REGISTERED NUMBER: OC356032 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2025

for

Swinburne Maddison LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

J M Moreland

V E Walton

K E Stephenson

M W Tennant

S A Robinson

REGISTERED OFFICE:

Venture House

Aykley Heads Business Centre

Aykley Heads

Durham

Co Durham

DH1 5TS

REGISTERED NUMBER:

OC356032 (England and Wales)

ACCOUNTANTS:

Clive Owen LLP

Chartered Accountants

Kepier House

Belmont Business Park

Durham

DH1 1TW

BANKERS:

National Westminster Bank PLC

12 Market Place

Durham

Co Durham

DH1 3NG

FIXED ASSETS

Tangible assets

4

116,409

128,024

CURRENT ASSETS

Debtors

5

2,197,839

2,146,699

Cash at bank

611,176

342,003

2,809,015

2,488,702

CREDITORS

Amounts falling due within one year

6

(719,921

)

(629,260

)

NET CURRENT ASSETS

2,089,094

1,859,442

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

2,205,503

1,987,466

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

2,205,503

1,987,466

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

2,205,503

1,987,466

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 30 April 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 Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 5 January 2026 and were signed by:

M W Tennant - Designated member

1.	STATUTORY INFORMATION

Swinburne Maddison 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.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

There were no material departures from that standard.

Turnover

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

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the LLP will receive consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

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

Improvements to property

-

10% on cost

Fixtures and fittings

-

10 - 25% on cost

Financial instruments

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

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.

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 discretionary on 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.

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'.

Tangible fixed assets

Tangible fixed assets are held at cost less accumulated depreciation.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 83 (2024 - 77 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

property

fittings

Totals

£

£

£

COST

At 1 May 2024

59,545

458,465

518,010

Additions

-

45,973

45,973

At 30 April 2025

59,545

504,438

563,983

DEPRECIATION

At 1 May 2024

38,208

351,778

389,986

Charge for year

5,949

51,639

57,588

At 30 April 2025

44,157

403,417

447,574

NET BOOK VALUE

At 30 April 2025

15,388

101,021

116,409

At 30 April 2024

21,337

106,687

128,024

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

947,759

1,010,250

Amounts recoverable on

contracts

1,106,039

981,274

Other debtors

-

5,180

Prepayments and accrued income

144,041

149,995

2,197,839

2,146,699

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other loans

93,145

104,612

Trade creditors

10,675

24,899

Social security and other taxes

350,126

305,312

Other creditors

9,001

13,465

Accruals and deferred income

256,974

180,972

719,921

629,260

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

167,780

195,283

Between one and five years

570,745

594,656

In more than five years

895,671

1,039,540

1,634,196

1,829,479

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2025

2024

£

£

Amounts owed to members in respect of profits

2,205,503

1,987,466

Falling due within one year

2,205,503

1,987,466