REGISTERED NUMBER: OC311861 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

SEPHTON & COMPANY LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

S D Connell

D P Carter

REGISTERED OFFICE:

Marston House

Elmdon Lane

Marston Green

West Midlands

B37 7DL

REGISTERED NUMBER:

OC311861 (England and Wales)

ACCOUNTANTS:

Sephton & Company LLP

Chartered Certified Accountants

Marston House

5 Elmdon Lane

Marston Green

Solihull

West Midlands

B37 7DL

FIXED ASSETS

Tangible assets

4

37,008

72,563

CURRENT ASSETS

Stocks

83,538

85,288

Debtors

5

332,399

319,098

Cash at bank

256,882

190,601

672,819

594,987

CREDITORS

Amounts falling due within one year

6

270,965

212,310

NET CURRENT ASSETS

401,854

382,677

TOTAL ASSETS LESS CURRENT LIABILITIES

438,862

455,240

CREDITORS

Amounts falling due after more than one year

7

137,000

153,276

NET ASSETS ATTRIBUTABLE TO MEMBERS

301,862

301,964

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

301,862

301,964

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

301,862

301,964

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 year 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:

S D Connell - Designated member

1.	STATUTORY INFORMATION

Sephton & Company 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised in the current year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

33% on cost and 20% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 27 (2024 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

227,948

Additions

11,723

Disposals

(73,171

)

At 31 March 2025

166,500

DEPRECIATION

At 1 April 2024

155,385

Charge for year

16,409

Eliminated on disposal

(42,302

)

At 31 March 2025

129,492

NET BOOK VALUE

At 31 March 2025

37,008

At 31 March 2024

72,563

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2024

105,516

Disposals

(73,171

)

At 31 March 2025

32,345

DEPRECIATION

At 1 April 2024

56,453

Charge for year

4,548

Eliminated on disposal

(42,302

)

At 31 March 2025

18,699

NET BOOK VALUE

At 31 March 2025

13,646

At 31 March 2024

49,063

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade debtors

240,369

228,568

Other debtors

92,030

90,530

332,399

319,098

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Hire purchase contracts

16,276

40,093

Trade creditors

33,655

29,103

Other creditors

221,034

143,114

270,965

212,310

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/25

31/3/24

£

£

Hire purchase contracts

-

16,276

Other creditors

137,000

137,000

137,000

153,276

8.	SECURED DEBTS

The other loan included in creditors are secured against the assets of the company.

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

31/3/25

31/3/24

£

£

Amounts owed to members in respect of profits

301,862

301,964

Falling due within one year

301,862

301,964

10.	OTHER FINANCIAL COMMITMENTS

As at the balance sheet date there were future financial commitments for operating leases amounting to £33,872 (2024 £13,880).