Simpson Jones LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC359127 (England and Wales)

SIMPSON JONES LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JUNE 2024 TO 31 MARCH 2025

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

DESIGNATED MEMBERS:

Mrs J L H Jones

Mr P A Wareham

Mr P R Chapman

REGISTERED OFFICE:

2 Stuart Street

Derby

DE1 2EQ

REGISTERED NUMBER:

OC359127 (England and Wales)

ACCOUNTANTS:

Johnson Tidsall Limited

Chartered Accountants

81 Burton Road

Derby

Derbyshire

DE1 1TJ

FIXED ASSETS

Tangible assets

4

9,042

11,675

Investments

5

51

9,093

11,726

CURRENT ASSETS

Debtors

6

122,972

129,537

Cash at bank and in hand

131,249

51,901

254,221

181,438

CREDITORS

Amounts falling due within one year

7

105,284

74,695

NET CURRENT ASSETS

148,937

106,743

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO
MEMBERS

158,030

118,469

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

158,030

118,469

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

158,030

118,469

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 period 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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 30 September 2025 and were signed by:

Mrs J L H Jones - Designated member

1.	STATUTORY INFORMATION

Simpson Jones 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.

Members capital and allocation of profits

Amounts subscribed or otherwise contributed by members are classified as debt and presented within 'Loans and other debts due to members'. Profits are allocated among members in accordance with the terms of the LLP agreement. Where a member has a contract of employment with the LLP, any remuneration paid under that contract is recognised as an expense in the profit and loss account.

Changes in accounting policies

Comparative figures within the profit and loss account for the year ended 31 May 2024 have been amended to reflect the reclassification of disbursements totalling £105,677, from turnover to cost of sales. The adjustment had no impact on net profit, net assets or reserves brought forward.

Turnover

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

Turnover includes a work in progress provision in respect of services provided on client matters during the year, which had not been invoiced as at the balance sheet date of 31 March 2025. Such amounts are recognised as unbilled turnover and are included within trade debtors on the balance sheet.

Tangible fixed assets

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

Computer equipment

-

15% on cost

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Trade debtors include an amount for services provided on client matters during the year, where the work has been performed but not yet invoiced as at the balance sheet date.

Creditors

Short term creditors are measured at transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs. They are subsequently measured at amortised cost.

3.	EMPLOYEE INFORMATION

The average number of employees during the period was 22 (2024 - 26 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 June 2024

and 31 March 2025

98,522

DEPRECIATION

At 1 June 2024

86,847

Charge for period

2,633

At 31 March 2025

89,480

NET BOOK VALUE

At 31 March 2025

9,042

At 31 May 2024

11,675

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 June 2024

and 31 March 2025

51

NET BOOK VALUE

At 31 March 2025

51

At 31 May 2024

51

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

111,823

126,793

Prepayments and accrued income

11,149

2,744

122,972

129,537

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

23,626

-

Amounts owed to group undertakings

2,460

-

Social security and other taxes

10,255

9,234

VAT

54,171

39,355

Other creditors

2,071

17,466

Accruals and deferred income

12,701

8,640

105,284

74,695

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of the LLP being wound up, and a surplus sum remains at the conclusion of the winding up, after payment of all monies due to the creditors of the LLP and all monies due to the Members, along with all expenses of the winding up, the liquidator shall pay that surplus to the Members.

9.	OTHER FINANCIAL COMMITMENTS

At the balance sheet date, the company had outstanding financial commitments totalling £158,444, of which £84,599 is due within one year.