REGISTERED NUMBER: OC372211 (England and Wales)

Unaudited Financial Statements

for the Period 1 January 2024 to 31 March 2025

for

Shipton & Co. Direct LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

The Lord May

J.P. Daly

REGISTERED OFFICE:

27 - 33 Spencer Street

Hockley

Birmingham

West Midlands

B18 6DL

REGISTERED NUMBER:

OC372211 (England and Wales)

ACCOUNTANTS:

James, Stanley & Co. Limited

1,733 Coventry Road

South Yardley

Birmingham

West Midlands

B26 1DT

CURRENT ASSETS

Debtors

6

98,762

198,604

Cash at bank

60,357

244,063

159,119

442,667

CREDITORS

Amounts falling due within one year

7

297,196

358,921

NET CURRENT (LIABILITIES)/ASSETS

(138,077

)

83,746

TOTAL ASSETS LESS CURRENT LIABILITIES

(138,077

)

83,746

CREDITORS

Amounts falling due after more than one year

8

248,677

277,628

NET LIABILITIES ATTRIBUTABLE TO MEMBERS

(386,754

)

(193,882

)

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

188,547

188,547

MEMBERS' OTHER INTERESTS

Other reserves

(575,301

)

(382,429

)

(386,754

)

(193,882

)

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

188,547

188,547

Members' other interests

(575,301

)

(382,429

)

(386,754

)

(193,882

)

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 period 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 23 December 2025 and were signed by:

The Lord May - Designated member

1.	STATUTORY INFORMATION

Shipton & Co. Direct LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

At the balance sheet date the company had net current liabilities of £138,077. The members consider that the partnership will continue to operate within its facilities given the continued financial support of its group undertakings. On that basis, the members consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of this financial support.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Website costs are initially measured at cost. After initial recognition, website assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website costs had been fully amortised prior to their reclassification as intangible assets.

Divisible profits and members' remuneration

Members' share of profits and losses 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 equity reserves or deficit.

Accounting period

The company has extended its financial year-end therefore these financial statements are for a duration of fifteen months. Consequently, the results for the current period are not directly comparable with those of the previous year which covered twelve months.

4.	EMPLOYEE INFORMATION

The average number of employees during the period was NIL (2023 - NIL).

5.	INTANGIBLE FIXED ASSETS

Website

costs

£

COST

At 1 January 2024

and 31 March 2025

4,767

AMORTISATION

At 1 January 2024

and 31 March 2025

4,767

NET BOOK VALUE

At 31 March 2025

-

At 31 December 2023

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.12.23

£

£

Trade debtors

30,558

17,733

Amounts owed by group undertakings

10,286

11,466

Other debtors

90

1,286

Prepayments and accrued income

57,828

168,119

98,762

198,604

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.12.23

£

£

Bank loans and overdrafts

21,367

20,265

Trade creditors

68,522

161,685

Amounts owed to group undertakings

152,765

96,575

Social security and other taxes

49,547

74,180

Accruals and deferred income

4,995

6,216

297,196

358,921

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.12.23

£

£

Bank loans - 2-5 years

98,184

98,184

Bank loans more 5 yr by instal

150,493

179,444

248,677

277,628

31.3.25

31.12.23

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

150,493

179,444

9.	SECURED DEBTS

As security for the bank borrowings, TSB Bank plc hold fixed and floating mortgage charges dated 4 November 2019 against 21 Lake Road, Keswick and 47/49 Bank Street, Newquay, both properties being owned by a group undertaking.

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu with unsecured creditors. The legal opinion given in the appendix to the SORP 'Accounting for Limited Liability Partnerships' is that members' other interests rank after unsecured creditors.

11.	CAPITAL COMMITMENTS

31.3.25

31.12.23

£

£

Contracted but not provided for in the

financial statements

-

-