Company No: OC333422 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	134,303		102,814
		134,303		102,814
Current assets
Debtors	4	445,229		392,702
Cash at bank and in hand		1,318,875		1,011,469
		1,764,104		1,404,171
Creditors: amounts falling due within one year	5	( 490,510)		( 416,609)
Net current assets		1,273,594		987,562
Total assets less current liabilities		1,407,897		1,090,376
Creditors: amounts falling due after more than one year	6	( 6,165)		( 53,236)
Net assets attributable to members		1,401,732		1,037,140
Represented by
Loans and other debts due to members within one year
Other amounts		901,732		737,140
		901,732		737,140
Members' other interests
Members' capital classified as equity		500,000		300,000
		500,000		300,000
		1,401,732		1,037,140
Total members' interests
Loans and other debts due to members		901,732		737,140
Members' other interests		500,000		300,000
		1,401,732		1,037,140

For the financial year ending 31 March 2025 the LLP 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.

Members' responsibilities:

• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Scott Bailey LLP (registered number: OC333422) were approved and authorised for issue by the Board of Directors on 22 September 2025. They were signed on its behalf by:

J P Burford Designated member		S J Unsworth Designated member
P P M Salt Designated member

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Scott Bailey LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is 63 High Street, Lymington, Hampshire, SO41 9ZT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover which is stated net of VAT represents the value of services provided and is recognised as contract activity progresses.

Turnover in respect of contingent fee assignments is recognised in the period when the contingent event occurs and the fee is assured.

Turnover which has been recognised but not invoiced by the balance sheet date, is included in debtors in "prepayments and accrued income". Amounts invoiced in advance are included in "accruals and deferred income".

Employee benefits

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

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	depreciated over the life of the lease
Vehicles	25 % reducing balance
Fixtures and fittings	15 - 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Members' participation rights

Profits of the LLP are automatically allocated in full to members. Accordingly, the profit attributable to members is charged as an expense in the profit and loss account. During the year, members receive drawings on account of profits. At the year end, undrawn allocated profits of the LLP are included within loans and other debts due to members. To the extent that any payment of drawings exceeds the amount of profit ultimately to be found to be due to any member, such excess is reclaimable by the LLP and included within debtors.

Capital is repayable to a member on retirement and accordingly, is classified as a liability in the balance sheet.

Provisions

Provision is made for estimated dilapidations including reinstatement costs (where there is an obligation to restore premises to their original condition upon vacating them under the terms of the lease). The costs related to repair and maintenance of equipment and properties that are used by the LLP and for which the LLP has responsibility to maintain or may be liable for dilapidation, are written off as they arise.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the LLP during the year	40		36

3. Tangible assets

	Land and buildings		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 April 2024	24,932		48,690		373,116		446,738
Additions	0		0		64,383		64,383
At 31 March 2025	24,932		48,690		437,499		511,121
Accumulated depreciation
At 01 April 2024	24,932		17,879		301,113		343,924
Charge for the financial year	0		7,703		25,191		32,894
At 31 March 2025	24,932		25,582		326,304		376,818
Net book value
At 31 March 2025	0		23,108		111,195		134,303
At 31 March 2024	0		30,811		72,003		102,814

4. Debtors

	2025		2024
	£		£
Trade debtors	208,322		187,845
Prepayments	213,414		192,097
Other debtors	23,493		12,760
	445,229		392,702

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	10,442		9,931
Trade creditors	495		0
Accruals	26,460		28,097
Other taxation and social security	172,996		124,612
Obligations under finance leases and hire purchase contracts	3,930		3,930
Other creditors	276,187		250,039
	490,510		416,609

6. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	2,562		13,257
Obligations under finance leases and hire purchase contracts	3,603		7,533
Other creditors	0		32,446
	6,165		53,236

There are no amounts included above in respect of which any security has been given by the small entity.

7. Financial commitments

Commitments

Capital commitments are as follows:

	2025		2024
	£		£
Contracted for but not provided for:
Other	358,000		406,000

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating lease	358,000		406,000

8. Off Balance Sheet arrangements

The Company has entered into arrangements for holding funds on behalf of clients. These funds of £12,177,494 are not recorded on the Company’s balance sheet, as they do not represent the Company’s own assets. Instead, they are held in segregated accounts specifically designated for client transactions.

Funds held for clients are governed by strict regulatory and contractual obligations, ensuring that the Company manages these funds responsibly and securely. The Company acts in a custodial or fiduciary capacity, and these funds are not available for the Company’s operational use or obligations.