REGISTERED NUMBER: OC307515 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MGR WESTON KAY LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

N J Walfisz

T S Sharman

N Muir

J Springbett

S Yardley

L C Warde

S J Sefton

REGISTERED OFFICE:

55 Loudoun Road

St John's Wood

London

NW8 0DL

REGISTERED NUMBER:

OC307515 (England and Wales)

AUDITORS:

SCCA Ltd T/A Stafford & Co

Chartered Accountants

Statutory Auditor

3 The Studios

320 Chorley Old Road

Bolton

BL1 4JU

FIXED ASSETS

Tangible assets

4

171,301

253,066

CURRENT ASSETS

Debtors

5

5,775,428

5,210,038

Cash at bank and in hand

153,402

688,422

5,928,830

5,898,460

CREDITORS

Amounts falling due within one year

6

(2,016,147

)

(1,995,570

)

NET CURRENT ASSETS

3,912,683

3,902,890

TOTAL ASSETS LESS CURRENT LIABILITIES

4,083,984

4,155,956

CREDITORS

Amounts falling due after more than one year

7

(98,700

)

(20,836

)

NET ASSETS ATTRIBUTABLE TO MEMBERS

3,985,284

4,135,120

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

2,095,819

2,233,154

MEMBERS' OTHER INTERESTS

Capital accounts

1,889,465

1,901,966

3,985,284

4,135,120

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

2,095,819

2,233,154

Members' other interests

1,889,465

1,901,966

3,985,284

4,135,120

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 25 September 2025 and were signed by:

N Muir - Designated member

1.	STATUTORY INFORMATION

MGR Weston Kay 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.

The financial statements are prepared in sterling, which is the functional currency of the LLP. Monetary amounts in these financial statements are rounded to the nearest £.

The principal accounting policies adopted are set out below:

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 its estimated useful life.

Land and buildings

-

25% on reducing balance

Plant and machinery etc

-

33% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classed as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments

Equity instruments issued are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3.	EMPLOYEE INFORMATION

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

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

1,021,224

776,306

1,797,530

Additions

-

93,867

93,867

Disposals

-

(33,517

)

(33,517

)

At 31 December 2024

1,021,224

836,656

1,857,880

DEPRECIATION

At 1 January 2024

922,147

622,317

1,544,464

Charge for year

99,077

72,885

171,962

Eliminated on disposal

-

(29,847

)

(29,847

)

At 31 December 2024

1,021,224

665,355

1,686,579

NET BOOK VALUE

At 31 December 2024

-

171,301

171,301

At 31 December 2023

99,077

153,989

253,066

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

1,943,862

1,755,696

Amounts owed by group undertakings

1,583,168

949,041

Other debtors

2,248,398

2,505,301

5,775,428

5,210,038

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

238,277

170,912

Trade creditors

180,722

131,846

Amounts owed to group undertakings

556,954

624,592

Taxation and social security

806,269

887,068

Other creditors

233,925

181,152

2,016,147

1,995,570

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

98,700

20,836

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up, the amounts included in 'Loans and other debts due to members' will rank equally with unsecured creditors.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robert Stafford BA (Hons) FCA (Senior Statutory Auditor)

for and on behalf of SCCA Ltd T/A Stafford & Co

10.	ULTIMATE CONTROLLING PARTY

The limited liability partnership is controlled by the members. No single member has control.