Monard Electrical Contractors LLP

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: OC367500

		31 March 2026		31 December 2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		1,026,894		265,576
Tangible Assets	5		162,761		164,755

			1,189,655		430,331
CURRENT ASSETS
Stocks	6	214,000		231,000
Debtors	7	1,306,895		1,198,524
Cash at bank and in hand		1,210,774		1,309,589

		2,731,669		2,739,113
Creditors: Amounts Falling Due Within One Year	8	(486,067 )		(696,451 )

NET CURRENT ASSETS (LIABILITIES)			2,245,602		2,042,662

TOTAL ASSETS LESS CURRENT LIABILITIES			3,435,257		2,472,993

NET ASSETS ATTRIBUTABLE TO MEMBERS			3,435,257		2,472,993

REPRESENTED BY:
Loans and other debts due to members
Other amounts		3,435,257		2,472,993

			3,435,257		2,472,993

			3,435,257		2,472,993

TOTAL MEMBERS' INTEREST
Loans and other debts due to members			3,435,257		2,472,993

			3,435,257		2,472,993

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Monard Electrical Contractors LLP

Balance Sheet (continued)

As At 31 March 2026

For the period 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 Profit and Loss Account.

On behalf of the members

Mr R W Francis

Designated Member

21st September 2026

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

1. General Information

Monard Electrical Contractors LLP is a limited liability partnership, incorporated in , registered number OC367500 . The Registered Office is 5 Monard Terrace, Denmark Street, Oxford, Oxon, OX4 1QR.

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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.

2.4. 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:

Plant & Machinery	25% reducing balance basis
Motor Vehicles	25% reducing balance basis
Fixtures & Fittings	15% reducing balance basis
Computer Equipment	25% reducing balance basis

2.5. 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 profit and loss account 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 profit and loss account as incurred.

2.6. 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.

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Monard Electrical Contractors LLP

Notes to the Financial Statements (continued)

For the Period 1 January 2025 to 31 March 2026

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the period was: 37 (2024: 34)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2025	1,226,698

As at 31 March 2026	1,226,698

Amortisation
As at 1 January 2025	961,122
Provided during the period	185,880
Reversal of past impairments	(947,198 )

As at 31 March 2026	199,804

Net Book Value
As at 31 March 2026	1,026,894

As at 1 January 2025	265,576

5. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2025	436,731	12,667	16,832	466,230
Additions	77,897	-	-	77,897
Disposals	(30,984 )	-	-	(30,984 )

As at 31 March 2026	483,644	12,667	16,832	513,143

Depreciation
As at 1 January 2025	274,286	10,899	16,290	301,475
Provided during the period	73,184	332	226	73,742
Disposals	(24,835 )	-	-	(24,835 )

As at 31 March 2026	322,635	11,231	16,516	350,382

Net Book Value
As at 31 March 2026	161,009	1,436	316	162,761

As at 1 January 2025	162,445	1,768	542	164,755

6. Stocks

	31 March 2026	31 December 2024
	£	£
Stock	44,000	40,000
Work in progress	170,000	191,000

	214,000	231,000

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Monard Electrical Contractors LLP

Notes to the Financial Statements (continued)

For the Period 1 January 2025 to 31 March 2026

7. Debtors

	31 March 2026	31 December 2024
	£	£
Due within one year
Trade debtors	1,190,336	1,065,507
Other debtors	116,559	133,017

	1,306,895	1,198,524

8. Creditors: Amounts Falling Due Within One Year

	31 March 2026	31 December 2024
	£	£
Net obligations under finance lease and hire purchase contracts	-	450
Trade creditors	254,838	230,426
Other creditors	138,746	367,303
Taxation and social security	92,483	98,272

	486,067	696,451

9. Obligations Under Finance Leases and Hire Purchase

	31 March 2026	31 December 2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	-	450

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