IPOS Mediation LLP Filleted accounts for Companies House (small and micro)

REGISTERED NUMBER: OC399536

IPOS MEDIATION LLP

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2025

IPOS MEDIATION LLP

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		30,911		51,447

CURRENT ASSETS

Debtors	6	330,182	245,731
Cash at bank and in hand		222,739	274,673
		---------	---------
		552,921	520,404

CREDITORS: amounts falling due within one year	7	545,458		553,643
		---------		---------
NET CURRENT ASSETS/(LIABILITIES)			7,463		( 33,239)
			--------		--------
TOTAL ASSETS LESS CURRENT LIABILITIES			38,374		18,208
			--------		--------
NET ASSETS			38,374		18,208
			--------		--------

REPRESENTED BY:

LOANS AND OTHER DEBTS DUE TO MEMBERS

Other amounts	8	38,374	18,208
		--------	--------

MEMBERS' OTHER INTERESTS

Other reserves	–	–
	--------	--------
	38,374	18,208
	--------	--------

TOTAL MEMBERS' INTERESTS

Amounts due from members		(62,920)	(30,220)
Loans and other debts due to members	8	38,374	18,208
Members' other interests		–	–
		--------	--------
		(24,546)	(12,012)
		--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.

For the 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) relating to small LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .

IPOS MEDIATION LLP

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

These financial statements were approved by the members and authorised for issue on 26 November 2025 , and are signed on their behalf by:

Mrs H Afolami

Designated Member

Registered number: OC399536

IPOS MEDIATION LLP

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1.	GENERAL INFORMATION

The LLP is registered in England and Wales. The address of the registered office is The Barn Manor Road, Old Road, Lamport, Northamptonshire, NN6 9HF.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP 2021).

3.	ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

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, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Motor Vehicles	-	25% reducing balance
Office Equipment	-	3 years straight line and 15% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4.	EMPLOYEE NUMBERS

The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 4 (2024: 5 ).

5.	TANGIBLE ASSETS

	Motor vehicles	Office Equipment	Total
	£	£	£
Cost
At 1 April 2024	97,406	9,002	106,408
Additions	–	1,695	1,695
Disposals	( 47,417)	–	( 47,417)
	--------	--------	---------
At 31 March 2025	49,989	10,697	60,686
	--------	--------	---------
Depreciation
At 1 April 2024	47,308	7,653	54,961
Charge for the year	9,633	1,033	10,666
Disposals	( 35,852)	–	( 35,852)
	--------	--------	---------
At 31 March 2025	21,089	8,686	29,775
	--------	--------	---------
Carrying amount
At 31 March 2025	28,900	2,011	30,911
	--------	--------	---------
At 31 March 2024	50,098	1,349	51,447
	--------	--------	---------

6.	DEBTORS

	2025	2024
	£	£
Trade debtors	200,871	209,394
Other debtors	129,311	36,337
	---------	---------
	330,182	245,731
	---------	---------

7. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	267,685	349,597
Social security and other taxes	26,720	10,402
Other creditors	251,053	193,644
	---------	---------
	545,458	553,643
	---------	---------

8.	LOANS AND OTHER DEBTS DUE TO MEMBERS

	2025	2024
	£	£
Amounts owed to members in respect of profits	38,374	18,208
	--------	--------

Loans and other debts due to members rank pari passu with unsecured creditors. In accordance with the SORP and FRS 102, the 'capital' has been classified as a liability and 'loans and other debts due to members' are deemed to be repayable within one year.