BQES LLP - LLP accounts 24.3

REGISTERED NUMBER: OC424441 (England and Wales)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

BQES LLP

Page

General Information

1

Report of the Members

2

Chartered Accountants' Report

3

Income Statement

4

Balance Sheet

5

Notes to the Financial Statements

7

DESIGNATED MEMBERS:

Mrs L S O'Hara

A N O'Hara

REGISTERED OFFICE:

Scarborough Farm

Temple Guiting

Cheltenham

Gloucestershire

GL54 5XU

REGISTERED NUMBER:

OC424441 (England and Wales)

ACCOUNTANTS:

William Hinton Limited

Chartered Accountants

Ross House

The Square

Stow On The Wold

Gloucestershire

GL54 1AF

The members present their report with the financial statements of the LLP for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of equine activities

DESIGNATED MEMBERS

The designated members during the period under review were:

Mrs L S O'Hara

A N O'Hara

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The loss for the year before members' remuneration and profit shares was £195,563 (2024 - £206,740 loss).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

A N O'Hara - Designated member

9 October 2025

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of BQES LLP for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of BQES LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of BQES LLP and state those matters that we have agreed to state to the members of BQES LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BQES LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that BQES LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of BQES LLP. You consider that BQES LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of BQES LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

William Hinton Limited

Chartered Accountants

Ross House

The Square

Stow On The Wold

Gloucestershire

GL54 1AF

Date: .............................................

TURNOVER

56,268

103,942

Cost of sales

149,692

153,993

GROSS LOSS

(93,424

)

(50,051

)

Administrative expenses

102,032

156,005

OPERATING LOSS

4

(195,456

)

(206,056

)

Interest payable and similar expenses

107

684

LOSS FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS

(195,563

)

(206,740

)

FIXED ASSETS

Tangible assets

5

2,195,948

2,232,743

CURRENT ASSETS

Debtors

6

21,596

33,246

Cash at bank

2,905

1,899

24,501

35,145

CREDITORS

Amounts falling due within one year

7

15,869

29,402

NET CURRENT ASSETS

8,632

5,743

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,204,580

2,238,486

CREDITORS

Amounts falling due after more than one
year

8

750,000

NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,454,580

1,488,486

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

1,454,580

1,488,486

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

1,454,580

1,488,486

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 in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 9 October 2025 and were signed by:

A N O'Hara - Designated member

Mrs L S O'Hara - Designated member

1.	STATUTORY INFORMATION

BQES 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.

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.

Plant and machinery etc

-

20% per annum on 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.

3.	EMPLOYEE INFORMATION

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

4.	OPERATING LOSS

The operating loss is stated after charging:

2025

2024

£

Depreciation - owned assets

36,795

55,463

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 April 2024

and 31 March 2025

2,082,630

425,412

2,508,042

DEPRECIATION

At 1 April 2024

-

275,299

Charge for year

-

36,795

At 31 March 2025

-

312,094

NET BOOK VALUE

At 31 March 2025

2,082,630

113,318

2,195,948

At 31 March 2024

2,082,630

150,113

2,232,743

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

13,652

20,435

Other debtors

7,944

12,811

21,596

33,246

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Hire purchase contracts

-

609

Trade creditors

6,329

19,253

Other creditors

9,540

15,869

29,402

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Other creditors

750,000

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

750,000

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

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

There is no provision for specific legally enforceable protection afforded to creditors in such an event.

There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members' other interests