REGISTERED NUMBER: OC355811

Unaudited Financial Statements for the Year Ended 31 March 2025

for

MORGAN DE VERE & PARTNERS LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

S C Morgan

J A Wiggett

REGISTERED OFFICE:

The Granary

High Street

Turvey

Bedfordshire

MK43 8DB

REGISTERED NUMBER:

OC355811

ACCOUNTANTS:

Cox & Co. (Accountancy) Limited

Chartered Accountants

The Granary

High Street

Turvey

Bedford

Bedfordshire

MK43 8DB

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

30,927

94,718

Investments

6

204,000

204,000

234,927

298,718

CURRENT ASSETS

Debtors

301,423

10,073

Cash at bank

7,920

414,303

309,343

424,376

CREDITORS

Amounts falling due within one year

7

121,844

108,718

NET CURRENT ASSETS

187,499

315,658

TOTAL ASSETS LESS CURRENT LIABILITIES

422,426

614,376

CREDITORS

Amounts falling due after more than one year

8

422,426

614,376

NET LIABILITIES ATTRIBUTABLE TO MEMBERS

-

-

LOANS AND OTHER DEBTS DUE TO MEMBERS

-

-

TOTAL MEMBERS' INTERESTS

Amounts due from members

(301,423

)

(10,073

)

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 10 June 2025 and were signed by:

S C Morgan - Designated member

J A Wiggett - Designated member

1.	STATUTORY INFORMATION

Morgan de Vere & Partners LLP is registered in Not specified/Other. 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill has been fully written down to £nil value.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2024 - 2 ).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

1,051,781

AMORTISATION

At 1 April 2024

and 31 March 2025

1,051,781

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

309,448

Disposals

(175,816

)

At 31 March 2025

133,632

DEPRECIATION

At 1 April 2024

214,730

Charge for year

10,308

Eliminated on disposal

(122,333

)

At 31 March 2025

102,705

NET BOOK VALUE

At 31 March 2025

30,927

At 31 March 2024

94,718

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2024

238,611

Transfer to ownership

(147,432

)

At 31 March 2025

91,179

DEPRECIATION

At 1 April 2024

150,935

Charge for year

8,548

Eliminated on disposal

(122,333

)

Transfer to ownership

28,386

At 31 March 2025

65,536

NET BOOK VALUE

At 31 March 2025

25,643

At 31 March 2024

87,676

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 April 2024

and 31 March 2025

204,000

NET BOOK VALUE

At 31 March 2025

204,000

At 31 March 2024

204,000

Cost or valuation at 31 March 2025 is represented by:

Other

investments

£

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

15,564

5,556

Hire purchase contracts

8,925

34,291

Trade creditors

21,474

20,719

Other creditors

75,881

48,152

121,844

108,718

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

37,760

28,705

Hire purchase contracts

27,528

85,671

Other creditors

357,138

500,000

422,426

614,376

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

6,482

Other loans more 5yrs instal

357,138

500,000

357,138

506,482

9.	SECURED DEBTS

There are three separate debentures, dated 20 November 2011, 8 December 2011 and 21 January 2013, held in favour of Openwork Services Limited, by way of a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery, and all income streams and present and future book debts due to the LLP.