REGISTERED NUMBER: OC382130 (England and Wales)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

GOODMAN RAY SOLICITORS LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

Designated members:

Ms J Dally

Ms T Featherstone

Ms P R Ray

Registered office:

Francis Barber House

9 Gough Square

London

EC4A 3DG

Registered number:

OC382130 (England and Wales)

Accountants:

Rock Tax & Accounting Ltd

69 High Street

Southgate

London

N14 6LD

The members present their report with the financial statements of the LLP for the year ended 31 March 2025.

Principal activity

The principal activity of the LLP in the year under review was that of the provision of legal services.

Designated members

The designated members during the year under review were:

Ms J Dally

Ms T Featherstone

Ms P R Ray

Results for the year and allocation to members

The profit for the year before members' remuneration and profit shares was £1,174,845 (2024 - £796,363 profit).

Members' interests

Each member's subscription to the capital of the LLP is determined by their share of the profit and is repayable following retirement from the LLP.

Details of changes in members' capital in the year ended 31 March 2024 are set out in the Reconciliation of Members' Interests.

Members are remunerated from the profits of the LLP and are required to make their own provision for pensions and other benefits. Profits are allocated and divided between members after finalisation of the financial statements. Members draw a proportion of their profit shares monthly during the year in which it is made, with the balance of profits being distributed after the year, subject to the cash requirements of the business.

On behalf of the members:

Ms T Featherstone - Designated member

20 October 2025

Turnover

5,311,336

4,577,247

Administrative expenses

4,237,478

3,779,923

1,073,858

797,324

Other operating income

92,034

-

Operating profit

4

1,165,892

797,324

Interest receivable and similar income

17,128

9,528

1,183,020

806,852

Interest payable and similar expenses

8,175

10,489

Profit for the financial year before members' remuneration and profit shares

1,174,845

796,363

Profit for the financial year before members' remuneration and profit shares

1,174,845

796,363

Members' remuneration charged as an expense

5

(1,174,845

)

(796,363

)

Profit for the financial year available for discretionary division among members

-

-

Fixed assets

Tangible assets

6

43,444

56,172

Current assets

Stocks

1,135,746

1,348,863

Debtors

7

1,420,225

995,832

Cash at bank and in hand

104,298

82,963

2,660,269

2,427,658

Creditors

Amounts falling due within one year

8

1,316,124

1,131,679

Net current assets

1,344,145

1,295,979

Total assets less current liabilities

and

Net assets attributable to members

1,387,589

1,352,151

Creditors

Amounts falling due after more than one year

9

17,611

23,215

Loans and other debts due to members

10

1,369,978

1,328,936

Total members' interests

Loans and other debts due to members

10

1,369,978

1,328,936

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.

The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 20 October 2025 and were signed by:

Ms T Featherstone - Designated member

1.	Statutory information

Goodman Ray Solicitors 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.

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Rendering of services

Revenue 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 revenue 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.

Tangible fixed assets

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

Land and buildings

-

straight line over 3 years

Plant and machinery etc

-

3-5 years

Work in progress

Work in progress is stated at the estimated selling price less costs to complete and sell. Work in progress include labour and attributable overheads.

At each balance sheet date, work in progress is assessed for recoverability and impairment. If work in progress is impaired, the carrying amount is reduced to its recoverable value. The impairment loss is recognised immediately in profit and loss.

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.

3.	Employee information

The average number of employees during the year was 41 (2024 - 41 ) .

4.	Operating profit

The operating profit is stated after charging:

Period

1.5.23

Year Ended

to

31.3.25

31.3.24

£

£

Depreciation - owned assets

25,074

22,087

5.	Information in relation to members

Period

1.5.23

Year Ended

to

31.3.25

31.3.24

£

£

Members' remuneration charged as an expense

Automatic division of profit

1,174,845

796,363

6.	Tangible fixed assets

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Cost

At 1 April 2024

118,607

123,112

241,719

Additions

-

12,833

12,833

Disposals

-

(731

)

(731

)

At 31 March 2025

118,607

135,214

253,821

Depreciation

At 1 April 2024

118,607

66,940

185,547

Charge for year

-

25,074

25,074

Eliminated on disposal

-

(244

)

(244

)

At 31 March 2025

118,607

91,770

210,377

Net book value

At 31 March 2025

-

43,444

43,444

At 31 March 2024

-

56,172

56,172

7.

Debtors: amounts falling due within one year

31.3.25

31.3.24

£

£

Trade debtors

853,854

540,802

Other debtors

566,371

455,030

1,420,225

995,832

8.

Creditors: amounts falling due within one year

31.3.25

31.3.24

£

£

Bank loans and overdrafts

14,917

31,608

Trade creditors

507,106

393,733

Taxation and social security

309,921

253,598

Other creditors

484,180

452,740

1,316,124

1,131,679

9.

Creditors: amounts falling due after more than one year

31.3.25

31.3.24

£

£

Bank loans

3,333

13,333

Other creditors

14,278

9,882

17,611

23,215

10.

Loans and other debts due to members

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