Company No: OC340501 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	199,170		64,138
Investments	4	5,000		5,000
		204,170		69,138
Current assets
Debtors	5	2,214,090		2,241,891
Cash at bank and in hand		977,619		399,779
		3,191,709		2,641,670
Creditors: amounts falling due within one year	6	( 665,164)		( 607,192)
Net current assets		2,526,545		2,034,478
Total assets less current liabilities		2,730,715		2,103,616
Creditors: amounts falling due after more than one year	7	( 59,957)		0
Net assets attributable to members		2,670,758		2,103,616
Represented by
Loans and other debts due to members within one year
Other amounts		1,570,758		1,253,616
		1,570,758		1,253,616
Loans and other debts due to members after more than one year
Members' capital classified as a liability		1,100,000		850,000
		1,100,000		850,000
Members' other interests
		0		0
		2,670,758		2,103,616
Total members' interests
Loans and other debts due to members		2,670,758		2,103,616
		2,670,758		2,103,616

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.

Blanchards Bailey 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 Blanchards Bailey LLP (registered number: OC340501) were approved and authorised for issue by the Board of Directors on 02 October 2025. They were signed on its behalf by:

J F Dodge Designated member

P A Dunlop 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

Blanchards 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 Bunbury House, Stour Park, Blandford Forum, DT11 9LQ, 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 represents amounts chargeable to clients for professional services provided during the year excluding value added tax. Turnover is recognised when a right to consideration has been obtained through performance under each contract. Consideration accrues as contract activity progresses by reference to the value of the work performed. Turnover is not recognised where the right to receive payment is contingent upon post balance sheet events outside the control of the partnership. Unbilled turnover is included in debtors as "Accounts recoverable on 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.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the LLP and the amount of revenue can be measured reliably).

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	6 years straight line
Vehicles	4 years straight line
Fixtures and fittings	15 % 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
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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.

Members' remuneration and division of profits

Remuneration is paid to certain members under a contract of employment and is included as an expense in the profit and loss account after arriving at 'profit for the financial year before members' remuneration and profit shares'.

In addition, the LLP agreement provides that fixed amounts, determined for each member each year, be paid to members, irrespective of the profits of the LLP. These amounts are also included within members' remuneration charged to the profit and loss account.

A member's share of the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses are included within 'other reserves'.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the LLP during the year	134		97

3. Tangible assets

	Leasehold improve- ments		Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 April 2024	78,806		0		149,942		65,384		294,132
Additions	42,217		81,672		22,633		23,443		169,965
At 31 March 2025	121,023		81,672		172,575		88,827		464,097
Accumulated depreciation
At 01 April 2024	57,716		0		111,591		60,687		229,994
Charge for the financial year	6,532		12,890		7,016		8,495		34,933
At 31 March 2025	64,248		12,890		118,607		69,182		264,927
Net book value
At 31 March 2025	56,775		68,782		53,968		19,645		199,170
At 31 March 2024	21,090		0		38,351		4,697		64,138

4. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 April 2024	5,000		5,000
At 31 March 2025	5,000		5,000
Carrying value at 31 March 2025	5,000		5,000
Carrying value at 31 March 2024	5,000		5,000

5. Debtors

	2025		2024
	£		£
Trade debtors	389,823		399,475
Other debtors	1,824,267		1,842,416
	2,214,090		2,241,891

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	0		96,668
Trade creditors	72,622		54,722
Other taxation and social security	308,790		271,900
Obligations under finance leases and hire purchase contracts (secured)	8,825		0
Other creditors	274,927		183,902
	665,164		607,192

Within obligations under finance leases and hire purchase contracts is a hire purchase contract which is secured against the underlying asset. The carrying value of this asset is £68,782.

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

	2025		2024
	£		£
Obligations under finance leases and hire purchase contracts (secured)	59,957		0

Within obligations under finance leases and hire purchase contracts is a hire purchase contract which is secured against the underlying asset. The carrying value of this asset is £68,782.