Select Watson LLP

	Page
Balance Sheet	1—2
Reconciliation of Members' Interests	3—4
Notes to the Financial Statements	4—5

Registered number: OC390021

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		1,667		184
Investment Properties	5		291,161		291,161

			292,828		291,345
CURRENT ASSETS
Debtors	6	27,345		17,569
Cash at bank and in hand		28,031		36,402

		55,376		53,971
Creditors: Amounts Falling Due Within One Year	7	(5,140 )		(5,139 )

NET CURRENT ASSETS (LIABILITIES)			50,236		48,832

TOTAL ASSETS LESS CURRENT LIABILITIES			343,064		340,177

NET ASSETS ATTRIBUTABLE TO MEMBERS			343,064		340,177

REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts		103,064		100,177

			103,064		100,177

Equity
Members' other interests
Members' capital		240,000		240,000

			240,000		240,000

			343,064		340,177

TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year			103,064		100,177
Members' other interests			240,000		240,000

			343,064		340,177

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Select Watson LLP

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the LLP 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 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

On behalf of the members

Mr Derek Watson

Designated Member

31st December 2025

The notes on pages 4 to 5 form part of these financial statements.

	EQUITY			DEBT
	Members' other interests			Loans and other debts due to members less any amounts due from members in debtors
	Members'Capital classified as Equity	Other Reserves	Total Equity	Other amounts	Total members' interest
	£	£	£	£	£
Amounts due to members	-	-	-	86,475	-

Balance at 1 April 2023	240,000	-	240,000	86,475	326,475
Profit/(loss) for the financial year available for discretionary division among members	-	174,702	174,702	-	174,702

Members' interests after profit/(loss) for the year	240,000	174,702	414,702	86,475	501,177
Other divisions of profits (losses)	-	(174,702)	(174,702)	174,702	-
Drawings	-	-	-	(161,000)	(161,000)

Amounts due to members	-	-	-	100,177	-

As at 31 March 2024 and 1 April 2024	240,000	-	240,000	100,177	340,177


Profit/(loss) for the financial year available for discretionary division among members	-	176,887	176,887	-	176,887

Members' interests after profit/(loss) for the year	240,000	176,887	416,887	100,177	517,064
Other divisions of profits (losses)	-	(176,887)	(176,887)	176,887	-
Drawings	-	-	-	(174,000)	(174,000)

Amounts due to members	-	-	-	103,064	-

As at 31 March 2025	240,000	-	240,000	103,064	343,064

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Select Watson LLP

Notes to the Financial Statements

For The Year Ended 31 March 2025

1. General Information

Select Watson LLP is a limited liability partnership, incorporated in England & Wales, registered number OC390021 . The Registered Office is Select House, 100 Sefton Lane, Liverpool, Merseyside, L31 8BT.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% on cost
Computer Equipment	25% on cost

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: NIL (2024: NIL)

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Select Watson LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Tangible Assets

	Plant & Machinery	Computer Equipment	Total
	£	£	£
Cost
As at 1 April 2024	5,316	369	5,685
Additions	-	2,100	2,100

As at 31 March 2025	5,316	2,469	7,785

Depreciation
As at 1 April 2024	5,316	185	5,501
Provided during the period	-	617	617

As at 31 March 2025	5,316	802	6,118

Net Book Value
As at 31 March 2025	-	1,667	1,667

As at 1 April 2024	-	184	184

5. Investment Property

	2025
	£
Fair Value
As at 1 April 2024 and 31 March 2025	291,161

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	25,338	15,604
Other debtors	2,007	1,965

	27,345	17,569

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	-	(1 )
Accruals and deferred income	5,140	5,140

	5,140	5,139

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