Chancellers LLP

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

Registered number: OC379490

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		396,377		416,987
Tangible Assets	5		44,814		79,029

			441,191		496,016
CURRENT ASSETS
Debtors	6	52,576		62,955
Cash at bank and in hand		16,315		9,877

		68,891		72,832
Creditors: Amounts Falling Due Within One Year	7	(83,954 )		(85,249 )

NET CURRENT ASSETS (LIABILITIES)			(15,063 )		(12,417 )

TOTAL ASSETS LESS CURRENT LIABILITIES			426,128		483,599

Creditors: Amounts Falling Due After More Than One Year	8		(1,132 )		(13,077 )

NET ASSETS ATTRIBUTABLE TO MEMBERS			424,996		470,522

REPRESENTED BY:
Loans and other debts due to members
Other amounts		424,996		470,522

			424,996		470,522

			424,996		470,522

TOTAL MEMBERS' INTEREST
Loans and other debts due to members			424,996		470,522

			424,996		470,522

Page 1

Page 2

Chancellers 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 R A Owen Designated Member	Mr N K Sarna Designated Member
29th December 2025

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

1. General Information

Chancellers LLP is a limited liability partnership, incorporated in England & Wales, registered number OC379490 . The Registered Office is 64 Wilbury Way, Hitchin, Herts, SG4 0TP.

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.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013 is being amortised evenly over it's estimated useful life of twenty years.

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:

Leasehold	0%
Motor Vehicles	25% on reducing value
Computer Equipment	25% on reducing value

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the LLP. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods.

The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was 9 (2024: 10)

Page 3

Page 4

Chancellers LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2024	734,390

As at 31 March 2025	734,390

Amortisation
As at 1 April 2024	317,403
Provided during the period	20,610

As at 31 March 2025	338,013

Net Book Value
As at 31 March 2025	396,377

As at 1 April 2024	416,987

5. Tangible Assets

	Land & Property
	Leasehold	Motor Vehicles	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 April 2024	5,085	141,823	40,172	187,080
Additions	-	-	927	927
Disposals	-	(57,000 )	-	(57,000 )

As at 31 March 2025	5,085	84,823	41,099	131,007

Depreciation
As at 1 April 2024	-	76,251	31,800	108,051
Provided during the period	-	10,272	2,017	12,289
Disposals	-	(34,147 )	-	(34,147 )

As at 31 March 2025	-	52,376	33,817	86,193

Net Book Value
As at 31 March 2025	5,085	32,447	7,282	44,814

As at 1 April 2024	5,085	65,572	8,372	79,029

Page 4

Page 5

Chancellers LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	52,576	62,955

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	8,982	8,982
Trade creditors	74,972	76,267

	83,954	85,249

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	1,132	13,077

9. Secured Creditors

The designated members have provided personal guarantees to Barclays Bank Plc in respect of the Partnership's banking facilities.

Of the creditors the following amounts are secured.

	2025		2024
	£		£
Net obligations under finance lease and hire purchase contracts	10,114		22,059

Page 5