For the financial year ended 31 March 2025 the limited liability partnership 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 relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act as applied to limited liability partnerships with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

These financial statements summaries the transactions for 2024/25 financial year and the financial position as at 31st March 2025.

The financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A small entities. There are no material departures from the standard.

The financial statements do not include a Cash flow Statement as DPFP LLP as a small reporting entity, is exempt from the requirement to prepare such a statement under FRS 102 Section 1A.

Assets are valued as they become operational and revalued regularly thereafter to ensure the carrying amount is not materially different, as a minimum every five years. Due to the specialist nature of the assets and restrictions on their use, depreciated replacement cost (DRC) is used as an estimate of current value. To ensure the carrying value of assets included in the accounts is not materially different to the market value a summarised review was conducted in the current year by an independent valuer.

Fixed Assets are included at DRC less depreciation and impairment; no charge is made for depreciation in the first year but full charge in the final year. Depreciation is calculated to write off the cost of fixed assets over their expected useful lives as estimated by the valuer.

The average number of persons (excluding members) employed by the partnership during the year was:

*Gross amounts following revaluation in 2021/22.

The amounts due to members at the end of 2025 were £33,764,787 (2024: £32,432,356)