Ringley Law LLP

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: OC357099

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Investments	6		20		20

			20		20
CURRENT ASSETS
Debtors	7	144,037		211,057

		144,037		211,057
Creditors: Amounts Falling Due Within One Year	8	(146,676 )		(116,101 )

NET CURRENT ASSETS (LIABILITIES)			(2,639 )		94,956

TOTAL ASSETS LESS CURRENT LIABILITIES			(2,619 )		94,976

Creditors: Amounts Falling Due After More Than One Year			(35,281 )		(94,976 )

NET LIABILITIES ATTRIBUTABLE TO MEMBERS			(37,900 )		-

REPRESENTED BY:
Equity
Members' other interests
Other reserves		(37,900)		-

			(37,900)		-

TOTAL MEMBERS' INTEREST
Amounts due from members			(73,084)		(121,946)
Members' other interests			(37,900)		-

			(110,984)		(121,946)

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Ringley Law LLP

Balance Sheet (continued)

As At 31 March 2025

For the 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 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

On behalf of the members

Mr Lee Harle

Designated Member

31/07/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Ringley Law LLP is a limited liability partnership, incorporated in England & Wales, registered number OC357099 . The Registered Office is 1 Castle Road, London, NW1 8PR.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Research and Development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% reducing balance
Fixtures & Fittings	25% reducing balance
Computer Equipment	33% reducing balance

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: 8 (2024: 6)

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Ringley Law LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Intangible Assets

	Development Costs
	£
Cost
As at 1 April 2024	244,798

As at 31 March 2025	244,798

Amortisation
As at 1 April 2024	244,798

As at 31 March 2025	244,798

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	-

5. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 April 2024	8,794	10,755	19,549

As at 31 March 2025	8,794	10,755	19,549

Depreciation
As at 1 April 2024	8,794	10,755	19,549

As at 31 March 2025	8,794	10,755	19,549

Net Book Value
As at 31 March 2025	-	-	-

As at 1 April 2024	-	-	-

6. Investments

	Other
	£
Cost
As at 1 April 2024	20

As at 31 March 2025	20

Provision
As at 1 April 2024	-

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	20

As at 1 April 2024	20

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Ringley Law LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	70,953	89,111
Amounts due from members	73,084	121,946

	144,037	211,057

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	28,712	52,759
Bank loans and overdrafts	8,627	31,345
Other taxes and social security	5,571	5,145
VAT	46,473	31,852
Accruals and deferred income	57,293	(5,000 )

	146,676	116,101

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