Limited Liability Partnership registration number OC341692 (England and Wales)
FL & SON LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
FL & SON LLP
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
FL & SON LLP
BALANCE SHEET
AS AT
5 APRIL 2025
05 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
3
2,950,000
2,950,000
Current assets
Debtors
4
5,880
-
Cash at bank and in hand
76,174
129,154
82,054
129,154
Creditors: amounts falling due within one year
5
(113,044)
(109,557)
Net current (liabilities)/assets
(30,990)
19,597
Total assets less current liabilities
2,919,010
2,969,597
Creditors: amounts falling due after more than one year
6
(420,000)
(460,000)
Net assets attributable to members
2,499,010
2,509,597
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
155,072
239,081
Members' other interests
Members' capital classified as equity
1,128,034
1,054,612
Other reserves classified as equity
1,215,904
1,215,904
2,499,010
2,509,597
FL & SON LLP
BALANCE SHEET (CONTINUED)
AS AT 5 APRIL 2025
- 2 -

For the financial year ended 5 April 2025 the limited liability partnership 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 limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act as applied to limited liability partnerships with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

T he members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

The financial statements were approved by the members and authorised for issue on 22 January 2026 and are signed on their behalf by:
22 January 2026
Mr F J Lampard
Designated member
Limited Liability Partnership registration number OC341692 (England and Wales)
FL & SON LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
- 3 -
1
Accounting policies
Limited liability partnership information

FL & Son LLP is a limited liability partnership incorporated in England and Wales. The registered office is First Floor, 14-15 Berners Street, London, W1T 3LJ.

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in January 2017, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”). The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover
Turnover represents amounts receivable for rent net of VAT and trade discounts.
1.3
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the m embers' agreement.

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.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Financial instruments

The company has only basic financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest.

FL & SON LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction.

2
Employees

The average number of persons (excluding members) employed by the partnership during the year was:

2025
2024
Number
Number
Total
0
0
3
Investment property
2025
£
Fair value
At 6 April 2024 and 5 April 2025
2,950,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 5 April 2025 by the partners. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. Members have reviewed the current market and do not believe the fair values to be materially different.

4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
5,880
-
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
40,000
40,000
Taxation and social security
6,000
5,655
Other creditors
67,044
63,902
113,044
109,557
FL & SON LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2025
- 5 -
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
420,000
460,000

The long-term loans are secured by fixed charges over the assets of the LLP.

7
Deferred income
2025
2024
£
£
Other deferred income
26,327
26,327
8
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

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