REGISTERED NUMBER: OC348713 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Swindells LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mr I K Jenkins

Mrs M J Richardson

Mr R Willison

REGISTERED OFFICE:

Atlantic House

8 Bell Lane

Uckfield

East Sussex

TN22 1QL

REGISTERED NUMBER:

OC348713 (England and Wales)

ACCOUNTANTS:

Swindells LLP

Chartered Accountants

Atlantic House

8 Bell Lane

Bellbrook Industrial Estate

Uckfield

East Sussex

TN22 1QL

FIXED ASSETS

Intangible assets

4

1,500,000

1,500,000

Tangible assets

5

56,994

71,451

Investments

6

54,919

54,919

1,611,913

1,626,370

CURRENT ASSETS

Stocks

131,773

168,654

Debtors

7

885,895

796,818

Cash in hand

735

660

1,018,403

966,132

CREDITORS

Amounts falling due within one year

8

766,931

741,932

NET CURRENT ASSETS

251,472

224,200

TOTAL ASSETS LESS CURRENT LIABILITIES

1,863,385

1,850,570

CREDITORS

Amounts falling due after more than one year

9

(9,847

)

(27,275

)

ACCRUALS AND DEFERRED INCOME

(58,000

)

(58,000

)

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,795,538

1,765,295

LOANS AND OTHER DEBTS DUE TO MEMBERS

11

1,795,538

1,765,295

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

11

1,795,538

1,765,295

Amounts due from members

7

(405,943

)

(358,072

)

1,389,595

1,407,223

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 30 December 2025 and were signed by:

Mrs M J Richardson - Designated member

1.	STATUTORY INFORMATION

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

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.

Preparation of consolidated financial statements

The financial statements contain information about Swindells LLP as an individual LLP and do not contain consolidated financial information as the parent of a group. The LLP has taken the option under Section 398 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 not to prepare consolidated financial statements.

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 is not amortised, but is reviewed annually for impairment. While this is a departure from the requirements of FRS102 section 1A, the members consider that the amortisation is only one of the factors to be considered when evaluating the carrying value of goodwill and that other factors when taken into account, support the members' view that the market value of goodwill exceeds the value as stated in the accounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold properties

-

over the term of the lease

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks consist of marketing materials and are shown at the lower of cost and net realisable value.

Work in progress is shown at the lower of cost and net realisable value. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Hire purchase and leasing commitments

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

Members' remuneration

The LLP agreement provides that fixed amounts, determined for each member each year, be paid to the members, irrespective of the profits of the LLP. These amounts are included within members' remuneration charged to the profit and loss account.

A member's share of the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses are included within 'other reserves'.

Taxation

Taxation on profits of the LLP is the personal liability of the members and no provision for taxation has been made in these financial statements.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2024 - 31 ).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

1,506,612

AMORTISATION

At 1 April 2024

and 31 March 2025

6,612

NET BOOK VALUE

At 31 March 2025

1,500,000

At 31 March 2024

1,500,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

and

Computer

properties

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2024

107,108

119,777

210,911

437,796

Additions

-

-

4,700

4,700

At 31 March 2025

107,108

119,777

215,611

442,496

DEPRECIATION

At 1 April 2024

92,395

95,137

178,813

366,345

Charge for year

5,000

3,734

10,423

19,157

At 31 March 2025

97,395

98,871

189,236

385,502

NET BOOK VALUE

At 31 March 2025

9,713

20,906

26,375

56,994

At 31 March 2024

14,713

24,640

32,098

71,451

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

54,919

NET BOOK VALUE

At 31 March 2025

54,919

At 31 March 2024

54,919

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

370,064

333,409

Other debtors

515,831

463,409

885,895

796,818

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

146,855

196,202

Hire purchase contracts

7,516

10,055

Trade creditors

111,204

92,064

Taxation and social security

39,095

175,947

Other creditors

462,261

267,664

766,931

741,932

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

4,495

14,495

Hire purchase contracts

5,352

12,780

9,847

27,275

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

136,855

186,202

Bank loans

14,495

24,495

Hire purchase contracts

12,868

22,835

164,218

233,532

Bank borrowings are secured by way of a fixed and floating charge over the assets of the LLP, together with personal guarantees from each of the members limited to £35,000 each.

Loans made under hire purchase agreements are secured on the asset concerned.

11.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members outstanding at the year end would rank equally with unsecured creditors in the event of a winding up.

12.	RELATED PARTY DISCLOSURES

At the balance sheet date the LLP owed amounts totalling £149,292 (2024 - £83,775) to its subsidiary company. This balance is interest free, unsecured and repayable on demand.