REGISTERED NUMBER: OC401782 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

DSBP SOUTH EAST LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Designated members:

A M Bodkin

P D H Simmons

Registered office:

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Registered number:

OC401782 (England and Wales)

Fixed assets

Investments

4

-

27,775

Current assets

Debtors

5

107,365

11,055,463

Cash at bank

869,922

5,389,266

977,287

16,444,729

Creditors

Amounts falling due within one year

6

542,430

4,476,120

Net current assets

434,857

11,968,609

Total assets less current liabilities

and

Net assets attributable to members

434,857

11,996,384

Loans and other debts due to members

7

434,857

11,996,384

Total members' interests

Loans and other debts due to members

7

434,857

11,996,384

Amounts due from members

5

(71,491

)

(56,178

)

363,366

11,940,206

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.

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 3 October 2025 and were signed by:

P D H Simmons - Designated member

1.	Statutory information

DSBP South East 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.

Key sources of estimation, uncertainty and judgements

Preparation of the financial statements requires management to make significant judgements and estimates in determining the carrying amounts of certain assets and liabilities. Management makes assumptions of the effects of uncertain events on those assets and liabilities at the balance sheet date. The management's estimates and assumptions are based on historical experience and expectation of future events and are reviewed periodically. This disclosure excludes uncertainty over future events and judgement in respect of measuring financial instruments

Turnover

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

Goodwill

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

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 each asset over its estimated useful life.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with FRS 25 (IAS 32) Financial Instruments Disclosure and Presentation and UITF abstract 39 Members' shares in co-operative entities and similar instruments. A members' participation right results in a liability unless the right to any payments is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Profits are automatically divided as they rise, so the LLP does not have an unconditional right to refuse payment, therefore the amounts arising that are due to members are in the nature of liabilities. they are therefore treated as an expense in teh Profit and Loss Account in the relevant year. To the extent that they remain unpaid at the period end, they are shown as liabilities in the Balance Sheet.

All amounts due to members that are classified as liabilities are presented in the Balance Sheet within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Balance Sheet within 'Members' other interests'.

3.	Employee information

The average number of employees during the year was NIL (2024 - 43 ).

4.	Fixed asset investments

Other

investments

£

Cost

At 1 April 2024

27,775

Impairments

(27,775

)

At 31 March 2025

-

Net book value

At 31 March 2025

-

At 31 March 2024

27,775

5.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

-

16,908

Other debtors

107,365

11,038,555

107,365

11,055,463

6.

Creditors: amounts falling due within one year

2025

2024

£

£

Trade creditors

11,703

6,436

Other creditors

530,727

4,469,684

542,430

4,476,120

7.

Loans and other debts due to members

2025

2024

£

£

Amounts owed to members in respect of profits

434,857

11,996,384

Falling due within one year

434,857

11,996,384

The loans and debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up. There are no restrictions on the ability of the members to reduce the amount of members' interests.