REGISTERED NUMBER: OC364537 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

JERMAN, SAMUELS & PEARSON LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

M C Jerman

S Samuels

I R Clift

C S Denniss

REGISTERED OFFICE:

Kingswood House

Third Floor

58 - 64 Baxter Avenue

Southend on Sea

Essex

SS2 6BG

REGISTERED NUMBER:

OC364537 (England and Wales)

ACCOUNTANTS:

Segrave & Partners LLP

Chartered Accountants

Turnpike House

1208/1210 London Road

Leigh on Sea

Essex

SS9 2UA

FIXED ASSETS

Tangible assets

4

100,012

82,276

CURRENT ASSETS

Stocks

488,763

567,920

Debtors

5

6,762

88,072

Cash at bank and in hand

356,383

378,461

851,908

1,034,453

CREDITORS

Amounts falling due within one year

6

624,245

618,745

NET CURRENT ASSETS

227,663

415,708

TOTAL ASSETS LESS CURRENT LIABILITIES

327,675

497,984

CREDITORS

Amounts falling due after more than one year

7

39,368

81,406

NET ASSETS ATTRIBUTABLE TO MEMBERS

288,307

416,578

LOANS AND OTHER DEBTS DUE TO MEMBERS

288,307

416,578

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

288,307

416,578

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2025.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 11 December 2025 and were signed by:

M C Jerman - Designated member

1.	STATUTORY INFORMATION

JERMAN, SAMUELS & PEARSON LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

not provided

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 27 (2024 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Motor

leasehold

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2024

-

80,207

153,260

233,467

Additions

7,039

65,806

-

72,845

At 31 March 2025

7,039

146,013

153,260

306,312

DEPRECIATION

At 1 April 2024

-

62,042

89,149

151,191

Charge for year

-

16,794

38,315

55,109

At 31 March 2025

-

78,836

127,464

206,300

NET BOOK VALUE

At 31 March 2025

7,039

67,177

25,796

100,012

At 31 March 2024

-

18,165

64,111

82,276

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

4,658

73,814

Other debtors

-

4,000

Prepayments

2,104

10,258

6,762

88,072

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

202,299

238,018

Loans

140,515

145,000

Hire purchase contracts (see note 8)

42,038

14,863

Social security and other taxes

17,350

17,973

VAT

103,147

117,503

Other creditors

32,970

20,073

Client indebtedness

65,976

46,325

Accrued expenses

19,950

18,990

624,245

618,745

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 8)

39,368

81,406

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

42,038

14,863

Between one and five years

39,368

81,406

81,406

96,269

Non-cancellable

operating leases

2025

2024

£

£

Within one year

91,000

61,400

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

202,299

238,018

Hire purchase contracts

81,406

96,269

283,705

334,287

The bank overdraft is personally guaranteed by the members, whilst the hire purchase contracts are secured against the items to which they relate.