REGISTERED NUMBER: OC325172 (England and Wales)

Financial Statements for the Year Ended 31st March 2025

for

Parkinson Wright LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

C E Arridge

D Godwin

P S Lewis

Mrs J R Newton

R L Preece

J F Redfern

Mrs F Woods

Mrs F Green

REGISTERED OFFICE:

Haswell House

St Nicholas Street

Worcester

Worcestershire

WR1 1UN

REGISTERED NUMBER:

OC325172 (England and Wales)

FIXED ASSETS

Tangible assets

4

70,795

134,757

CURRENT ASSETS

Stocks

392,211

425,870

Debtors

5

1,116,938

1,228,195

Cash at bank

606,398

282,157

2,115,547

1,936,222

CREDITORS

Amounts falling due within one year

6

1,435,022

1,375,871

NET CURRENT ASSETS

680,525

560,351

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

751,320

695,108

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

681,320

615,108

MEMBERS' OTHER INTERESTS

Capital accounts

70,000

80,000

751,320

695,108

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

681,320

615,108

Members' other interests

70,000

80,000

751,320

695,108

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 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 20th June 2025 and were signed by:

C E Arridge - Designated member

1.	STATUTORY INFORMATION

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

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over it's estimated useful life

Computers

- 25% on a straight line basis

Leasehold Property

- 5% on a straight line basis

Office Equipment

- 20% on a straight line basis

Office Furniture

- 10% on a straight line basis

WORK IN PROGRESS

Work in progress is valued at the lower of cost and net realisable 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.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 13 (2024 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Computer

property

equipment

Totals

£

£

£

COST

At 1st April 2024

169,159

448,356

617,515

Additions

-

17,465

17,465

At 31st March 2025

169,159

465,821

634,980

DEPRECIATION

At 1st April 2024

156,863

325,895

482,758

Charge for year

4,245

77,182

81,427

At 31st March 2025

161,108

403,077

564,185

NET BOOK VALUE

At 31st March 2025

8,051

62,744

70,795

At 31st March 2024

12,296

122,461

134,757

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

709,972

739,598

Other debtors

250

137,195

Prepayments

406,716

351,402

1,116,938

1,228,195

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

53,030

344,479

Trade creditors

151,739

252,252

Amounts owed to participating interests

375,343

331,190

Social security and other taxes

562,232

244,947

Accrued expenses

292,678

203,003

1,435,022

1,375,871

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members' (other than members' capital classified as debt) ranks equally with other creditors.

8.	RELATED PARTY DISCLOSURES

The designated members are also directors and shareholders of Parkinson Wright Limited. Parkinson Wright Limited provides legal staff to Parkinson Wright LLP for which it charges a management charge in addition to the costs of the legal staff provided.

During the year the total charged by Parkinson Wright Limited was £3,230,349 (2024: £3,024,040). At the year end the amount owing to the company by Parkinson Wright LLP was £375,343 (2024: £331,190).

9.	ULTIMATE CONTROLLING PARTY

THe LLP is controlled by the designated members,