ACCOUNTS - Final Accounts

LOANS AND OTHER DEBTS DUE TO MEMBERS

Registered number: OC427909

MILES LEWIS LLP

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

MILES LEWIS LLP

REGISTERED NUMBER: OC427909

BALANCE SHEET

AS AT 5 APRIL 2025

		2025		2024
Note		£		£


CURRENT ASSETS
Debtors: amounts falling due within one year	4	47,074		35,600
Cash at bank and in hand	5	39,668		61,704
		86,742		97,304
Creditors: Amounts Falling Due Within One Year	6	(3,737)		(5,279)
NET CURRENT ASSETS			83,005		92,025

NET ASSETS			83,005		92,025

REPRESENTED BY:
LOANS AND OTHER DEBTS DUE TO MEMBERS WITHIN ONE YEAR
Other amounts	7	83,005	92,025

Loans and other debts due to members	83,005	92,025
	83,005	92,025

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MILES LEWIS LLP

REGISTERED NUMBER: OC427909

BALANCE SHEET (CONTINUED)

AS AT 5 APRIL 2025

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf by:

Mrs Y Lewis	Mr M E Lewis
Designated member	Designated member

Date: 23 December 2025	Date:23 December 2025

The notes on pages 3 to 5 form part of these financial statements.

Miles Lewis LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

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MILES LEWIS LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

1.	GENERAL INFORMATION

Miles Lewis LLP, (OC427909), is a private limited liability partnership, limited by guarantee, incorporated in England and Wales, with is registered office and principal place of business at Holy Land, Threapwood, Malpas, Cheshire, SY14 7AL.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liabilities Partnerships'. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

GOING CONCERN

After making enquires, the Partners have a reasonable expectation that the LLP has adequate
resources to continue in operational existence for the foreseeable future. The LLP therefore
continues to adopt the going concern basis in preparing its financial statements.

2.3

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the LLP will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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MILES LEWIS LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.4

RESEARCH AND DEVELOPMENT

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

2.5

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

EMPLOYEES

The entity has no employees.

DEBTORS

					2025	2024
					£	£


Trade debtors	45,050	33,250
Prepayments and accrued income	2,024	2,350
	47,074	35,600

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MILES LEWIS LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

5.	CASH AND CASH EQUIVALENTS
		2025	2024
		£	£

Cash at bank and in hand	39,668	61,704
	39,668	61,704

6.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2025	2024
		£	£

Trade creditors	31	32
Other taxation and social security	1,511	3,146
Accruals and deferred income	2,195	2,101
	3,737	5,279


Other amounts due to members	83,005	92,025
	83,005	92,025

Loans and other debts due to members may be further analysed as follows:

					2025	2024
					£	£


Falling due within one year	83,005	92,025
	83,005	92,025

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

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