REGISTERED NUMBER: OC304138 (England and Wales)

MALLABAND FACTORS LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

General Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Designated members:

Mr J R Mallaband

Mrs H Mallaband

Registered office:

Unit 2

Lansil Industrial Estate

Caton Road

LANCASTER

LA1 3PD

Registered number:

OC304138 (England and Wales)

Accountants:

Xeinadin

Dalton House

9 Dalton Square

LANCASTER

LA1 1WD

Bankers:

HSBC Bank Plc

35 Market Street

LANCASTER

LA1 1JQ

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

87,325

97,385

87,325

97,385

Current assets

Stocks

231,271

229,397

Debtors

288,288

276,413

Prepayments and accrued income

5,503

7,385

Cash at bank and in hand

55,466

130,926

580,528

644,121

Creditors

Amounts falling due within one year

305,259

342,755

Net current assets

275,269

301,366

Total assets less current liabilities

362,594

398,751

Creditors

Amounts falling due after more than one year

(14,731

)

(31,474

)

Accruals and deferred income

(18,410

)

(6,677

)

Net assets attributable to members

329,453

360,600

Loans and other debts due to members

7

329,453

360,600

Total members' interests

Loans and other debts due to members

7

329,453

360,600

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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

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 25 September 2025 and were signed by:

Mrs H Mallaband - Designated member

1.	Statutory information

Mallaband Factors 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 is measured at the fair value of the consideration received or receivable and represents amounts receivable, for goods provided in the normal course of business, net of discounts, rebates, value added tax and other sales taxes.

Turnover is recognised at a point in time when a performance obligation is satisfied by transferring a good to the customer.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance, 25% Straight line and 15% Reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 9 (2024 - 9 ) .

4.	Intangible fixed assets

Totals

£

Cost

At 1 April 2024

and 31 March 2025

47,343

Amortisation

At 1 April 2024

and 31 March 2025

47,343

Net book value

At 31 March 2025

-

At 31 March 2024

-

5.	Tangible fixed assets

Totals

£

Cost

At 1 April 2024

239,358

Additions

23,630

Disposals

(21,000

)

At 31 March 2025

241,988

Depreciation

At 1 April 2024

141,973

Charge for year

24,204

Eliminated on disposal

(11,514

)

At 31 March 2025

154,663

Net book value

At 31 March 2025

87,325

At 31 March 2024

97,385

6.	Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

16,655

17,474

Between one and five years

9,385

16,160

26,040

33,634

Non-cancellable

operating leases

2025

2024

£

£

Within one year

35,100

-

Between one and five years

140,400

-

175,500

-

7.

Loans and other debts due to members

Loans and other debts due to members are unsecured and would rank pari passu with other unsecured creditors in the event of a winding up.