Limited Liability Partnership Registration No. OC362437 (England and Wales)
Jaggard Macland LLP
Annual report and unaudited financial statements
for the year ended 31 March 2025
Pages for filing with the registrar
Jaggard Macland LLP
Limited liability partnership information
Designated members
Graham Atkinson
Simon Harper
Gregory Rowland
Steven MacDermott
LLP registration number
OC362437
Registered office
McBride House
32 Penn Road
Beaconsfield
Buckinghamshire
HP9 2FY
Accountants
Saffery LLP
St John's Court
Easton Street
High Wycombe
HP11 1JX
Jaggard Macland LLP
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 8
Jaggard Macland LLP
Statement of financial position
As at 31 March 2025
1
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
6
6
Tangible assets
4
34,286
24,916
34,292
24,922
Current assets
Work in progress
26,087
3,400
Debtors
5
223,986
274,818
Cash at bank and in hand
371,439
310,527
621,512
588,745
Creditors: amounts falling due within one year
6
(212,702)
(161,756)
Net current assets
408,810
426,989
Total assets less current liabilities and net assets attributable to members
443,102
451,911
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
294,602
303,411
Members' other interests
Members' capital classified as equity
120,000
120,000
Other reserves classified as equity
28,500
28,500
443,102
451,911
Total members' interests
Loans and other debts due to members
294,602
303,411
Members' other interests
148,500
148,500
443,102
451,911

T he members of the limited liability partnership have elected not to include a copy of the income statement within the financial statements.

Jaggard Macland LLP
Statement of financial position (continued)
As at 31 March 2025
2

For the financial year ended 31 March 2025 the limited liability partnership 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) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The financial statements were approved by the members and authorised for issue on 2 October 2025 and are signed on their behalf by:
02 October 2025
Graham Atkinson
Simon Harper
Designated member
Designated Member
Gregory Rowland
Steven MacDermott
Designated Member
Designated Member
Limited Liability Partnership Registration No. OC362437
Jaggard Macland LLP
Notes to the financial statements
For the year ended 31 March 2025
3
1
Accounting policies
Limited liability partnership information

Jaggard Macland LLP is a limited liability partnership incorporated in England and Wales. The registered office is McBride House, 32 Penn Road, Beaconsfield, Buckinghamshire, HP9 2FY.

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents invoiced and accrued fees for services provided, net of expenses and VAT, as adjusted for movements in the value of amounts recoverable on contracts at the balance sheet date.

Turnover is recognised in respect of work that was in progress at the end of the year as amounts recoverable on contracts. The value of turnover recognised is the selling value of the work completed at the balance sheet date, less allowance for non-recovery, if appropriate. Amounts recoverable on contracts is reported as accrued income.

1.3
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the m embers' 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 section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

Jaggard Macland LLP
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies (continued)
4

All amounts due to members that are classified as liabilities are presented within ‘Loans and other debts due to members’ and, where such an amount related to current year profits, they are recognised within ‘Members’ remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members’ other interest’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

Where there exists an asset and liability component in respect of an individual member’s participation rights they are presented on a gross basis unless the LLP has both a legally enforceable right to set off the recognised amounts, and it intends either to settle on a net basis or to settle and realise these amounts simultaneously, in which case they are presented net.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
Over life of lease
Office equipment
20% of net book value
Computer equipment
33.33% of cost
Motor vehicles
30% of net book value

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 income statement.

1.5
Impairment of fixed assets

At each reporting period end date, the limited liability partnership reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the limited liability partnership estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments. The limited liability partnership does not hold non basic financial instruments,

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors, 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.

Jaggard Macland LLP
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies (continued)
5
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the limited liability partnership transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 limited liability partnership after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the limited liability partnership’s obligations expire or are discharged or cancelled.

Jaggard Macland LLP
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies (continued)
6
1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the limited liability partnership is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Retirement benefits and post retirement payments to members

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Taxation
No provision is made in the accounts for partners' income tax liabilities. Tax paid is charged to the partners' current accounts in the year in which it is paid.
2
Employees

The average number of persons (excluding members) employed by the partnership during the year was:

2025
2024
Number
Number
Total
16
17
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2024 and 31 March 2025
6
Amortisation and impairment
At 1 April 2024 and 31 March 2025
-
Carrying amount
At 31 March 2024 and 31 March 2025
6
Jaggard Macland LLP
Notes to the financial statements (continued)
For the year ended 31 March 2025
7
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2024
36,701
168,653
205,354
Additions
-
28,070
28,070
Disposals
-
(51,113)
(51,113)
At 31 March 2025
36,701
145,610
182,311
Depreciation and impairment
At 1 April 2024
33,250
147,188
180,438
Depreciation charged in the year
3,451
12,468
15,919
Eliminated in respect of disposals
-
(48,332)
(48,332)
At 31 March 2025
36,701
111,324
148,025
Carrying amount
At 31 March 2025
-
34,286
34,286
At 31 March 2024
3,451
21,465
24,916
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
161,568
215,346
Other debtors
62,418
59,472
223,986
274,818
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
19,120
16,022
Taxation and social security
61,960
51,512
Other creditors
131,622
94,222
212,702
161,756
Jaggard Macland LLP
Notes to the financial statements (continued)
For the year ended 31 March 2025
8
7
Deferred income
2025
2024
£
£
Other deferred income
-
24,608
8
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
65,723
58,124

The limited liability partnership operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the limited liability partnership in an independently administered fund.

9
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.

10
Operating lease commitments

At 31 March 2025, the company had future minimum lease payments due under non-cancellable operating leases of £22,513 (2024 - 90,432).

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