REGISTERED NUMBER: OC350146 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Locke Williams Associates LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mrs K L Williams

D J Williams

REGISTERED OFFICE:

Studio 2

50-54 St Pauls Square

Birmingham

West Midlands

B3 1QS

REGISTERED NUMBER:

OC350146 (England and Wales)

ACCOUNTANTS:

Locke Williams Associates LLP

Chartered Accountants

Studio 2

50-54 St Pauls Square

Birmingham

West Midlands

B3 1QS

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,633

6,246

2,633

6,246

CURRENT ASSETS

Debtors

6

146,202

128,569

Cash at bank and in hand

229,275

190,941

375,477

319,510

CREDITORS

Amounts falling due within one year

7

66,351

70,656

NET CURRENT ASSETS

309,126

248,854

TOTAL ASSETS LESS CURRENT LIABILITIES

311,759

255,100

CREDITORS

Amounts falling due after more than one year

8

1,769

12,235

NET ASSETS ATTRIBUTABLE TO MEMBERS

309,990

242,865

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

308,990

241,865

MEMBERS' OTHER INTERESTS

Capital accounts

1,000

1,000

309,990

242,865

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

308,990

241,865

Members' other interests

1,000

1,000

309,990

242,865

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 17 October 2025 and were signed by:

Mrs K L Williams - Designated member

D J Williams - Designated member

1.	STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents the net invoiced sales of services, excluding Value Added Tax, except when the partnership has earned the right to consideration when this amount is also recognised as sales

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, has been fully amortised evenly over its estimated useful life of five years.

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 the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are

recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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.

Taxation

The partnership does not provide for taxation on its income as the liabilities arising are personal to the members and accounted for within their drawings when settled from partnership funds

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 5 (2024 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

120,573

AMORTISATION

At 1 April 2024

and 31 March 2025

120,573

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

48,304

Additions

2,274

Disposals

(28,618

)

At 31 March 2025

21,960

DEPRECIATION

At 1 April 2024

42,058

Charge for year

5,887

Eliminated on disposal

(28,618

)

At 31 March 2025

19,327

NET BOOK VALUE

At 31 March 2025

2,633

At 31 March 2024

6,246

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

123,309

101,437

Other debtors

22,893

27,132

146,202

128,569

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

10,467

10,204

Trade creditors

21,904

28,244

Taxation and social security

30,658

28,923

Other creditors

3,322

3,285

66,351

70,656

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

1,769

12,235

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

31.3.25

31.3.24

£

£

Amounts owed to members in respect of profits

308,990

241,865

Falling due within one year

308,990

241,865

Loans and other debts due to members are repayable on demand. These amounts rank after all other unsecured creditors in the event of a winding up of the LLP.

10.	OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £7,388 (2024 £28,320).