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REGISTERED NUMBER: OC392435

BOWER COTTON HAMILTON LLP

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2025

BOWER COTTON HAMILTON LLP

STATEMENT OF FINANCIAL POSITION

31 March 2025

| 31 Mar 25 | 31 Dec 23
Note | £ | £ | £

Fixed assets

Intangible assets | 5 |  | 57,287 | 65,102
Tangible assets | 6 |  | 25,488 | 37,073
|  | --------- | ----------
|  | 82,775 | 102,175

Current assets

Debtors | 7 | 1,412,664 |  | 1,393,556
Cash at bank and in hand | 2,269 |  | 7,776
| ------------- |  | -------------
| 1,414,933 |  | 1,401,332

Creditors: amounts falling due within one year | 8 | 1,049,569 |  | 900,547
| ------------- |  | -------------
Net current assets |  | 365,364 | 500,785
|  | ---------- | ----------
Total assets less current liabilities |  | 448,139 | 602,960

Creditors: amounts falling due after more than one year | 9 |  | 61,628 | 203,818
|  | ---------- | ----------
Net assets |  | 386,511 | 399,142
|  | ---------- | ----------

Represented by:
Loans and other debts due to members

Other amounts | 10 |  | 386,511 | 399,142
|  | ---------- | ----------

Members' other interests

Other reserves |  | – | –
|  | ---------- | ----------
|  | 386,511 | 399,142
|  | ---------- | ----------

Total members' interests

Loans and other debts due to members | 10 |  | 386,511 | 399,142
Members' other interests |  | – | –
|  | ---------- | ----------
|  | 386,511 | 399,142
|  | ---------- | ----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.

BOWER COTTON HAMILTON LLP

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025
For the period 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) relating to small LLPs.
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 financial statements .
These financial statements were approved by the members and authorised for issue on 25 June 2026 , and are signed on their behalf by:

D P Rivers
Designated Member

Registered number: OC392435

BOWER COTTON HAMILTON LLP

NOTES TO THE FINANCIAL STATEMENTS

PERIOD FROM 1 JANUARY 2024 TO 31 MARCH 2025

1. | General information

The LLP is registered in England and Wales. The address of the registered office is The Barabon Buildings, 14 Red Lion Square, London, WC1R 4QH, England.

2. | Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP 2021).

3. | Accounting policies

Basis of preparation
The financial statements have been prepared on the historical cost basis.
Going concern
No material uncertainties that may cast significant doubt about the ability of the LLP to continue as a going concern has been identified by the designated members.
Going concern
The members consider that the uncertainty caused as a result of coronavirus and the restrictions put in place by the government should not materially affect the LLP's ability to continue as a going concern. The LLP may take advantage of the support packages offered by the government, as appropriate and will continue to review and monitor costs as the situation develops.
Revenue recognition
The turnover shown in the profit and loss account represents fees receivable during the year exclusive of Value Added Tax. The LLP accrues for incomes due under contractual obligations that are yet to be invoiced, excluding Value Added Tax. The value of such incomes are proportional to the stage of completion of the respective assignment. Where there are doubts with respect of recoverability of uninvoiced incomes, then no accrual for income is made.
Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

| Goodwill | - | 5% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Fixtures and fittings | - | 25% reducing balance
| Motor vehicles | - | 25% reducing balance
| Equipment | - | 25% reducing balance

Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. | Employee numbers

The average number of persons employed by the LLP during the period, including the members with contracts of employment, amounted to 15 (2023: 16 ).

5. | Intangible assets

| Goodwill
| £
Cost |
At 1 January 2024 and 31 March 2025 | 125,000
| ----------
Amortisation |
At 1 January 2024 | 59,898
Charge for the period | 7,815
| ----------
At 31 March 2025 | 67,713
| ----------
Carrying amount |
At 31 March 2025 | 57,287
| ----------
At 31 December 2023 | 65,102
| ----------

The intangible asset represents the goodwill, valued at cost and not revalued, generated as a result of the purchase of a solicitor practice trade and respective business assets. The members consider the asset to have a useful economic life of 20 years from date of purchase.

6. | Tangible assets

| Fixtures and fittings | Motor vehicles | Equipment | Total
| £ | £ | £ | £
Cost |  |  |  |
At 1 January 2024 and 31 March 2025 | 4,927 | 41,429 | 33,650 | 80,006
| ------- | --------- | --------- | ---------
Depreciation |  |  |  |
At 1 January 2024 | 4,542 | 19,096 | 19,295 | 42,933
Charge for the period | 120 | 6,979 | 4,486 | 11,585
| ------- | --------- | --------- | ---------
At 31 March 2025 | 4,662 | 26,075 | 23,781 | 54,518
| ------- | --------- | --------- | ---------
Carrying amount |  |  |  |
At 31 March 2025 | 265 | 15,354 | 9,869 | 25,488
| ------- | --------- | --------- | ---------
At 31 December 2023 | 385 | 22,333 | 14,355 | 37,073
| ------- | --------- | --------- | ---------

7. | Debtors

| 31 Mar 25 | 31 Dec 23
| £ | £
Trade debtors | 667,824 | 827,195
Amounts owed by group undertakings and undertakings in which the LLP has a participating interest | 25,624 | –
Other debtors | 719,216 | 566,361
| ------------- | -------------
| 1,412,664 | 1,393,556
| ------------- | -------------

Included within other debtors ia an amount due from an LLP ex-member Mr J Jacob (dec'd) of £135,720 (2023 £135,456).
8. Creditors: amounts falling due within one year

| 31 Mar 25 | 31 Dec 23
| £ | £
Bank loans and overdrafts | 344,041 | 137,014
Trade creditors | 101,829 | 174,428
Amounts owed to group undertakings and undertakings in which the LLP has a participating interest | 282,741 | 178,403
Social security and other taxes | 281,200 | 352,021
Other creditors | 39,758 | 58,681
| ------------- | ----------
| 1,049,569 | 900,547
| ------------- | ----------

9. Creditors: amounts falling due after more than one year

| 31 Mar 25 | 31 Dec 23
| £ | £
Bank loans and overdrafts | 61,628 | 198,797
Other creditors | – | 5,021
| --------- | ----------
| 61,628 | 203,818
| --------- | ----------

10. | Loans and other debts due to members

| 31 Mar 25 | 31 Dec 23
| £ | £
Amounts owed to members in respect of profits | 386,511 | 399,142
| ---------- | ----------

11. | Related party transactions

Mr D Rivers is the senior partner of the LLP and is the controlling party as defined by FRS 102.