Company No: OC441066 (England and Wales)

Contents

• Limited Liability Partnership Information
• Accountants' Report
• Balance Sheet
• Notes to the Financial Statements

Designated members	C J Bridges
	A C Butler-Ball
	D Hedley
	S K Padgham

Registered office	Delta House
	16 Bridge Road
	Haywards Heath
	RH16 1UA
	United Kingdom

Registered number

OC441066 (England and Wales)

Chartered accountants	Kreston Reeves LLP
	Projects Nile House
	Nile St
	Brighton
	BN1 1HW

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to Limited Liability Partnerships, we have prepared for your approval the financial statements of Tacit Legal LLP for the financial year ended 31 March 2025 which comprise the Balance Sheet, the and the related notes 1 to 8 from the LLP’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

It is your duty to ensure that Tacit Legal LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Tacit Legal LLP. You consider that Tacit Legal LLP is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Tacit Legal LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the members of Tacit Legal LLP, as a body, in accordance with the terms of our engagement letter dated 06 May 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Tacit Legal LLP and state those matters that we have agreed to state to members of Tacit Legal LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tacit Legal LLP and its members as a body for our work or for this report.

Kreston Reeves LLP
Chartered Accountants

Projects Nile House
Nile St
Brighton
BN1 1HW

14 October 2025

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	1,672		3,881
Investments	4	1		0
		1,673		3,881
Current assets
Stocks		7,064		6,289
Debtors	5	178,597		100,311
Cash at bank and in hand		109,834		139,567
		295,495		246,167
Creditors: amounts falling due within one year	6	( 148,793)		( 98,435)
Net current assets		146,702		147,732
Total assets less current liabilities		148,375		151,613
Net assets attributable to members		148,375		151,613
Represented by
Loans and other debts due to members within one year
Members' capital classified as a liability		0		36,000
		0		36,000
Members' other interests
Members' capital classified as equity		(313,790)		(161,790)
Other reserves		462,165		277,403
		148,375		115,613
		148,375		151,613
Total members' interests
Loans and other debts due to members		0		36,000
Members' other interests		148,375		115,613
		148,375		151,613

For the financial year ending 31 March 2025 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 Statement of Comprehensive Income has not been delivered.

The financial statements of Tacit Legal LLP (registered number: OC441066) were approved and authorised for issue by the Board of Directors on 09 October 2025. They were signed on its behalf by:

C J Bridges 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

Tacit Legal 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 Delta House, 16 Bridge Road, Haywards Heath, RH16 1UA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

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 Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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 plan for its employees. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the LLP in independently administered funds.

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so 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.

Work in progress

Work in progress comprises unbilled amounts for client work, measured at fair value less provisions for foreseeable losses.

Where work in progress relates to a contingent fee, this is not recognised within the financial statements except where it meets the criteria set out within the turnover note above.

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 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:

Office equipment

3 years straight line

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.

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.

Trade and other creditors

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 Company 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 Company 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 Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Transfer of members' interests

During the year £152,000 (2024 - £104,000) was transferred from members' capital interests to debts due to members.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the LLP during the year	5		5

3. Tangible assets

	Office equipment		Total
	£		£
Cost
At 01 April 2024	6,628		6,628
At 31 March 2025	6,628		6,628
Accumulated depreciation
At 01 April 2024	2,747		2,747
Charge for the financial year	2,209		2,209
At 31 March 2025	4,956		4,956
Net book value
At 31 March 2025	1,672		1,672
At 31 March 2024	3,881		3,881

4. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 April 2024	0
Additions	1
At 31 March 2025	1
Carrying value at 31 March 2025	1
Carrying value at 31 March 2024	0

Investments in shares

Name of entity	Registered office	Principal activity	Class of shares	Ownership 31.03.2025	Held
Tilder Technology Limited	Delta House, 16 Bridge Road, Haywards Heath, England, RH16 1UA	Business and domestic software development	Ordinary	100.00%	Direct

5. Debtors

	2025		2024
	£		£
Trade debtors	118,488		92,506
Amounts owed by own subsidiaries	35,260		0
Prepayments	19,899		7,805
Other debtors	4,950		0
	178,597		100,311

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	2,160		85
Accruals and deferred income	74,562		30,359
Other taxation and social security	67,617		60,425
Other creditors	4,454		7,566
	148,793		98,435

7. Financial commitments

Pensions

The LLP operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the LLP in an independently administered fund. The pension cost charge represents contributions payable by the LLP to the fund and amounted to £3,908 (2024 - £3,650). Contributions totalling £566 (2024 - £533) were payable to the fund at the balance sheet date and are included in creditors.

8. Related party transactions

Transactions with entities in which the entity itself has a participating interest

	2025		2024
	£		£
Tilder Technology Limited	35,260		0

During the year the company provided Tilder Technology Limited with an interest free loan. At the balance sheet date the amount due from Tilder Technology Limited was £35,260 (2024: £nil).