REGISTERED NUMBER: OC428643 (England and Wales)

PERCY WALKER & CO LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

Page

General Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DESIGNATED MEMBERS:

Mrs A S Francis

Mrs M S Sear

S T Francis

REGISTERED OFFICE:

Robertson Chambers

The Memorial

Hastings

East Sussex

TN34 1JB

REGISTERED NUMBER:

OC428643 (England and Wales)

ACCOUNTANTS:

Gibbons Mannington & Phipps LLP

Chartered Accountants

20 Eversley Road

Bexhill-on-Sea

East Sussex

TN40 1HE

FIXED ASSETS

Tangible assets

4

5,777

12,421

CURRENT ASSETS

Debtors

5

227,618

243,343

Cash at bank and in hand

11,766

17,763

239,384

261,106

CREDITORS

Amounts falling due within one year

6

71,400

72,825

NET CURRENT ASSETS

167,984

188,281

TOTAL ASSETS LESS CURRENT LIABILITIES

173,761

200,702

CREDITORS

Amounts falling due after more than one year

7

49,762

70,104

NET ASSETS ATTRIBUTABLE TO MEMBERS

123,999

130,598

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

123,999

130,598

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

123,999

130,598

Amounts due from members

5

(54,346

)

(41,229

)

69,653

89,369

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 31st December 2024.

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 24th September 2025 and were signed by:

S T Francis - Designated member

1.	STATUTORY INFORMATION

Percy Walker & Co 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 represents net invoiced sales of services, excluding value added tax, except in respect of service contracts where turnover is recognised when the LLP obtains right to consideration.

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

-

15% on reducing balance

Computer equipment

-

20% on cost

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.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 11 (2023 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st January 2024

2,854

33,752

36,606

Additions

488

-

488

At 31st December 2024

3,342

33,752

37,094

DEPRECIATION

At 1st January 2024

968

23,217

24,185

Charge for year

357

6,775

7,132

At 31st December 2024

1,325

29,992

31,317

NET BOOK VALUE

At 31st December 2024

2,017

3,760

5,777

At 31st December 2023

1,886

10,535

12,421

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

88,004

114,032

Amounts due from members

54,346

41,229

Amounts recoverable on contract

73,589

79,800

Other debtors

735

-

Prepayments

10,944

8,282

227,618

243,343

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 8)

20,309

19,422

Trade creditors

2,152

3,657

Social security and other taxes

9,631

9,873

VAT

28,726

29,134

Accrued expenses

10,582

10,739

71,400

72,825

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans (see note 8)

49,762

70,104

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

8,483

8.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank loans - less than 1 yr

20,309

19,422

Amounts falling due between one and two years:

Bank loans - 1-2 years

15,447

21,213

Amounts falling due between two and five years:

Bank loans - 2-5 years

34,315

40,408

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

8,483

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loan

55,906

65,358

A first legal charge dated 1 May 2019 from Mrs A.S. Francis over the freehold land and buildings at 1 Harold Place and 1a Robertson Street, Hastings, East Sussex.

An unlimited debenture from Percy Walker & Co LLP.

An all monies joint and several guarantee from Mrs A.S. Francis, S.T. Francis and Mrs M.S. Sear for a principal amount of £68,000 plus interest and other costs as detailed in the guarantee together with such other security as the Bank may from time to time hold in respect of the debts and liabilities of the grantors to the bank.

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2024

2023

£

£

Amounts owed to members in respect of profits

123,999

130,598

Falling due within one year

123,999

130,598

Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.