Brown & Wallace LLP

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—5

Registered number: SO305695

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		128,222		74,190

			128,222		74,190
CURRENT ASSETS
Stocks	5	43,995		75,570
Debtors	6	706,519		418,922
Cash at bank and in hand		277,073		242,974

		1,027,587		737,466
Creditors: Amounts Falling Due Within One Year	7	(536,514 )		(261,159 )

NET CURRENT ASSETS (LIABILITIES)			491,073		476,307

TOTAL ASSETS LESS CURRENT LIABILITIES			619,295		550,497

Creditors: Amounts Falling Due After More Than One Year	8		(38,288 )		-

NET ASSETS ATTRIBUTABLE TO MEMBERS			581,007		550,497

REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts		235,698		550,497

			235,698		550,497

Equity
Members' other interests
Other reserves		345,309		-

			345,309		-

			581,007		550,497

TOTAL MEMBERS' INTEREST
Amounts due from members			(246,774)		-
Loans and other debts due to members within one year			235,698		550,497
Members' other interests			345,309		-

			334,233		550,497

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Brown & Wallace LLP

Statement of Financial Position (continued)

As At 31 March 2026

For the year ending 31 March 2026 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Income Statement.

On behalf of the members

Steven Stewart

Designated Member

23rd June 2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Brown & Wallace LLP is a limited liability partnership, incorporated in Scotland, registered number SO305695 . The Registered Office is 22 James Morrison Street, Glasgow, G1 5PE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in May 2024 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	25% Reducing Balance
Fixtures & Fittings	25% Reducing Balance

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the LLP. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: 23 (2025: 22)

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Brown & Wallace LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

4. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 April 2025	131,008	163,609	294,617
Additions	149,484	-	149,484
Disposals	(131,008 )	-	(131,008 )

As at 31 March 2026	149,484	163,609	313,093

Depreciation
As at 1 April 2025	66,144	154,283	220,427
Provided during the period	28,257	2,331	30,588
Disposals	(66,144 )	-	(66,144 )

As at 31 March 2026	28,257	156,614	184,871

Net Book Value
As at 31 March 2026	121,227	6,995	128,222

As at 1 April 2025	64,864	9,326	74,190

5. Stocks

	2026	2025
	£	£
Work in progress	43,995	75,570

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	459,745	418,922
Amounts due from members	246,774	-

	706,519	418,922

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	35,342	-
Trade creditors	17,529	-
Bank loans and overdrafts	4,692	-
Other taxes and social security	23,603	32,091
VAT	165,642	162,280
Amount due to former member	279,792	-
Accruals and deferred income	9,914	66,788

	536,514	261,159

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Brown & Wallace LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	38,288	-

9. Obligations Under Finance Leases and Hire Purchase

	2026	2025
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	35,342	-
Later than one year and not later than five years	38,288	-

	73,630	-

	73,630	-

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