REGISTERED NUMBER: OC386547 (England and Wales)

REPORT OF THE MEMBER AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

OLIVER BURNS LLP

Page

General Information

1

Report of the Member

2

Report of the Accountants

3

Income Statement

4

Balance Sheet

5

Reconciliation of Members' Interests

7

Notes to the Financial Statements

9

REGISTERED OFFICE:

Unit 16

Silk Mill Business Park

Brook Street

Tring

Hertfordshire

HP23 5EF

REGISTERED NUMBER:

OC386547 (England and Wales)

ACCOUNTANTS:

TC Group

Baird House

Seebeck Place

Knowlhill

Milton Keynes

Buckinghamshire

MK5 8FR

The members present their report with the financial statements of the LLP for the year ended 31 March 2025.

CESSATION OF TRADING

The LLP ceased trading on 28 October 2024.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of interior design consultancy.

DESIGNATED MEMBERS

The designated members during the year under review were:

J Burns (to 28.10.24)

Miss S Lillywhite (to 28.10.24)

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £76,703 (2024 - £125,862 loss).

MEMBERS' INTERESTS

STATEMENT OF MEMBER'S RESPONSIBILITIES

The member is responsible for preparing the Report of the Member and the financial statements in accordance with applicable law and regulations.

Legislation applicable to limited liability partnerships requires the member to prepare financial statements for each financial year. Under that law the member has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under legislation applicable to limited liability partnerships the member must not approve the financial statements unless is satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period. In preparing these financial statements, the member is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business.

The member is responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable to ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. is also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ON BEHALF OF THE MEMBERS:

Miss S Lillywhite - Designated member

20 August 2026

In accordance with the engagement letter dated, we have prepared for your approval the financial information from the entity's accounting records and from information and explanations you have given us.

This report is made solely to you, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial information and state those matters that we have agreed to state to you in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the addressee of this report for our work or for this report.

You have approved the financial information and have acknowledged your responsibility for it, for the appropriateness of the financial reporting framework adopted and for providing all information and explanations necessary for its compilation.

We have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not therefore, express any opinion on the financial information.

TC Group

Baird House

Seebeck Place

Knowlhill

Milton Keynes

Buckinghamshire

MK5 8FR

Date: .............................................

TURNOVER

936,675

1,661,556

Cost of sales

695,488

1,351,527

GROSS PROFIT

241,187

310,029

Administrative expenses

167,186

438,760

OPERATING PROFIT/(LOSS)

4

74,001

(128,731

)

Interest receivable and similar income

2,982

3,293

76,983

(125,438

)

Interest payable and similar expenses

280

424

PROFIT/(LOSS) FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

76,703

(125,862

)

FIXED ASSETS

Tangible assets

5

-

99,503

CURRENT ASSETS

Debtors

6

-

98,826

Cash at bank

-

381,824

-

480,650

CREDITORS

Amounts falling due within one year

7

-

566,978

NET CURRENT LIABILITIES

-

(86,328

)

TOTAL ASSETS LESS CURRENT LIABILITIES

-

13,175

CREDITORS

Amounts falling due after more than one year

8

-

11,666

NET ASSETS ATTRIBUTABLE TO MEMBERS

-

1,509

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

-

1,509

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

-

1,509

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 2025.

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 20 August 2026 and were signed by:

Miss S Lillywhite - Designated member

J Burns - Designated member

EQUITY

DEBT

TOTAL

Members'

Loans and other debts due to

MEMBERS'

other

members less any amounts due

INTERESTS

interests

from members in debtors

Other

Other

reserves

amounts

Total

£

£

£

Amount due to members

1,509

Amount due from members

-

Balance at 1 April 2024

-

1,509

1,509

Profit for the financial year available for discretionary division among members

76,703

-

76,703

Members' interests after profit for the year

76,703

1,509

78,212

Other divisions of profit

(76,703

)

76,703

-

Drawings on account and distributions of profit

-

(78,212

)

(78,212

)

Amount due to members

-

Amount due from members

-

Balance at 31 March 2025

-

-

-

EQUITY

DEBT

TOTAL

Members'

Loans and other debts due to

MEMBERS'

other

members less any amounts due

INTERESTS

interests

from members in debtors

Other

Other

reserves

amounts

Total

£

£

£

Amount due to members

157,527

Amount due from members

-

Balance at 1 August 2023

-

157,527

157,527

Loss for the financial year available for discretionary division among members

(125,862

)

-

(125,862

)

Members' interests after loss for the year

(125,862

)

157,527

31,665

Other divisions of loss

125,862

(125,862

)

-

Drawings on account and distributions of profit

-

(30,156

)

(30,156

)

Amount due to members

1,509

Amount due from members

-

Balance at 31 March 2024

-

1,509

1,509

1.	STATUTORY INFORMATION

Oliver Burns 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

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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the amounts recoverable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time.

If, at the Balance Sheet date, completion of contractual obligations is dependant on external factors (and this outside the control of the Limited Liability Partnership), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the Balance Sheet date are carried forward as work in progress.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 7 (2024 - 6 ) .

4.	OPERATING PROFIT/(LOSS)

The operating profit (2024 - operating loss) is stated after charging:

Period

1.8.23

Year ended

to

31.3.25

31.3.24

£

£

Depreciation - owned assets

883

20,721

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2024

18,904

164,375

183,279

Additions

3,558

-

3,558

Disposals

(22,462

)

(164,375

)

(186,837

)

At 31 March 2025

-

-

-

DEPRECIATION

At 1 April 2024

8,952

74,824

83,776

Charge for year

883

-

883

Eliminated on disposal

(9,835

)

(74,824

)

(84,659

)

At 31 March 2025

-

-

-

NET BOOK VALUE

At 31 March 2025

-

-

-

At 31 March 2024

9,952

89,551

99,503

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

3,184

Other debtors

-

95,642

-

98,826

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

-

245,151

Taxation and social security

-

99,409

Other creditors

-

222,418

-

566,978

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

-

11,666

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up the amounts included in "Loans and advances other debts due to members" will rank equally with unsecured creditors.