Squarebird LLP LLP accounts

REGISTERED NUMBER: OC417937

Squarebird LLP

Unaudited Financial Statements

31 March 2025

Squarebird LLP

Financial Statements

Year ended 31 March 2025

Contents	Page

Members' report	1

Statement of comprehensive income	2

Statement of financial position	3

Reconciliation of members' interests	5

Notes to the financial statements	7

Squarebird LLP

Members' Report

Year ended 31 March 2025

The members present their report and the unaudited financial statements of the LLP for the year ended 31 March 2025 .

Principal activities

The principal activity of the company during the year was web design.

Designated members

The designated members who served the LLP during the year were as follows:

Mr J Bird
Mr N Bird

Policy regarding members' drawings and the subscription and repayment of amounts subscribed or otherwise contributed by members

Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP.

New members are required to subscribe a minimum level of capital and in subsequent years members are invited to subscribe for further capital, the amounts of which is determined by the performance and seniority of those members. On retirement, capital is repaid to members.

This report was approved by the members on 12 December 2025 and signed on behalf of the members by:

Mr J Bird	Mr N Bird
Designated Member	Designated Member

Registered office:

88 High Street

Nailsea

Bristol

BS48 1AS

Squarebird LLP

Statement of Comprehensive Income

Year ended 31 March 2025

	2025	2024
Note	£	£
Turnover	184,981	1,121,561

Cost of sales	31,258	134,463
	---------	------------
Gross profit	153,723	987,098

Administrative expenses		122,210	646,464
		---------	---------
Operating profit	5	31,513	340,634

Other interest receivable and similar income	890	–
Interest payable and similar expenses	3,060	15,059
	---------	---------
Profit for the financial year before members' remuneration and profit shares available for discretionary division among members	29,343	325,575
	---------	---------

All the activities of the LLP are from continuing operations.

Squarebird LLP

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	6		–	360,098

Current assets

Debtors	7	–	160,045
Cash at bank and in hand		1,737	102,898
		-------	---------
		1,737	262,943

Creditors: amounts falling due within one year	8	1,737		173,195
		-------		---------
Net current assets			–	89,748
			----	---------
Total assets less current liabilities			–	449,846

Creditors: amounts falling due after more than one year	9	–	126,498
		----	---------
Net assets		–	323,348
		----	---------

Represented by:

Loans and other debts due to members

Other amounts	10	–	323,348
		----	---------

Members' other interests

Other reserves	–	–
	----	---------
	–	323,348
	----	---------

Total members' interests

Loans and other debts due to members	10	–	323,348
Members' other interests		–	–
		----	---------
		–	323,348
		----	---------

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the 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) relating to small LLPs.

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 financial statements .

Squarebird LLP

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the members and authorised for issue on 12 December 2025 , and are signed on their behalf by:

Mr J Bird	Mr N Bird
Designated Member	Designated Member

Registered number: OC417937

Squarebird LLP

Reconciliation of Members' Interests

Year ended 31 March 2025

	Members' other interests		Loans and other debts due to members less any amounts due from members in debtors		Total members' interests
	Other reserves	Total	Other amounts	Total	Total 2025
	£	£	£	£	£
Balance at 1 April 2024	–	–	323,346	323,346	323,346
Profit for the financial year available for discretionary division among members	29,343	29,343			29,343
	--------	--------	---------	---------	---------
Members' interests after profit for the year	29,343	29,343	323,346	323,346	352,689
Other division of profits	(29,343)	(29,343)	29,343	29,343	–
Drawings			(352,689)	(352,689)	(352,689)
	--------	--------	---------	---------	---------
Balance at 31 March 2025	–	–	–	–	–
	--------	--------	---------	---------	---------

Squarebird LLP

Reconciliation of Members' Interests (continued)

Year ended 31 March 2025

	Members' other interests		Loans and other debts due to members less any amounts due from members in debtors		Total members' interests
	Other reserves	Total	Other amounts	Total	Total 2024
	£	£	£	£	£
Balance at 1 April 2023	–	–	270,182	270,182	270,182
Profit for the financial year available for discretionary division among members	325,575	325,575			325,575
	---------	---------	---------	---------	---------
Members' interests after profit for the year	325,575	325,575	270,182	270,182	595,757
Other division of profits	(325,575)	(325,575)	325,575	325,575	–
Drawings			(272,409)	(272,409)	(272,409)
	---------	---------	---------	---------	---------
Balance at 31 March 2024	–	–	323,348	323,348	323,348
	---------	---------	---------	---------	---------

Squarebird LLP

Notes to the Financial Statements

Year ended 31 March 2025

1.	General information

The LLP is registered in England and Wales. The address of the registered office is 88 High Street, Nailsea, Bristol, BS48 1AS.

2.	Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP 2021).

3.	Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Disclosure exemptions

Disclosures in respect of financial instruments have not been presented.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

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' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

		-	25% reducing balance
		-	25% reducing balance
		-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the LLP are assigned to those units.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4.	Employee numbers

The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 18 (2024: 17 ).

5.	Operating profit

Operating profit or loss is stated after charging:

	2025	2024
	£	£
Depreciation of tangible assets	3,139	38,194
	-------	--------

6.	Tangible assets

	Land and buildings	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024	320,681	14,919	35,050	101,780	472,430
Disposals	( 320,681)	( 14,919)	( 35,050)	( 101,780)	( 472,430)
	---------	--------	--------	---------	---------
At 31 March 2025	–	–	–	–	–
	---------	--------	--------	---------	---------
Depreciation
At 1 April 2024	–	10,431	26,733	75,168	112,332
Charge for the year	–	188	346	2,605	3,139
Disposals	–	( 10,619)	( 27,079)	( 77,773)	( 115,471)
	---------	--------	--------	---------	---------
At 31 March 2025	–	–	–	–	–
	---------	--------	--------	---------	---------
Carrying amount
At 31 March 2025	–	–	–	–	–
	---------	--------	--------	---------	---------
At 31 March 2024	320,681	4,488	8,317	26,612	360,098
	---------	--------	--------	---------	---------

7.	Debtors

	2025	2024
	£	£
Trade debtors	–	159,995
Other debtors	–	50
	----	---------
	–	160,045
	----	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	–	26,990
Trade creditors	–	33,030
Social security and other taxes	–	77,951
Other creditors	1,737	35,224
	-------	---------
	1,737	173,195
	-------	---------

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	–	126,498
	----	---------

10.	Loans and other debts due to members

	2025	2024
	£	£
Amounts owed to members in respect of profits	–	323,348
	----	---------