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Registration number: OC305531

Wilmot & Co Solicitors LLP
Unaudited Filleted Financial Statements
for the Year Ended 30 September 2025

Wilmot & Co Solicitors LLP

Contents

Limited liability partnership information | 1
Financial Statements | 2 to 7
Balance Sheet | 2
Notes to the Financial Statements | 3

Wilmot & Co Solicitors LLP

Limited liability partnership information

Designated members | P L G Nicholas M L Gray P M P Sharpe S E Endersby

Registered office | 38 Castle Street Cirencester Gloucestershire GL7 1QH

Bankers | Lloyds Bank Plc 16 Castle Street Cirencester GL7 1QJ

Accountants | Hazlewoods LLP Windsor House Bayshill Road Cheltenham GL50 3AT

Wilmot & Co Solicitors LLP

(Registration number: OC305531)
Balance Sheet as at 30 September 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 20,956 | 20,616
Current assets |  |  |
Debtors | 5 | 970,983 | 1,013,524
Cash and short-term deposits |  | 910,213 | 824,095
|  | 1,881,196 | 1,837,619
Creditors: Amounts falling due within one year | 6 | (252,967) | (205,509)
Net current assets |  | 1,628,229 | 1,632,110
Total assets less current liabilities |  | 1,649,185 | 1,652,726
Provisions for liabilities |  | (10,252) | -
Net assets attributable to members |  | 1,638,933 | 1,652,726
Represented by: |  |  |
Loans and other debts due to members |  |  |
Other amounts | 7 | 1,638,933 | 1,652,726
|  | 1,638,933 | 1,652,726
Total members' interests |  |  |
Loans and other debts due to members |  | 1,638,933 | 1,652,726
|  | 1,638,933 | 1,652,726

For the year ending 30 September 2025 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of Wilmot & Co Solicitors LLP (registered number OC305531) were approved by the Board and authorised for issue on 30 April 2026. They were signed on behalf of the limited liability partnership by:

......................................... S E Endersby Designated member

Wilmot & Co Solicitors LLP

Notes to the Financial Statements for the Year Ended 30 September 2025

1 | General information

The place of registration of the LLP is England and Wales under the Limited Liability Partnership Act 2000.

The address of the registered office is:
38 Castle Street
Cirencester
Gloucestershire
GL7 1QH

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The functional currency of Wilmot & Co Solicitors LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

The presentational currency of the financial statements is pounds sterling, being the functional currency of the primary economic environment in which the LLP operates. Monetary amounts in these financial statements are rounded to the nearest pound.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

In the application of the LLP's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Key sources of estimation uncertainty

Amounts recoverable on contracts - The process of assessing amounts recoverable on contracts requires various estimates and judgements to be made. Fee earners are required to record time spent on client assignments and this is used as the basis for the amounts recoverable on contracts estimate. A year end report of time on all assignments is circulated to fee earners to identify likely recoverable amounts. The carrying amount is £457,068 (2024 - £418,793).

Wilmot & Co Solicitors LLP

Notes to the Financial Statements for the Year Ended 30 September 2025

Revenue recognition

Fee income represents the fair value of services provided during the year on client assignments. Fair value reflects the amount expected to be recoverable from clients based on time spent, skills provided and expenses incurred, and excludes VAT. Income is recognised as contract activity progresses and the right to consideration is secured, except where the final outcome cannot be assessed with reasonable certainty.
Income in respect of contingent fees assignments is recognised in the period when the contingent event occurs and the collectability of the fee is assured.
Unbilled fee income on individual assignments is included as amounts recoverable on contracts within debtors.

Members' remuneration and division of profits

The profits of the LLP are automatically divided among the members in accordance with the agreed profit share arrangements.
A member's share of the profit or loss for the year is accounted for as an allocation of profits. The amounts owed to members would rank pari-passu in relation to other creditors who are unsecured in the event of a winding up.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class | Depreciation method and rate
Fixtures and fittings | 10% reducing balance basis
Office equipment | 33.3% straight line basis

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the LLP will not be able to collect all amounts due according to the original terms of the debtors.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the LLP does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Provisions

Provisions are recognised when the limited liability partnership has an obligation at the reporting date as a result of a past event, it is probable that the limited liability partnership will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

Wilmot & Co Solicitors LLP

Notes to the Financial Statements for the Year Ended 30 September 2025

Financial instruments

Classification

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a finance transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
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 limited liability partnership intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Recognition and Measurement

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:
(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.
(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.
(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).
(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.
(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.
(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).
Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.
With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.
Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Impairment of financial assets

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the LLP transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the LLP, despite having retained some significant risks and rewards of ownership, has transferred control of the asset to another party and the other party has the practical ability to sell the asset in its entirety to an unrelated third party and is able to exercise that ability unilaterally and without needing to impose additional restrictions on the transfer.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Wilmot & Co Solicitors LLP

Notes to the Financial Statements for the Year Ended 30 September 2025

3 | Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 20 (2024 - 21).

4 | Tangible fixed assets

| Fixtures and fittings £ | Office equipment £ | Total £
Cost |  |  |
At 1 October 2024 | 61,859 | 116,641 | 178,500
Additions | 1,353 | 5,222 | 6,575
At 30 September 2025 | 63,212 | 121,863 | 185,075
Depreciation |  |  |
At 1 October 2024 | 45,911 | 111,973 | 157,884
Charge for the year | 1,676 | 4,559 | 6,235
At 30 September 2025 | 47,587 | 116,532 | 164,119
Net book value |  |  |
At 30 September 2025 | 15,625 | 5,331 | 20,956
At 30 September 2024 | 15,948 | 4,668 | 20,616

5 | Debtors

| 2025 £ | 2024 £
Trade debtors | 390,995 | 449,518
Amounts recoverable on long term contracts | 457,068 | 418,793
Other debtors | 6,525 | 6,525
Prepayments and accrued income | 116,395 | 138,688
| 970,983 | 1,013,524

6 | Creditors: Amounts falling due within one year

| 2025 £ | 2024 £
Trade creditors | 34,954 | 43,504
Accruals and deferred income | 85,085 | 50,080
Taxation and social security | 132,928 | 111,925
| 252,967 | 205,509

7 | Analysis of other amounts

| 2025 £ | 2024 £
Money advanced to the LLP by the members by way of loan | 360,000 | 360,000
Money owed to members by the LLP in respect of profits | 1,278,933 | 1,292,726
| 1,638,933 | 1,652,726

Loans and other debts due to members are secured by way of a debenture dated 18 September 2020.

Wilmot & Co Solicitors LLP

Notes to the Financial Statements for the Year Ended 30 September 2025

8 | Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £84,180 (2024 - £143,420).