REGISTERED NUMBER: OC367348 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

MAXEY GROUNDS & CO LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mrs S A Pollard BA, MRICS, FAAV

A J Faulkner MScMRICS FAAV MCIArb

Ms P A V Clarke ANAEA

REGISTERED OFFICE:

27-29 Old Market

Wisbech

Cambridgeshire

PE13 1NE

REGISTERED NUMBER:

OC367348 (England and Wales)

ACCOUNTANTS:

Wheelers

Chartered Accountants & Tax Consultants

27-29 Old Market

Wisbech

Cambridgeshire

PE13 1NE

FIXED ASSETS

Intangible assets

4

31,225

-

Tangible assets

5

45,278

37,363

Investments

6

6,200

-

82,703

37,363

CURRENT ASSETS

Stocks

3,966

5,000

Debtors

7

105,340

114,319

Cash at bank and in hand

128,311

108,672

237,617

227,991

CREDITORS

Amounts falling due within one year

8

121,742

116,124

NET CURRENT ASSETS

115,875

111,867

TOTAL ASSETS LESS CURRENT LIABILITIES

198,578

149,230

CREDITORS

Amounts falling due after more than one year

9

25,886

37,500

NET ASSETS ATTRIBUTABLE TO MEMBERS

172,692

111,730

LOANS AND OTHER DEBTS DUE TO MEMBERS

11

172,692

111,730

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

11

172,692

111,730

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 16 December 2025 and were signed by:

A J Faulkner MScMRICS FAAV MCIArb - Designated member

Ms P A V Clarke ANAEA - Designated member

1.	STATUTORY INFORMATION

Maxey Grounds & Co LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

Last year the reporting period was shortened by one month in order to align with the tax year, therefore, comparatives are not entirely comparable.

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.

The members believe that the LLP is well placed to manage its financial risks successfully and have reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax, except in respect of service contracts where turnover is recognised when the LLP obtains the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2025, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

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

Improvements to property

-

over term of the lease

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on cost

Stock and work in progress

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Where work is carried out on a contingent fee basis full provision is made against the costs involved until the likely outcome of the work can be foreseen.

Investments

Unlisted investments are valued at cost less impairment.

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 14 (2024 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 April 2024

-

29,430

29,430

Additions

31,225

-

31,225

At 31 March 2025

31,225

29,430

60,655

AMORTISATION

At 1 April 2024

and 31 March 2025

-

29,430

29,430

NET BOOK VALUE

At 31 March 2025

31,225

-

31,225

At 31 March 2024

-

-

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2024

21,487

42,435

67,070

130,992

Additions

10,232

5,766

5,627

21,625

Disposals

-

(7,549

)

(1,056

)

(8,605

)

At 31 March 2025

31,719

40,652

71,641

144,012

DEPRECIATION

At 1 April 2024

12,867

24,197

56,565

93,629

Charge for year

1,937

3,415

6,882

12,234

Eliminated on disposal

-

(6,441

)

(688

)

(7,129

)

At 31 March 2025

14,804

21,171

62,759

98,734

NET BOOK VALUE

At 31 March 2025

16,915

19,481

8,882

45,278

At 31 March 2024

8,620

18,238

10,505

37,363

6.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

Additions

6,200

At 31 March 2025

6,200

NET BOOK VALUE

At 31 March 2025

6,200

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

77,954

79,548

Other debtors

27,386

34,771

105,340

114,319

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

25,000

25,000

Trade creditors

19,728

30,736

Taxation and social security

43,408

32,484

Other creditors

33,606

27,904

121,742

116,124

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

12,513

37,500

Other creditors

13,373

-

25,886

37,500

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.25

31.3.24

£

£

Within one year

56,356

36,979

Between one and five years

77,503

31,006

133,859

67,985

11.

LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up, loans and other debts due to members and members' other interests rank subordinate to other unsecured creditors.