REGISTERED NUMBER: OC330953 (England and Wales)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

TOWERHOUSE LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DESIGNATED MEMBERS:

R P C Hubbard

P C Brisby

D W Stewart

REGISTERED OFFICE:

16 St. John's Lane

Farringdon

London

EC1M 4BS

REGISTERED NUMBER:

OC330953 (England and Wales)

ACCOUNTANTS:

Underwood Barron LLP

Monks Brook House

13 - 17 Hursley Road

Chandlers Ford

Eastleigh

Hampshire

SO53 2FW

The members present their report with the financial statements of the LLP for the year ended 31 March 2026.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of solicitors involved in regulatory affairs, etc.

DESIGNATED MEMBERS

The designated members during the year under review were:

R P C Hubbard

P C Brisby

D W Stewart

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £3,010,515 (2025 - £1,982,777 profit).

MEMBERS' INTERESTS

POLITICAL DONATIONS AND EXPENDITURE

Towerhouse LLP made a total charitable donations of £6,010 during the year.

ON BEHALF OF THE MEMBERS:

R P C Hubbard - Designated member

27 October 2026

TURNOVER

4,412,868

3,224,218

Cost of sales

1,007,517

830,984

GROSS PROFIT

3,405,351

2,393,234

Administrative expenses

416,595

423,059

OPERATING PROFIT

4

2,988,756

1,970,175

Interest receivable and similar income

21,759

12,677

3,010,515

1,982,852

Interest payable and similar expenses

-

75

PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

3,010,515

1,982,777

FIXED ASSETS

Tangible assets

5

4,972

2,131

CURRENT ASSETS

Debtors

6

1,564,814

1,961,632

Cash at bank

1,708,219

1,159,903

3,273,033

3,121,535

CREDITORS

Amounts falling due within one year

7

780,935

1,048,955

NET CURRENT ASSETS

2,492,098

2,072,580

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

2,497,070

2,074,711

LOANS AND OTHER DEBTS DUE TO MEMBERS

2,497,070

2,074,711

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

2,497,070

2,074,711

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 in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 27 October 2026 and were signed by:

R P C Hubbard - Designated member

1.	STATUTORY INFORMATION

Towerhouse 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. 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.

Computer equipment etc

-

33% on cost

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.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 16 (2025 - 15 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.3.26

31.3.25

£

£

Depreciation - owned assets

2,663

1,042

5.	TANGIBLE FIXED ASSETS

Computer

equipment

etc

£

COST

At 1 April 2025

4,070

Additions

5,504

Disposals

(375

)

At 31 March 2026

9,199

DEPRECIATION

At 1 April 2025

1,939

Charge for year

2,663

Eliminated on disposal

(375

)

At 31 March 2026

4,227

NET BOOK VALUE

At 31 March 2026

4,972

At 31 March 2025

2,131

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade debtors

790,219

1,871,806

Amounts recoverable on contract

-

29,196

Other debtors

774,595

60,630

1,564,814

1,961,632

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade creditors

470,164

487,114

Taxation and social security

139,823

342,873

Other creditors

170,948

218,968

780,935

1,048,955