The Underdog Agency LLP

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: OC349151

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		4,039		20,929

			4,039		20,929
CURRENT ASSETS
Debtors	5	193,490		74,400
Cash at bank and in hand		750		11,578

		194,240		85,978
Creditors: Amounts Falling Due Within One Year	6	(361,428 )		(216,380 )

NET CURRENT ASSETS (LIABILITIES)			(167,188 )		(130,402 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(163,149 )		(109,473 )

NET LIABILITIES ATTRIBUTABLE TO MEMBERS			(163,149 )		(109,473 )

REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts		4,701		-

			4,701		-

Equity
Members' other interests
Members' capital		(131,378)		(73,001)
Other reserves		(36,472)		(36,472)

			(167,850)		(109,473)

			(163,149)		(109,473)

TOTAL MEMBERS' INTEREST
Amounts due from members			(26,925)		(26,925)
Loans and other debts due to members within one year			4,701		-
Members' other interests			(167,850)		(109,473)

			(190,074)		(136,398)

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The Underdog Agency LLP

Balance Sheet (continued)

As At 5 April 2025

For the year ending 5 April 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 Simon Corbett

Designated Member

5 January 2026

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

The Underdog Agency LLP is a limited liability partnership, incorporated in England & Wales, registered number OC349151 . The Registered Office is Tithe Barn, Chequers Lane, Eversley Cross, Hook, Hampshire, RG27 0NR.

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:

Leasehold	SL over term of lease
Fixtures & Fittings	SL over 4 years
Computer Equipment	SL over 4 years

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: 2 (2024: 2)

4. Tangible Assets

	Land & Property
	Leasehold	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 6 April 2024	159,646	28,575	48,273	236,494

As at 5 April 2025	159,646	28,575	48,273	236,494

Depreciation
As at 6 April 2024	153,666	24,540	37,359	215,565
Provided during the period	5,980	4,035	6,875	16,890

As at 5 April 2025	159,646	28,575	44,234	232,455

Net Book Value
As at 5 April 2025	-	-	4,039	4,039

As at 6 April 2024	5,980	4,035	10,914	20,929

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The Underdog Agency LLP

Notes to the Financial Statements (continued)

For The Year Ended 5 April 2025

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	2,700	900
Amounts owed by participating interests	157,863	39,685
Other debtors	32,927	33,815

	193,490	74,400

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	2,680	17,023
Bank loans and overdrafts	39,514	-
Amounts owed to participating interests	230,000	100,000
Other creditors	2,000	11,000
Taxation and social security	87,234	88,357

	361,428	216,380

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