REGISTERED NUMBER: OC349305 (England and Wales)

Report of the Members and

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Willis Welby LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

A J M Willis

D Heilbron

REGISTERED OFFICE:

13-17 Church Street

Esher

Surrey

KT10 8QS

REGISTERED NUMBER:

OC349305 (England and Wales)

ACCOUNTANTS:

Bennewith 2018 Limited

t/a A J Bennewith & Co

Upper Ground Floor

18 Farnham Road

Guildford

Surrey

GU1 4XA

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 provision of financial services.

DESIGNATED MEMBERS

The designated members for the year under review were:

A J M Willis

D Heilbron

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £32,347 (2024 - £33,370 profit).

MEMBERS' INTERESTS

Partners subscribe the entire capital of Willis Welby LLP, which they provide interest free. Therefore a proportion of the share of profits each partner receives can be considered as a return on capital employed.The amount of profit to be distributed to partners is determined after the year end.

Partners draw a proportion of their expected profit share during the year before the profits for the year have been determined, divided and allocated to them. Therefore by the year end their personal current accounts are in deficit. Any current accounts still in deficit after the profits have been allocated are shown in the Balance Sheet under "Amounts due from partners".

ON BEHALF OF THE MEMBERS:

A J M Willis - Designated member

1 December 2025

TURNOVER

176,508

197,714

Administrative expenses

145,243

164,910

OPERATING PROFIT

31,265

32,804

Interest receivable and similar income

1,082

566

PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

32,347

33,370

CURRENT ASSETS

Debtors

6

29,650

70,575

Cash at bank

91,138

37,811

120,788

108,386

CREDITORS

Amounts falling due within one year

7

(15,277

)

(9,173

)

NET CURRENT ASSETS

105,511

99,213

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

105,511

99,213

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

25,511

29,213

MEMBERS' OTHER INTERESTS

Capital accounts

80,000

70,000

105,511

99,213

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

25,511

29,213

Members' other interests

80,000

70,000

Amounts due from members

6

-

(15,000

)

105,511

84,213

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 1 December 2025 and were signed by:

A J M Willis - Designated member

1.	STATUTORY INFORMATION

Willis Welby 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

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

Plant and machinery etc

-

Straight line over 3 years

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.

3.	EMPLOYEE INFORMATION

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

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

and 31 March 2025

145,186

AMORTISATION

At 1 April 2024

and 31 March 2025

145,186

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

3,348

DEPRECIATION

At 1 April 2024

and 31 March 2025

3,348

NET BOOK VALUE

At 31 March 2025

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

20,700

26,752

Other debtors

8,950

43,823

29,650

70,575

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

247

2,393

Taxation and social security

1,200

-

Other creditors

13,830

6,780

15,277

9,173

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

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

There is no provision for specific legally enforceable protection afforded to creditors in such an event.

There are no restrictions or limitations on the ability of the members to reduce the amount of ‘Members’ other interests'.