REGISTERED NUMBER: OC416583 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

FAWCETTS LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

T Austreng

S J L Ellingham

N D Jones

J R Hayes

Miss G Thomas

M C Smith

REGISTERED OFFICE:

Windover House

St. Ann Street

Salisbury

SP1 2DR

REGISTERED NUMBER:

OC416583 (England and Wales)

FIXED ASSETS

Intangible assets

4

700,000

600,000

Tangible assets

5

12,328

-

712,328

600,000

CURRENT ASSETS

Stocks

272,000

232,039

Debtors

6

946,381

841,906

Cash at bank

-

29,613

1,218,381

1,103,558

CREDITORS

Amounts falling due within one year

7

639,453

428,636

NET CURRENT ASSETS

578,928

674,922

TOTAL ASSETS LESS CURRENT LIABILITIES

1,291,256

1,274,922

CREDITORS

Amounts falling due after more than one year

8

85,935

148,766

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,205,321

1,126,156

LOANS AND OTHER DEBTS DUE TO MEMBERS

505,321

526,156

MEMBERS' OTHER INTERESTS

Capital accounts

700,000

600,000

1,205,321

1,126,156

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

505,321

526,156

Members' other interests

700,000

600,000

1,205,321

1,126,156

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 22 December 2025 and were signed by:

N D Jones - Designated member

1.	STATUTORY INFORMATION

Fawcetts 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.

The financial statements have been prepared on a going concern basis and are presented in Sterling (£) which is the functional currency of the LLP.

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

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.

Furniture and equipment

-

33% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

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 51 (2024 - 50 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST OR VALUATION

At 1 April 2024

600,000

Revaluations

100,000

At 31 March 2025

700,000

NET BOOK VALUE

At 31 March 2025

700,000

At 31 March 2024

600,000

Cost or valuation at 31 March 2025 is represented by:

Goodwill

£

Valuation in 2025

100,000

Cost

600,000

700,000

5.	TANGIBLE FIXED ASSETS

Furniture

and

equipment

£

COST

At 1 April 2024

64,140

Additions

13,698

At 31 March 2025

77,838

DEPRECIATION

At 1 April 2024

64,140

Charge for year

1,370

At 31 March 2025

65,510

NET BOOK VALUE

At 31 March 2025

12,328

At 31 March 2024

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

806,296

750,557

Other debtors

140,085

91,349

946,381

841,906

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

114,994

-

Trade creditors

111,865

113,232

Taxation and social security

185,744

195,084

Other creditors

226,850

120,320

639,453

428,636

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

85,935

148,766