Lukmore LLP

(Registration number: OC398395)
Balance Sheet as at 31 March 2025

The financial statements of Lukmore LLP (registered number OC398395) were approved by the Board and authorised for issue on 23 December 2025. They were signed on behalf of the limited liability partnership by:

H R Prater Designated member

L G Barnes Designated member

Lukmore LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

1	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of Lukmore LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Going concern

The members are not aware of any material uncertainties that may cast significant doubt over the ability of the LLP to continue trading, therefore they have adopted the going concern basis of accounting.

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.

The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Lukmore LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

2	Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 3 (2024 - 3).

Lukmore LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

3

Stocks

	2025 £	2024 £
Stock of land	1,127,926	1,127,926
Work in progress	2,684,505	2,643,893
	3,812,431	3,771,819

4	Creditors: Amounts falling due within one year

	2025 £	2024 £
Bank loans and overdrafts	955,560	725,000
Other creditors	1,259,034	1,414,034
Accruals and deferred income	6,652	6,553
	2,221,246	2,145,587

Creditors amounts falling due within one year includes the following liabilities, on which security has been given by the limited liability partnership:

	2025 £	2024 £
Bank loan and overdrafts	955,560	725,000

Bank loans and overdrafts are secured by way of a fixed charge over land stocks.

5	Creditors: Amounts falling due after more than one year

	2025 £	2024 £
Other creditors	800,000	800,000

6

Control

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.