REGISTERED NUMBER: OC343759 (England and Wales)

OGLETHORPE STURTON & GILLIBRAND LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

General Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Designated members:

Ms E J Briggs

Mr D E Park

Mrs C L Love

Mrs J M Grabowski

Mr J L Myers

Mr A H Sumner

Mr D Barnes

Registered office:

16 Castle Park

LANCASTER

LA1 1YG

Registered number:

OC343759 (England and Wales)

Accountants:

Xeinadin

Dalton House

9 Dalton Square

LANCASTER

LA1 1WD

Bankers:

HSBC Bank Plc

35 Market Street

LANCASTER

LA1 1JQ

Fixed assets

Tangible assets

4

444,092

324,032

Current assets

Debtors

1,246,874

1,398,987

Prepayments and accrued income

116,417

131,014

Cash at bank and in hand

344,536

329,161

1,707,827

1,859,162

Creditors

Amounts falling due within one year

(658,704

)

(543,458

)

Net current assets

1,049,123

1,315,704

Total assets less current liabilities

1,493,215

1,639,736

Creditors

Amounts falling due after more than one year

5

(306,815

)

(258,105

)

Accruals and deferred income

(46,327

)

(50,983

)

Net assets attributable to members

1,140,073

1,330,648

Loans and other debts due to members

8

1,140,073

1,330,648

Total members' interests

Loans and other debts due to members

8

1,140,073

1,330,648

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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

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:

Mrs J M Grabowski - Designated member

1.	Statutory information

Oglethorpe Sturton & Gillibrand 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 as modified by the revaluation of certain assets.

Turnover

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

Tangible fixed assets

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

Land and buildings

-

2% Straight line

Plant and machinery etc

-

25% on cost, 15% Reducing balance and 2% Straight line

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 56 (2024 - 60 ) .

4.	Tangible fixed assets

Totals

£

Cost or valuation

At 1 April 2024

605,445

Additions

14,023

Revaluations

142,190

At 31 March 2025

761,658

Depreciation

At 1 April 2024

281,413

Charge for year

36,153

At 31 March 2025

317,566

Net book value

At 31 March 2025

444,092

At 31 March 2024

324,032

Cost or valuation at 31 March 2025 is represented by:

Totals

£

Valuation in 2025

142,190

Cost

619,468

761,658

5.

Creditors: amounts falling due after more than five years

2025

2024

£

£

Repayable by instalments

Payments to former member

90,320

61,447

6.	Leasing agreements

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

2025

2024

£

£

Within one year

92,872

92,272

Between one and five years

178,262

245,094

271,134

337,366

7.	Secured debts

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

172,030

160,630

Bank loans

75,125

128,521

247,155

289,151

Fixed charge over the freehold property known as 17, Main Street, Kirkby Lonsdale, Carnforth LA6 2AQ

HSBC have a fixed and floating charge over the undertaking and all property and assets present and future.

8.

Loans and other debts due to members

2025

2024

£

£

Loans from members

872,779

882,084

Amounts owed to members in respect of profits

267,294

448,564

1,140,073

1,330,648

Falling due within one year

1,140,073

1,330,648

Loans and other debts due to members are unsecured and would rank pari passu with other unsecured creditors in the event of a winding up.

9.	Related party disclosures

During the period the LLP paid rent on a normal commercial basis to SIPP's, owned by some designated members of the LLP, in the sum of £55,000 (period 1 June 2023 to 31 March 2024 - £45,833).