ACCOUNTS - Final Accounts preparation

Loans and other debts due to members

Company registration number: OC317501

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	SERGISON BATES ARCHITECTS LLP


SERGISON BATES ARCHITECTS LLP

INFORMATION

Designated Members	J Sergison
	S Bates
	M Tuff

LLP registered number

OC317501

Registered office

34 Clerkenwell Close

London

EC1R 0AU

Accountants

Menzies LLP

Chartered Accountants

Lynton House

7-12 Tavistock Square

London

WC1H 9LT


SERGISON BATES ARCHITECTS LLP REGISTERED NUMBER:OC317501

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Intangible assets	4		14,848		16,268
Tangible assets	5		148,554		139,954
Investments	6		44,533		44,533
			207,935		200,755
Current assets
Debtors: amounts falling due after more than one year	7	15,105		-
Debtors: amounts falling due within one year	7	264,834		395,412
Cash at bank and in hand		342,482		109,405
		622,421		504,817
Creditors: Amounts Falling Due Within One Year	8	(324,878)		(206,859)
Net current assets			297,543		297,958
Total assets less current liabilities			505,478		498,713
Creditors: amounts falling due after more than one year	9		(25,000)		(75,000)
			480,478		423,713
Provisions for liabilities
Other provisions	10	(50,000)		(50,000)
			(50,000)		(50,000)
Net assets			430,478		373,713

Represented by:
Loans and other debts due to members within one year
Other amounts	11		373,713		373,713
			373,713		373,713
Members' other interests
Other reserves classified as equity		56,765		-
			56,765		-
			430,478		373,713

Total members' interests
Loans and other debts due to members	11	373,713	373,713
Members' other interests		56,765	-
		430,478	373,713

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SERGISON BATES ARCHITECTS LLP REGISTERED NUMBER:OC317501

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity 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.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 10 September 2025.

M Tuff

Designated member

The notes on pages 4 to 9 form part of these financial statements.

Sergison Bates Architects LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.

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SERGISON BATES ARCHITECTS LLP

RECONCILIATION OF MEMBERS' INTERESTS

FOR THE YEAR ENDED 31 DECEMBER 2024


	Equity Members' other interests		Debt Loans and other debts due to members less any amounts due from members in debtors		Total members' interests
	Other reserves	Total	Other amounts	Total	Total
	£	£	£	£	£
Amounts due to members			628,459	628,459
Balance at 1 January 2023	52,431	52,431	628,460	628,460	680,891
Members' remuneration charged as an expense	-	-	158,860	158,860	158,860
Members' interests after profit for the year	52,431	52,431	787,320	787,320	839,751
Other division of profits	(52,431)	(52,431)	-	-	(52,431)
Drawings on account and distribution of profit	-	-	(413,607)	(413,607)	(413,607)
Amounts due to members			373,713	373,713
Balance at 31 December 2023	-	-	373,713	373,713	373,713
Members' remuneration charged as an expense	-	-	324,274	324,274	324,274
Profit for the year available for discretionary division among members	56,765	56,765	-	-	56,765
Members' interests after profit for the year	56,765	56,765	697,987	697,987	754,752
Drawings on account and distribution of profit	-	-	(324,274)	(324,274)	(324,274)
Amounts due to members			373,713	373,713
Balance at 31 December 2024	56,765	56,765	373,713	373,713	430,478

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

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SERGISON BATES ARCHITECTS LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Sergison Bates Architects LLP is a limited liability partnership incorporated in England & Wales under the registered number OC317501. The address of the registered ofice is disclosed on the LLP information page. The principal place of business is 34 Clerkenwell Close, London, EC1R 0AU.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

In response to the pandemic and uncertainty, the members have taken measures in order to safeguard cashflow and customers that they believe should enable them to continue in operational existence. Therefore, it is the member’s opinion that the going concern basis of preparation continues to be appropriate.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and
the revenue can be reliably measured. Revenue is generated by architectual services and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.4

Operating leases: the LLP as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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SERGISON BATES ARCHITECTS LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.7

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .

2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Amortisation is provided on the following bases:

Computer software

15%

reducing balance

2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Long-term leasehold property	-		over lease term
Fixtures and fittings	-	15%	reducing balance
Office equipment	-	15%	reducing balance
Computer equipment	-	15%	reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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SERGISON BATES ARCHITECTS LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Employees

The average monthly number of employees, including directors, during the year was 25 (2023 - 25).

4.	Intangible assets

		Computer software
		£
	Cost
	At 1 January 2024	53,995
	Additions	1,200
	At 31 December 2024	55,195
	Amortisation
	At 1 January 2024	37,727
	Charge for the year on owned assets	2,620
	At 31 December 2024	40,347
	Net book value
	At 31 December 2024	14,848
	At 31 December 2023	16,268

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SERGISON BATES ARCHITECTS LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

5.	Tangible fixed assets

	Long-term leasehold property	Fixtures and fittings	Office equipment	Total
	£	£	£	£
Cost or valuation
At 1 January 2024	99,873	95,780	197,588	393,241
Additions	-	15,846	16,501	32,347
At 31 December 2024	99,873	111,626	214,089	425,588
Depreciation
At 1 January 2024	91,925	47,148	114,214	253,287
Charge for the year on owned assets	1,954	8,261	13,532	23,747
At 31 December 2024	93,879	55,409	127,746	277,034
Net book value
At 31 December 2024	5,994	56,217	86,343	148,554
At 31 December 2023	7,948	48,632	83,374	139,954

6.	Fixed asset investments

		Loans to group undertakings and participating interests
		£
	Cost or valuation
	At 1 January 2024	44,533
	At 31 December 2024	44,533

	Net book value
	At 31 December 2024	44,533
	At 31 December 2023	44,533

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SERGISON BATES ARCHITECTS LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

7.	Debtors
		2024	2023
		£	£

Due after more than one year
Other debtors	15,105	-
	15,105	-

					2024	2023
					£	£

Due within one year
Trade debtors	194,904	289,273
Amounts owed by joint ventures	6,448	-
Other debtors	28,031	69,072
Prepayments and accrued income	35,451	37,067
	264,834	395,412

8.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Bank loans	50,000	50,000
Trade creditors	34,648	67,732
Other taxation and social security	86,611	47,348
Other creditors	11,213	12,346
Accruals and deferred income	142,406	29,433
	324,878	206,859

9.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

Bank loans	25,000	75,000
	25,000	75,000

The bank loans are secured by a fixed and floating charge over the assets of the company.

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SERGISON BATES ARCHITECTS LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

10.	Provisions

		Provision for dilapidations
		£

	At 1 January 2024	50,000
	At 31 December 2024	50,000


Amounts due to members	(373,713)	(373,713)
	(373,713)	(373,713)

Loans and other debts due to members may be further analysed as follows:

					2024
					£


	Falling due within one year	(373,713)
		(373,713)

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

Not later than 1 year	100,000	100,000
Later than 1 year and not later than 5 years	223,611	323,611
	323,611	423,611

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