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Company No: OC353393 (England and Wales)

# MAITLAND WALKER LLP

### Unaudited Financial Statements
For the financial year ended 30 April 2025
Pages for filing with the registrar

MAITLAND WALKER LLP

## Unaudited Financial Statements

For the financial year ended 30 April 2025

Contents

MAITLAND WALKER LLP

## BALANCE SHEET

As at 30 April 2025
MAITLAND WALKER LLP

## BALANCE SHEET (continued)

As at 30 April 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 46,902 |  | 50,676
|  | 46,902 |  | 50,676
Current assets |  |  |  |
Debtors | 4 | 1,256,075 |  | 1,231,853
Cash at bank and in hand | 5 | 501,152 |  | 47,474
|  | 1,757,227 |  | 1,279,327
Creditors: amounts falling due within one year | 6 | ( 664,181) |  | ( 515,700)
Net current assets |  | 1,093,046 |  | 763,627
Total assets less current liabilities |  | 1,139,948 |  | 814,303
Creditors: amounts falling due after more than one year | 7 | ( 30,224) |  | ( 43,604)
Net assets attributable to members |  | 1,109,724 |  | 770,699
Represented by |  |  |  |
Loans and other debts due to members within one year |  |  |  |
Other amounts |  | 513,474 |  | 170,699
|  | 513,474 |  | 170,699
Loans and other debts due to members after more than one year |  |  |  |
Members' capital classified as a liability |  | 596,250 |  | 600,000
|  | 596,250 |  | 600,000
Members' other interests |  |  |  |
|  | 0 |  | 0
|  | 1,109,724 |  | 770,699
Total members' interests |  |  |  |
Loans and other debts due to members |  | 1,109,724 |  | 770,699
|  | 1,109,724 |  | 770,699

For the financial year ending 30 April 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.

Maitland Walker LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

The financial statements of Maitland Walker LLP (registered number: OC353393) were approved and authorised for issue by the Board of Directors on 25 September 2025. They were signed on its behalf by:

Picketstones Limited Designated member |  | Staplecote Limited Designated member

MAITLAND WALKER LLP

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025
MAITLAND WALKER LLP

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025

##### 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

Maitland Walker 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 22 The Parks, Minehead, TA24 8BT, 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 measured at the fair value of the consideration received or receivable for services rendered to clients during the year, net of value added taxes.
Turnover is recognised by reference to the stage of completion of the engagement and when the amount of turnover can be reliably measured. The stage of completion is measured by comparing the costs incurred for work performed to date to the total estimated costs of the engagement. Unbilled revenue is included in debtors as amounts recoverable on client contracts.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the LLP and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Employee benefits

Defined contribution schemes
The LLP operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

##### 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. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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:

Leasehold improvements | 5 years straight line
Fixtures and fittings | 25 % reducing balance
Computer equipment | 3 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.

##### Leases

The LLP as lessee
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### 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.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

##### Provisions

Provisions are recognised when the LLP has a present obligation (legal or constructive) as a result of a past event, it is probable that the LLP will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

##### Amounts recoverable on client contracts

Amounts recoverable on client contracts, included in debtors, are amounts likely to be charged to clients in respect of work done but not invoiced at the balance sheet date. These are calculated in accordance with the revenue recognition accounting policy as shown above.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the LLP during the year | 33 |  | 37

#### 3. Tangible assets

| Leasehold improve- ments |  | Fixtures and fittings |  | Computer equipment |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 May 2024 | 4,112 |  | 21,573 |  | 65,588 |  | 91,273
Additions | 0 |  | 4,358 |  | 10,729 |  | 15,087
At 30 April 2025 | 4,112 |  | 25,931 |  | 76,317 |  | 106,360
Accumulated depreciation |  |  |  |  |  |  |
At 01 May 2024 | 1,533 |  | 11,880 |  | 27,184 |  | 40,597
Charge for the financial year | 708 |  | 3,513 |  | 14,640 |  | 18,861
At 30 April 2025 | 2,241 |  | 15,393 |  | 41,824 |  | 59,458
Net book value |  |  |  |  |  |  |
At 30 April 2025 | 1,871 |  | 10,538 |  | 34,493 |  | 46,902
At 30 April 2024 | 2,579 |  | 9,693 |  | 38,404 |  | 50,676

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 767,652 |  | 642,978
Other debtors | 488,423 |  | 588,875
| 1,256,075 |  | 1,231,853

#### 5. Cash and cash equivalents

| 2025 |  | 2024
| £ |  | £
Cash at bank and in hand | 501,152 |  | 47,474

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 12,653 |  | 12,756
Trade creditors | 64,089 |  | 25,330
Other taxation and social security | 183,182 |  | 161,901
Other creditors | 404,257 |  | 315,713
| 664,181 |  | 515,700

Bank loans are secured against the assets of the LLP.

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

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 30,224 |  | 43,604

Bank loans are secured against the assets of the LLP.