Miller and Son SW LLP

Balance Sheet

31 July 2025

For the year ending 31 July 2025 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared and delivered in accordance with the special provisions within Part 15 of the Companies Act 2006 as applied to small limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 as modified by the Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016, and the option not to file the Profit and Loss Account has been taken.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of Miller and Son SW LLP (registered number OC379991) were approved by the members and authorised for issue on 29 April 2026. They were signed on behalf of the limited liability partnership by:

......................................... J C Miller Designated member

Miller and Son SW LLP

Notes to the Financial Statements

Period from 1 April 2024 to 31 July 2025

1	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention in accordance with FRS 102 including Section 1A – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and in accordance with the Statement of Recommended Practice ‘Accounting for Limited Liability Partnerships’ issued in January 2017.

General information and basis of accounting

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of Miller and Son SW LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Going concern

The LLP's trade and assets were sold on 30 May 2025. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The members have included in the financial statements a provision for future costs of the LLP.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration which is at the point of property exchange in accordance with client contracts. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Government grants

Government grants of a revenue nature are credited to the Profit and Loss Account so as to match them with the expenditure to which they relate.

Miller and Son SW LLP

Notes to the Financial Statements

Period from 1 April 2024 to 31 July 2025

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line basis
Website and trademark	10% reducing balance

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Miller and Son SW LLP

Notes to the Financial Statements

Period from 1 April 2024 to 31 July 2025

Asset class	Depreciation method and rate
Plant and machinery	20% reducing balance basis
Fixtures and fittings	20% reducing balance basis
Land and buildings	10% straight line basis
Motor vehicles	25% reducing balance basis
Improvements to property	10% straight line basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

Financial instruments

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

The LLP holds the following financial instruments:

Basic financial assets comprise short term trade and other debtors and cash and bank balances.

Basic financial liabilities comprise short term trade and other creditors and bank loans.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

2	Particulars of employees

The average number of persons employed by the limited liability partnership during the period was 25 (2024 - 30).

Miller and Son SW LLP

Notes to the Financial Statements

Period from 1 April 2024 to 31 July 2025

3	Intangible fixed assets

	Goodwill £	Other intangibles £	Total £
Cost
At 1 April 2024	90,000	18,253	108,253
Disposals	(90,000)	(18,253)	(108,253)
At 31 July 2025	-	-	-
Amortisation
At 1 April 2024	90,000	13,068	103,068
Eliminated on disposals	(90,000)	(13,068)	(103,068)
At 31 July 2025	-	-	-
Net book value
At 31 July 2025	-	-	-
At 31 March 2024	-	5,185	5,185

Miller and Son SW LLP

Notes to the Financial Statements

Period from 1 April 2024 to 31 July 2025

5

Debtors

	2025 £	2024 £
Trade debtors	44,142	52,505
Other debtors	-	21,795
Prepayments and accrued income	-	37,493
Total current trade and other debtors	44,142	111,793

6	Creditors: Amounts falling due within one year

	31 July 2025  £	31 March 2024  £
Trade creditors	3,914	38,547
Taxation and social security	18,808	62,417
Other creditors	-	7,975
Accruals and deferred income	60,423	69,321
	83,145	178,260