Company No: OC415467 (England and Wales)

Contents

• Statement of Financial Position
• Reconciliation of Members' Interests
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	629		0
		629		0
Current assets
Debtors	4	3,884		22,644
Cash at bank and in hand	5	33,260		42,556
		37,144		65,200
Creditors: amounts falling due within one year	6	( 31,293)		( 58,354)
Net current assets		5,851		6,846
Total assets less current liabilities		6,480		6,846
Creditors: amounts falling due after more than one year	7	( 2,163)		0
Net assets attributable to members		4,317		6,846
Represented by
Loans and other debts due to members within one year
Other amounts		22,531		6,846
		22,531		6,846
Members' other interests
Other reserves		(18,214)		0
		(18,214)		0
		4,317		6,846
Total members' interests
Loans and other debts due to members		22,531		6,846
Members' other interests		(18,214)		0
		4,317		6,846

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 Sophie Franks Designs LLP (registered number: OC415467) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

S F Franks Designated member

10 October 2025

	EQUITY Members' other interests	DEBT Loans and other debts due to members less any amounts due from members in debtors	Total members' interests
	Other reserves	Other amounts	Total
	£	£	£
Amounts due to members		(4,290)
Balance at 01 April 2023	0	(4,290)	(4,290)
Members' remuneration charged as an expense, including employment and retirement benefit costs	0	98,860	98,860
Members' interest after result for the financial year	0	94,570	94,570
Drawings	0	(87,724)	(87,724)
Amounts due to members		6,846
Balance at 31 March 2024	0	6,846	6,846
Loss for the financial year available for discretionary division among members	(18,214)	0	(18,214)
Members' interest after loss for the financial year	(18,214)	6,846	(11,368)
Drawings	0	15,685	15,685
Amounts due to members		22,531
Balance at 31 March 2025	(18,214)	22,531	4,317

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests

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

Sophie Franks Designs 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 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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:

Plant and machinery etc.

5 years straight line

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.

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 credited or charged to profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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 the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

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

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the LLP during the year	2		2

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 April 2024	0		0
Additions	755		755
At 31 March 2025	755		755
Accumulated depreciation
At 01 April 2024	0		0
Charge for the financial year	126		126
At 31 March 2025	126		126
Net book value
At 31 March 2025	629		629
At 31 March 2024	0		0

4. Debtors

	2025		2024
	£		£
Trade debtors	3,020		21,867
Other debtors	864		777
	3,884		22,644

5. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	33,260		42,556

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	3,635		9,344
Trade creditors	0		23,058
Other taxation and social security	7,033		10,872
Other creditors	20,625		15,080
	31,293		58,354

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

	2025		2024
	£		£
Bank loans	2,163		0

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