NP Linnells LLP Filleted accounts for Companies House (small and micro)

REGISTERED NUMBER: OC350899

NP Linnells LLP

Filleted Unaudited Financial Statements

31 March 2025

NP Linnells LLP

Chartered Accountant's Report to the Members on the Preparation of the Unaudited Statutory Financial Statements of NP Linnells LLP

Year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to limited liability partnerships by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of NP Linnells LLP for the year ended 31 March 2025, which comprise the statement of financial position and the related notes from the LLP's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the members of NP Linnells LLP, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of NP Linnells LLP and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than NP Linnells LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that NP Linnells LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of NP Linnells LLP. You consider that NP Linnells LLP is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of NP Linnells LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

WALTER HUNTER & CO LIMITED Chartered accountants

24 Bridge Street Newport South Wales NP20 4SF

22 September 2025

NP Linnells LLP

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5	16,895	5,487
Investments	6	1	1
		--------	-------
		16,896	5,488

Current assets

Debtors	7	45,060	78,196
Cash at bank and in hand		125,652	48,155
		---------	---------
		170,712	126,351

Creditors: amounts falling due within one year	8	47,218		35,640
		---------		---------
Net current assets			123,494	90,711
			---------	--------
Total assets less current liabilities			140,390	96,199

Creditors: amounts falling due after more than one year	9	26,854	46,571
		---------	--------
Net assets		113,536	49,628
		---------	--------

Represented by:

Loans and other debts due to members

Other amounts	10	113,536	49,628
		---------	--------

Members' other interests

Other reserves	–	–
	---------	--------
	113,536	49,628
	---------	--------

Total members' interests

Amounts due from members		–	(28,903)
Loans and other debts due to members	10	113,536	49,628
Members' other interests		–	–
		---------	--------
		113,536	20,725
		---------	--------

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.

NP Linnells 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 22 September 2025 , and are signed on their behalf by:

Mr T W Parker	Mr M Steven
Designated Member	Designated Member

Mr M Tyler
Designated Member

Registered number: OC350899

NP Linnells 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 Gold Tops House, 8A Pentonville, Newport, NP20 5HB.

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

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

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'.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4.	Employee numbers

The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 1 (2024: 2 ).

5.	Tangible assets

	Motor vehicles	Equipment	Total
	£	£	£
Cost
At 1 April 2024	50,495	1,708	52,203
Additions	13,500	2,082	15,582
Disposals	( 42,495)	–	( 42,495)
	--------	-------	--------
At 31 March 2025	21,500	3,790	25,290
	--------	-------	--------
Depreciation
At 1 April 2024	45,495	1,221	46,716
Charge for the year	3,688	487	4,175
Disposals	( 42,496)	–	( 42,496)
	--------	-------	--------
At 31 March 2025	6,687	1,708	8,395
	--------	-------	--------
Carrying amount
At 31 March 2025	14,813	2,082	16,895
	--------	-------	--------
At 31 March 2024	5,000	487	5,487
	--------	-------	--------

6.	Investments

	Shares in group undertakings
	£
Cost
At 1 April 2024 and 31 March 2025	8,150
	-------
Impairment
At 1 April 2024 and 31 March 2025	8,149
	-------

Carrying amount
At 31 March 2025	1
	-------
At 31 March 2024	1
	-------

7.	Debtors

	2025	2024
	£	£
Trade debtors	26,245	30,218
Other debtors	18,815	47,978
	--------	--------
	45,060	78,196
	--------	--------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	10,871	6,882
Social security and other taxes	27,988	26,418
Pension creditor	109	268
Other creditors	8,250	2,072
	--------	--------
	47,218	35,640
	--------	--------

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

	2025	2024
	£	£
Bank loans and overdrafts	26,854	46,571
	--------	--------

10.	Loans and other debts due to members

	2025	2024
	£	£
Amounts owed to members in respect of profits	113,536	49,628
	---------	--------

11.	Related party transactions

In the opinion of the members the controlling parties, as defined by FRS102, are Mr S Parker, Mr T Parker, Mr M Steven and Mr M Tyler . During the year the partnership operated from premises owned by one of the partners. Total rent paid, at arm's-length, was £18,500 (2024: £18,500).