Company No: OC307396 (England and Wales)

Contents

• Limited Liability Partnership Information
• Balance Sheet
• Reconciliation of Members' Interests
• Notes to the Financial Statements

DESIGNATED MEMBERS	J W Bumke
	D R Spinner

REGISTERED OFFICE	Copa House
	Station Road
	Cheddar
	BS27 3AH
	United Kingdom

REGISTERED NUMBER

OC307396 (England and Wales)

ACCOUNTANT	S&W Partners LLP
	4th Floor EQ Building
	111 Victoria Street
	Redcliffe
	Bristol
	BS1 6AX

	Note	2026		2025
		£		£
				Restated - note 2
Fixed assets
Intangible assets	4	0		9,342
Tangible assets	5	23,677		23,578
		23,677		32,920
Current assets
Stocks		36,354		35,288
Debtors	6	1,603,523		1,581,688
Cash at bank and in hand		271,509		295,513
		1,911,386		1,912,489
Creditors: amounts falling due within one year	7	( 755,727)		( 835,719)
Net current assets		1,155,659		1,076,770
Total assets less current liabilities		1,179,336		1,109,690
Creditors: amounts falling due after more than one year	8	( 136,419)		( 324,657)
Net assets attributable to members		1,042,917		785,033
Represented by
Loans and other debts due to members within one year
Other amounts	10	942,917		725,033
		942,917		725,033
Members' other interests
Members' capital classified as equity		100,000		60,000
		100,000		60,000
		1,042,917		785,033
Total members' interests
Loans and other debts due to members		942,917		725,033
Members' other interests		100,000		60,000
		1,042,917		785,033

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 Greaves Brewster LLP (registered number: OC307396) were approved and authorised for issue by the members on 02 November 2026. They were signed on its behalf by:

J W Bumke Designated member

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

Greaves Brewster 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 Copa House, Station Road, Cheddar, BS27 3AH, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Greaves Brewster LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the LLP operates.

The financial statements have been prepared on a going concern basis.

The following principal accounting policies have been applied:

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise on monetary items. Differences that have been recognised in the Profit and Loss account are material and have been presented as Other Operating Income.

Turnover

Turnover arising from trademark agency and patent services is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
• the amount of turnover can be measured reliably;
• it is probable that the LLP will receive the consideration due under the contract;
• the stage of completion of the contract at the end of the reporting period can be measured reliably; and
• the costs incurred and the costs to complete the contract can be measured reliably.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the LLP and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The LLP operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

5 years straight line

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:

Fixtures and fittings	10 years straight line
Computer equipment	3 years straight line

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The LLP as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. Following the conclusion of the financial year, the financial statements are prepared and profit is allocated to each partner upon approval of the financial statements. The profit allocation is determined by the partnership agreement, as is interest earned on any unpaid member balances.

2. Prior year adjustment

During the year it was identified that amounts transferred to creditors for a retired partner for the period ended 31 March 2025 had been overstated by £12,308.

An adjustment has been made to the comparative figures to reflect the correction, resulting in a reduction in amounts due to a member by £12,308, included within creditors falling due after one year.

The net impact of this adjustment at 31 March 2025 was an increase in total members' interests of £12,308 and a decrease in creditors falling due after one year by £12,308. There is no impact on the Profit and Loss.

3. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the LLP during the year	31		33

4. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 April 2025	256,438		256,438
At 31 March 2026	256,438		256,438
Accumulated amortisation
At 01 April 2025	247,096		247,096
Charge for the financial year	9,342		9,342
At 31 March 2026	256,438		256,438
Net book value
At 31 March 2026	0		0
At 31 March 2025	9,342		9,342

5. Tangible assets

	Fixtures and fittings		Computer equipment		Total
	£		£		£
Cost
At 01 April 2025	56,892		190,302		247,194
Additions	0		18,715		18,715
Disposals	( 13,197)		( 9,429)		( 22,626)
At 31 March 2026	43,695		199,588		243,283
Accumulated depreciation
At 01 April 2025	48,613		175,003		223,616
Charge for the financial year	1,987		16,579		18,566
Disposals	( 13,147)		( 9,429)		( 22,576)
At 31 March 2026	37,453		182,153		219,606
Net book value
At 31 March 2026	6,242		17,435		23,677
At 31 March 2025	8,279		15,299		23,578

6. Debtors

	2026		2025
	£		£
Trade debtors	1,532,243		1,531,056
Prepayments	38,543		39,542
Other debtors	32,737		11,090
	1,603,523		1,581,688

7. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	401,291		510,538
Accruals	56,110		26,098
Other taxation and social security	115,399		86,821
Other creditors	182,927		212,262
	755,727		835,719

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

	2026		2025
	£		£
Other creditors	136,419		324,657

There are no amounts included above in respect of which any security has been given by the small entity.

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2026		2025
	£		£
Within one year	52,950		24,413
Between one and five years	128,863		0
	181,813		24,413

10. Loans and other debts due to members

Amounts due to members:

	2026		2025
	£		£
Other amounts due to members:	942,917		725,033

Loans and other debts due to members may be further analysed as follows:

	2026		2025
	£		£
Falling due within one year	942,917		725,033

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

The balance above relates to the unpaid profit share of the LLP.