Appleyard & Trew LLP

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Appleyard & Trew LLP is a limited liability partnership, incorporated in England & Wales, registered number OC304430 . The Registered Office is Suite 1.2 First Floor, Jackson House, Sibson Road, Sale, Cheshire, M33 7RR.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP. Monetary amounts in these financial statements are rounded to the nearest £.

2.2. Going Concern Disclosure

The partners have prepared forecasts up to 12 months from the date of approving these financial statements.

Therefore, whilst acknowledging that revenues have been impacted in recent years, revenues continue to move in the right direction, so the partners believe that with the aid of a strong financial position, the entity is in a good position to continue trading for the foreseeable future. Thus, the partners continue to adopt the going concern basis of accounting in preparing these financial statements.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.

Rendering of services

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 work performed. Revenue in respect of conditional or contigent fee engagements, over and above any agreed minimum fee, is recognised when the contigent event occurs.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	Over the period of the lease
Motor Vehicles	20% straight-line
Fixtures & Fittings	10% and 33% straight-line

2.5. Leasing and Hire Purchase Contracts

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals applicable to operating leases where substantially all the benefits and risks of the ownership remain with the lessor are charged against profits on a straight-line basis over the period of the lease.

Page 3

Page 4

Appleyard & Trew LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Financial Instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets:

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.

Impairment of financial assets:

Financial assets, other than those held at fair value through profit or loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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 profit or loss.

Derecognition of financial assets:

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the limited liability partnership transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities:

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 limited liability partnership after deducting all of its liabilities.

Basic financial liabilities:

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Derecognition of financial liabilities:

Financial liabilities are derecognised when, and only when, the company’s contractual obligations are discharged, cancelled, or they expire.

2.7. Pensions

The costs of short-term benefits are recognised as a liability and an expense.

Termination benefits are recognised immediately as an expense when the limited liability partnership is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

The limited liability partnership operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable. The assets of the scheme are held separately form those of the LLP in an independently administered fund.

Remuneration

Salaried remuneration of members and related employment costs are treated as a charge against profits, as these costs represents an obligation of the LLP under a debt of the LLP not arising from a division of profits.

Retirement benefits and post retirement payments to members:

The expected liabilities of the limited liability partnership for future payments in respect of retirement benefits and amounts due to former members are recognised in the accounts at the date of the members' retirement, where the member concerned ceases to be a member.

In the year in which a member retires or leaves, a transfer is made from the members' interest to liabilities of the limited liability partnership in respect of the former member. On leaving the LLP these interests are normally payable to the former member over a 4 year period in equal monthly instalments.

Page 4

Page 5

Appleyard & Trew LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.8. Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A

member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: 31 (2024: 25)

4. Tangible Assets

	Land & Property
	Leasehold	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 April 2024	357,827	242,617	175,310	775,754
Additions	-	122,255	17,518	139,773
Disposals	(349,655 )	(139,320 )	(155,242 )	(644,217 )

As at 31 March 2025	8,172	225,552	37,586	271,310

Depreciation
As at 1 April 2024	353,477	127,675	165,194	646,346
Provided during the period	861	48,256	8,432	57,549
Disposals	(349,655 )	(106,778 )	(155,242 )	(611,675 )

As at 31 March 2025	4,683	69,153	18,384	92,220

Net Book Value
As at 31 March 2025	3,489	156,399	19,202	179,090

As at 1 April 2024	4,350	114,942	10,116	129,408

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2025	2024
	£	£
Motor Vehicles	156,399	114,942

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	734,754	724,215
Other debtors	164,940	157,025

	899,694	881,240

Page 5

Page 6

Appleyard & Trew LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	20,366	26,667
Trade creditors	149,011	108,150
Other creditors	196,173	224,517
Taxation and social security	255,534	198,003

	621,084	557,337

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	33,184	3,611
Other creditors	15,078	54,035

	48,262	57,646

8. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	20,366	26,667
Later than one year and not later than five years	33,184	3,611

	53,550	30,278

	53,550	30,278

9. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	165,222	108,696
Later than one year and not later than five years	142,920	85,750

	308,142	194,446

10. Pension Commitments

The charge to profit or loss in respect of defined contribution schemes was £72,610 (2024: £36,085).

Page 6

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		179,090		129,408

			179,090		129,408
CURRENT ASSETS
Debtors	5	899,694		881,240
Cash at bank and in hand		320,511		471,483

		1,220,205		1,352,723
Creditors: Amounts Falling Due Within One Year	6	(621,084 )		(557,337 )

NET CURRENT ASSETS (LIABILITIES)			599,121		795,386

TOTAL ASSETS LESS CURRENT LIABILITIES			778,211		924,794

Creditors: Amounts Falling Due After More Than One Year	7		(48,262 )		(57,646 )

NET ASSETS ATTRIBUTABLE TO MEMBERS			729,949		867,148

REPRESENTED BY:
Loans and other debts due to members
Other amounts		729,949		867,148

			729,949		867,148

			729,949		867,148

TOTAL MEMBERS' INTEREST
Loans and other debts due to members			729,949		867,148

			729,949		867,148