Company No: OC333422 (England and Wales)

Contents

• Balance Sheet
• Reconciliation of Members' Interests
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	187,341		134,303
		187,341		134,303
Current assets
Debtors	4	434,702		445,229
Cash at bank and in hand		898,887		1,318,875
		1,333,589		1,764,104
Creditors: amounts falling due within one year	5	( 429,880)		( 490,510)
Net current assets		903,709		1,273,594
Total assets less current liabilities		1,091,050		1,407,897
Creditors: amounts falling due after more than one year	6	( 26,597)		( 6,165)
Net assets attributable to members		1,064,453		1,401,732
Represented by
Loans and other debts due to members within one year
Other amounts		564,453		901,732
		564,453		901,732
Members' other interests
Members' capital classified as equity		500,000		500,000
		500,000		500,000
		1,064,453		1,401,732
Total members' interests
Loans and other debts due to members		564,453		901,732
Members' other interests		500,000		500,000
		1,064,453		1,401,732

For the financial 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.

Members' responsibilities:

• The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Scott Bailey LLP (registered number: OC333422) were approved and authorised for issue by the members on 26 August 2026. They were signed on its behalf by:

J P Burford Designated member		S J Unsworth Designated member
P P M Salt Designated member		B T Ironmonger Designated member
R Wadsworth Designated member

	EQUITY Members' other interests	DEBT Loans and other debts due to members less any amounts due from members in debtors	Total members' interests
	Members' capital (classified as equity)	Other amounts	Total
	£	£	£
Amounts due to members		737,140
Balance at 01 April 2024	300,000	737,140	1,037,140
Members' remuneration charged as an expense, including employment and retirement benefit costs	0	1,621,571	1,621,571
Members' interest after result for the financial year	300,000	2,358,711	2,658,711
Introduced by members	200,000	0	200,000
Drawings	0	(1,456,979)	(1,456,979)
Amounts due to members		901,732
Balance at 31 March 2025	500,000	901,732	1,401,732
Members' remuneration charged as an expense, including employment and retirement benefit costs	0	1,056,786	1,056,786
Members' interest after result for the financial year	500,000	1,958,518	2,458,518
Drawings	0	(1,394,065)	(1,394,065)
Amounts due to members		564,453
Balance at 31 March 2026	500,000	564,453	1,064,453

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Scott Bailey LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is 63 High Street, Lymington, Hampshire, SO41 9ZT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the LLP and rounded to the nearest £.

Turnover

Turnover which is stated net of VAT represents the value of services provided and is recognised as contract activity progresses.

Turnover in respect of contingent fee assignments is recognised in the period when the contingent event occurs and the fee is assured.

Turnover which has been recognised but not invoiced by the balance sheet date, is included in debtors in "prepayments and accrued income". Amounts invoiced in advance are included in "accruals and deferred income".

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

The taxation payable on the partnership's profits 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	depreciated over the life of the lease
Vehicles	25 % reducing balance
Fixtures and fittings	15 - 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the LLP becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the LLP after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the LLP intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Members' participation rights

Profits of the LLP are automatically allocated in full to members. Accordingly, the profit attributable to members is charged as an expense in the profit and loss account. During the year, members receive drawings on account of profits. At the year end, undrawn allocated profits of the LLP are included within loans and other debts due to members. To the extent that any payment of drawings exceeds the amount of profit ultimately to be found to be due to any member, such excess is reclaimable by the LLP and included within debtors.

Capital is repayable to a member on retirement and accordingly, is classified as a liability in the balance sheet.

Provisions

Provision is made for estimated dilapidations including reinstatement costs (where there is an obligation to restore premises to their original condition upon vacating them under the terms of the lease). The costs related to repair and maintenance of equipment and properties that are used by the LLP and for which the LLP has responsibility to maintain or may be liable for dilapidation, are written off as they arise.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the LLP during the year	48		40

3. Tangible assets

	Land and buildings		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 April 2025	24,932		48,690		437,499		511,121
Additions	0		108,660		16,608		125,268
Disposals	0		( 26,899)		0		( 26,899)
At 31 March 2026	24,932		130,451		454,107		609,490
Accumulated depreciation
At 01 April 2025	24,932		25,582		326,304		376,818
Charge for the financial year	0		28,660		36,124		64,784
Disposals	0		( 19,453)		0		( 19,453)
At 31 March 2026	24,932		34,789		362,428		422,149
Net book value
At 31 March 2026	0		95,662		91,679		187,341
At 31 March 2025	0		23,108		111,195		134,303

4. Debtors

	2026		2025
	£		£
Trade debtors	200,239		208,322
Prepayments	234,463		213,414
Other debtors	0		23,493
	434,702		445,229

5. Creditors: amounts falling due within one year

	2026		2025
	£		£
Bank loans	2,562		10,442
Trade creditors	0		495
Accruals	26,065		26,460
Other taxation and social security	186,711		172,996
Obligations under finance leases and hire purchase contracts	16,099		3,930
Other creditors	198,443		276,187
	429,880		490,510

Obligations under finance leases and hire purchase contracts are secured against the company assets to which it relates.

6. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Bank loans	0		2,562
Obligations under finance leases and hire purchase contracts	26,597		3,603
	26,597		6,165

Obligations under finance leases and hire purchase contracts are secured against the company assets to which it relates.

7. Financial commitments

Commitments

Capital commitments are as follows:

	2026		2025
	£		£
Contracted for but not provided for:
Other	270,000		358,000

	2026		2025
	£		£
Total future minimum lease payments under non-cancellable operating leases	270,000		358,000

8. Off Balance Sheet arrangements

The Company has entered into arrangements for holding funds on behalf of clients. These funds of £12,014,320 are not recorded on the Company’s balance sheet, as they do not represent the Company’s own assets. Instead, they are held in segregated accounts specifically designated for client transactions.

Funds held for clients are governed by strict regulatory and contractual obligations, ensuring that the Company manages these funds responsibly and securely. The Company acts in a custodial or fiduciary capacity, and these funds are not available for the Company’s operational use or obligations.