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REGISTERED NUMBER: OC308339 (England and Wales)

REPORT OF THE MEMBERS AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

FOR

CLEAR LAW LLP

CLEAR LAW LLP (REGISTERED NUMBER: OC308339)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Page |

General Information | 1 |

Report of the Members | 2 |

Report of the Independent Auditors | 4 |

Income Statement | 7 |

Other Comprehensive Income | 8 |

Balance Sheet | 9 |

Reconciliation of Members' Interests | 10 |

Cash Flow Statement | 12 |

Notes to the Cash Flow Statement | 13 |

Notes to the Financial Statements | 15 |

CLEAR LAW LLP

GENERAL INFORMATION

FOR THE YEAR ENDED 30 SEPTEMBER 2025

| DESIGNATED MEMBERS: | M Corbett

| Clear Legal Limited

| REGISTERED OFFICE: | Units 115-119 Timber Wharf

| 42-50 Worsley Street

| Castlefield

| Manchester

| M15 4LD

| REGISTERED NUMBER: | OC308339 (England and Wales)

| AUDITORS: | D.R.E. & Co. (Audit) Limited

| Kingsland House

| 39 Abbey Foregate

| Shrewsbury

| Shropshire

| SY2 6BL

CLEAR LAW LLP (REGISTERED NUMBER: OC308339)

REPORT OF THE MEMBERS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

The members present their report with the financial statements of the LLP for the year ended 30 September 2025.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of the provision of legal services.

DESIGNATED MEMBERS

M Corbett

Clear Legal Limited

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £689,442 (2024 - £552,200 profit).

MEMBERS' INTERESTS

Each of the members holds an interest in the LLP in accordance with the amount or value of any contribution made or to be made by them.

Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at a level which takes into account the anticipated cash needs of the LLP.

Members' capital accounts are repayable on demand.

STATEMENT OF MEMBERS' RESPONSIBILITIES

The members are responsible for preparing the Report of the Members and the financial statements in accordance with applicable law and regulations.

Legislation applicable to limited liability partnerships requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under legislation applicable to limited liability partnerships the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period. In preparing these financial statements, the members are required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business.

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the members are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the LLP's auditors are unaware, and each member has taken all the steps that he ought to have taken as a member in order to make himself aware of any relevant audit information and to establish that the LLP's auditors are aware of that information.

CLEAR LAW LLP (REGISTERED NUMBER: OC308339)

REPORT OF THE MEMBERS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

AUDITORS

The auditors, D.R.E. & Co. (Audit) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE MEMBERS:

M Corbett - Designated member

24 June 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CLEAR LAW LLP

Opinion

We have audited the financial statements of Clear Law LLP (the 'LLP') for the year ended 30 September 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Reconciliation of Members' Interests, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the LLP's affairs as at 30 September 2025 and of its profit for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance 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.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the LLP in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the members' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the LLP's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the members with respect to going concern are described in the relevant sections of this report.

Other information

The members are responsible for the other information. The other information comprises the information in the Report of the Members, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Companies Act 2006 as applied to LLPs requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- | the financial statements are not in agreement with the accounting records and returns; or

- | we have not received all the information and explanations we require for our audit.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CLEAR LAW LLP

Responsibilities of members

As explained more fully in the Statement of Members' Responsibilities set out on page two, the members are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the members determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the members are responsible for assessing the LLP's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the members either intend to liquidate the LLP or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the LLP through discussions with designated members and other management, and from our commercial knowledge and experience of the legal sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the LLP, including the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, taxation legislation, employment, environmental, health and safety legislation and the Solicitors Regulation Authority (SRA) Standards and Regulations.

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the LLP's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to their knowledge of actual, suspected and alleged fraud.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates set out in Note 3 were indicative of potential bias;

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- enquiring of management as to actual and potential litigation and claims;

- reviewing correspondence with HMRC and relevant regulators (The Solicitors Regulation Authority).

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the designated members and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CLEAR LAW LLP

Use of our report

This report is made solely to the LLP's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. Our audit work has been undertaken so that we might state to the LLP's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and the LLP's members as a body, for our audit work, for this report, or for the opinions we have formed.

Francis Nock F.C.C.A. (Senior Statutory Auditor)

for and on behalf of D.R.E. & Co. (Audit) Limited

Kingsland House

39 Abbey Foregate

Shrewsbury

Shropshire

SY2 6BL

24 June 2026

CLEAR LAW LLP (REGISTERED NUMBER: OC308339)

INCOME STATEMENT

FOR THE YEAR ENDED 30 SEPTEMBER 2025

| 30.9.25 |  | 30.9.24

| Notes | £ | £ |

TURNOVER | 6,290,818 |  | 6,449,655 |  |

Cost of sales | (451,880 | ) | (982,537 | ) |

GROSS PROFIT | 5,838,938 |  | 5,467,118 |  |

Administrative expenses | (4,440,785 | ) | (4,382,860 | ) |

OPERATING PROFIT | 5 | 1,398,153 |  | 1,084,258 |  |

Interest receivable and similar income | 5,926 |  | 15,460 |  |

1,404,079 |  | 1,099,718 |  |

Interest payable and similar expenses | 7 | (714,637 | ) | (547,518 | ) |

PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS | 689,442 |  | 552,200 |  |

CLEAR LAW LLP (REGISTERED NUMBER: OC308339)

OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 30 SEPTEMBER 2025

| 30.9.25 |  | 30.9.24

| Notes | £ | £ |

PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS | 689,442 |  | 552,200 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 689,442 |  | 552,200 |  |

CLEAR LAW LLP (REGISTERED NUMBER: OC308339)

BALANCE SHEET

30 SEPTEMBER 2025

| 30.9.25 | 30.9.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 9 | 2,433,750 |  | 2,585,396 |  |

CURRENT ASSETS

Debtors | 10 | 17,168,886 |  | 16,734,104 |  |

CREDITORS

Amounts falling due within one year | 11 | 16,841,551 |  | 15,677,372 |  |

NET CURRENT ASSETS | 327,335 |  | 1,056,732 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,761,085 |  | 3,642,128 |  |

CREDITORS

Amounts falling due after more than one year | 12 | 1,737,729 |  | 2,346,181 |  |

NET ASSETS ATTRIBUTABLE TO MEMBERS | 1,023,356 |  | 1,295,947 |  |

LOANS AND OTHER DEBTS DUE TO MEMBERS | 16 | 401,843 |  | 658,896 |  |

MEMBERS' OTHER INTERESTS

Revaluation reserve | 17 | 621,513 |  | 637,051 |  |

1,023,356 |  | 1,295,947 |  |

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members | 16 | 401,843 |  | 658,896 |  |

Members' other interests | 621,513 |  | 637,051 |  |

Amounts due from members | 10 | (81,118 | ) | (181,118 | ) |

942,238 |  | 1,114,829 |  |

The financial statements were approved by the members of the LLP and authorised for issue on 24 June 2026 and were signed by:

M Corbett - Designated member

CLEAR LAW LLP (REGISTERED NUMBER: OC308339)

RECONCILIATION OF MEMBERS' INTERESTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

| EQUITY

| Members' other interests

| Revaluation |  | Other |

| reserve |  | reserves |  | Total

£ | £ | £ |

Balance at 1 October 2024 | 637,051 |  | - |  | 637,051 |  |

Profit for the financial year available for discretionary division among members | - |  | 689,442 |  | 689,442 |  |

Members' interests after profit for the year | 637,051 |  | 689,442 |  | 1,326,493 |  |

Other divisions of profit | - |  | (689,442 | ) | (689,442 | ) |

Release of revaluation reserve | (15,538 | ) | - |  | (15,538 | ) |

Introduced by members | - |  | - |  | - |  |

Drawings on account and distributions of profit | - |  | - |  | - |  |

Loans to members | - |  | - |  | - |  |

Balance at 30 September 2025 | 621,513 |  | - |  | 621,513 |  |

| DEBT | TOTAL

| Loans and other debts due to | MEMBERS'

| members less any amounts due | INTERESTS

| from members in debtors |

| Other |

| amounts |  | Total

£ | £ |

Amount due to members | 658,896 |  |

Amount due from members | - |  |

Balance at 1 October 2024 | 658,896 |  | 1,295,947 |  |

Profit for the financial year available for discretionary division among members | - |  | 689,442 |  |

Members' interests after profit for the year | 658,896 |  | 1,985,389 |  |

Other divisions of profit | 689,442 |  | - |  |

Release of revaluation reserve | - |  | (15,538 | ) |

Introduced by members | 325,469 |  | 325,469 |  |

Drawings on account and distributions of profit | (1,271,964 | ) | (1,271,964 | ) |

Loans to members | (81,118 | ) | (81,118 | ) |

Amount due to members | 401,843 |  |

Amount due from members | (81,118 | ) |

Balance at 30 September 2025 | 320,725 |  | 942,238 |  |

CLEAR LAW LLP (REGISTERED NUMBER: OC308339)

RECONCILIATION OF MEMBERS' INTERESTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

| EQUITY

| Members' other interests

| Revaluation |  | Other |

| reserve |  | reserves |  | Total

£ | £ | £ |

Balance at 1 October 2023 | 652,589 |  | - |  | 652,589 |  |

Profit for the financial year available for discretionary division among members | - |  | 552,200 |  | 552,200 |  |

Members' interests after profit for the year | 652,589 |  | 552,200 |  | 1,204,789 |  |

Other divisions of profit | - |  | (552,200 | ) | (552,200 | ) |

Release of revaluation reserve | (15,538 | ) | - |  | (15,538 | ) |

Introduced by members | - |  | - |  | - |  |

Drawings on account and distributions of profit | - |  | - |  | - |  |

Loans to members | - |  | - |  | - |  |

Balance at 30 September 2024 | 637,051 |  | - |  | 637,051 |  |

| DEBT | TOTAL

| Loans and other debts due to | MEMBERS'

| members less any amounts due | INTERESTS

| from members in debtors |

| Other |

| amounts |  | Total

£ | £ |

Amount due to members | 1,192,001 |  |

Amount due from members | - |  |

Balance at 1 October 2023 | 1,192,001 |  | 1,844,590 |  |

Profit for the financial year available for discretionary division among members | - |  | 552,200 |  |

Members' interests after profit for the year | 1,192,001 |  | 2,396,790 |  |

Other divisions of profit | 552,200 |  | - |  |

Release of revaluation reserve | - |  | (15,538 | ) |

Introduced by members | 15,538 |  | 15,538 |  |

Drawings on account and distributions of profit | (1,100,843 | ) | (1,100,843 | ) |

Loans to members | (181,118 | ) | (181,118 | ) |

Amount due to members | 658,896 |  |

Amount due from members | (181,118 | ) |

Balance at 30 September 2024 | 477,778 |  | 1,114,829 |  |

CLEAR LAW LLP (REGISTERED NUMBER: OC308339)

CASH FLOW STATEMENT

FOR THE YEAR ENDED 30 SEPTEMBER 2025

| 30.9.25 |  | 30.9.24

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 2 | 1,399,881 |  | 2,084,743 |  |

Interest paid | (691,113 | ) | (524,995 | ) |

Interest element of hire purchase payments paid | (23,524 | ) | (22,523 | ) |

Net cash from operating activities | 685,244 |  | 1,537,225 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (7,561 | ) | (13,580 | ) |

Sale of tangible fixed assets | 49,449 |  | 51,350 |  |

Interest received | 5,926 |  | 15,460 |  |

Net cash from investing activities | 47,814 |  | 53,230 |  |

Transactions with members and former | members |

Payments to members | (1,271,964 | ) | (1,100,843 | ) |

Contributions by members | 451,425 |  | - |  |

(820,539 | ) | (1,100,843 | ) |

Cash flows from other financing activities

New loans in year | 1,731,338 |  | 584,283 |  |

Loan repayments in year | (1,657,796 | ) | (827,863 | ) |

Capital repayments in year | (76,940 | ) | (116,341 | ) |

(3,398 | ) | (359,921 | ) |

Net cash from financing activities | (823,937 | ) | (1,460,764 | ) |

(Decrease)/increase in cash and cash equivalents | (90,879 | ) | 129,691 |  |

Cash and cash equivalents at beginning of year | 3 | (434,449 | ) | (564,140 | ) |

Cash and cash equivalents at end of year | 3 | (525,328 | ) | (434,449 | ) |

CLEAR LAW LLP (REGISTERED NUMBER: OC308339)

NOTES TO THE CASH FLOW STATEMENT

FOR THE YEAR ENDED 30 SEPTEMBER 2025

1. | CLASSIFICATION OF SHARE OF PROFITS IN THE CASH FLOW STATEMENT

| The LLP classifies discretionary distributions of profits as financing cash flows.

2. | RECONCILIATION OF PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS TO CASH GENERATED FROM OPERATIONS

| 30.9.25 |  | 30.9.24

£ | £ |

| Profit for the financial year before members' remuneration and profit shares available for discretionary division among members | 689,442 |  | 552,200 |  |

| Depreciation charges | 109,768 |  | 158,671 |  |

| (Profit)/loss on disposal of fixed assets | (10 | ) | 10,251 |  |

| Finance costs | 714,637 |  | 547,518 |  |

| Finance income | (5,926 | ) | (15,460 | ) |

1,507,911 |  | 1,253,180 |  |

| Increase in trade and other debtors | (534,782 | ) | (1,051,270 | ) |

| Increase in trade and other creditors | 426,752 |  | 1,882,833 |  |

| Cash generated from operations | 1,399,881 |  | 2,084,743 |  |

3. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 30 September 2025

| 30.9.25 |  | 1.10.24

£ | £ |

| Bank overdrafts | (525,328 | ) | (434,449 | ) |

| Year ended 30 September 2024

| 30.9.24 |  | 1.10.23

£ | £ |

| Bank overdrafts | (434,449 | ) | (564,140 | ) |

CLEAR LAW LLP (REGISTERED NUMBER: OC308339)

NOTES TO THE CASH FLOW STATEMENT

FOR THE YEAR ENDED 30 SEPTEMBER 2025

4. | ANALYSIS OF CHANGES IN NET DEBT

| Other |

| non-cash |

| At 1.10.24 | Cash flow | changes | At 30.9.25

£ | £ | £ | £ |

| Net cash |

| Bank overdrafts | (434,449 | ) | (90,879 | ) | (525,328 | ) |

(434,449 | ) | (90,879 | ) | (525,328 | ) |

| Debt

| Finance leases | (297,878 | ) | 76,940 |  | - |  | (220,938 | ) |

| Debts falling due

| within 1 year | (533,399 | ) | (199,511 | ) | - |  | (732,910 | ) |

| Debts falling due

| after 1 year | (499,322 | ) | 125,968 |  | - |  | (373,354 | ) |

(1,330,599 | ) | 3,397 |  | - |  | (1,327,202 | ) |

| Net debt (before

| members' debt) | (1,765,048 | ) | (87,482 | ) | - |  | (1,852,530 | ) |

| Loans and other debts

| due to members

| Other amounts

| due to members | (658,896 | ) | 1,027,613 |  | (770,560 | ) | (401,843 | ) |

| Net debt | (2,423,944 | ) | 940,131 |  | (770,560 | ) | (2,254,373 | ) |

CLEAR LAW LLP (REGISTERED NUMBER: OC308339)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

1. | STATUTORY INFORMATION

| Clear Law 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. | STATEMENT OF COMPLIANCE

| 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" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| The financial statements are for the individual entity only.

| The financial statements are presented in sterling (£), rounded to the nearest £1.

| Going concern

| Due to the nature of the activities undertaken and which is common in this industry the length of time that is often necessary to successfully conclude cases, the business operations rely on significant working capital facilities. The business uses a small number of providers of finance to provide these working capital facilities. Whilst many of these facilities are repayable on demand, the business has received no indication that these facilities would not be renewed when required and on ordinary terms.

| The partners are satisfied that they carried out appropriate reviews and considered these matters along with post year end trading and future work flows, to ensure that the they are able to conclude that the going concern basis of preparation is appropriate. The partners are satisfied that sufficient working capital facilities are available to cover funding requirements for the next 12 months and beyond.

| Significant judgements and estimates

| The LLP makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

| The LLP makes an estimate of the turnover to be recognised in respect of long-term contracts and contracts for on-going services. When assessing the turnover to be recognised, management considers the number of on-going cases, the nature of the cases and the expected value of the work. Management make judgements regarding the stage of completion of on-going cases in calculating the value of turnover to be recognised. The amount by which recorded turnover is in excess of payments on account is classified as amounts recoverable on contract and disclosed within debtors (note 10). Amounts recoverable on contract includes disbursements in respect of on-going cases. Management make an estimate of the recoverable value of disbursements, considering factors including the expected recoverability of related work in progress balances, the ageing profile of the disbursements and expected receipts from applicable debtor insurance policies.

| The LLP makes and estimate of the recoverable value of debtors. When assessing impairment of trade debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See note 10 for the net carrying amount of debtors.

CLEAR LAW LLP (REGISTERED NUMBER: OC308339)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

3. | ACCOUNTING POLICIES - continued

| Turnover

| Turnover represents amounts derived from the provision of services to clients during the year, excluding discounts, rebates, value added tax and other sales taxes and including estimates of amounts not invoiced. Revenue in respect of long-term contracts and contracts for on-going services is recognised in the income statement by reference to the stage of completion at the period end, provided that a right to consideration has been obtained through performance. Consideration accrues as contract activity progresses by reference to the value of work performed.

| Tangible fixed assets

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

| Long leasehold property - 2% on cost

| Computer equipment - 15% on cost and over the term of the lease

| Fixtures and fittings - 15% on cost

| Motor vehicles - 25% and 33% on cost less residual value

| Long leasehold property is stated at valuation. All other tangible fixed assets are stated at historic cost less accumulated depreciation. Costs include original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

| Financial instruments

| (i) Financial assets

| Basic financial assets, including trade receivables, amounts due from group undertakings and cash and bank balances, are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit or loss.

| Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards or control of the ownership of the asset are transferred to another party.

| (ii) Financial liabilities

| Basic financial liabilities, including trade payables, amounts due to group undertakings and bank and other loans, are initially recognised at transaction price and subsequently carried at amortised cost.

| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| Pension costs and other post-retirement benefits

| The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

CLEAR LAW LLP (REGISTERED NUMBER: OC308339)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

3. | ACCOUNTING POLICIES - continued

| Amounts recoverable on contract

| Contracts for services have been accounted for as long term contracts where contract activity falls into different accounting periods. The amount recorded as turnover is ascertained by reference to the value of the work carried out to date, as described in the turnover accounting policy. The amount by which recorded turnover is in excess of payments on account is classified as amounts recoverable on contract. Amounts recoverable on contract also includes disbursements in respect of on-going cases. A provision is included at the balance sheet date for expected non-recoverable client balances and disbursements.

| Members' remuneration

| A member's share in the profit or loss for the year is accounted for as an allocation of profits.

| Leases

| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

4. | EMPLOYEE INFORMATION

| 30.9.25 |  | 30.9.24

£ | £ |

| Wages and salaries | 1,996,515 |  | 2,017,556 |  |

| Social security costs | 251,995 |  | 239,592 |  |

| Other pension costs | 39,932 |  | 39,062 |  |

2,288,442 |  | 2,296,210 |  |

| The average number of employees during the year was as follows:

| 30.9.25 |  | 30.9.24

| Average number of employees | 40 |  | 41 |  |

5. | OPERATING PROFIT

| The operating profit is stated after charging/(crediting):

| 30.9.25 |  | 30.9.24

£ | £ |

| Depreciation - owned assets | 76,951 |  | 85,740 |  |

| Depreciation - assets on hire purchase contracts | 32,817 |  | 72,931 |  |

| (Profit)/loss on disposal of fixed assets | (10 | ) | 10,251 |  |

| Operating leases | 33,307 |  | 21,458 |  |

6. | AUDITORS' REMUNERATION

| 30.9.25 |  | 30.9.24

£ | £ |

| Fees payable to the LLP's auditors for the audit of the LLP's financial statements | 18,414 |  | 40,028 |  |

| Auditors' remuneration for non audit work | 11,151 |  | 13,995 |  |

CLEAR LAW LLP (REGISTERED NUMBER: OC308339)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

7. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 30.9.25 |  | 30.9.24

£ | £ |

| Bank loan interest | 79,473 |  | 108,381 |  |

| Other loan interest | 542,586 |  | 397,775 |  |

| PAYE interest | 28,233 |  | - |  |

| Case funding charges | 40,821 |  | 18,839 |  |

| Hire purchase | 23,524 |  | 22,523 |  |

714,637 |  | 547,518 |  |

8. | INFORMATION IN RELATION TO MEMBERS

| 30.9.25 |  | 30.9.24

£ | £ |

| The amount of profit attributable to the member with the largest entitlement was | 449,255 |  | 300,357 |  |

| 30.9.25 |  | 30.9.24

| The average number of members during the year was | 3 |  | 4 |  |

9. | TANGIBLE FIXED ASSETS

| Fixtures |

| Long |  | and |  | Motor |  | Computer |

| leasehold |  | fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| COST OR VALUATION

| At 1 October 2024 | 2,338,305 |  | 446,917 |  | 422,929 |  | 145,543 |  | 3,353,694 |  |

| Additions | - |  | 2,401 |  | - |  | 5,160 |  | 7,561 |  |

| Disposals | - |  | - |  | (100,830 | ) | - |  | (100,830 | ) |

| At 30 September 2025 | 2,338,305 |  | 449,318 |  | 322,099 |  | 150,703 |  | 3,260,425 |  |

| DEPRECIATION

| At 1 October 2024 | 108,711 |  | 417,143 |  | 116,602 |  | 125,842 |  | 768,298 |  |

| Charge for year | 54,374 |  | 17,559 |  | 32,817 |  | 5,018 |  | 109,768 |  |

| Eliminated on disposal | - |  | - |  | (51,391 | ) | - |  | (51,391 | ) |

| At 30 September 2025 | 163,085 |  | 434,702 |  | 98,028 |  | 130,860 |  | 826,675 |  |

| NET BOOK VALUE

| At 30 September 2025 | 2,175,220 |  | 14,616 |  | 224,071 |  | 19,843 |  | 2,433,750 |  |

| At 30 September 2024 | 2,229,594 |  | 29,774 |  | 306,327 |  | 19,701 |  | 2,585,396 |  |

CLEAR LAW LLP (REGISTERED NUMBER: OC308339)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

9. | TANGIBLE FIXED ASSETS - continued

| Cost or valuation at 30 September 2025 is represented by:

| Fixtures |

| Long |  | and |  | Motor |  | Computer |

| leasehold |  | fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| Valuation in 2022 | 487,396 |  | - |  | - |  | - |  | 487,396 |  |

| Cost | 1,850,909 |  | 449,318 |  | 322,099 |  | 150,703 |  | 2,773,029 |  |

2,338,305 |  | 449,318 |  | 322,099 |  | 150,703 |  | 3,260,425 |  |

| If long leasehold property had not been revalued it would have been included at the following historical cost:

| 30.9.25 |  | 30.9.24

£ | £ |

| Cost | 1,850,909 |  | 1,850,909 |  |

| Aggregate depreciation | 328,754 |  | 291,736 |  |

| Long leasehold property was valued on an open market basis on 30 September 2022 by the members .

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST OR VALUATION

| At 1 October 2024 | 422,929 |  | 108,411 |  | 531,340 |  |

| Disposals | (100,830 | ) | - |  | (100,830 | ) |

| Transfer to ownership | - |  | (108,411 | ) | (108,411 | ) |

| At 30 September 2025 | 322,099 |  | - |  | 322,099 |  |

| DEPRECIATION

| At 1 October 2024 | 116,602 |  | 108,411 |  | 225,013 |  |

| Charge for year | 32,817 |  | - |  | 32,817 |  |

| Eliminated on disposal | (51,391 | ) | - |  | (51,391 | ) |

| Transfer to ownership | - |  | (108,411 | ) | (108,411 | ) |

| At 30 September 2025 | 98,028 |  | - |  | 98,028 |  |

| NET BOOK VALUE

| At 30 September 2025 | 224,071 |  | - |  | 224,071 |  |

| At 30 September 2024 | 306,327 |  | - |  | 306,327 |  |

CLEAR LAW LLP (REGISTERED NUMBER: OC308339)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.9.25 |  | 30.9.24

£ | £ |

| Amounts due from members | 81,118 |  | 181,118 |  |

| Amounts recoverable on contract | 15,966,932 |  | 14,721,409 |  |

| Amounts recoverable on

| contract subject to case

| funding facility | 668,310 |  | 482,412 |  |

| Other debtors | 2,936 |  | 2,345 |  |

| Amounts held on behalf of

| clients | 260,681 |  | 962,174 |  |

| Prepayments | 188,909 |  | 384,646 |  |

17,168,886 |  | 16,734,104 |  |

11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.9.25 |  | 30.9.24

£ | £ |

| Bank loans and overdrafts (see note 13) | 629,164 |  | 532,376 |  |

| Other loans (see note 13) | 629,074 |  | 435,472 |  |

| Hire purchase contracts (see note 14) | 21,563 |  | 207,257 |  |

| Trade creditors | 8,797,504 |  | 9,273,266 |  |

| Amounts owed to participating interests | 3,578,726 |  | 2,315,178 |  |

| Social security and other taxes | 341,181 |  | 332,651 |  |

| Other creditors | 1,789,123 |  | 997,613 |  |

| Amounts due to clients | 260,681 |  | 962,174 |  |

| Case funding facility | 752,689 |  | 540,135 |  |

| Accrued expenses | 41,846 |  | 81,250 |  |

16,841,551 |  | 15,677,372 |  |

12. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 30.9.25 |  | 30.9.24

£ | £ |

| Bank loans (see note 13) | 360,854 |  | 470,599 |  |

| Other loans (see note 13) | 12,500 |  | 28,723 |  |

| Hire purchase contracts (see note 14) | 199,375 |  | 90,621 |  |

| Amounts owed to participating interests | 1,165,000 |  | 1,165,000 |  |

| Matter funding facility | - |  | 591,238 |  |

1,737,729 |  | 2,346,181 |  |

CLEAR LAW LLP (REGISTERED NUMBER: OC308339)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

13. | LOANS

| An analysis of the maturity of loans is given below:

| 30.9.25 |  | 30.9.24

£ | £ |

| Amounts falling due within one year or on demand:

| Bank overdrafts | 525,328 |  | 434,449 |  |

| Bank loans | 103,836 |  | 97,927 |  |

| Loans | 629,074 |  | 435,472 |  |

1,258,238 |  | 967,848 |  |

| Amounts falling due between one and two years:

| Bank loans - 1-2 years | 69,461 |  | 97,927 |  |

| Loans | 12,500 |  | 28,723 |  |

81,961 |  | 126,650 |  |

| Amounts falling due between two and five years:

| Bank loans - 2-5 years | 199,008 |  | 184,406 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans | 92,385 |  | 188,266 |  |

| Bank loans include a Royal Bank of Scotland plc loan of £1,023,000, drawn down in a prior year and repayable by monthly instalments ending in October 2030. Interest is charged at 2.75% above the Royal Bank of Scotland plc base rate. At the year end, the balance outstanding was £424,065 (2024: £490,401).

| Other loans includes five loans from White Oak UK Limited taken out in the current and prior years. All loans are repayable by monthly instalments with interest charged at varying rates from 10.94% to 47.48% and all loans will be repaid by September 2026. At the year end, the total balance outstanding to White Oak UK (CBILS) Limited was £369,289 (2024: £232,706 relating to prior year loans).

| Creditors includes amounts due to Verus Cost Funding of £892,689 (2024: £690,135) and Doorway Capital Limited of £447,620 (2024: £802,386) in respect of profit cost funding.

| The following balances are included within other creditors in respect of disbursement funding facilities: PRL Legal Funding Limited £738,776; ARAG plc £294,698.

CLEAR LAW LLP (REGISTERED NUMBER: OC308339)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

14. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

| 30.9.25 |  | 30.9.24 |

£ | £ |

| Net obligations repayable:

| Within one year | 21,563 |  | 207,257 |  |

| Between one and five years | 199,375 |  | 90,621 |  |

220,938 |  | 297,878 |  |

| Non-cancellable |

| operating leases |

| 30.9.25 |  | 30.9.24

£ | £ |

| Within one year | 28,718 |  | 16,335 |  |

| Between one and five years | 18,633 |  | 22,041 |  |

47,351 |  | 38,376 |  |

15. | SECURED DEBTS

| The following secured debts are included within creditors:

| 30.9.25 |  | 30.9.24

£ | £ |

| Bank overdrafts | 525,328 |  | 434,449 |  |

| Bank loans | 464,690 |  | 568,526 |  |

| Hire purchase contracts | 220,938 |  | 297,878 |  |

| Other creditors | 1,340,528 |  | 1,556,735 |  |

| Other loans | 439,127 |  | 361,825 |  |

2,990,611 |  | 3,219,413 |  |

| Bank borrowings with Royal Bank of Scotland plc are secured by a debenture dated 16 December 2004 and by a legal charge over the LLP's premises, Units 115-119 Timber Wharf, 32 Worsley Street, Castlefield, Manchester, M15 4LD.

| The designated member, M Corbett, has provided personal guarantees to secure certain borrowings of the LLP included within other loans of £69,838 (2024: £94,908).

| Clear Legal Limited, a company owned and controlled by the designated member M Corbett, has provided security for certain borrowings of the LLP included in other loans of £409,914 (2024: £324,164).

| Other creditors includes a balance of £738,776 (2024: £nil) due to PRL Legal Funding Ltd. The balance is secured via a debenture dated 16 July 2025, which includes a fixed and floating charge over the property and assets of the LLP. A cross guarantee has also been provided by Clear Legal Limited as security for this balance.

| Other creditors includes balances totalling £601,752 (2024: £965,497) which are secured against the specific client matters to which the funding relates.

| Hire purchase liabilities are secured over the assets to which they relate.

CLEAR LAW LLP (REGISTERED NUMBER: OC308339)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

16. | LOANS AND OTHER DEBTS DUE TO MEMBERS |

| 30.9.25 |  | 30.9.24

£ | £ |

| Amounts owed to members in respect of profits | 401,843 |  | 658,896 |  |

| Falling due within one year | 401,843 |  | 658,896 |  |

| It is the policy of the members not to draw profits in preference of other creditors. There is no protection afforded to creditors.

17. | RESERVES

| Revaluation

| reserve

£ |

| At 1 October 2024 | 637,051 |  |

| Release of revaluation reserve | (15,538 | ) |

| At 30 September 2025 | 621,513 |  |

| The revaluation reserve represents the amount by which the net book value of fixed assets exceeds carrying value.

18. | RELATED PARTY DISCLOSURES

| Other related parties

| 30.9.25 |  | 30.9.24

£ | £ |

| Commercial income paid | 37,882 |  | 36,470 |  |

| Management charges paid | 550,000 |  | 450,000 |  |

| Wage and expense costs recharged to related party | 93,468 |  | 16,547 |  |

| Management fees received | 200,000 |  | 225,431 |  |

| Recommendation fees paid | 499,945 |  | 493,041 |  |

| Staff and other costs recharged by related party | 837,743 |  | 802,045 |  |

| Amount due to related party | 4,743,726 |  | 3,480,178 |  |

| The designated member M Corbett has provided personal guarantees to secure certain borrowings of the LLP as disclosed in note 15 of the full financial statements.

| Clear Legal Limited, a company owned and controlled by the designated member M Corbett, has provided guarantees to secure certain borrowings of the LLP as disclosed in note 15 of the full financial statements.

| During the year, a total of key management personnel compensation of £ 241,107 (2024 - £ 189,090 ) was paid.

19. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is M Corbett.