Mothers of Invention LLP Filleted accounts for Companies House (small and micro)

REGISTERED NUMBER: OC370680

Mothers of Invention LLP

Filleted Unaudited Financial Statements

31 March 2025

Mothers of Invention LLP

Financial Statements

Year ended 31 March 2025

Contents	Page

Members' report	1

Statement of financial position	2

Notes to the financial statements	4

Mothers of Invention LLP

Members' Report

Year ended 31 March 2025

The members present their report and the unaudited financial statements of the LLP for the year ended 31 March 2025 .

Principal activities

The principal activity of the company during the year was marketing and advertising consultancy.

Designated members

The designated members who served the LLP during the year were as follows:

Mrs A E Ley
Mr P E F Ley

Policy regarding members' drawings and the subscription and repayment of amounts subscribed or otherwise contributed by members

Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP.

New members are required to subscribe a minimum level of capital and in subsequent years members are invited to subscribe for further capital, the amounts of which is determined by the performance and seniority of those members. On retirement, capital is repaid to members.

This report was approved by the members on 2 December 2025 and signed on behalf of the members by:

Mrs A E Ley	Mr P E F Ley
Designated Member	Designated Member

Registered office:

Barn Ground Barn

Hatherop

Cirencester

United Kingdom

GL7 3NE

Mothers of Invention LLP

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		1,255	793

Current assets

Debtors	6	19,146	20,585
Cash at bank and in hand		38,998	41,120
		--------	--------
		58,144	61,705

Creditors: amounts falling due within one year	7	28,732		24,962
		--------		--------
Net current assets			29,412	36,743
			--------	--------
Total assets less current liabilities			30,667	37,536
			--------	--------
Net assets			30,667	37,536
			--------	--------

Represented by:

Loans and other debts due to members

Other amounts	8	30,667	37,536
		--------	--------

Members' other interests

Other reserves	–	–
	--------	--------
	30,667	37,536
	--------	--------

Total members' interests

Loans and other debts due to members	8	30,667	37,536
Members' other interests		–	–
		--------	--------
		30,667	37,536
		--------	--------

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 .

Mothers of Invention LLP

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the members and authorised for issue on 2 December 2025 , and are signed on their behalf by:

Mrs A E Ley	Mr P E F Ley
Designated Member	Designated Member

Registered number: OC370680

Mothers of Invention 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 Barn Ground Barn, Hatherop, Cirencester, GL7 3NE, United Kingdom.

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.

Going concern

These accounts have been prepared on a going concern basis. The members are satisfied that the LLP will continue to meet its current obligations for at least the next 12 months.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

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 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 Income statement 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 income statement 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 income statement 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	-	25% straight line
Equipment	-	25% 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.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4.	Employee numbers

There were no persons employed by the LLP during the year (2024: nil).

5.	Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 April 2024	887	11,257	12,144
Additions	–	1,083	1,083
	----	--------	--------
At 31 March 2025	887	12,340	13,227
	----	--------	--------
Depreciation
At 1 April 2024	724	10,627	11,351
Charge for the year	42	579	621
	----	--------	--------
At 31 March 2025	766	11,206	11,972
	----	--------	--------
Carrying amount
At 31 March 2025	121	1,134	1,255
	----	--------	--------
At 31 March 2024	163	630	793
	----	--------	--------

6.	Debtors

	2025	2024
	£	£
Trade debtors	14,400	20,400
Other debtors	4,746	185
	--------	--------
	19,146	20,585
	--------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	8,828	3,594
Social security and other taxes	9,532	10,965
Other creditors	10,372	10,403
	--------	--------
	28,732	24,962
	--------	--------

8.	Loans and other debts due to members

	2025	2024
	£	£
Amounts owed to members in respect of profits	30,667	37,536
	--------	--------