REGISTERED NUMBER: OC401192 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Wasley Chapman LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

N A Duell

P Cuthbert

M Porritt

Mrs E L Henderson

R Meadows

REGISTERED OFFICE:

5 Bobbies Bank

Whitby

United Kingdom

North Yorkshire

YO21 1EF

REGISTERED NUMBER:

OC401192 (England and Wales)

ACCOUNTANTS:

Wasley Chapman LLP

Chartered Accountants

5 Bobbies Bank

Whitby

North Yorkshire

YO21 1EF

FIXED ASSETS

Intangible assets

4

1,100,000

1,100,000

Tangible assets

5

112,812

147,567

1,212,812

1,247,567

CURRENT ASSETS

Stocks

541,510

610,889

Cash at bank and in hand

1,192

71,477

542,702

682,366

CREDITORS

Amounts falling due within one year

6

176,387

218,061

NET CURRENT ASSETS

366,315

464,305

TOTAL ASSETS LESS CURRENT LIABILITIES

1,579,127

1,711,872

CREDITORS

Amounts falling due after more than one year

7

85,745

166,366

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,493,382

1,545,506

LOANS AND OTHER DEBTS DUE TO MEMBERS

1,493,382

1,545,506

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

1,493,382

1,545,506

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 15 October 2025 and were signed by:

N A Duell - Designated member

P Cuthbert - Designated member

1.	STATUTORY INFORMATION

Wasley Chapman 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill has been brought in from the partnership accounts.

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.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance and 20% on reducing balance

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.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2024 - 34 ).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

1,100,000

NET BOOK VALUE

At 31 March 2025

1,100,000

At 31 March 2024

1,100,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

584,157

Additions

24,346

Disposals

(33,995

)

At 31 March 2025

574,508

DEPRECIATION

At 1 April 2024

436,590

Charge for year

33,605

Eliminated on disposal

(8,499

)

At 31 March 2025

461,696

NET BOOK VALUE

At 31 March 2025

112,812

At 31 March 2024

147,567

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

2,656

3,994

Hire purchase contracts

53,328

72,937

Trade creditors

1

-

Taxation and social security

101,568

94,212

Other creditors

18,834

46,918

176,387

218,061

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

85,745

166,366