33 false false false false false false false false false false false false false false false false false No description of principal activity 2024-10-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP OC348151 2024-10-01 2025-09-30 OC348151 2025-09-30 OC348151 2024-09-30 OC348151 2023-10-01 2024-09-30 OC348151 2024-09-30 OC348151 2023-09-30 OC348151 core:FurnitureFittings 2024-10-01 2025-09-30 OC348151 core:MotorVehicles 2024-10-01 2025-09-30 OC348151 bus:Director1 2024-10-01 2025-09-30 OC348151 bus:Director2 2024-10-01 2025-09-30 OC348151 bus:Director3 2024-10-01 2025-09-30 OC348151 core:FurnitureFittings 2024-09-30 OC348151 core:MotorVehicles 2024-09-30 OC348151 core:FurnitureFittings 2025-09-30 OC348151 core:MotorVehicles 2025-09-30 OC348151 core:WithinOneYear 2025-09-30 OC348151 core:WithinOneYear 2024-09-30 OC348151 core:FurnitureFittings 2024-09-30 OC348151 core:MotorVehicles 2024-09-30 OC348151 bus:SmallEntities 2024-10-01 2025-09-30 OC348151 bus:AuditExemptWithAccountantsReport 2024-10-01 2025-09-30 OC348151 bus:SmallCompaniesRegimeForAccounts 2024-10-01 2025-09-30 OC348151 bus:LimitedLiabilityPartnershipLLP 2024-10-01 2025-09-30 OC348151 bus:FullAccounts 2024-10-01 2025-09-30 OC348151 core:OfficeEquipment 2024-10-01 2025-09-30 OC348151 core:OfficeEquipment 2024-09-30 OC348151 core:OfficeEquipment 2025-09-30
REGISTERED NUMBER: OC348151

Thornton-Firkin LLP

Filleted Unaudited Financial Statements

For the year ended

30 September 2025

Thornton-Firkin LLP

Statement of Financial Position

30 September 2025

| 2025 | 2024
Note | £ | £ | £

Fixed assets

Tangible assets | 5 |  | 102,688 | 142,493

Current assets

Debtors | 6 | 1,153,561 |  | 1,380,693
Cash at bank and in hand | 2,739,458 |  | 2,460,933
| ------------ |  | ------------
| 3,893,019 |  | 3,841,626

Creditors: amounts falling due within one year | 7 | 713,954 |  | 894,287
| ------------ |  | ------------
Net current assets |  | 3,179,065 | 2,947,339
|  | ------------ | ------------
Total assets less current liabilities |  | 3,281,753 | 3,089,832
|  | ------------ | ------------
Net assets |  | 3,281,753 | 3,089,832
|  | ------------ | ------------

Represented by:
Loans and other debts due to members

Other amounts | 8 |  | 2,281,753 | 2,089,832

Members' other interests

Members' capital classified as equity |  | 1,000,000 | 1,000,000
Other reserves |  | – | –
|  | ------------ | ------------
|  | 3,281,753 | 3,089,832
|  | ------------ | ------------

Total members' interests

Loans and other debts due to members | 8 |  | 2,281,753 | 2,089,832
Members' other interests |  | 1,000,000 | 1,000,000
|  | ------------ | ------------
|  | 3,281,753 | 3,089,832
|  | ------------ | ------------

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 30 September 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 .

Thornton-Firkin LLP

Statement of Financial Position (continued)

30 September 2025
These financial statements were approved by the members and authorised for issue on 28 January 2026 , and are signed on their behalf by:

M Bradbury | A B Robinson
Designated Member | Designated Member

A J Jones |
Designated Member |

Registered number: OC348151

Thornton-Firkin LLP

Notes to the Financial Statements

Year ended 30 September 2025

1. | General information

The LLP is registered in England and Wales. The address of the registered office is 137 Newhall Street, Birmingham, B3 1SF.

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 2021 (SORP 2021).

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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
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 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'.
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:

| Computer equipment | - | 25% straight line
| Motor vehicles | - | 25% straight line
| Office equipment | - | 25% straight line

4. | Employee numbers

The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 33 (2024: 34 ).

5. | Tangible assets

| Computer equipment | Motor vehicles | Office equipment | Total
| £ | £ | £ | £
Cost |  |  |  |
At 1 October 2024 | 218,396 | 173,060 | 73,932 | 465,388
Additions | 17,771 | – | 3,123 | 20,894
| --------- | --------- | -------- | ---------
At 30 September 2025 | 236,167 | 173,060 | 77,055 | 486,282
| --------- | --------- | -------- | ---------
Depreciation |  |  |  |
At 1 October 2024 | 189,606 | 61,462 | 71,827 | 322,895
Charge for the year | 16,221 | 43,265 | 1,213 | 60,699
| --------- | --------- | -------- | ---------
At 30 September 2025 | 205,827 | 104,727 | 73,040 | 383,594
| --------- | --------- | -------- | ---------
Carrying amount |  |  |  |
At 30 September 2025 | 30,340 | 68,333 | 4,015 | 102,688
| --------- | --------- | -------- | ---------
At 30 September 2024 | 28,790 | 111,598 | 2,105 | 142,493
| --------- | --------- | -------- | ---------

6. | Debtors

| 2025 | 2024
| £ | £
Trade debtors | 905,370 | 1,163,354
Other debtors | 248,191 | 217,339
| ------------ | ------------
| 1,153,561 | 1,380,693
| ------------ | ------------

7. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Trade creditors | 91,368 | 87,679
Social security and other taxes | 290,738 | 294,116
Other creditors | 331,848 | 512,492
| --------- | ---------
| 713,954 | 894,287
| --------- | ---------

8. | Loans and other debts due to members

| 2025 | 2024
| £ | £
Amounts owed to members in respect of profits | 2,281,753 | 2,089,832
| ------------ | ------------

9. | Related party transactions

The LLP was under the control of the members throughout the year.