Chancery Consultancy LLP LLP accounts

REGISTERED NUMBER: OC455226

Chancery Consultancy LLP

Unaudited Financial Statements

31 March 2026

Chancery Consultancy LLP

Financial Statements

Period from 21 January 2025 to 31 March 2026

Contents	Page

Members' report	1

Statement of comprehensive income	2

Statement of financial position	3

Reconciliation of members' interests	5

Notes to the financial statements	6

Chancery Consultancy LLP

Members' Report

Period from 21 January 2025 to 31 March 2026

The members present their report and the unaudited financial statements of the LLP for the Period ended 31 March 2026 .

Principal activities

The principal activity of the LLP during the year was the provision of legal advisory services.

Designated members

The designated members who served the LLP during the Period were as follows:

Mr Dave Alleear	(Appointed 23 June 2025)
Mr Deepak Manghnani	(Appointed 23 June 2025)

Policy regarding members' drawings and the subscription and repayment of amounts subscribed or otherwise contributed by members

Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP.

New members are required to subscribe a minimum level of capital and in subsequent years members are invited to subscribe for further capital, the amounts of which is determined by the performance and seniority of those members. On retirement, capital is repaid to members.

This report was approved by the members on 3 November 2026 and signed on behalf of the members by:

Mr Deepak Manghnani

Designated Member

Registered office:

4th Floor

58-59 Great Marlborough Street

London

United Kingdom

W1F 7JY

Chancery Consultancy LLP

Statement of Comprehensive Income

Period from 21 January 2025 to 31 March 2026

	Period from
	21 Jan 25 to
	31 Mar 26
Note	£
Turnover	365,565

Cost of sales	23,539
	---------
Gross profit	342,026

Administrative expenses	57,741
	---------
Operating profit	284,285

	---------
Profit for the financial Period before members' remuneration and profit shares available for discretionary division among members	284,285
	---------

All the activities of the LLP are from continuing operations.

Chancery Consultancy LLP

Statement of Financial Position

31 March 2026

	31 Mar 26
Note	£

Current assets

Debtors	5	3,278
Cash at bank and in hand		33,164
		--------
		36,442

Creditors: amounts falling due within one year	6	7,776
		--------
Net current assets		28,666
		--------
Total assets less current liabilities		28,666
		--------
Net assets		28,666
		--------

Represented by:

Loans and other debts due to members

Other amounts	7	28,666
		--------

Members' other interests

Other reserves	–
	--------
	28,666
	--------

Total members' interests

Amounts due from members		(3,278)
Loans and other debts due to members	7	28,666
Members' other interests		–
		--------
		25,388
		--------

These financial statements have been prepared 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'.

For the Period ending 31 March 2026 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 .

Chancery Consultancy LLP

Statement of Financial Position (continued)

31 March 2026

These financial statements were approved by the members and authorised for issue on 3 November 2026 , and are signed on their behalf by:

Mr Deepak Manghnani

Designated Member

Registered number: OC455226

Chancery Consultancy LLP

Reconciliation of Members' Interests

Period from 21 January 2025 to 31 March 2026

	Members' other interests		Loans and other debts due to members less any amounts due from members in debtors		Total members' interests
	Other reserves	Total	Other amounts	Total	Total 31 Mar 26
	£	£	£	£	£
Amounts due to members			–	–
Amounts due from members			–	–
			----	----
Balance at 21 January 2025	–	–	–	–	–
Profit for the financial period available for discretionary division among members	284,285	284,285			284,285
	---------	---------	----	----	---------
Members' interests after profit for the period	284,285	284,285	–	–	284,285
Other division of profits	(284,285)	(284,285)	284,285	284,285	–
Drawings			(258,897)	(258,897)	(258,897)
			---------	---------
Amounts due to members			28,666	28,666
Amounts due from members			(3,278)	(3,278)
	---------	---------	---------	---------	---------
Balance at 31 March 2026	–	–	25,388	25,388	25,388
	---------	---------	---------	---------	---------

Chancery Consultancy LLP

Notes to the Financial Statements

Period from 21 January 2025 to 31 March 2026

1.	General information

The LLP is registered in England and Wales. The address of the registered office is 4th Floor, 58-59 Great Marlborough Street, London, W1F 7JY, United Kingdom.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

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'.

Financial instruments

A financial asset or a financial liability is recognised only when the LLP 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

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. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. 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. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4.	Employee numbers

The average number of persons employed by the LLP during the Period, including the members with contracts of employment, amounted to 1 .

5.	Debtors

	31 Mar 26
	£
Other debtors	3,278
	-------

6. Creditors: amounts falling due within one year

	31 Mar 26
	£
Social security and other taxes	5,281
Other creditors	2,495
	-------
	7,776
	-------

7.	Loans and other debts due to members

	31 Mar 26
	£
Amounts owed to members in respect of profits	28,666
	--------

8.	Related party transactions

Mr Manghnani manages and controls Burghley Services Ltd and is also a director of the company. Burghley Services Ltd is a corporate member of Chancery Consultancy LLP .