Company No: OC339870 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.03.2025		31.12.2023
		£		£
Fixed assets
Tangible assets	3	2,247,995		2,250,851
		2,247,995		2,250,851
Current assets
Debtors	4	73,448		11,987
Cash at bank and in hand		64,790		24,950
		138,238		36,937
Creditors: amounts falling due within one year	5	( 61,969)		( 223,841)
Net current assets/(liabilities)		76,269		(186,904)
Total assets less current liabilities		2,324,264		2,063,947
Creditors: amounts falling due after more than one year	6	( 885,094)		( 856,462)
Net assets attributable to members		1,439,170		1,207,485
Represented by
Loans and other debts due to members after more than one year
Other amounts		577,662		509,493
		577,662		509,493
Members' other interests
Other reserves		861,508		697,992
		861,508		697,992
		1,439,170		1,207,485
Total members' interests
Loans and other debts due to members		577,662		509,493
Members' other interests		861,508		697,992
		1,439,170		1,207,485

For the financial period 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.

Members' responsibilities:

• The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Poole Position LLP (registered number: OC339870) were approved and authorised for issue by the Board of Directors on 23 September 2025. They were signed on its behalf by:

A G O Hildebrand Designated member

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Poole Position LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is 58 Holton Road, Holton Heath Trading Park, Poole, BH16 6LT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

Reporting period is length is 15 months from 01 January 2024 to 31 March 2025.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Barter transactions

Turnover is recognised in respect of barter transactions only where services are exchanged for dissimilar services and the transaction is deemed to have commercial substance. Such transactions are measured at the fair value of the services received, adjusted by any amount of cash and cash equivalents transferred.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

25 % reducing balance

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Derivative financial instruments
The LLP uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The LLP does not hold or issue derivative financial instruments for speculative purposes.

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in profit or loss immediately [unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.]

The LLP does not apply hedge accounting.

Hedge accounting
The LLP designates certain derivatives as hedging instruments in cash flow hedges and fair value hedges.

At the inception of the hedge relationship, the entity documents the economic relationship between the hedging instrument and the hedged item, along with its risk management objectives and clear identification of the risk in the hedged item that is being hedged by the hedging instrument. Furthermore, at the inception of the hedge the LLP determines and documents causes for hedge ineffectiveness.

2. Employees

	Period from 01.01.2024 to 31.03.2025		Year ended 31.12.2023
	Number		Number
Monthly average number of persons employed by the LLP during the period	3		3

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 January 2024	2,256,567		2,256,567
At 31 March 2025	2,256,567		2,256,567
Accumulated depreciation
At 01 January 2024	5,716		5,716
Charge for the financial period	2,856		2,856
At 31 March 2025	8,572		8,572
Net book value
At 31 March 2025	2,247,995		2,247,995
At 31 December 2023	2,250,851		2,250,851

4. Debtors

	31.03.2025		31.12.2023
	£		£
Trade debtors	23,400		0
Other debtors	50,048		11,987
	73,448		11,987

5. Creditors: amounts falling due within one year

	31.03.2025		31.12.2023
	£		£
Bank loans	49,350		55,667
Trade creditors	0		115,924
Other taxation and social security	10,344		0
Other creditors	2,275		52,250
	61,969		223,841

Capital loans and other debts due to members rank pari passu with creditors, in accordance with the members' agreement. There are no restrictions on the members' ability to reduce the amount of members' other interests.

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

	31.03.2025		31.12.2023
	£		£
Bank loans (secured)	885,094		856,462

The bank loans are secured on freehold properties of the LLP.