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REGISTERED NUMBER: OC321612 (England and Wales)


























UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

NOW LEGAL LLP

NOW LEGAL LLP (REGISTERED NUMBER: OC321612)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025










Page

Balance Sheet 1 to 2

Notes to the Financial Statements 3 to 5


NOW LEGAL LLP (REGISTERED NUMBER: OC321612)

BALANCE SHEET
31 MARCH 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,301 3,451
Tangible assets 5 3,355 8,062
5,656 11,513

CURRENT ASSETS
Debtors 6 249,269 283,778
Cash at bank 311,515 150,422
560,784 434,200
CREDITORS
Amounts falling due within one year 7 182,135 170,263
NET CURRENT ASSETS 378,649 263,937
TOTAL ASSETS LESS CURRENT
LIABILITIES

384,305

275,450

CREDITORS
Amounts falling due after more than one
year

8

1,667

14,633
NET ASSETS ATTRIBUTABLE TO
MEMBERS

382,638

260,817

LOANS AND OTHER DEBTS DUE TO
MEMBERS

214,883

95,432

MEMBERS' OTHER INTERESTS
Capital accounts 167,755 165,385
382,638 260,817

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 214,883 95,432
Members' other interests 167,755 165,385
382,638 260,817

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 2025.

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.

NOW LEGAL LLP (REGISTERED NUMBER: OC321612)

BALANCE SHEET - continued
31 MARCH 2025


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 6 June 2025 and were signed by:





Mr M R Soulsby - Designated member

NOW LEGAL LLP (REGISTERED NUMBER: OC321612)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025


1. STATUTORY INFORMATION

Now Legal LLP is registered in England and Wales. The LLP's registered number and registered office address are as below:

Registered number: OC321612

Registered office: 4 Brunel Way
Segensworth East
Fareham
Hampshire
PO15 5TX

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
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% straight line
Computer equipment - 33% straight line

All fixed assets are initially recorded at cost.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 22 (2024 - 25 ) .

NOW LEGAL LLP (REGISTERED NUMBER: OC321612)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2024
and 31 March 2025 23,003
AMORTISATION
At 1 April 2024 19,552
Amortisation for year 1,150
At 31 March 2025 20,702
NET BOOK VALUE
At 31 March 2025 2,301
At 31 March 2024 3,451

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2024 15,712 83,184 98,896
Additions 483 660 1,143
At 31 March 2025 16,195 83,844 100,039
DEPRECIATION
At 1 April 2024 13,807 77,027 90,834
Charge for year 1,788 4,062 5,850
At 31 March 2025 15,595 81,089 96,684
NET BOOK VALUE
At 31 March 2025 600 2,755 3,355
At 31 March 2024 1,905 6,157 8,062

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 5,168 15,342
Amounts recoverable on contract 174,840 187,640
Other debtors 69,261 80,796
249,269 283,778

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 47,539 63,123
Trade creditors 24,001 23,881
Taxation and social security 91,466 66,969
Other creditors 19,129 16,290
182,135 170,263

NOW LEGAL LLP (REGISTERED NUMBER: OC321612)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans 1,667 11,556
Other creditors - 3,077
1,667 14,633