REGISTERED NUMBER: OC341484 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

UNDERWOOD BARRON LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

C F Underwood

Underwood Barron Associates Limited

T Kumar

D A Brown

REGISTERED OFFICE:

Monks Brook House

13-17 Hursley Road

Chandlers Ford

Eastleigh

SO53 2FW

REGISTERED NUMBER:

OC341484 (England and Wales)

FIXED ASSETS

Intangible assets

4

464,406

464,406

Tangible assets

5

124,167

56,053

588,573

520,459

CURRENT ASSETS

Stocks

873

1,028

Debtors

6

477,611

440,559

Cash at bank and in hand

152,409

130,733

630,893

572,320

CREDITORS

Amounts falling due within one year

7

328,673

232,934

NET CURRENT ASSETS

302,220

339,386

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

890,793

859,845

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

440,793

409,845

MEMBERS' OTHER INTERESTS

Capital accounts

450,000

450,000

890,793

859,845

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

440,793

409,845

Members' other interests

450,000

450,000

890,793

859,845

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 20 December 2025 and were signed by:

T Kumar - Designated member

D A Brown - Designated member

1.	STATUTORY INFORMATION

Underwood Barron 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 (£).

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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance and 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 18 (2024 - 18 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

743,051

AMORTISATION

At 1 April 2024

and 31 March 2025

278,645

NET BOOK VALUE

At 31 March 2025

464,406

At 31 March 2024

464,406

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

131,080

Additions

128,775

Disposals

(74,382

)

At 31 March 2025

185,473

DEPRECIATION

At 1 April 2024

75,027

Charge for year

20,088

Eliminated on disposal

(33,809

)

At 31 March 2025

61,306

NET BOOK VALUE

At 31 March 2025

124,167

At 31 March 2024

56,053

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2024

53,293

Additions

127,598

Disposals

(53,293

)

At 31 March 2025

127,598

DEPRECIATION

At 1 April 2024

25,274

Charge for year

13,816

Eliminated on disposal

(25,893

)

At 31 March 2025

13,197

NET BOOK VALUE

At 31 March 2025

114,401

At 31 March 2024

28,019

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

258,636

337,719

Amounts owed by group undertakings

116,507

21,798

Amounts recoverable on contract

33,780

30,395

Other debtors

68,688

50,647

477,611

440,559

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

1,438

629

Trade creditors

78,527

53,802

Taxation and social security

125,329

128,234

Other creditors

123,379

50,269

328,673

232,934

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

31.3.25

31.3.24

£

£

Amounts owed to members in respect of profits

440,793

409,845

Falling due within one year

440,793

409,845