House of Mutt LLP - Filleted accounts

Registered number

OC382909

House of Mutt LLP

Amended

Filleted Accounts

31 March 2025

House of Mutt LLP
Registered number:		OC382909
Balance Sheet
as at 31 March 2025				Amended
Notes		2025		2024
£			£
Fixed assets
Intangible assets	3	300		300
Tangible assets	4	115,385		123,029
		115,685		123,329
Current assets
Stocks		14,000		14,571
Debtors	5	14,834		7,912
Cash at bank and in hand		117,827		67,695
		146,661		90,178

Creditors: amounts falling due within one year	6	(137,285)		(119,519)

Net current assets/(liabilities)		9,376		(29,341)

Total assets less current liabilities		125,061		93,988

Creditors: amounts falling due after more than one year	7	(43,157)		(45,459)


Net assets attributable to members		81,904		48,529

Represented by:
Loans and other debts due to members	8	80,904		47,529

Members' other interests
Members' capital classified as equity		1,000		1,000

		81,904		48,529

Total members' interests
Loans and other debts due to members	8	80,904		47,529
Members' other interests		1,000		1,000

		81,904		48,529

For the year ended 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts have been amended to show an amendment to the balance sheet with no overall change in Total members' interests
These accounts were approved by the members on 16 December 2025 and signed on their behalf by:


Mr D Mountford
Designated member

House of Mutt LLP
Notes to the Accounts
for the year ended 31 March 2025

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Division of profits
	Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.

	Taxation
	Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:


	Property improvements			over 10 years
	Plant and machinery & motor vehicles			25% reducing balance
	Fixtures, fittings, tools and equipment			over 10 years

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Members' capital
	Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the LLP's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the LLP					9		9


3	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 April 2024							300
	At 31 March 2025							300

	Amortisation
	At 31 March 2025							-

	Net book value
	At 31 March 2025							300
	At 31 March 2024							300




4	Tangible fixed assets
		Property improvements		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2024	81,298		56,710		128,281		266,289
	Additions	-		1,308		23,466		24,774
	Disposals	-		(2,357)		-		(2,357)
	At 31 March 2025	81,298		55,661		151,747		288,706

	Depreciation
	At 1 April 2024	22,750		34,465		86,045		143,260
	Charge for the year	8,130		5,505		16,426		30,061
	At 31 March 2025	30,880		39,970		102,471		173,321

	Net book value
	At 31 March 2025	50,418		15,691		49,276		115,385
	At 31 March 2024	58,548		22,245		42,236		123,029


5	Debtors					2025		2024
£							£

	Trade debtors					14,834		7,912


6	Creditors: amounts falling due within one year					2025		2024
£							£

	Obligations under finance lease and hire purchase contracts					2,511		2,511
	Trade creditors					6,083		21,401
	Other taxes and social security costs					45,159		21,476
	Other creditors					83,532		74,131
						137,285		119,519


7	Creditors: amounts falling due after one year					2025		2024
£							£

	Obligations under finance lease and hire purchase contracts					43,157		45,459


8	Loans and other debts due to members					2025		2024
£							£

	Loans from members					78,205		78,205
	Amounts due to members in respect of profits					2,699		(30,676)
						80,904		47,529

	Amounts falling due within one year					80,904		47,529

	Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.


9	Controlling party

	The LLP is controlled by Mr D & Mrs S Mountford by virtue of their majority share.


10	Other information

	House of Mutt LLP is a limited liability partnership incorporated in England. Its registered office is:
	Old Rectory
	Thetford Road
	Fakenham Magna
	Thetford Road
	IP24 2QX