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REGISTERED NUMBER: 02149438 (England and Wales)













STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

SOLICITORS OWN SOFTWARE LIMITED

SOLICITORS OWN SOFTWARE LIMITED (REGISTERED NUMBER: 02149438)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Notes to the Financial Statements 13


SOLICITORS OWN SOFTWARE LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2024







DIRECTORS: J E Espley
A G Ghiazza
C D Champion
J Sanderson





SECRETARY: A G Ghiazza





REGISTERED OFFICE: 1st Floor, 70 1st Floor
Regal House (C/O) LEAP
70 London Road
Twickenham
Middlesex
TW1 3QS





REGISTERED NUMBER: 02149438 (England and Wales)





AUDITORS: Oury Clark Chartered Accountants
Statutory Auditors
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

SOLICITORS OWN SOFTWARE LIMITED (REGISTERED NUMBER: 02149438)

STRATEGIC REPORT
for the Year Ended 30 June 2024

The directors present their strategic report for the year ended 30 June 2024.

Solicitors Own Software Limited's (SOS) principal activity is the provision of legal practice management software for enterprise law firms through its flagship product SOS Connect.

REVIEW OF BUSINESS
As well as continuing to support its existing client base, SOS actively pursued every opportunity to increase its subscriber base.

There was a real focus on customer service excellence and product enhancement with several new features in active development.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks reside around the strength of the UK economy, including the impact of rising interest rates on the property market. These macroeconomic factors could impact on a law firms' ability and desire to invest in premium technology. This especially applies to those firms that specialise in conveyancing or derive a large proportion of their business through residential or commercial property transactions. SOS mitigates these risks by appealing to large law firms that practice law in a variety of areas.

STRATEGY
SOS will focus its development, sales and marketing effort on the enterprise law firm segment with the aim of growing its market share.

To aid in this, the SOS Connect product will continue to evolve with new features and functionality with this type of law firm in mind.

RESULTS AND PERFORMANCE
The results of the company for the year, as set out on page 8 show a profit before tax of £8.4m (2023: £4.7m) and an increase in revenue of 39% from the previous year to £12.5m. Net assets were £16.7m (2023: £8.4m).

Revenue growth is the financial key performance indicator of the Company. The main driver of growth remains the continuing expansion of the subscriber base, through new sales and existing customer growth.

ON BEHALF OF THE BOARD:





J Sanderson - Director


25 September 2024

SOLICITORS OWN SOFTWARE LIMITED (REGISTERED NUMBER: 02149438)

REPORT OF THE DIRECTORS
for the Year Ended 30 June 2024

The directors present their report with the financial statements of the company for the year ended 30 June 2024.

DIVIDENDS
No dividends will be distributed for the year ended 30 June 2024.

DIRECTORS
J E Espley has held office during the whole of the period from 1 July 2023 to the date of this report.

Other changes in directors holding office are as follows:

R D Hugo-Hamman - resigned 20 May 2024
A G Ghiazza - appointed 16 June 2024
C D Champion - appointed 16 June 2024
J Sanderson - appointed 20 June 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

SOLICITORS OWN SOFTWARE LIMITED (REGISTERED NUMBER: 02149438)

REPORT OF THE DIRECTORS
for the Year Ended 30 June 2024


AUDITORS
The auditors, Oury Clark Chartered Accountants, are deemed to be re-appointed under Section 487 (2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:





J Sanderson - Director


25 September 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SOLICITORS OWN SOFTWARE LIMITED

Opinion
We have audited the financial statements of Solicitors Own Software Limited (the 'company') for the year ended 30 June 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to the events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months and one day from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be misstated. If we identify such inconsistencies or apparent misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SOLICITORS OWN SOFTWARE LIMITED


Matters on which we are required to report by exception
In light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified any matters in the Strategic Report and the Report of the Directors that are inconsistent with our overall view of the financial statements.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SOLICITORS OWN SOFTWARE LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Identifying and assessing potential irregularities, including fraud
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
- Considering the nature of the industry, sector, control environment and current business activities, including possible performance targets and subsequent remuneration
- Enquiring of management concerning policies and procedures relating to:

1. Complying with laws and regulations and whether there were any instances of non-compliance
2. Mitigating, detecting and responding to fraud risk and whether there has been any actual or possible instances of fraud

- Discussing within the engagement team and internal specialists where necessary, regarding how and where fraud may occur in the financial statements along with the possible indicators of fraud. We identified the following areas most likely to be susceptible to fraud:

1. Revenue recognition
2. Management override

- Discussing within the engagement team and internal specialists where necessary, the legal and regulatory framework in which the company operates and in particular those which would have an impact on the financial statements. The key laws and regulations considered were the Companies Act 2006, UK tax legislation and UK employment law.

Audit response to the risks identified
As noted above, we identified revenue recognition and management override as matters that would most likely be susceptible to fraud. Our procedures to respond to these risks included the following:
- Reviewing a sample of sales contracts and invoices to ensure sales are legitimate, recognised in the correct accounting period and are in line with applicable accounting standards.
- Review of the nominal ledger and journals posted in the year to ensure there was no evidence of management override.

Further, we also identified compliance with the Companies Act 2006, UK tax legislation and employment law as being key areas where there may be possible non-compliance. Our procedures to respond to these risks included the following:
- Review the financial statement disclosures with completion of a disclosure checklist and testing to supporting documentation to assess compliance with the Companies Act 2006;
- Safeguard review of financial statements by a qualified person independent from the engagement team;
- Corporation tax computation prepared and reviewed by separate team independent from the audit team;
- We have checked a sample of compliance with right to work checks and reviewed legal fees for indications of material issues arsing out of non-compliance with employment law.

The above matters and identified laws and regulations and potential fraud risks were communicated to all engagement team members and internal specialists where necessary, in order to enable the team to have the ability to identify such risks. The whole team remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SOLICITORS OWN SOFTWARE LIMITED

There are inherent limitations in the audit procedures described above and the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Emma Crowley (Senior Statutory Auditor)
for and on behalf of Oury Clark Chartered Accountants
Statutory Auditors
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

25 September 2024

SOLICITORS OWN SOFTWARE LIMITED (REGISTERED NUMBER: 02149438)

INCOME STATEMENT
for the Year Ended 30 June 2024

30.6.24 30.6.23
Notes £    £   

TURNOVER 3 12,513,163 8,981,071

Cost of sales 825,108 582,539
GROSS PROFIT 11,688,055 8,398,532

Administrative expenses 3,337,491 3,762,862
8,350,564 4,635,670

Other operating income 112 44,278
OPERATING PROFIT and
PROFIT BEFORE TAXATION 8,350,676 4,679,948

Tax on profit 6 1,243 758,247
PROFIT FOR THE FINANCIAL YEAR 8,349,433 3,921,701

SOLICITORS OWN SOFTWARE LIMITED (REGISTERED NUMBER: 02149438)

OTHER COMPREHENSIVE INCOME
for the Year Ended 30 June 2024

30.6.24 30.6.23
Notes £    £   

PROFIT FOR THE YEAR 8,349,433 3,921,701


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

8,349,433

3,921,701

SOLICITORS OWN SOFTWARE LIMITED (REGISTERED NUMBER: 02149438)

BALANCE SHEET
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 462,542 443,977
Tangible assets 8 77,614 46,587
540,156 490,564

CURRENT ASSETS
Debtors 9 19,132,475 12,947,616
Cash at bank and in hand 2,200,091 182,917
21,332,566 13,130,533
CREDITORS
Amounts falling due within one year 10 5,112,607 5,211,658
NET CURRENT ASSETS 16,219,959 7,918,875
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,760,115

8,409,439

PROVISIONS FOR LIABILITIES 12 26,005 24,762
NET ASSETS 16,734,110 8,384,677

CAPITAL AND RESERVES
Called up share capital 13 14,383 14,383
Share premium 14 58,955 58,955
Capital redemption reserve 14 8,700 8,700
Retained earnings 14 16,652,072 8,302,639
SHAREHOLDERS' FUNDS 16,734,110 8,384,677

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





J Sanderson - Director


SOLICITORS OWN SOFTWARE LIMITED (REGISTERED NUMBER: 02149438)

STATEMENT OF CHANGES IN EQUITY
for the Year Ended 30 June 2024

Called up Capital
share Retained Share redemption Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 July 2022 14,383 4,380,938 58,955 8,700 4,462,976

Changes in equity
Total comprehensive income - 3,921,701 - - 3,921,701
Balance at 30 June 2023 14,383 8,302,639 58,955 8,700 8,384,677

Changes in equity
Total comprehensive income - 8,349,433 - - 8,349,433
Balance at 30 June 2024 14,383 16,652,072 58,955 8,700 16,734,110

SOLICITORS OWN SOFTWARE LIMITED (REGISTERED NUMBER: 02149438)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Solicitors Own Software Limited is a private company limited by shares incorporated in England and
Wales. The registered office is 1st Floor, 70 1st Floor Regal House (C/O LEAP), 70 London Road, Twickenham, Middlesex, TW1 3QS.

The company's trading address is; Podium Space, Cambridge House, Henry Street, Bath, BA1 1BT.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

After making enquiries, the directors have reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period in excess of 12 months and 1 day from the date these financial statements were approved. Accordingly they continue to adopt the going concern basis in preparing the financial statements.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 33.7.

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

The company's turnover relates to the provision of a legal software on a subscription basis. Turnover is recognised on an accruals basis over time only when the company has satisfied its performance obligation.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

During the year, Solicitors Own Software Limited changed the method of amortising the intangible assets. The Company no longer provides a 4 month period of no amortisation from the point of capitalisation and instead, amortises at point of capitalisation. The change in amortisation method is a change in accounting estimate and is accounted for in the period of the change and in subsequent periods.

Development costs are being amortised evenly over their estimated useful life of four years.

SOLICITORS OWN SOFTWARE LIMITED (REGISTERED NUMBER: 02149438)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

During the year, Solicitors Own Software Limited changed the method of depreciating computer equipment from four years on a straight line basis to 3 years on a straight line basis as the revised method better reflects the useful lives of the assets. The change in depreciation method is a change in accounting estimate and is accounted for in the period of the change and in subsequent periods.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful
lives on the following bases:

Fixtures, fittings & equipment- 20% straight line
Computer equipment - 33% straight line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Basic financial instruments
Basic Financial Instruments as covered by Section 11 of FRS 102 are measured at amortised cost. The company does not have any Other Financial Instrument as covered by Section 12 of FRS 102.

SOLICITORS OWN SOFTWARE LIMITED (REGISTERED NUMBER: 02149438)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

30.6.24 30.6.23
£    £   
United Kingdom 12,513,163 8,981,071
12,513,163 8,981,071

4. EMPLOYEES AND DIRECTORS
30.6.24 30.6.23
£    £   
Wages and salaries 2,062,134 2,586,384
Social security costs 263,496 342,297
Other pension costs 56,243 61,693
2,381,873 2,990,374

The average number of employees during the year was as follows:
30.6.24 30.6.23

Administration 5 9
Operations 23 30
Development 12 16
40 55

30.6.24 30.6.23
£    £   
Directors' remuneration 3,950 -

LEAP Legal Software Limited recharged directors' remuneration amounting to £3,950 (2023: £Nil) to the company in respect of qualifying services provided by one director to the company during the period.

5. OPERATING PROFIT

The operating profit is stated after charging:

30.6.24 30.6.23
£    £   
Other operating leases 81,385 82,585
Depreciation - owned assets 48,026 22,768
Computer software amortisation 150,918 100,710
Auditors' remuneration 32,222 7,410
Foreign exchange differences 1,582 -

SOLICITORS OWN SOFTWARE LIMITED (REGISTERED NUMBER: 02149438)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.6.24 30.6.23
£    £   
Current tax:
UK corporation tax - 810,115

Deferred tax 1,243 (51,868 )
Tax on profit 1,243 758,247

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

30.6.24 30.6.23
£    £   
Profit before tax 8,350,676 4,679,948
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 20.500%)

2,087,669

959,389

Effects of:
Expenses not deductible for tax purposes (4,554 ) 2,404
Depreciation in excess of capital allowances - 18,909
Utilisation of tax losses (2,082,539 ) (202,353 )
Adjustments to tax charge in respect of previous periods 667 (20,102 )

Total tax charge 1,243 758,247

SOLICITORS OWN SOFTWARE LIMITED (REGISTERED NUMBER: 02149438)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

7. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 July 2023 588,965
Additions 169,483
At 30 June 2024 758,448
AMORTISATION
At 1 July 2023 144,988
Amortisation for year 150,918
At 30 June 2024 295,906
NET BOOK VALUE
At 30 June 2024 462,542
At 30 June 2023 443,977

8. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2023 417,862 248,842 666,704
Additions - 107,354 107,354
Disposals (417,862 ) (217,580 ) (635,442 )
At 30 June 2024 - 138,616 138,616
DEPRECIATION
At 1 July 2023 409,240 210,877 620,117
Charge for year 2,378 45,648 48,026
Eliminated on disposal (411,618 ) (195,523 ) (607,141 )
At 30 June 2024 - 61,002 61,002
NET BOOK VALUE
At 30 June 2024 - 77,614 77,614
At 30 June 2023 8,622 37,965 46,587

SOLICITORS OWN SOFTWARE LIMITED (REGISTERED NUMBER: 02149438)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 291,318 100,295
Amounts owed by group undertakings 18,543,100 12,719,796
Other debtors 14,616 -
Tax 136,975 -
Prepayments and accrued income 146,466 127,525
19,132,475 12,947,616

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 95,177 95,834
Amounts owed to group undertakings 4,155,122 4,155,122
Tax - 281,524
Social security and other taxes 45,584 49,229
VAT 576,033 425,262
Other creditors 15,387 10,050
Accruals and deferred income 225,304 194,637
5,112,607 5,211,658

11. LEASING AGREEMENTS
Lessee
At the reporting date, the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases as follows:

2024 2023
£    £   
Within one year 29,400 77,959
Between two and five years - -
29,400 77,959


Lessor

At the reporting date, the company had contracted with tenants for the following minimum lease payments:

2024 2023
£    £   
Within one year - 33,894
Between two and five years - -
- 33,894

SOLICITORS OWN SOFTWARE LIMITED (REGISTERED NUMBER: 02149438)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

12. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£    £   
Deferred tax 26,005 24,762

Deferred
tax
£   
Balance at 1 July 2023 24,762
Provided during year 1,243
Balance at 30 June 2024 26,005

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
14,383 Ordinary £1 14,383 14,383

14. RESERVES
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 July 2023 8,302,639 58,955 8,700 8,370,294
Profit for the year 8,349,433 8,349,433
At 30 June 2024 16,652,072 58,955 8,700 16,719,727

15. RELATED PARTY DISCLOSURES

There are no related party transactions other than with the parent company and other companies within the group in the ordinary course of business.

SOLICITORS OWN SOFTWARE LIMITED (REGISTERED NUMBER: 02149438)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

16. CONTROLLING PARTY

The immediate parent company is Leap Legal Software Limited, a company incorporated in England and Wales.

The smallest group to consolidate the results and financial position of the company is Legal Software Holdings Pty Ltd. Copies of the Legal Software Holdings Pty Ltd financial statements are publicly available and can be obtained from the Australian Securities & Investments Commission (ASIC), at asic.gov.au or from the registered office Level 11, 207 Kent Street, Sydney, 2000, NSW, Australia.

The largest group to consolidate the results and financial position of the company is ATI Global Limited. Copies of the ATI Global Limited financial statements are publicly available and can be obtained from the Australian Securities & Investments Commission (ASIC), at asic.gov.au or from the ATI Global Limited registered office Level 8, 135 King Street, Sydney, 2000, NSW, Australia.

The Company's ultimate parent, ATI Global Limited, is controlled by C M Beck, who is regarded as the ultimate controlling party.

17. SECURED DEBTS

There is a debenture in favour of Global Loan Agency Services Australia Nominees Pty Limited over all assets and undertakings of the company, in relation to a Deed of Accession.

Legal Software Pty Ltd has a A$435m term loan B (TLB) which is secured by a charge as mentioned above over LEAP Legal Software UK Holdings Limited and all its subsidiaries. The TLB is a 5-year facility, maturing in 2027.