REGISTERED NUMBER: OC373025 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

George Hay Partnership LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Westacres Accountancy Limited

RCD 42 Limited

MANA 433 Limited

CAA Accountancy Ltd

REGISTERED OFFICE:

Brigham House

93 High Street

Biggleswade

Bedfordshire

SG18 0LD

REGISTERED NUMBER:

OC373025 (England and Wales)

FIXED ASSETS

Intangible assets

5

21,550

36,554

Tangible assets

6

46,076

61,422

Investments

7

3

3

67,629

97,979

CURRENT ASSETS

Debtors

8

1,651,771

1,546,871

Cash at bank and in hand

18,355

460

1,670,126

1,547,331

CREDITORS

Amounts falling due within one year

9

785,216

865,411

NET CURRENT ASSETS

884,910

681,920

TOTAL ASSETS LESS CURRENT LIABILITIES

952,539

779,899

CREDITORS

Amounts falling due after more than one year

10

438,274

547,337

NET ASSETS ATTRIBUTABLE TO MEMBERS

514,265

232,562

LOANS AND OTHER DEBTS DUE TO MEMBERS

12

2,493,361

1,863,706

MEMBERS' OTHER INTERESTS

Obligations re Prior Members

(547,336

)

(656,399

)

Other reserves

(1,431,760

)

(974,745

)

514,265

232,562

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

12

2,493,361

1,863,706

Members' other interests

(1,979,096

)

(1,631,144

)

514,265

232,562

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 15 October 2025 and were signed by:

Westacres Accountancy Limited - Designated member

1.	STATUTORY INFORMATION

George Hay 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.	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 are presented in GBP which is the functional currency of the LLP.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT. The policies adopted for the recognition of turnover are as follows:

When the outcome of a transaction can be measured reliably turnover from services provided is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to recoverable time expended.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of businesses in 2013, 2016 and 2019 has been fully amortised evenly over its estimated useful life of five years.

Goodwill, being the amount paid in connection with the acquisition of businesses in 2021 and 2024, is being amortised evenly over its estimated useful life of five years.

Provision is made for any impairment.

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 etc

-

20% on reducing balance, 20% on reducing balance and Straight line over 15 years

Investments in subsidiaries

Investments in subsidiary undertakings are measured at cost less impairment.

Financial instruments

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.

Debtors and creditors falling due or payable in more than one year have not been discounted as the net affect to the accounts is deemed immaterial.

Bank loans are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case these are stated at cost.

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 as they become payable.

Members' remuneration

The allocation of profits to members is determined by reference to profit share rights as set out in the Members' Agreement.

Profits are automatically allocated to the members and therefore are included in members' remuneration charged as an expense along with fixed members' remuneration payable to the members.

Post-retirement payments

On leaving the LLP, a members share is repaid as per the terms of the members' agreement.

4.	EMPLOYEE INFORMATION

The average number of employees during the year was 51 (2024 - 54 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

250,923

Additions

3,558

At 31 March 2025

254,481

AMORTISATION

At 1 April 2024

214,369

Charge for year

18,562

At 31 March 2025

232,931

NET BOOK VALUE

At 31 March 2025

21,550

At 31 March 2024

36,554

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

254,016

Additions

9,275

Disposals

(102,856

)

At 31 March 2025

160,435

DEPRECIATION

At 1 April 2024

192,594

Charge for year

21,121

Eliminated on disposal

(99,356

)

At 31 March 2025

114,359

NET BOOK VALUE

At 31 March 2025

46,076

At 31 March 2024

61,422

7.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

3

NET BOOK VALUE

At 31 March 2025

3

At 31 March 2024

3

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

695,685

693,670

Amounts owed by group undertakings

-

19,490

Amounts recoverable on contracts

710,401

607,414

Other debtors

245,685

226,297

1,651,771

1,546,871

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

-

89,172

Trade creditors

57,744

103,165

Amounts owed to group undertakings

39,137

-

Taxation and social security

392,702

365,885

Other creditors

295,633

307,189

785,216

865,411

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

438,274

547,337

Amounts falling due in more than five years:

Repayable by instalments

Other loans more than 5 years repayable by instalments

84,085

165,793

11.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

138,675

138,675

Between one and five years

516,025

554,700

In more than five years

-

100,000

654,700

793,375

12.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.