Fox-Pitt Eventing LLP - LLP accounts 24.3

REGISTERED NUMBER: OC384377 (England and Wales)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

FOX-PITT EVENTING LLP

Page

General Information

1

Report of the Members

2

Chartered Accountants' Report

3

Income Statement

4

Balance Sheet

5

Reconciliation of Members' Interests

7

Notes to the Financial Statements

9

DESIGNATED MEMBERS:

W S L Fox-Pitt

Mrs A Fox-Pitt

REGISTERED OFFICE:

Wood Lane Stables Wood Lane

Hinton St. Mary

Sturminster Newton

Dorset

DT10 1NB

REGISTERED NUMBER:

OC384377 (England and Wales)

ACCOUNTANTS:

William Hinton Limited

Chartered Accountants

Ross House

The Square

Stow On The Wold

Gloucestershire

GL54 1AF

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

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of Eventing Services.

DESIGNATED MEMBERS

The designated members during the year under review were:

W S L Fox-Pitt

Mrs A Fox-Pitt

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The loss for the year before members' remuneration and profit shares was £8,170 (2024 - £38,626 loss).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

W S L Fox-Pitt - Designated member

23 December 2025

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Fox-Pitt Eventing LLP for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet, Reconciliation of Members' Interests and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of Fox-Pitt Eventing LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fox-Pitt Eventing LLP and state those matters that we have agreed to state to the members of Fox-Pitt Eventing LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fox-Pitt Eventing LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Fox-Pitt Eventing LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Fox-Pitt Eventing LLP. You consider that Fox-Pitt Eventing LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Fox-Pitt Eventing LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

William Hinton Limited

Chartered Accountants

Ross House

The Square

Stow On The Wold

Gloucestershire

GL54 1AF

Date: .............................................

TURNOVER

421,643

422,259

Cost of sales

161,408

127,037

GROSS PROFIT

260,235

295,222

Administrative expenses

267,633

333,848

OPERATING LOSS

4

(7,398

)

(38,626

)

Interest payable and similar expenses

772

-

LOSS FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS

(8,170

)

(38,626

)

FIXED ASSETS

Tangible assets

5

1,305,599

1,249,609

CURRENT ASSETS

Debtors

6

83,490

68,190

Cash at bank and in hand

59,326

20,391

142,816

88,581

CREDITORS

Amounts falling due within one year

7

93,475

38,643

NET CURRENT ASSETS

49,341

49,938

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,354,940

1,299,547

CREDITORS

Amounts falling due after more than one
year

8

41,925

-

NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,313,015

1,299,547

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

1,313,015

1,299,547

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

1,313,015

1,299,547

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 in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 23 December 2025 and were signed by:

W S L Fox-Pitt - Designated member

EQUITY

DEBT

TOTAL

Members'

Loans and other debts due to

MEMBERS'

other

members less any amounts due

INTERESTS

interests

from members in debtors

Other

reserves

amounts

Total

£

Amount due to members

1,299,547

Amount due from members

-

Balance at 1 April 2024

-

1,299,547

Loss for the financial year available
for discretionary division among
members

(8,170

)

-

(8,170

)

Members' interests after loss for the
year

(8,170

)

1,299,547

1,291,377

Other divisions of loss

8,170

(8,170

)

-

Introduced by members

-

147,025

Drawings on account and
distributions of profit

-

(125,387

)

(125,387

)

Amount due to members

1,313,015

Amount due from members

-

Balance at 31 March 2025

-

1,313,015

EQUITY

DEBT

TOTAL

Members'

Loans and other debts due to

MEMBERS'

other

members less any amounts due

INTERESTS

interests

from members in debtors

Other

reserves

amounts

Total

£

Amount due to members

1,336,338

Amount due from members

-

Balance at 1 April 2023

-

1,336,338

Loss for the financial year available
for discretionary division among
members

(38,626

)

-

(38,626

)

Members' interests after loss for the
year

(38,626

)

1,336,338

1,297,712

Other divisions of loss

38,626

(38,626

)

-

Introduced by members

-

95,537

Drawings on account and
distributions of profit

-

(93,702

)

(93,702

)

Amount due to members

1,299,547

Amount due from members

-

Balance at 31 March 2024

-

1,299,547

1.	STATUTORY INFORMATION

Fox-Pitt Eventing 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.

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% per annum on cost

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.

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 6 (2024 - 7 ) .

4.	OPERATING LOSS

The operating loss is stated after charging:

2025

2024

£

Depreciation - owned assets

23,157

8,557

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 April 2024

1,218,630

133,154

1,351,784

Additions

-

79,150

Disposals

-

(19,503

)

(19,503

)

At 31 March 2025

1,218,630

192,801

1,411,431

DEPRECIATION

At 1 April 2024

-

102,175

Charge for year

-

23,157

Eliminated on disposal

-

(19,500

)

(19,500

)

At 31 March 2025

-

105,832

NET BOOK VALUE

At 31 March 2025

1,218,630

86,969

1,305,599

At 31 March 2024

1,218,630

30,979

1,249,609

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

Plant and

machinery

etc

£

COST

At 1 April 2024

19,500

Disposals

(19,500

)

At 31 March 2025

-

DEPRECIATION

At 1 April 2024

19,500

Eliminated on disposal

(19,500

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

33,490

12,190

Other debtors

50,000

56,000

83,490

68,190

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

5,775

6

Hire purchase contracts

11,180

-

Trade creditors

7,461

5,341

Taxation and social security

4,509

15,146

Other creditors

64,550

18,150

93,475

38,643

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Hire purchase contracts

41,925

-

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up.

There is no provision for specific legally enforceable protection afforded to creditors in such an event.

There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members' other interests'.