REGISTERED NUMBER: OC307133 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

WELLS PROFESSIONAL PARTNERSHIP LLP

Page

General Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mrs J L Barker

Ms S A Kesby

K Havard

Miss E J Gooch

D A Clarke

REGISTERED OFFICE:

Ground Floor Oakhurst House

77 Mount Ephraim

Tunbridge Wells

Kent

TN4 8BS

REGISTERED NUMBER:

OC307133 (England and Wales)

FIXED ASSETS

Intangible assets

4

750,000

750,000

Tangible assets

5

4,695

17,976

754,695

767,976

CURRENT ASSETS

Stocks

70,420

84,420

Debtors

6

240,627

320,149

Cash at bank and in hand

115,218

54,027

426,265

458,596

CREDITORS

Amounts falling due within one year

7

(123,971

)

(126,822

)

NET CURRENT ASSETS

302,294

331,774

TOTAL ASSETS LESS CURRENT LIABILITIES

1,056,989

1,099,750

CREDITORS

Amounts falling due after more than one year

8

(2,654

)

(13,043

)

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,054,335

1,086,707

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

304,335

336,707

MEMBERS' OTHER INTERESTS

Capital accounts

750,000

750,000

1,054,335

1,086,707

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

304,335

336,707

Members' other interests

750,000

750,000

Amounts due from members

6

(30,628

)

(46,415

)

1,023,707

1,040,292

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 2 December 2025 and were signed by:

Miss E J Gooch - Designated member

1.	STATUTORY INFORMATION

Wells Professional Partnership 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.	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 net invoiced fee income in respect of services provided, excluding value added tax.

Goodwill

The goodwill as owned by the designated members was introduced into the LLP on 6 April 2010. Given that the goodwill has not depreciated in value, no amortisation charge is required for the year.

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.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

50% on cost

Work in progress

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

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.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 9 (2024 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

750,000

NET BOOK VALUE

At 31 March 2025

750,000

At 31 March 2024

750,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

133,003

Additions

4,107

Disposals

(33,948

)

At 31 March 2025

103,162

DEPRECIATION

At 1 April 2024

115,027

Charge for year

3,222

Eliminated on disposal

(19,782

)

At 31 March 2025

98,467

NET BOOK VALUE

At 31 March 2025

4,695

At 31 March 2024

17,976

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

165,566

230,926

Other debtors

75,061

89,223

240,627

320,149

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,389

10,070

Trade creditors

32,477

45,904

Taxation and social security

72,574

62,933

Other creditors

8,531

7,915

123,971

126,822

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

2,654

13,043

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

13,043

23,113

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu with unsecured creditors. Members' other interests rank pari passu with unsecured creditors.

11.	RELATED PARTY DISCLOSURES

For the period under review the LLP was controlled by its designated members.