Stodarts LLP Filleted accounts for Companies House (small and micro)

REGISTERED NUMBER: SO306910

Stodarts LLP

Filleted Unaudited Financial Statements

31 March 2025

Stodarts LLP

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		6,191	6,830

Current assets

Work in progress		172,250	137,750
Debtors	6	146,124	172,366
Cash at bank and in hand		1,881,071	1,261,898
		------------	------------
		2,199,445	1,572,014

Creditors: amounts falling due within one year	7	1,743,302		1,165,762
		------------		------------
Net current assets			456,143	406,252
			---------	---------
Total assets less current liabilities			462,334	413,082
			---------	---------
Net assets			462,334	413,082
			---------	---------

Represented by:

Loans and other debts due to members

Other amounts	8	462,334	413,082
		---------	---------

Members' other interests

Other reserves	–	–
	---------	---------
	462,334	413,082
	---------	---------

Total members' interests

Loans and other debts due to members	8	462,334	413,082
Members' other interests		–	–
		---------	---------
		462,334	413,082
		---------	---------

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 .

Stodarts LLP

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the members and authorised for issue on 13 August 2025 , and are signed on their behalf by:

Alan Bayley	Ruth McCall
Designated Member	Designated Member

Joanne Hogg
Designated Member

Registered number: SO306910

Stodarts LLP

Notes to the Financial Statements

Year ended 31 March 2025

1.	General information

The LLP is registered in Scotland. The address of the registered office is Almada Chambers, 95 Almada Street, Hamilton, South Lanarkshire, ML3 0EY.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Office equipment	-	10% straight line
Computer equipment	-	20% reducing balance

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4.	Employee numbers

The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 10 (2024: 9 ).

5.	Tangible assets

	Office Equipment	Computer Equipment	Total
	£	£	£
Cost
At 1 April 2024	10,658	24,883	35,541
Additions	308	556	864
	--------	--------	--------
At 31 March 2025	10,966	25,439	36,405
	--------	--------	--------
Depreciation
At 1 April 2024	10,023	18,688	28,711
Charge for the year	142	1,361	1,503
	--------	--------	--------
At 31 March 2025	10,165	20,049	30,214
	--------	--------	--------
Carrying amount
At 31 March 2025	801	5,390	6,191
	--------	--------	--------
At 31 March 2024	635	6,195	6,830
	--------	--------	--------

6.	Debtors

	2025	2024
	£	£
Trade debtors	83,008	110,221
Other debtors	63,116	62,145
	---------	---------
	146,124	172,366
	---------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	13,929	24,190
Social security and other taxes	32,380	46,666
Amounts due to clients	1,690,097	1,091,656
Other creditors	6,896	3,250
	------------	------------
	1,743,302	1,165,762
	------------	------------

8.	Loans and other debts due to members

	2025	2024
	£	£
Amounts owed to members in respect of profits	462,334	413,082
	---------	---------