ACCOUNTS - Final Accounts preparation

Registered number: OC305460

HORNERS LLP

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

HORNERS LLP

REGISTERED NUMBER: OC305460

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	5		98,945		103,846
			98,945		103,846
Current assets
Debtors: amounts falling due within one year	6	47,347		32,265
Cash at bank and in hand	7	252,413		292,500
		299,760		324,765
Creditors: Amounts Falling Due Within One Year	8	(233,818)		(197,441)
Net current assets			65,942		127,324
Total assets less current liabilities			164,887		231,170

Net assets			164,887		231,170


Represented by:
Loans and other debts due to members within one year	164,887	231,170
	164,887	231,170

	164,887	231,170

Total members' interests
Loans and other debts due to members	164,887	231,170
	164,887	231,170

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HORNERS LLP

REGISTERED NUMBER: OC305460

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 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 income statement 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:

C E Horner-Glister

Designated member

Date: 23 December 2025

The notes on pages 3 to 8 form part of these financial statements.

Horners 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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HORNERS LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Horners LLP is a limited liability partnership incorporated in England within the United Kingdom
The address of the registered office is North Walsham Sale Rooms, Midland Road, North Walsham, Norfolk NR28 9JR.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the LLP has transferred the significant risks and rewards of ownership to the buyer;

∙the LLP retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

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

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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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HORNERS LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.3

Operating leases: the LLP as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.4

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .

2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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HORNERS LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.6

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a straight line and a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property	-	2%	Reducing balance
Long-term leasehold property	-	2%	Straight line
Motor vehicles	-	25%	Reducing balance
Fixtures and fittings	-	25%	Reducing balance
Office equipment	-	25%	Reducing balance
Computer equipment	-	33%	Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

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.

2.8

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.

2.9

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 average monthly number of employees, including directors, during the year was 10 (2024 - 10).

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HORNERS LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.	Intangible assets

		Goodwill
		£
	Cost
	At 1 April 2024	11,000
	At 31 March 2025	11,000
	Amortisation
	At 1 April 2024	11,000
	At 31 March 2025	11,000
	Net book value
	At 31 March 2025	-
	At 31 March 2024	-

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		HORNERS LLP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

	5.	Tangible fixed assets

	Freehold property	Property improvements	Motor vehicles	Fixtures and fittings	Office equipment	Computer equipment	Total
	£	£	£	£	£	£	£
Cost or valuation
At 1 April 2024	17,632	104,826	19,978	22,450	3,575	26,022	194,483
Additions	-	-	-	-	-	3,056	3,056
At 31 March 2025	17,632	104,826	19,978	22,450	3,575	29,078	197,539
Depreciation
At 1 April 2024	7,377	25,384	11,480	20,746	2,675	22,975	90,637
Charge for the year on owned assets	205	2,096	2,125	426	225	2,880	7,957
At 31 March 2025	7,582	27,480	13,605	21,172	2,900	25,855	98,594
Net book value
At 31 March 2025	10,050	77,346	6,373	1,278	675	3,223	98,945
At 31 March 2024	10,255	79,442	8,498	1,704	900	3,047	103,846

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HORNERS LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Debtors

					2025	2024
					£	£


Trade debtors	32,109	27,876
Other debtors	10,207	-
Prepayments and accrued income	5,031	4,389
	47,347	32,265

7.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	252,413	292,500
	252,413	292,500

8.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	206,351	186,812
Other taxation and social security	25,175	8,409
Other creditors	292	-
Accruals and deferred income	2,000	2,220
	233,818	197,441

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