Wyvern Partnership LLP

	Page
Statement of Financial Position	1—2
Reconciliation of Members' Interests	3—4
Notes to the Financial Statements	4—6

Registered number: OC420302

		31 March 2025		30 June 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		271,890		113,130

			271,890		113,130
CURRENT ASSETS
Stocks	5	265,562		313,325
Debtors	6	766,622		1,106,035
Cash at bank and in hand		732,432		1,327,976

		1,764,616		2,747,336
Creditors: Amounts Falling Due Within One Year	7	(398,259 )		(773,489 )

NET CURRENT ASSETS (LIABILITIES)			1,366,357		1,973,847

TOTAL ASSETS LESS CURRENT LIABILITIES			1,638,247		2,086,977

Creditors: Amounts Falling Due After More Than One Year	8		(174,824 )		-

NET ASSETS ATTRIBUTABLE TO MEMBERS			1,463,423		2,086,977

REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts		1,463,423		2,086,977

			1,463,423		2,086,977

			1,463,423		2,086,977

TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year			1,463,423		2,086,977

			1,463,423		2,086,977

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Wyvern Partnership LLP

Statement of Financial Position (continued)

As At 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 applicable to LLPs subject to the small LLPs regime.)

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 accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Income Statement.

On behalf of the members

Mr S Woodley

Designated Member

16/12/2025

The notes on pages 4 to 6 form part of these financial statements.

	EQUITY	DEBT
	Members' other interests	Loans and other debts due to members less any amounts due from members in debtors
	Other Reserves	Other amounts	Total members' interest
	£	£	£
Amounts due to members	-	1,536,478	-

Balance at 1 July 2023	-	1,536,478	1,536,478
Profit/(loss) for the financial year available for discretionary division among members	1,659,555	-	1,659,555

Members' interests after profit/(loss) for the year	1,659,555	1,536,478	3,196,033
Other divisions of profits (losses)	(1,659,555)	1,659,555	-
Drawings	-	(1,109,056)	(1,109,056)

Amounts due to members	-	2,086,977	-

As at 30 June 2024 and 1 July 2024	-	2,086,977	2,086,977


Profit/(loss) for the financial year available for discretionary division among members	929,495	-	929,495

Members' interests after profit/(loss) for the year	929,495	2,086,977	3,016,472
Other divisions of profits (losses)	(929,495)	929,495	-
Drawings	-	(1,553,049)	(1,553,049)

Amounts due to members	-	1,463,423	-

As at 31 March 2025	-	1,463,423	1,463,423

1. General Information

Wyvern Partnership LLP is a limited liability partnership, incorporated in England & Wales, registered number OC420302 . The Registered Office is 10 Long Street, Devizes, Wiltshire, SN10 1NJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in May 2024 (SORP) and the Companies Act 2006 (as applied to LLPs).

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

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	25% reducing balance
Fixtures & Fittings	15% reducing balance

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the LLP. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the period was: 22 (2024: 23)

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Wyvern Partnership LLP

Notes to the Financial Statements (continued)

For the Period 1 July 2024 to 31 March 2025

4. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 July 2024	253,037	62,189	315,226
Additions	248,308	22,237	270,545
Disposals	(197,446 )	-	(197,446 )

As at 31 March 2025	303,899	84,426	388,325

Depreciation
As at 1 July 2024	146,289	55,807	202,096
Provided during the period	19,739	8,750	28,489
Disposals	(114,150 )	-	(114,150 )

As at 31 March 2025	51,878	64,557	116,435

Net Book Value
As at 31 March 2025	252,021	19,869	271,890

As at 1 July 2024	106,748	6,382	113,130

5. Stocks

	31 March 2025	30 June 2024
	£	£
Work in progress	265,562	313,325

6. Debtors

	31 March 2025	30 June 2024
	£	£
Due within one year
Trade debtors	749,089	1,093,293
Prepayments and accrued income	16,556	10,865
Other debtors	977	1,877

	766,622	1,106,035

7. Creditors: Amounts Falling Due Within One Year

	31 March 2025	30 June 2024
	£	£
Net obligations under finance lease and hire purchase contracts	25,591	122,339
Trade creditors	42,918	40,047
Bank loans and overdrafts	3,633	-
Other taxes and social security	22,499	18,159
VAT	249,035	331,579
Net wages	8,171	7,426
Other creditors	39,762	212,519
Accruals and deferred income	6,650	4,534
Amounts owed to other participating interests	-	36,886

	398,259	773,489

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Wyvern Partnership LLP

Notes to the Financial Statements (continued)

For the Period 1 July 2024 to 31 March 2025

8. Creditors: Amounts Falling Due After More Than One Year

	31 March 2025	30 June 2024
	£	£
Net obligations under finance lease and hire purchase contracts	174,824	-

9. Obligations Under Finance Leases and Hire Purchase

	31 March 2025	30 June 2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	25,591	122,339
Later than one year and not later than five years	174,824	-

	200,415	122,339

	200,415	122,339

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