REGISTERED NUMBER: OC353705 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2026

for

Mundys Property Services LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

S M Bentley

S L Spivey

H Bentley

L Spivey

REGISTERED OFFICE:

29 Silver Street

Lincoln

Lincolnshire

LN2 1AS

REGISTERED NUMBER:

OC353705 (England and Wales)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

FIXED ASSETS

Intangible assets

4

303,797

260,565

Tangible assets

5

257,449

305,015

561,246

565,580

CURRENT ASSETS

Stocks

4,500

4,500

Debtors

6

130,443

105,545

Cash at bank

1,506,713

1,644,112

1,641,656

1,754,157

CREDITORS

Amounts falling due within one year

7

410,819

420,670

NET CURRENT ASSETS

1,230,837

1,333,487

TOTAL ASSETS LESS CURRENT LIABILITIES

1,792,083

1,899,067

CREDITORS

Amounts falling due after more than one year

8

113,875

151,372

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,678,208

1,747,695

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

1,678,208

1,747,695

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

1,678,208

1,747,695

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 March 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 and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 27 July 2026 and were signed by:

S M Bentley - Designated member

1.	STATUTORY INFORMATION

Mundys Property Services LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act . The nature of the limited liability partnership's operations and its principal activities are given in the members' report.

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 Mundys Property Services LLP is considered to be pounds sterling.

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.

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

Asset class

Amortisation method and rate

Goodwill

5% straight line

Tangible fixed assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

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

Asset class

Depreciation method and rate

Alterations to leasehold premises

50% straight line basis

Fixtures and fittings

20% reducing balance

Plant and machinery

20% reducing balance

Motor vehicles

20% reducing balance

Work in progress

Work in progress 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account as incurred.

Taxation

The taxation payable on the partnership's profit 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.

Trade debtors

Trade debtors are amounts due from customers for 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 the 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.

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 accounting period, to defer settlement of the creditor fir 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.

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 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 in 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 the 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.

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.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 51 (2025 - 45 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2025

495,381

Additions

70,000

At 31 March 2026

565,381

AMORTISATION

At 1 April 2025

234,816

Charge for year

26,768

At 31 March 2026

261,584

NET BOOK VALUE

At 31 March 2026

303,797

At 31 March 2025

260,565

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2025

41,991

2,224

223,579

337,310

605,104

Additions

-

3,765

5,660

12,525

21,950

Disposals

-

-

-

(20,500

)

(20,500

)

At 31 March 2026

41,991

5,989

229,239

329,335

606,554

DEPRECIATION

At 1 April 2025

33,580

800

158,495

107,214

300,089

Charge for year

198

745

13,505

46,346

60,794

Eliminated on disposal

-

-

-

(11,778

)

(11,778

)

At 31 March 2026

33,778

1,545

172,000

141,782

349,105

NET BOOK VALUE

At 31 March 2026

8,213

4,444

57,239

187,553

257,449

At 31 March 2025

8,411

1,424

65,084

230,096

305,015

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

100,365

74,240

Other debtors

30,078

31,305

130,443

105,545

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Hire purchase contracts

21,227

26,803

Trade creditors

54,865

65,366

Taxation and social security

182,491

163,319

Other creditors

152,236

165,182

410,819

420,670

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Hire purchase contracts

113,875

151,372

The hire purchase and finance leases are secured on the related assets.

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2026

2025

£

£

Amounts owed to members in respect of profits

1,678,208

1,747,695

Falling due within one year

1,678,208

1,747,695

Loans to members rank equally to other creditors.

10.

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.