REGISTERED NUMBER: SO305286 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

MACPHEE & PARTNERS LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Christine MacKay

Claire MacAlpin

Keith Diarmid Falconer

Jeremy Peter Benfield

Billie Kirkham

Craig Gordon Murray

REGISTERED OFFICE:

Airds House

An Aird

FORT WILLIAM

Inverness-shire

PH33 6BL

REGISTERED NUMBER:

SO305286 (Scotland)

ACCOUNTANTS:

R A Clement Associates

5 Argyll Square

OBAN

Argyll

PA34 4AZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

17,394

26,044

17,394

26,044

CURRENT ASSETS

Stocks

6

134,000

96,000

Debtors

7

196,974

222,860

Cash at bank and in hand

329,722

382,555

660,696

701,415

CREDITORS

Amounts falling due within one year

8

141,139

129,655

NET CURRENT ASSETS

519,557

571,760

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

536,951

597,804

LOANS AND OTHER DEBTS DUE TO MEMBERS

536,951

597,804

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

536,951

597,804

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2025.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 31 October 2025 and were signed by:

Christine MacKay - Designated member

Claire MacAlpin - Designated member

1.	STATUTORY INFORMATION

MacPhee & Partners LLP is registered in Scotland. The LLP's registered number and registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

10% on cost

Plant and machinery etc

-

25% on reducing balance and 20% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

Goodwill

Goodwill, being paid in connection with the acquisition of the business in 2015 was being amortised evenly over its estimated useful life of ten years. However per the deed of agreement on changes to the partnership, it has been fully impaired to nil.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 34 (2024 - 30 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

42,500

AMORTISATION

At 1 April 2024

and 31 March 2025

42,500

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

66,391

261,181

327,572

DEPRECIATION

At 1 April 2024

52,559

248,969

301,528

Charge for year

6,086

2,564

8,650

At 31 March 2025

58,645

251,533

310,178

NET BOOK VALUE

At 31 March 2025

7,746

9,648

17,394

At 31 March 2024

13,832

12,212

26,044

6.

STOCKS

2025

2024

£

£

Work-in-progress

134,000

96,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

155,987

171,629

Prepayments and accrued income

40,987

51,231

196,974

222,860

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Social security and other taxes

14,668

11,822

VAT

53,229

53,783

Accrued expenses

73,242

64,050

141,139

129,655