFFICE:

74 Bounty Road

Basingstoke

Hampshire

RG21 3BZ

REGISTERED NUMBER:

OC343756 (England and Wales)

ACCOUNTANTS:

Lane Monnington Welton

Chartered Accountants

Riverside View

Basing Road

Old Basing

Basingstoke

Hampshire

RG24 7AL

FIXED ASSETS

Tangible assets

4

61,112

73,120

CURRENT ASSETS

Stocks

61,142

94,143

Debtors

5

201,936

226,564

Cash at bank and in hand

610,261

231,877

873,339

552,584

CREDITORS

Amounts falling due within one year

6

379,236

551,388

NET CURRENT ASSETS

494,103

1,196

TOTAL ASSETS LESS CURRENT LIABILITIES

555,215

74,316

CREDITORS

Amounts falling due after more than one year

7

36,816

46,555

NET ASSETS ATTRIBUTABLE TO MEMBERS

518,399

27,761

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

518,399

27,761

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

518,399

27,761

Amounts due from members

5

-

(31,222

)

518,399

(3,461

)

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 18 September 2025 and were signed by:

J C Wheeler - Designated member

1.	STATUTORY INFORMATION

Neale Turk LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

Last year the year end of the LLP was shortened by 1 month from 30 April 2024 to 31 March 2024 due to the basis period reform by HMRC. The comparative amounts presented in the financial statements (including the related notes) are therefore not entirely comparable.

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, which is stated net of value added tax, represents the value of professional services provided to clients during the year.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Amounts recoverable from clients in respect on unbilled work performed

Services provided during the year to clients that at the balance sheet date have not yet been billed are recognised as turnover. Turnover is recognised by reference to an assessment of the fair value of the services provided at the balance sheet date as a proportion of the total value of the engagement.

Financial instruments

Debtors and creditors payable/receivable within one year

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

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.

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.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

Impairment

Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

Tax provisions

The taxation payable on the profits of the LLP is solely the personal liability of the members during the period.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 22 (2024 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

6,245

105,924

38,687

150,856

Additions

1,015

-

8,623

9,638

At 31 March 2025

7,260

105,924

47,310

160,494

DEPRECIATION

At 1 April 2024

5,390

36,969

35,377

77,736

Charge for year

469

17,239

3,938

21,646

At 31 March 2025

5,859

54,208

39,315

99,382

NET BOOK VALUE

At 31 March 2025

1,401

51,716

7,995

61,112

At 31 March 2024

855

68,955

3,310

73,120

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

131,355

121,827

Other debtors

70,581

104,737

201,936

226,564

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

104,997

125,311

Hire purchase contracts (see note 8)

9,738

15,996

Trade creditors

5,000

5,000

Taxation and social security

81,633

67,372

Other creditors

177,868

337,709

379,236

551,388

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts (see note 8)

36,816

46,555

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.3.25

31.3.24

£

£

Net obligations repayable:

Within one year

9,738

15,996

Between one and five years

36,816

46,555

46,554

62,551

Non-cancellable

operating leases

31.3.25

31.3.24

£

£

Within one year

87,100

91,440

Between one and five years

336,000

339,100

In more than five years

1,099,000

1,183,000

1,522,100

1,613,540

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Hire purchase contracts

46,554

62,551

The obligations under hire purchase agreements are secured against the assets to which they relate.

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of winding up, members' other interests rank after secured creditors. Loans and other debts due to members rank pari passu with unsecured creditors in the event of a winding up.

There is no further formal protection afforded to creditors in the event of a winding up.

There are no restrictions on the ability of members to reduce the amount of members' other interests.