Company No: OC353498 (England and Wales)

Contents

• Limited Liability Partnership Information
• Statement of Financial Position
• Reconciliation of Members' Interests
• Notes to the Financial Statements

DESIGNATED MEMBERS	Alan Titchmarsh Limited
	Mr A F Titchmarsh
	Mrs A Titchmarsh

REGISTERED OFFICE	264 Banbury Road
	Summertown
	Oxford
	OX2 7DY
	United Kingdom

REGISTERED NUMBER

OC353498 (England and Wales)

ACCOUNTANT	Shaw Gibbs Limited
	264 Banbury Road
	Oxford
	OX2 7DY
	United Kingdom

	Note	2025		2024
		£		£
				Restated - note 2
Fixed assets
Tangible assets	4	6,103		6,787
		6,103		6,787
Current assets
Debtors	5	126,022		93,376
Cash at bank and in hand		98,434		266,537
		224,456		359,913
Creditors: amounts falling due within one year	6	( 32,164)		( 68,598)
Net current assets		192,292		291,315
Total assets less current liabilities		198,395		298,102
Net assets attributable to members		198,395		298,102
Represented by
Loans and other debts due to members within one year
Other amounts		(234,619)		(335,943)
		(234,619)		(335,943)
Members' other interests
Other reserves		433,014		634,045
		433,014		634,045
		198,395		298,102
Total members' interests
Loans and other debts due to members		(234,619)		(335,943)
Members' other interests		433,014		634,045
		198,395		298,102

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 Smudger Enterprises LLP (registered number: OC353498) were approved and authorised for issue by the Board of Directors on 09 December 2025. They were signed on its behalf by:

Mr A F Titchmarsh 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	Other amounts	Total
	£	£	£
Amounts due to members		(570,064)
Balance at 01 April 2023	779,626	(570,064)	209,562
Profit for the financial year available for discretionary division among members	634,045	0	634,045
Members' interest after profit for the financial year	1,413,671	(570,064)	843,607
Drawings	0	(545,505)	(545,505)
Division of profits	(779,626)	779,626	0
Amounts due to members		(335,943)
Balance at 31 March 2024 (restated - note 2)	634,045	(335,943)	298,102
Profit for the financial year available for discretionary division among members	433,014	0	433,014
Members' interest after profit for the financial year	1,067,059	(335,943)	731,116
Drawings	0	(532,721)	(532,721)
Division of profits	(634,045)	634,045	0
Amounts due to members		(234,619)
Balance at 31 March 2025	433,014	(234,619)	198,395

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

Smudger Enterprises 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 264 Banbury Road, Summertown, Oxford, OX2 7DY, United Kingdom.

The financial statements have been prepared under the historical cost convention 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 LLP and rounded to the nearest £.

Prior year adjustment

During the year it was agreed that amounts due to members had been previously overstated as amounts recoverable from members presented as debtors on the Balance Sheet. These amounts have previously been repaid to the members via their drawings. The Balance Sheet has been re-stated for the current and prior period.

Turnover

Turnover represents the amounts recoverable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. The following specific recognition criteria must also be met before revenue is recognised.

• Publications
Income is recognised on completion of contractual obligations in accordance with book agreements.

• Television and appearance
Income is recognised on delivery of completed programmes and by event.

• Image rights
Income is recognised over the term of contracts and by service delivered.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The LLP operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

The LLP does not provide pensions or annuity benefits for its members or outgoing members. They are expected to provide from their share of the profits for their planned retirement.

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:

Plant and machinery	15 % reducing balance
Vehicles	25 % reducing balance
Office equipment	20 % reducing balance

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The members are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The members consider that the individual carrying values of assets are supportable by their value in use.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the LLP becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the LLP after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the LLP intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the LLP transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the LLP, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the LLP's contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the limited liability partnership are recorded at the fair value of the proceeds received, net of direct issue costs.

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.

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'. Amounts due to members that are classified as equity are shown in the Statement of Financial Position within 'Members' other interests'.

2. Prior year adjustment

		As previously reported		Adjustment		As restated
Year ended 31 March 2024		£		£		£
Amounts due to members		1,277,200		(1,277,200)		0
Amounts due from members		(1,847,264)		1,277,200		(570,064)

During the year it was agreed that amounts due to members had been previously overstated as amounts recoverable from members presented as debtors on the Balance Sheet. These amounts have previously been repaid to the members via their drawings. This amendment has had no effect on equity.

3. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the LLP during the year	3		3

4. Tangible assets

	Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£
Cost
At 01 April 2024	9,867		38,669		8,250		56,786
Additions	0		0		707		707
At 31 March 2025	9,867		38,669		8,957		57,493
Accumulated depreciation
At 01 April 2024	8,705		36,092		5,202		49,999
Charge for the financial year	175		644		572		1,391
At 31 March 2025	8,880		36,736		5,774		51,390
Net book value
At 31 March 2025	987		1,933		3,183		6,103
At 31 March 2024	1,162		2,577		3,048		6,787

5. Debtors

	2025		2024
	£		£
Trade debtors	132		681
Prepayments	125,890		92,695
	126,022		93,376

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	306		306
Accruals	8,810		6,850
Other taxation and social security	18,304		51,142
Other creditors	4,744		10,300
	32,164		68,598

7. Financial commitments

Other financial commitments

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

8. Members' Transactions

Alan Titchmarsh Limited is a designated member of Smudger Enterprises LLP and a company in which Mr A F Titchmarsh and Mrs A M Titchmarsh own 100% of the issued share capital. At the year end Smudger Enterprises LLP was owed £4,697 (2024 - £4,697) by Alan Titchmarsh Limited.