Owen Clarke Design LLP

Balance Sheet

31 March 2025

The financial statements of Owen Clarke Design LLP (registered number OC301507) were approved by the members and authorised for issue on 24 December 2025. They were signed on behalf of the limited liability partnership by:

......................................... Mr A Clarke Designated member

Owen Clarke Design LLP

Notes to the Financial Statements

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 incorporating Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006 and in accordance with the Statement of Recommended Practice 'Accounting for Limited Liability Partnerships' issued in January 2017.

General information and basis of accounting

The limited liability partnership is incorporated in under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.

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 Owen Clarke Design 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 partners have prepared the financial statements on a going concern basis, on the understanding that they will continue to provide financial support if it is required and, accordingly, the financial statements do not include any adjustments that would result if this support were not forthcoming.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Members' remuneration and division of profits

Profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in nature liabilities. They are therefore treated as an expense in the profit and loss account in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the balance sheet.

All amounts due to members that are classified as liabilities are presented in the balance sheet within ‘Loans and other debts due to members’ and are charged to the profit and loss account within ‘Members remuneration charged as an expense’. Amounts due to members that are classified as equity are shown in the balance sheet within ‘Members other interests’.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any residual value, over their expected useful life as shown below:

Owen Clarke Design LLP

Notes to the Financial Statements

Year Ended 31 March 2025

Asset class	Amortisation method and rate
Computer Software	20% straight line basis

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% straight line basis

Financial instruments

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities,when the company's obligations are discharged, expire or are cancelled.

The LLP holds the following financial instruments:

Basic financial assets comprise short term trade and other debtors and cash and bank balances.

Basic financial liabilities comprise short term trade and other creditors.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

2	Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 0 (2024 - 0).

Owen Clarke Design LLP

Notes to the Financial Statements

Year Ended 31 March 2025

3	Intangible fixed assets

	Software £	Total £
Cost
At 1 April 2024	2,420	2,420
At 31 March 2025	2,420	2,420
Amortisation
At 1 April 2024	1,291	1,291
Charge for the year	484	484
At 31 March 2025	1,775	1,775
Net book value
At 31 March 2025	645	645
At 31 March 2024	1,129	1,129

4	Tangible fixed assets

	Fixtures and fittings  £	Total £
Cost
At 1 April 2024	8,701	8,701
At 31 March 2025	8,701	8,701
Depreciation
At 1 April 2024	8,461	8,461
Charge for the year	227	227
At 31 March 2025	8,688	8,688
Net book value
At 31 March 2025	13	13
At 31 March 2024	240	240

Owen Clarke Design LLP

Notes to the Financial Statements

Year Ended 31 March 2025

5

Debtors

	2025 £	2024 £
Trade debtors	3,985	15,518
Other debtors	51,445	39,065
Prepayments and accrued income	4,774	1,972
Total current trade and other debtors	60,204	56,555

6	Creditors: Amounts falling due within one year

	31 March 2025  £	31 March 2024  £
Trade creditors	4,303	-
Taxation and social security	112	-
Other creditors	711	1,051
Accruals and deferred income	32,352	29,714
	37,478	30,765