The Oakley Partnership LLP Filleted accounts for Companies House (small and micro)

REGISTERED NUMBER: OC391764

The Oakley Partnership LLP

Filleted Unaudited Financial Statements

31 March 2025

The Oakley Partnership LLP

Financial Statements

Year ended 31 March 2025

Contents	Page

Chartered certified accountants report to the members on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Reconciliation of members' interests	4

Notes to the financial statements	6

The Oakley Partnership LLP

Chartered Certified Accountants Report to the Members on the Preparation of the Unaudited Statutory Financial Statements of The Oakley Partnership LLP

Year ended 31 March 2025

As described on the statement of financial position, the members of the LLP are responsible for the preparation of the financial statements for the year ended 31 March 2025, which comprise the statement of financial position, reconciliation of members' interests and the related notes. You consider that the LLP is exempt from an audit under the Companies Act 2006 as applied to limited liability partnerships by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

LINDLEY & CO Chartered Certified Accountants

Suite 4 Europa House Europa Way Britannia Enterprise Park Lichfield Staffordshire WS14 9TZ

28 November 2025

The Oakley Partnership LLP

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	64,780	76,920

Current assets

Stocks		7,772	11,772
Debtors	6	16,239	6,776
Cash at bank and in hand		15,200	29,725
		--------	--------
		39,211	48,273

Creditors: amounts falling due within one year	7	100,132	43,662
		---------	--------
Net current (liabilities)/assets		( 60,921)	4,611
		--------	--------
Total assets less current liabilities		3,859	81,531

Creditors: amounts falling due after more than one year	8	1,128	43,108
		-------	--------
Net assets		2,731	38,423
		-------	--------

Represented by:

Loans and other debts due to members

Other amounts	9	2,731	38,423
		-------	--------

Members' other interests

Other reserves	–	–
	-------	--------
	2,731	38,423
	-------	--------

Total members' interests

Amounts due from members		(10,191)	–
Loans and other debts due to members	9	2,731	38,423
Members' other interests		–	–
		--------	--------
		(7,460)	38,423
		--------	--------

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 .

The Oakley Partnership LLP

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the members and authorised for issue on 28 November 2025 , and are signed on their behalf by:

Dr D Eccleston

Designated Member

Registered number: OC391764

The Oakley Partnership LLP

Reconciliation of Members' Interests

Year ended 31 March 2025

	Members' other interests		Loans and other debts due to members less any amounts due from members in debtors		Total members' interests
	Other reserves	Total	Other amounts	Total	Total 2025
	£	£	£	£	£
Amounts due to members			38,423	38,423
Amounts due from members			–	–
			--------	--------
Balance at 1 April 2024	–	–	38,423	38,423	38,423
Profit for the financial year available for discretionary division among members	4,117	4,117			4,117
	-------	-------	--------	--------	--------
Members' interests after profit for the year	4,117	4,117	38,423	38,423	42,540
Other division of profits	(4,117)	(4,117)	4,117	4,117	–
Drawings			(50,000)	(50,000)	(50,000)
			--------	--------
Amounts due to members			2,731	2,731
Amounts due from members			(10,191)	(10,191)
	-------	-------	--------	--------	--------
Balance at 31 March 2025	–	–	(7,460)	(7,460)	(7,460)
	-------	-------	--------	--------	--------

The Oakley Partnership LLP

Reconciliation of Members' Interests (continued)

Year ended 31 March 2025

	Members' other interests		Loans and other debts due to members less any amounts due from members in debtors		Total members' interests
	Other reserves	Total	Other amounts	Total	Total 2024
	£	£	£	£	£
Balance at 1 April 2023	–	–	84,916	84,916	84,916
Profit for the financial year available for discretionary division among members	66,312	66,312			66,312
	--------	--------	--------	--------	---------
Members' interests after profit for the year	66,312	66,312	84,916	84,916	151,228
Other division of profits	(66,312)	(66,312)	66,312	66,312	–
Drawings			(112,805)	(112,805)	(112,805)
	--------	--------	---------	---------	---------
Balance at 31 March 2024	–	–	38,423	38,423	38,423
	--------	--------	---------	---------	---------

The Oakley Partnership 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 Suite 4 Europa House, Europa Way, Britannia Enterprise Park, Lichfield, Staffordshire, WS14 9TZ.

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.

Going concern

The accounts have been prepared on a going concern basis assuming the continued support of the designated members.

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. Revenue from the provision of services is recognised when the provision of service is complete.

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'.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and 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:

Fixtures and fittings	-	20% straight line
Motor vehicles	-	25% straight line
Equipment	-	33% straight line

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the LLP are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4.	Employee numbers

The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 5 (2024: 6 ).

5.	Tangible assets

	Long leasehold property	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024	16,749	5,878	97,722	11,167	131,516
Additions	–	5,497	–	–	5,497
	--------	--------	--------	--------	---------
At 31 March 2025	16,749	11,375	97,722	11,167	137,013
	--------	--------	--------	--------	---------
Depreciation
At 1 April 2024	–	5,580	37,849	11,167	54,596
Charge for the year	–	1,626	16,011	–	17,637
	--------	--------	--------	--------	---------
At 31 March 2025	–	7,206	53,860	11,167	72,233
	--------	--------	--------	--------	---------
Carrying amount
At 31 March 2025	16,749	4,169	43,862	–	64,780
	--------	--------	--------	--------	---------
At 31 March 2024	16,749	298	59,873	–	76,920
	--------	--------	--------	--------	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Motor vehicles
	£
At 31 March 2025	43,862
	--------
At 31 March 2024	59,873
	--------

6.	Debtors

	2025	2024
	£	£
Trade debtors	4,937	5,155
Other debtors	11,302	1,621
	--------	-------
	16,239	6,776
	--------	-------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	9,596	14,000
Trade creditors	37,187	14,327
Social security and other taxes	1,732	717
Other creditors	51,617	14,618
	---------	--------
	100,132	43,662
	---------	--------

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	–	3,821
Other creditors	1,128	39,287
	-------	--------
	1,128	43,108
	-------	--------

9.	Loans and other debts due to members

	2025	2024
	£	£
Amounts owed to members in respect of profits	2,731	38,423
	-------	--------

10.	Controlling party

The LLP is controlled by D Eccleston and A Eccleston.