REGISTERED NUMBER: OC407203 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

LACY SCOTT & KNIGHT LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mr G F Smith

Mr A G Turner

Mr G K F Ford

Mr S M Crichton

REGISTERED OFFICE:

10 Risbygate Street

Bury St Edmunds

Suffolk

IP33 3AA

REGISTERED NUMBER:

OC407203 (England and Wales)

ACCOUNTANTS:

Twinn Accountants Limited

Suite 4, East Barton Barns

East Barton Road

Great Barton

Bury St. Edmunds

Suffolk

IP31 2QY

FIXED ASSETS

Tangible assets

4

326,715

122,887

CURRENT ASSETS

Stocks

5

-

17,119

Debtors

6

566,435

523,255

Cash at bank and in hand

212,640

543,489

779,075

1,083,863

CREDITORS

Amounts falling due within one year

7

278,900

329,625

NET CURRENT ASSETS

500,175

754,238

TOTAL ASSETS LESS CURRENT LIABILITIES

826,890

877,125

CREDITORS

Amounts falling due after more than one year

8

308,571

230,946

NET ASSETS ATTRIBUTABLE TO MEMBERS

518,319

646,179

LOANS AND OTHER DEBTS DUE TO MEMBERS

11

243,319

371,179

MEMBERS' OTHER INTERESTS

Capital accounts

275,000

275,000

518,319

646,179

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

11

243,319

371,179

Members' other interests

275,000

275,000

518,319

646,179

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 8 October 2026 and were signed by:

Mr G F Smith - Designated member

1.	STATUTORY INFORMATION

Lacy Scott & Knight 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.

Tangible fixed assets

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

Leasehold property improvement

-

10% on cost

Antiques

-

not provided

Fixtures & equipment

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks represent Work in Progress.

Where no right to consideration has been obtained, the costs to date are recognised in Work in Progress. This comprises direct staff costs and a share of overheads appropriate to the relevant state of completion of the work. The overheads attributable to all time incurred by members and included within work in progress is included within the valuation.

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.

Retirement benefits and post retirement payments to members

In the event of a retirement or expulsion from the LLP, the LLP shall pay to an Outgoing Member who is an Equity Member (other than on the liquidation of the LLP):

(a) his Capital in four equal instalments at intervals of three months, the first of which shall be three months after the Outgoing Date; and

(b) the balance of his undrawn profits shall be paid in four equal instalments at the same time as the payments of Capital (less reserves for tax), provided that if such balance is not agreed at the time for payment then an amount equal to the Designated Members' best estimate of such amount shall be paid and a balancing payment shall be made by the Outgoing Member or the LLP (as the case may be).

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 46 (2025 - 47 ) .

4.	TANGIBLE FIXED ASSETS

Leasehold

property

Fixtures

Motor

improvement

Antiques

& equipment

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2025

408,197

9,448

74,452

47,875

539,972

Additions

276,533

-

10,312

-

286,845

Disposals

(25,506

)

-

(20,178

)

-

(45,684

)

At 31 March 2026

659,224

9,448

64,586

47,875

781,133

DEPRECIATION

At 1 April 2025

324,155

-

58,154

34,776

417,085

Charge for year

65,922

-

6,642

3,275

75,839

Eliminated on disposal

(21,442

)

-

(17,064

)

-

(38,506

)

At 31 March 2026

368,635

-

47,732

38,051

454,418

NET BOOK VALUE

At 31 March 2026

290,589

9,448

16,854

9,824

326,715

At 31 March 2025

84,042

9,448

16,298

13,099

122,887

5.

STOCKS

2026

2025

£

£

Stocks

-

17,119

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

506,270

447,466

Prepayments

60,165

75,789

566,435

523,255

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

21,922

20,874

Other loans

29,253

7,475

Trade creditors

57,666

54,665

Social security and other taxes

2,587

106,230

VAT

142,803

108,934

Other creditors

5,919

16,046

Accrued expenses

18,750

15,401

278,900

329,625

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans - 2 - 5 yrs

98,515

93,727

Bank loans - more than 5 yrs

17,678

44,447

Other loans - 2 - 5 yrs

125,061

34,973

Other loans - more than 5 yrs

67,317

57,799

308,571

230,946

Amounts falling due in more than five years:

Repayable by instalments

Bank loans - more than 5 yrs

17,678

44,447

Other loans - more than 5 yrs

67,317

57,799

84,995

102,246

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2026

2025

£

£

Within one year

34,590

34,590

Between one and five years

46,257

80,847

80,847

115,437

10.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Bank loans

138,115

159,048

Other loans

221,631

100,247

359,746

259,295

The bank loan is a long-term business loan which is secured by personal guarantees from the members.

The amount included in 'other loans' represents three separate long-term business loans which have been advanced by the members and are secured by personal guarantees from the members.

11.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Under the terms of the members' agreement, loans and other debts due to members are potentially repayable within one year.

In the event of a winding up of the LLP, undrawn profits, loans due to members and capital subscribed by members rank after sums due to unsecured creditors.

No restrictions or limitations exist on the ability of the members to reduce the amounts of members' other interests.