Henry Adams (Horsham Lettings) LLP OC397955 false 2025-04-01 2026-03-31 2026-03-31 The principal activity of the company is the operation of a residential property lettings agency. Digita Accounts Production Advanced 6.30.9574.0 true OC397955 2025-04-01 2026-03-31 OC397955 2026-03-31 OC397955 core:CurrentFinancialInstruments 2026-03-31 OC397955 core:Non-currentFinancialInstruments 2026-03-31 OC397955 core:Non-currentFinancialInstruments core:AfterOneYear 2026-03-31 OC397955 core:Goodwill 2026-03-31 OC397955 core:WithinOneYear 2026-03-31 OC397955 core:FurnitureFittings 2026-03-31 OC397955 core:MotorVehicles 2026-03-31 OC397955 bus:SmallEntities 2025-04-01 2026-03-31 OC397955 bus:AuditExemptWithAccountantsReport 2025-04-01 2026-03-31 OC397955 bus:FilletedAccounts 2025-04-01 2026-03-31 OC397955 bus:SmallCompaniesRegimeForAccounts 2025-04-01 2026-03-31 OC397955 bus:PartnerLLP1 2025-04-01 2026-03-31 OC397955 bus:LimitedLiabilityPartnershipLLP 2025-04-01 2026-03-31 OC397955 core:Goodwill 2025-04-01 2026-03-31 OC397955 core:FurnitureFittings 2025-04-01 2026-03-31 OC397955 core:FurnitureFittingsToolsEquipment 2025-04-01 2026-03-31 OC397955 core:MotorVehicles 2025-04-01 2026-03-31 OC397955 countries:AllCountries 2025-04-01 2026-03-31 OC397955 2025-03-31 OC397955 core:Goodwill 2025-03-31 OC397955 core:FurnitureFittings 2025-03-31 OC397955 core:MotorVehicles 2025-03-31 OC397955 2024-04-01 2025-03-31 OC397955 2025-03-31 OC397955 core:CurrentFinancialInstruments 2025-03-31 OC397955 core:Non-currentFinancialInstruments 2025-03-31 OC397955 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 OC397955 core:Goodwill 2025-03-31 OC397955 core:WithinOneYear 2025-03-31 OC397955 core:FurnitureFittings 2025-03-31 OC397955 core:MotorVehicles 2025-03-31 iso4217:GBP xbrli:pure

Henry Adams (Horsham Lettings) LLP
Annual Report and Unaudited Financial Statements
for the Year Ended 31 March 2026
Registration number: OC397955

Henry Adams (Horsham Lettings) LLP

Contents

Financial Statements | 1 to 7
Balance Sheet | 1
Notes to the Financial Statements | 3

Henry Adams (Horsham Lettings) LLP

(Registration number: OC397955)
Balance Sheet as at 31 March 2026

| Note | 2026 £ | 2025 £
Fixed assets |  |  |
Intangible assets | 4 | 134,696 | 145,920
Tangible assets | 5 | 105,969 | 126,125
|  | 240,665 | 272,045
Current assets |  |  |
Debtors |  | 12,538 | 11,841
Cash and short-term deposits |  | 235,896 | 216,218
|  | 248,434 | 228,059
Creditors: Amounts falling due within one year | 7 | (76,950) | (78,726)
Net current assets |  | 171,484 | 149,333
Total assets less current liabilities |  | 412,149 | 421,378
Creditors: Amounts falling due after more than one year | 8 | (54,385) | (65,592)
Net assets attributable to members |  | 357,764 | 355,786
Represented by: |  |  |
Loans and other debts due to members |  |  |
Members' capital classified as a liability |  | 357,764 | 355,786
|  | 357,764 | 355,786
Total members' interests |  |  |
Loans and other debts due to members |  | 357,764 | 355,786
|  | 357,764 | 355,786

For the year ending 31 March 2026 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 provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

Henry Adams (Horsham Lettings) LLP

(Registration number: OC397955)
Balance Sheet as at 31 March 2026

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 Henry Adams (Horsham Lettings) LLP (registered number OC397955) were approved by the Board and authorised for issue on 27 May 2026. They were signed on behalf of the limited liability partnership by:

.........................................
Mr R W Crawford Clarke
Designated member

Henry Adams (Horsham Lettings) LLP

Notes to the Financial Statements for the Year Ended 31 March 2026

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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 Henry Adams (Horsham Lettings) 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.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

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.

Henry Adams (Horsham Lettings) LLP

Notes to the Financial Statements for the Year Ended 31 March 2026

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.

Intangible assets

Intangible assets are stated in the balance sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.

Tangible fixed assets

Individual fixed assets are initially recorded at cost.

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 | 20 years Straight line

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:

Asset class | Depreciation method and rate
Motor vehicles | 25% Reducing balance
Fixtures and fittings | 25% Reducing balance

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

Henry Adams (Horsham Lettings) LLP

Notes to the Financial Statements for the Year Ended 31 March 2026

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Pensions and other post retirement obligations

The partnership operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2 | Profit for the year before members' remuneration and profit shares

Arrived at after charging/(crediting)

| 2026 £ | 2025 £
Depreciation | 34,156 | 11,432
Amortisation | 11,224 | 11,224

3 | Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 9 (2025 - 10).

4 | Intangible fixed assets

| Goodwill £ | Total £
Cost |  |
At 1 April 2025 | 276,964 | 276,964
At 31 March 2026 | 276,964 | 276,964
Amortisation |  |
At 1 April 2025 | 131,044 | 131,044
Charge for the year | 11,224 | 11,224
At 31 March 2026 | 142,268 | 142,268
Net book value |  |
At 31 March 2026 | 134,696 | 134,696
At 31 March 2025 | 145,920 | 145,920

Henry Adams (Horsham Lettings) LLP

Notes to the Financial Statements for the Year Ended 31 March 2026

5 | Tangible fixed assets

| Fixtures and fittings £ | Motor vehicles £ | Total £
Cost |  |  |
At 1 April 2025 | 8,265 | 133,528 | 141,793
Additions | - | 26,400 | 26,400
Disposals | - | (12,400) | (12,400)
At 31 March 2026 | 8,265 | 147,528 | 155,793
Depreciation |  |  |
At 1 April 2025 | 5,011 | 10,657 | 15,668
Charge for the year | 813 | 33,343 | 34,156
At 31 March 2026 | 5,824 | 44,000 | 49,824
Net book value |  |  |
At 31 March 2026 | 2,441 | 103,528 | 105,969
At 31 March 2025 | 3,254 | 122,871 | 126,125

6 | Debtors

| 2026 £ | 2025 £
Trade debtors | 2,115 | 2,098
Other debtors | 2,473 | -
Prepayments and accrued income | 7,950 | 9,743
Total current trade and other debtors | 12,538 | 11,841

Henry Adams (Horsham Lettings) LLP

Notes to the Financial Statements for the Year Ended 31 March 2026

7 | Creditors: Amounts falling due within one year

| 2026 £ | 2025 £
Trade creditors | 13,546 | 8,339
Other creditors | 22,147 | 22,747
Accruals and deferred income | 3,860 | 3,200
Taxation and social security | 37,397 | 44,440
| 76,950 | 78,726

8 | Creditors: Amounts falling due after more than one year

| 2026 £ | 2025 £
Other creditors | 54,385 | 65,592

9 | Control

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.

10 | Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2025 - £11,804).