Simpson & Brown LLP Filleted accounts for Companies House (small and micro)

REGISTERED NUMBER: SO307660

Simpson & Brown LLP

Filleted Unaudited Financial Statements

For the period ended

31 March 2025

Simpson & Brown LLP

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		74,865	57,359

Current assets

Debtors	6	702,164	1,290,189
Cash at bank and in hand		108,225	35
		---------	------------
		810,389	1,290,224

Creditors: amounts falling due within one year	7	449,664		787,392
		---------		------------
Net current assets			360,725	502,832
			---------	---------
Total assets less current liabilities			435,590	560,191

Creditors: amounts falling due after more than one year	8	1,837	33,842
		---------	---------
Net assets		433,753	526,349
		---------	---------

Represented by:

Loans and other debts due to members

Other amounts	9		237,753	330,349

Members' other interests

Members' capital classified as equity	196,000	196,000
Other reserves	–	–
	---------	---------
	433,753	526,349
	---------	---------

Total members' interests

Loans and other debts due to members	9	237,753	330,349
Members' other interests		196,000	196,000
		---------	---------
		433,753	526,349
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.

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) relating to small LLPs.

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 financial statements .

Simpson & Brown LLP

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the members and authorised for issue on 19 December 2025 , and are signed on their behalf by:

T Addyman	A J Davey
Designated Member	Designated Member

J M Humphreys	E Lawson
Designated Member	Designated Member

S Lindsay	J Sanders
Designated Member	Designated Member

S Whittle
Designated Member

Registered number: SO307660

Simpson & Brown LLP

Notes to the Financial Statements

Year ended 31 March 2025

1.	General information

Simpson & Brown LLP (“the LLP”) is a limited liability partnership registered in Scotland. The Registered Office is The Old Printworks, 77a Brunswick Street, Edinburgh, Scotland, EH7 5HS.

2.	Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2018 (SORP 2018).

3.	Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Amounts recoverable under contracts

Amounts recoverable under contracts represent work done at the year end where a continuing right to receive income exists and is valued at the estimated amount recoverable in excess of fees already rendered on account.

Going concern

The financial statements have been prepared on a going concern basis. The members have assessed the partnership's ability to continue as a going concern and have reasonable expectation that the partnership has adequate resources to continue in operational existence the foreseeable future. On this basis they continue to adopt the going concern basis of accounting in preparing these financial statements.

Revenue recognition

Turnover, which excludes value added tax, represents the invoiced value of services supplied from ordinary activities as adjusted for amounts recoverable under contracts. Amounts recoverable under contracts is recognised by reference to the stage of completion at the balance sheet date.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	20% straight line
Fixtures and fittings	-	7%, 8% and 20% Straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Construction contracts

Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end. Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred. The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial assets, which include trade receivables and cash at bank, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Basic financial liabilities, which include other payables and taxes due, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. At each reporting date the company assesses whether there is objective evidence that any financial asset has been impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due. The amount of the provision is recognised immediately in profit or loss.

4.	Employee numbers

The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 26 (2024: 26 ).

5.	Tangible assets

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost
At 1 April 2024	37,819	39,216	77,035
Additions	29,481	–	29,481
	--------	--------	---------
At 31 March 2025	67,300	39,216	106,516
	--------	--------	---------
Depreciation
At 1 April 2024	13,549	6,127	19,676
Charge for the year	7,073	4,902	11,975
	--------	--------	---------
At 31 March 2025	20,622	11,029	31,651
	--------	--------	---------
Carrying amount
At 31 March 2025	46,678	28,187	74,865
	--------	--------	---------
At 31 March 2024	24,270	33,089	57,359
	--------	--------	---------

6.	Debtors

	2025	2024
	£	£
Trade debtors	626,364	1,157,106
Other debtors	75,800	133,083
	---------	------------
	702,164	1,290,189
	---------	------------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	45,698	72,532
Trade creditors	254,739	438,216
Social security and other taxes	72,153	108,299
Other creditors	77,074	168,345
	---------	---------
	449,664	787,392
	---------	---------

The bank loans and overdrafts are secured against the assets of the LLP by a floating charge granted in favour of The National Westminster Bank plc.

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	1,837	33,842
	-------	--------

9.	Loans and other debts due to members

	2025	2024
	£	£
Amounts owed to members in respect of profits	237,753	330,349
	---------	---------