Members' remuneration is treated as a charge against profits. It includes profits that are automatically divided between members by virtue of the members' agreement.

A member's share in the profit and loss for the financial year is accounted for as an allocation of profits.

The partnership was controlled by Mr N Cable. Mr Cable is also the sole-director of Manchester Urban Finance Corporation Limited and ABS Brymar Floors Limited.

During the financial year, the entity traded commercially with a number of associated entities. The year's transactions can be summarised as follows:

                                                                           2025        2024

                                                                          £             £

Management services charged to related parties

ABS Brymar Floors Ltd                                                   180,000       180,000

Contract hire charged by related parties

Manchester Urban Finance Corporation Ltd                                   97,465        81,495

Balances due from related parties

ABS Brymar Floors Ltd                                                    36,000        36,000

Balances due to related parties

Manchester Urban Finance Corporation Ltd                                  122,392        38,480

Global Treasury Fund

Related operations which have short-term surplus funds remit these to the parent company. These funds are then made available to other related operations that have a short-term cash requirement and the surplus remaining is invested on the short-term money markets. The returns earned on this investment is then allocated to the participating businesses based upon the amount each has contributed to the investment.

Balance due from the partnership to related parties under this arrangement is as follows:

                                                                         2025        2024

                                                                           £            £

Manchester Urban Finance Corporation Ltd                                      NIL      55,000

For the purposes of these financial statements a party is considered to be related to the Limited Liability Partnership if:

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 income statement 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 income statement 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 income statement 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'.