Company No: OC430615 (England and Wales)

Contents

• Balance Sheet
• Reconciliation of Members' Interests
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	121,079		42,047
		121,079		42,047
Current assets
Stocks	4	327,394		481,578
Debtors	5	833,412		959,006
Cash at bank and in hand		431,616		522,579
		1,592,422		1,963,163
Creditors: amounts falling due within one year	6	( 581,209)		( 791,377)
Net current assets		1,011,213		1,171,786
Total assets less current liabilities		1,132,292		1,213,833
Net assets attributable to members		1,132,292		1,213,833
Represented by
Loans and other debts due to members within one year
Members' capital classified as a liability		300,000		1,337,850
Other amounts		832,292		(124,017)
		1,132,292		1,213,833
Members' other interests
		0		0
		1,132,292		1,213,833
Total members' interests
Loans and other debts due to members		1,132,292		1,213,833
		1,132,292		1,213,833

For the financial 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.

Members' responsibilities:

• The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of Levison Meltzer Pigott LLP (registered number: OC430615) were approved and authorised for issue by the Board of Directors on 07 December 2025. They were signed on its behalf by:

Mr Simon Pigott Designated member

	EQUITY Members' other interests	DEBT Loans and other debts due to members less any amounts due from members in debtors			Total members' interests
	Other reserves	Members' capital (classified as debt)	Other amounts	Total	Total
	£	£	£	£	£
Amounts due to members		1,337,850	0	1,337,850
Balance at 01 April 2023	0	1,337,850	0	1,337,850	1,337,850
Profit for the financial year available for discretionary division among members	936,456	0	0	0	936,456
Members' interest after profit for the financial year	936,456	1,337,850	0	1,337,850	2,274,306
Division of profit	(936,456)	0	936,456	936,456	0
Drawings	0	0	(1,060,473)	(1,060,473)	(1,060,473)
Amounts due to members		1,337,850	(124,017)	1,213,833
Balance at 31 March 2024	0	1,337,850	(124,017)	1,213,833	1,213,833
Profit for the financial year available for discretionary division among members	863,522	0	0	0	863,522
Members' interest after profit for the financial year	863,522	1,337,850	(124,017)	1,213,833	2,077,355
Division of profit	(863,522)	0	863,522	863,522	0
Drawings	0	0	(945,063)	(945,063)	(945,063)
Transfers	0	(1,037,850)	1,037,850	0	0
Amounts due to members		300,000	832,292	1,132,292
Balance at 31 March 2025	0	300,000	832,292	1,132,292	1,132,292

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Levison Meltzer Pigott LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is St Paul's House, 10 Warwick Lane,, London, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Defined contribution schemes
The LLP operates a defined contribution scheme. The amount charged to the Statement of Comprehensive Income in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings	5 years straight line
Office equipment	4 years straight line
Other property, plant and equipment	not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Work in progress are valued at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Work in progress includes labour and attributable overheads and is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

At each balance sheet date, work in progress is assessed for impairment. If work in progress is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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. A member’s participation rights including amounts subscribed or otherwise contributed by members, for example members’ capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

The profits are not automatically divided as they arise, the LLP therefore has an unconditional right to refuse payment of the profits for a particular year unless and until those profits are divided by a decision taken by the members; and accordingly, following such a division, those profits are classed as an appropriation or equity rather than an expense. They are therefore shown as a residual amount available for appropriation in the Profit and Loss Account.

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 Profit and Loss Account 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'.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the LLP during the year	15		13

3. Tangible assets

	Fixtures and fittings		Office equipment		Other property, plant and equipment		Total
	£		£		£		£
Cost
At 01 April 2024	5,593		31,647		41,516		78,756
Additions	11,967		70,611		0		82,578
At 31 March 2025	17,560		102,258		41,516		161,334
Accumulated depreciation
At 01 April 2024	5,592		31,117		0		36,709
Charge for the financial year	216		3,330		0		3,546
At 31 March 2025	5,808		34,447		0		40,255
Net book value
At 31 March 2025	11,752		67,811		41,516		121,079
At 31 March 2024	1		530		41,516		42,047

4. Stocks

	2025		2024
	£		£
Work in progress	327,394		481,578

5. Debtors

	2025		2024
	£		£
Trade debtors	674,238		766,148
Prepayments	42,825		41,840
VAT recoverable	51,269		151,018
Other debtors	65,080		0
	833,412		959,006

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	357,503		564,977
Accruals and deferred income	182,181		201,857
Other taxation and social security	41,525		0
Other creditors	0		24,543
	581,209		791,377

7. Financial commitments

Pensions

The LLP operates a defined contribution pension scheme for the members and employees. The assets of the scheme are held separately from those of the LLP in an independently administered fund.

	2025		2024
	£		£
Other pensions commitments not shown in the Balance Sheet	17,612		17,101

8. Related party transactions

Levison Meltzer Pigott Services Limited, a company in which Mr Jeremy Levison, Mr Simon Pigott and Ms Alison Hayes are directors and shareholders, recharged rent, rates and service charges amounting to £311,326 (2024: £305,196) and management charges amounting to £8,000 (2024: £8,000) to the LLP. At the Balance Sheet date, the amount owed to Levison Meltzer Services Limited was £Nil (2024: £24,543).