Streets Spenser Wilson LLP Filleted accounts for Companies House (small and micro)

REGISTERED NUMBER: OC450270

STREETS SPENSER WILSON LLP

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED

31 March 2025

STREETS SPENSER WILSON LLP

STATEMENT OF FINANCIAL POSITION

31 March 2025

	31 Mar 25
Note	£	£

Fixed assets

Tangible assets	5		150,165

Current assets

Debtors	6	615,761
Cash at bank and in hand		343,168
		---------
		958,929

Creditors: amounts falling due within one year	7	( 881,515)
		---------
Net current assets			77,414
			---------
Total assets less current liabilities			227,579

Creditors: amounts falling due after more than one year	8		( 98,307)

Provisions

Pensions and similar obligations		( 3,420)
		---------
Net assets		125,852
		---------

Represented by:

Loans and other debts due to members

Other amounts	9		5,852

Members' other interests

Members' capital classified as equity		120,000
Other reserves		–
		---------
		125,852
		---------

Total members' interests

Amounts due from members		(394,701)
Loans and other debts due to members	9	5,852
Members' other interests		120,000
		---------
		(268,849)
		---------

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.

STREETS SPENSER WILSON LLP

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

For the period 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 .

These financial statements were approved by the members and authorised for issue on 12 December 2025 , and are signed on their behalf by:

Streets Management Services

Designated Member

Registered number: OC450270

STREETS SPENSER WILSON LLP

NOTES TO THE FINANCIAL STATEMENTS

PERIOD FROM 12 DECEMBER 2023 TO 31 MARCH 2025

1.	General information

The LLP is registered in England and Wales. The address of the registered office is Tower House, Lucy Tower Street, Lincoln, Lincolnshire, LN1 1XW.

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 and represents amounts receivable services rendered, stated net of discounts and of Value Added Tax, and is inclusive of accrued income for any work done not invoiced. Given the nature of the services provided the billings plus any accrued income represent the fair value of the services provided.

Members' participation rights

The financial statements have been prepared on the historical cost basis and in in sterling, which is the functional currency of the entity. 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. 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:

Leashold Property Improvements	-	10% straight line
Plant & Machinery	-	20% straight line
Fixtures & Fittings	-	10% straight line
Motor Vehicles	-	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.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

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.

4.	Employee numbers

The average number of persons employed by the LLP during the period, including the members with contracts of employment, amounted to 18 .

5.	Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 12 December 2023	42,939	96,341	58,898	264,027	462,205
Additions	–	–	309	–	309
Disposals	–	–	( 149)	( 84,624)	( 84,773)
	--------	--------	--------	---------	---------
At 31 March 2025	42,939	96,341	59,058	179,403	377,741
	--------	--------	--------	---------	---------
Depreciation
At 12 December 2023	26,955	90,727	37,309	63,739	218,730
Charge for the period	2,056	2,680	3,352	24,826	32,914
Disposals	–	–	( 87)	( 23,981)	( 24,068)
	--------	--------	--------	---------	---------
At 31 March 2025	29,011	93,407	40,574	64,584	227,576
	--------	--------	--------	---------	---------
Carrying amount
At 31 March 2025	13,928	2,934	18,484	114,819	150,165
	--------	--------	--------	---------	---------

6.	Debtors

	31 Mar 25
	£
Trade debtors	119,715
Other debtors	496,046
	---------
	615,761
	---------

7. Creditors: amounts falling due within one year

	31 Mar 25
	£
Trade creditors	604,354
Social security and other taxes	128,418
Other creditors	148,743
	---------
	881,515
	---------

8. Creditors: amounts falling due after more than one year

	31 Mar 25
	£
Other creditors	98,307
	--------

9.	Loans and other debts due to members

	31 Mar 25
	£
Amounts owed to members in respect of profits	5,852
	-------

10.	Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	31 Mar 25
	£
Not later than 1 year	46,619
Later than 1 year and not later than 5 years	150,000
	---------
	196,619
	---------

11.	Related party transactions

The partnership was under the control of Streets Management Services , a general commercial partnership, throughout the current period. The partnership did not enter into any transactions during the current period, such as would require disclosure in accordance with FRS 102 section 1A.