REGISTERED NUMBER: OC336382 (England and Wales)

FOLKES WORTON LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

N.H. Meredith FCA

N.C. Smith BSc(Hons) FCA

M. Morris CTA FCCA

REGISTERED OFFICE:

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

REGISTERED NUMBER:

OC336382 (England and Wales)

FIXED ASSETS

Intangible assets

4

104,781

155,074

Tangible assets

5

359,628

299,161

464,409

454,235

CURRENT ASSETS

Work in progress

21,003

21,229

Debtors

6

756,159

636,968

777,162

658,197

CREDITORS

Amounts falling due within one year

7

680,056

761,378

NET CURRENT ASSETS/(LIABILITIES)

97,106

(103,181

)

TOTAL ASSETS LESS CURRENT LIABILITIES

561,515

351,054

CREDITORS

Amounts falling due after more than one year

8

-

69,490

NET ASSETS ATTRIBUTABLE TO MEMBERS

561,515

281,564

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

561,515

281,564

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

561,515

281,564

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 23 December 2025 and were signed by:

N.H. Meredith FCA - Designated member

N.C. Smith BSc(Hons) FCA - Designated member

1.	STATUTORY INFORMATION

Folkes Worton 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

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

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

Fixtures and fittings - 10% Reducing Balance

Motor Vehicles - 25% Reducing Balance

Work in progress

Work in progress is valued in line with UITF40.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 29 (2024 - 30 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

502,933

AMORTISATION

At 1 April 2024

347,859

Charge for year

50,293

At 31 March 2025

398,152

NET BOOK VALUE

At 31 March 2025

104,781

At 31 March 2024

155,074

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 April 2024

267,815

197,026

464,841

Additions

90,234

31,338

121,572

Disposals

-

(40,788

)

(40,788

)

At 31 March 2025

358,049

187,576

545,625

DEPRECIATION

At 1 April 2024

124,932

40,748

165,680

Charge for year

15,646

42,506

58,152

Eliminated on disposal

-

(37,835

)

(37,835

)

At 31 March 2025

140,578

45,419

185,997

NET BOOK VALUE

At 31 March 2025

217,471

142,157

359,628

At 31 March 2024

142,883

156,278

299,161

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

726,110

603,611

Other debtors

30,049

33,357

756,159

636,968

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

122,642

174,690

Trade creditors

72,945

71,087

Taxation and social security

320,174

209,016

Other creditors

164,295

306,585

680,056

761,378

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

69,490

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

With the exception of items with may have guarantees, loans and other debts due to members rank equal with all other creditors.