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.

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.

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 NA Associates 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.

On 31 March 2025 the members resolved to dispose of the LLP’s business and cease trading. Contracts for the sale of the business were exchanged unconditionally on that date and completion took place on 4 July 2025.

Following the agreement to dispose of the business, the LLP continued to trade only to the extent necessary to fulfil existing obligations, facilitate the transfer of the business to the purchaser and wind down its operations. The LLP ceased all trading activities upon completion of the sale.

As the members do not intend to continue the LLP’s trading activities, the financial statements have not been prepared on a going concern basis. Assets are stated at their estimated realisable values and liabilities at their expected settlement amounts. Provision has been made for all known liabilities and costs associated with the cessation of trade and the winding up of the LLP.

Turnover represents net invoiced sales of services excluding value added tax.

Amounts due under contracts not yet invoiced are valued in accordance with FRS102 at the recoverable standard value of time charged by all personnel engaged in the provision of services. Revenue is recognised as the work progresses to reflect the LLP’s partial performance of the contractual obligation. The amount of revenue recognised reflects the accrual of the right for consideration as contract activity progresses by reference to the value of work performed.

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

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:

Work in progress comprises costs incurred in the provision of services to clients where turnover has not been recognised. Where the value of work billed is in excess of the work undertaken to the balance sheet date, this is carried forward as deferred income. Work in progress is stated at the lower of cost, comprising salary costs plus directly attributable overheads, and net realisable value.

Debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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.

Creditors with no stated interest rate and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.