Registered No. OC426002 (England and Wales)
GOODHAMS ACCOUNTANTS & TAX ADVISORS LLP
Unaudited accounts
for the year ended 31 March 2025
GOODHAMS ACCOUNTANTS & TAX ADVISORS LLP
Statement of financial position
as at 31 March 2025
Intangible assets
50,000
62,500
Tangible assets
8,904
13,224
Investments
750,000
750,000
Cash at bank and in hand
21,321
64,983
Creditors: amounts falling due within one year
(405,993)
(256,432)
Net current assets
142,604
197,010
Total assets less current liabilities
951,508
1,022,734
Creditors: amounts falling due after more than one year
(6,550)
(24,500)
Net assets attributable to members
944,958
998,234
Loans and other debts due to members
(71,731)
1,775
Members' capital classified as equity
883,000
883,000
Other reserves
133,689
113,459
GOODHAMS ACCOUNTANTS & TAX ADVISORS LLP
Statement of financial position
as at 31 March 2025 (continued)
Loans and other debts due to members
(71,731)
1,775
Members' other interests
1,016,689
996,459
For the year ending 31 March 2025 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the members on 9 December 2025.
Viktoria Balla
Designated member
Limited Liability Partnership Registration No. OC426002
GOODHAMS ACCOUNTANTS & TAX ADVISORS LLP
Notes to the Accounts
for the year ended 31 March 2025
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Remuneration paid to members under a contract of employment is included as an expense in the profit and loss account. Other fixed amounts paid to members are also included within members' remuneration treated as an expense.
Members' shares in the profit or loss for the year are accounted for as an allocation of profits. Unallocated profits and losses are included within 'other reserves'.
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital, even if that obligation is conditional.
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing balance method
Motor vehicles
5 Years Straight line
Computer equipment
20% Reducing balance method
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation over the amortised life of 10 years.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Transactions in foreign currencies are recorded using the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date and the gains or losses on translation are included in the profit and loss account.
GOODHAMS ACCOUNTANTS & TAX ADVISORS LLP
Notes to the Accounts
for the year ended 31 March 2025
The LLP operates a defined contribution scheme for the benefit of its employees. Contributions are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.
Where the LLP enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a 'finance lease'. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated over its estimated useful life or the term of the lease, whichever is shorter. Future instalments under such leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account, and the capital element which reduces the outstanding obligation for future instalments.
All other leases are accounted for as 'operating leases' and the rental charges are charged to the profit and loss account on a straight line basis over the life of the lease.
Rents receivable on the freehold investment property under the terms of the operating lease are included in the profit and loss account on a receivable basis.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
GOODHAMS ACCOUNTANTS & TAX ADVISORS LLP is a limited liability partnership, incorporated in England and Wales, registration number OC426002. Its registered office is HQ Moorgate, 45 Moorfields, Moorgate, London, EC2Y 9AE, United Kingdom.
3
Intangible fixed assets
Goodwill
Charge for the year
12,500
GOODHAMS ACCOUNTANTS & TAX ADVISORS LLP
Notes to the Accounts
for the year ended 31 March 2025
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2024
9,356
14,000
7,500
30,856
At 31 March 2025
9,356
14,000
7,500
30,856
At 1 April 2024
4,558
8,400
4,674
17,632
Charge for the year
955
2,800
565
4,320
At 31 March 2025
5,513
11,200
5,239
21,952
At 31 March 2025
3,843
2,800
2,261
8,904
At 31 March 2024
4,798
5,600
2,826
13,224
5
Investments
Other investments
6
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
6,722
-
Trade creditors
131,570
8,483
Amounts owed to group undertakings and other participating interests
69,480
52,975
Taxes and social security costs
103,564
66,130
Other creditors
40,581
80,830
7
Creditors: amounts falling due after more than one year
2025
2024
8
Loans and other debts due to members
2025
2024
Amounts due to members in respect of profits
(71,731)
1,775
Amounts falling due within one year
(71,731)
1,775
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
9
Average number of employees
During the year the average number of employees was 23 (2024: 17).