Taylor & Mason LLP - LLP accounts 24.3

REGISTERED NUMBER: OC430155 (England and Wales)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026

FOR

TAYLOR & MASON LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

R Barlow

K Taylor

REGISTERED OFFICE:

High Ham

Langport

Somerset

TA10 9DH

REGISTERED NUMBER:

OC430155 (England and Wales)

ACCOUNTANTS:

Sheppard Rockey & Williams Ltd

Sannerville Chase

Exminster

Exeter

Devon

EX6 8AT

The members present their report with the financial statements of the LLP for the year ended 31 January 2026.

DESIGNATED MEMBERS

The designated members during the year under review were:

R Barlow

K Taylor

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £1,380 (2025 - £588 profit).

MEMBERS' INTERESTS

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 FRS25 (IAS32) Financial Instruments: Disclosure and Presentation and UTIF abstract 39 Members' shares in co-operative entities and similar instruments. 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 payments to members.If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

The profits are not automatically divided as they arise, the LLP therefore has an unconditional right to refuse payment of the profits for a particular year unless and until those profits are divided by a decision taken by the members; and accordingly, following such a division, those profits are classed as an appropriation or equity rather than an expense. They are therefore shown as a residual amount available for appropriation in the Profit and Loss Account.

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 Profit and Loss Account 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'.

ON BEHALF OF THE MEMBERS:

R Barlow - Designated member

8 July 2026

TURNOVER

2,600

6,609

Cost of sales

(458

)

2,230

GROSS PROFIT

3,058

4,379

Administrative expenses

1,678

3,791

OPERATING PROFIT and

PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS

1,380

588

CURRENT ASSETS

Stocks

4,057

3,000

Debtors

5

34

Cash at bank

1,021

2,533

5,112

5,567

CREDITORS

Amounts falling due within one year

6

1,314

1,160

NET CURRENT ASSETS

3,798

4,407

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO
MEMBERS

3,798

4,407

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8,280

9,477

MEMBERS' OTHER INTERESTS

Other reserves

(4,482

)

(5,070

)

3,798

4,407

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8,280

9,477

Members' other interests

(4,482

)

(5,070

)

3,798

4,407

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 January 2026.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 8 July 2026 and were signed by:

R Barlow - Designated member

K Taylor - Designated member

1.	STATUTORY INFORMATION

Taylor & Mason LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover

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 and rebates.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2025 - 2 ).

4.	INFORMATION IN RELATION TO MEMBERS

31.1.26

31.1.25

The average number of members during the year was

2

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.26

31.1.25

£

Other debtors

34

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.26

31.1.25

£

Trade creditors

1

Other creditors

1,313

1,159

1,314

1,160

Capital loans and other debts due to members rank pari passu with creditors, in accordance with the members' agreement. There are no restrictions on the members' ability to reduce the amount of the members' other interests.