MPS Northumberland LLP - Filleted accounts

Registered number

OC387566

MPS Northumberland LLP

Unaudited Filleted Accounts

31 January 2026

MPS Northumberland LLP
Registered number:		OC387566
Balance Sheet
as at 31 January 2026
Notes		2026		2025
£			£
Fixed assets
Intangible assets	3	979,200		1,060,800
Current assets
Debtors	4	95		95
Cash at bank and in hand		5,510		6,635
		5,605		6,730

Creditors: amounts falling due within one year	5	(2,447)		(2,007)

Net current assets		3,158		4,723

Total assets less current liabilities		982,358		1,065,523


Net assets attributable to members		982,358		1,065,523

Represented by:

Members' other interests
Members' capital classified as equity		1,232,584		1,232,584
Other reserves		(250,226)		(167,061)
		982,358		1,065,523

		982,358		1,065,523

Total members' interests
Members' other interests		982,358		1,065,523

		982,358		1,065,523

For the year ended 31 January 2026 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.

These accounts were approved by the members on 26 October 2026 and signed on their behalf by:


I McLeod
Designated member

MPS Northumberland LLP
Notes to the Accounts
for the year ended 31 January 2026

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Division of profits
	Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.

	Taxation
	Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulated amortisation and any accumulated impairment losses.

	Goodwill	over 15 years

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	over 5 years
	Fixtures, fittings, tools and equipment	over 5 years

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Members' capital
	Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.


2	Employees		2026		2025
Number				Number

	Average number of persons employed by the LLP		0		0


3	Intangible fixed assets				£
	Goodwill:

	Cost
	At 1 February 2025				1,224,000
	At 31 January 2026				1,224,000

	Amortisation
	At 1 February 2025				163,200
	Provided during the year				81,600
	At 31 January 2026				244,800

	Net book value
	At 31 January 2026				979,200
	At 31 January 2025				1,060,800

	Goodwill is being written off in equal annual instalments over its estimated economic life of 15 years.


4	Debtors		2026		2025
£				£

	Other debtors		95		95


5	Creditors: amounts falling due within one year		2026		2025
£				£

	Amounts owed to group undertakings and undertakings in which the LLP has a participating interest		840		400
	Other creditors		1,607		1,607
			2,447		2,007


6	Other information

	MPS Northumberland LLP is a limited liability partnership incorporated in England. Its registered office is:
	Ennerdale Road
	Blyth Riverside Business Park
	Blyth
	Northumberland
	NE24 4RT