REGISTERED NUMBER: OC338237 (England and Wales)

UNDERWOOD VINECOMBE LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

4

DESIGNATED MEMBERS:

Mr M Vinecombe

Mr D N Furness

REGISTERED OFFICE:

Telford House

Outrams Wharf

Little Eaton

DERBY

DE21 5EL

REGISTERED NUMBER:

OC338237 (England and Wales)

ACCOUNTANTS:

Johnson Tidsall Limited

Chartered Accountants

81 Burton Road

Derby

Derbyshire

DE1 1TJ

FIXED ASSETS

Tangible assets

4

6,246

2,819

CURRENT ASSETS

Debtors

5

222,789

243,132

Cash at bank and in hand

154,834

131,914

377,623

375,046

CREDITORS

Amounts falling due within one year

6

178,400

147,379

NET CURRENT ASSETS

199,223

227,667

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

205,469

230,486

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

205,469

230,486

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

205,469

230,486

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 August 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 16 January 2026 and were signed by:

Mr M Vinecombe - Designated member

1.	STATUTORY INFORMATION

Underwood Vinecombe 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

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.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

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 FRS102 (Section 1A). A member's participation right results in a liability unless the right to any payment 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 Profit and Loss Account in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the Balance Sheet.

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 Profit and Loss Account and are equity appropriations in the Balance Sheet.

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 LLPs has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the Balance Sheet within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Balance Sheet within 'Members' other interests'.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 20 (2024 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 September 2024

17,227

68,866

86,093

Additions

-

5,242

5,242

At 31 August 2025

17,227

74,108

91,335

DEPRECIATION

At 1 September 2024

16,408

66,866

83,274

Charge for year

201

1,614

1,815

At 31 August 2025

16,609

68,480

85,089

NET BOOK VALUE

At 31 August 2025

618

5,628

6,246

At 31 August 2024

819

2,000

2,819

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

202,010

221,222

Prepayments and accrued income

20,779

21,910

222,789

243,132

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

346

1,372

Social security and other taxes

31,327

30,106

VAT

122,430

101,806

Other creditors

16,207

6,255

Accruals and deferred income

8,090

7,840

178,400

147,379

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of the LLP being wound up, and a surplus sum remains at the conclusion of the winding up, after payment of all monies due to the creditors of the LLP and all monies due to the Members, along with all expenses of the winding up, the liquidator shall pay that surplus to the Members.