REGISTERED NUMBER: OC402837 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

STRATEX PARTNERS LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

T M O'Connor

Mrs J O'Connor

REGISTERED OFFICE:

Capital Place

Wickham Hall

Bishop's Stortford

Hertfordshire

CM23 1JG

REGISTERED NUMBER:

OC402837 (England and Wales)

ACCOUNTANTS:

Thompson Taraz Rand Ltd

Chartered Accountants

10 Jesus Lane

Cambridge

Cambridgeshire

CB5 8BA

FIXED ASSETS

Tangible assets

5

276,854

337,744

CURRENT ASSETS

Debtors

6

88,360

128,019

Cash and cash equivalents

41,046

14,237

129,406

142,256

CREDITORS

Amounts falling due within one year

7

(82,758

)

(63,029

)

NET CURRENT ASSETS

46,648

79,227

TOTAL ASSETS LESS CURRENT LIABILITIES

323,502

416,971

CREDITORS

Amounts falling due after more than one year

8

(310,077

)

(368,045

)

NET ASSETS ATTRIBUTABLE TO MEMBERS

13,425

48,926

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

13,425

48,926

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

13,425

48,926

Amounts due from members

6

(70,360

)

(84,563

)

(56,935

)

(35,637

)

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 Profit and loss account 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:

T M O'Connor - Designated member

1.	STATUTORY INFORMATION

Stratex Partners LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Revenue from consultancy services is recognised in accordance with FRS 102, Section 23 Revenue, and is measured at the fair value of the consideration received or receivable, net of VAT.

For time and materials contracts, revenue is recognised as services are delivered. For fixed-fee arrangements, revenue is recognised by reference to the stage of completion when the outcome can be estimated reliably, based on costs incurred, time spent, or milestones achieved. If the outcome cannot be measured reliably, revenue is recognised only to the extent of recoverable costs incurred. Retainer or subscription fees are recognised on a straight-line basis over the period in which the services are provided.

Where consultancy services are provided in advance of invoicing, the amounts are recognised as accrued income within debtors. Where clients are invoiced in advance of service delivery, the amounts are recognised as deferred income within creditors and released to revenue as the related services are performed.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles - 25% reducing method

Office equipment - 33% on cost

Computer equipment -33% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Financial instruments

Categories of Financial Assets and Financial Liabilities:

The carrying amounts of the Company’s financial assets and liabilities are as follows:

Financial assets measured at amortised cost - trade debtors, other debtors, amounts owed by group undertakings, cash and cash equivalents.

Financial liabilities measured at amortised cost - trade creditors, other creditors, amounts owed to directors, amounts owed to group undertakings, bank loans, other loans, and hire purchase obligations.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Going concern

Although the LLP's liabilities exceed its assets, the partners believe it will continue to operate for the next twelve months.

4.	EMPLOYEE INFORMATION

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

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

523,132

DEPRECIATION

At 1 April 2024

185,388

Charge for year

60,890

At 31 March 2025

246,278

NET BOOK VALUE

At 31 March 2025

276,854

At 31 March 2024

337,744

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

516,265

DEPRECIATION

At 1 April 2024

178,521

Charge for year

60,890

At 31 March 2025

239,411

NET BOOK VALUE

At 31 March 2025

276,854

At 31 March 2024

337,744

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

18,000

39,600

Amounts owed by associates

-

3,530

Other debtors

70,360

84,889

88,360

128,019

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

65,077

44,918

Trade creditors

3,377

1,486

Taxation and social security

9,569

12,245

Other creditors

4,735

4,380

82,758

63,029

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

310,077

368,045

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

375,154

412,963

Liabilities held under hire purchase agreements are secured against the assets to which they relate.

On the 18th March 2022 a fixed and floating charge was registered by National Westminster Bank PLC over the assets of the LLP.

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to ordinary creditors.