REGISTERED NUMBER: OC345985 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2026

for

Gibson Young Solicitors LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DESIGNATED MEMBERS:

Miss L Young

Ms G Joshi

REGISTERED OFFICE:

1 & 2 Crescent Stables

139 Upper Richmond Road

London

SW15 2TN

REGISTERED NUMBER:

OC345985 (England and Wales)

ACCOUNTANTS:

Bristow Burrell

4 Riverview

Walnut Tree Close

Guildford

Surrey

GU1 4UX

FIXED ASSETS

Tangible assets

5

47,053

54,420

CURRENT ASSETS

Stocks

265,811

278,252

Debtors

6

61,313

83,949

Cash at bank

1,126,929

1,877,497

1,454,053

2,239,698

CREDITORS

Amounts falling due within one year

7

1,148,547

1,941,890

NET CURRENT ASSETS

305,506

297,808

TOTAL ASSETS LESS CURRENT LIABILITIES

352,559

352,228

CREDITORS

Amounts falling due after more than one year

8

191,100

246,600

NET ASSETS ATTRIBUTABLE TO MEMBERS

161,459

105,628

LOANS AND OTHER DEBTS DUE TO MEMBERS

161,459

105,628

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

161,459

105,628

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2026.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply 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 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 1 October 2026 and were signed by:

Miss L Young - Designated member

1.	STATUTORY INFORMATION

Gibson Young Solicitors LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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" including the provisions of Section 1A "Small Entities" 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

33% on reducing balance

Motor vehicles

-

33% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Hire purchase and leasing commitments

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

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.

4.	EMPLOYEE INFORMATION

The average number of employees during the year was 9 (2025 - 9 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2025

83,651

186,474

10,957

281,082

Additions

-

1,553

-

1,553

At 31 March 2026

83,651

188,027

10,957

282,635

DEPRECIATION

At 1 April 2025

42,751

173,048

10,863

226,662

Charge for year

4,183

4,643

94

8,920

At 31 March 2026

46,934

177,691

10,957

235,582

NET BOOK VALUE

At 31 March 2026

36,717

10,336

-

47,053

At 31 March 2025

40,900

13,426

94

54,420

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade debtors

1,694

7,155

Other debtors

59,619

76,794

61,313

83,949

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans and overdrafts

27,475

25,817

Client ledger balances

1,082,558

1,841,008

Trade creditors

14,937

40,326

Taxation and social security

22,290

33,362

Other creditors

1,287

1,377

1,148,547

1,941,890

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.26

31.3.25

£

£

Other creditors

191,100

246,600

Amounts falling due in more than five years:

Repayable by instalments

Creditors Within CVA

191,100

246,600