IRIS Accounts Production v25.1.4.42 15257544 Board of Directors 30.11.24 3.11.23 30.11.24 30.11.24 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. a holding company. true true true false true true false false false false false false false false false false false false false false false true false Ordinary 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh152575442023-11-02152575442024-11-30152575442023-11-032024-11-30152575442023-11-0215257544ns15:EnglandWales2023-11-032024-11-3015257544ns14:PoundSterling2023-11-032024-11-3015257544ns10:Director12023-11-032024-11-3015257544ns10:Consolidated2024-11-3015257544ns10:ConsolidatedGroupCompanyAccounts2023-11-032024-11-3015257544ns10:PrivateLimitedCompanyLtd2023-11-032024-11-3015257544ns10:Consolidatedns10:MediumEntities2023-11-032024-11-3015257544ns10:Consolidatedns10:Audited2023-11-032024-11-3015257544ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-11-032024-11-3015257544ns10:Medium-sizedCompaniesRegimeForAccounts2023-11-032024-11-3015257544ns10:Consolidated2023-11-032024-11-3015257544ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-11-032024-11-3015257544ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForAccounts2023-11-032024-11-3015257544ns10:FullAccounts2023-11-032024-11-3015257544ns5:Subsidiary12023-11-032024-11-3015257544ns5:Subsidiary22023-11-032024-11-3015257544ns5:Subsidiary32023-11-032024-11-3015257544ns5:Subsidiary42023-11-032024-11-3015257544ns5:Subsidiary52023-11-032024-11-3015257544ns5:Subsidiary62023-11-032024-11-3015257544ns5:Subsidiary72023-11-032024-11-3015257544ns5:Subsidiary82023-11-032024-11-3015257544ns5:Subsidiary92023-11-032024-11-3015257544ns5:Subsidiary102023-11-032024-11-3015257544ns5:Associate12023-11-032024-11-3015257544ns5:Associate22023-11-032024-11-301525754412023-11-032024-11-3015257544ns10:OrdinaryShareClass12023-11-032024-11-3015257544ns10:Director22023-11-032024-11-3015257544ns10:RegisteredOffice2023-11-032024-11-3015257544ns5:CurrentFinancialInstruments2024-11-3015257544ns5:Non-currentFinancialInstruments2024-11-3015257544ns5:ShareCapital2024-11-3015257544ns5:FurtherSpecificReserve1ComponentTotalEquity2024-11-3015257544ns5:ShareCapital2023-11-032024-11-3015257544ns5:RetainedEarningsAccumulatedLosses2023-11-032024-11-3015257544ns5:FurtherSpecificReserve1ComponentTotalEquity2023-11-032024-11-3015257544ns5:RetainedEarningsAccumulatedLosses2024-11-3015257544ns5:NetGoodwill2023-11-032024-11-3015257544ns5:IntangibleAssetsOtherThanGoodwill2023-11-032024-11-3015257544ns5:FurnitureFittings2023-11-032024-11-3015257544ns5:ComputerEquipment2023-11-032024-11-3015257544ns5:AdditionsToInvestments2024-11-3015257544ns5:CostValuation2024-11-30152575441ns5:Subsidiary12023-11-032024-11-3015257544ns5:Subsidiary12024-11-3015257544ns5:Subsidiary232023-11-032024-11-3015257544ns5:Subsidiary22024-11-30152575445ns5:Subsidiary32023-11-032024-11-3015257544ns5:Subsidiary32024-11-30152575447ns5:Subsidiary42023-11-032024-11-3015257544ns5:Subsidiary42024-11-3015257544ns5:Subsidiary592023-11-032024-11-3015257544ns5:Subsidiary52024-11-3015257544ns5:Subsidiary62024-11-301525754413ns5:Subsidiary72023-11-032024-11-3015257544ns5:Subsidiary72024-11-3015257544ns5:Subsidiary8152023-11-032024-11-3015257544ns5:Subsidiary8162023-11-032024-11-3015257544ns5:Subsidiary82024-11-301525754417ns5:Subsidiary92023-11-032024-11-3015257544ns5:Subsidiary92024-11-301525754419ns5:Subsidiary102023-11-032024-11-3015257544ns5:Subsidiary102024-11-3015257544ns5:Associate112023-11-032024-11-3015257544ns5:Associate12024-11-30152575443ns5:Associate22023-11-032024-11-3015257544ns5:Associate22024-11-3015257544ns10:OrdinaryShareClass12024-11-30
















Acuity Law Holdings Limited

Group Strategic Report, Report of the Directors and

Audited Consolidated Financial Statements

for the Period 3 November 2023 to 30 November 2024






Acuity Law Holdings Limited

Company Information
for the Period 3 November 2023 to 30 November 2024







DIRECTORS: S R Berry
R L Sellek





REGISTERED OFFICE: 3 Assembly Square
Britannia Quay
Cardiff
CF10 4PL





REGISTERED NUMBER: 15257544 (England and Wales)





AUDITORS: BPU Limited
Chartered Accountants
Statutory Auditor
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Acuity Law Holdings Limited (Registered number: 15257544)

Group Strategic Report
for the Period 3 November 2023 to 30 November 2024


The directors present their strategic report of the company and the group for the period 3 November 2023 to 30 November 2024.

REVIEW OF BUSINESS
During the 2023/2024 financial year we continued to build our team of employed and consultant partners, who work together to provide a seamless legal service to our commercial clients. Our hybrid model continues to distinguish us from our competitors and is one that we believe is perfect for a modern professional services firm.

We offer a flexible and financially rewarding career path to our lawyers, who can choose an employed or self-employed model. This enables us to attract new talent, and to give our junior lawyers a career path that promotes retention and growth. We are on a growth pattern, supported by a year on year increase in client relationships, with the opportunity to expand on the services we offer our clients.

We have invested in technology and we view this as the key to driving efficiencies, in the delivery of legal services. We enable our lawyers to work smarter and to pass on the benefits to clients. From a business perspective, this consolidates our client base and drives recurrent revenues.

We have expanded our team of non-lawyers and with a focus on increasing support to our fee-earners and in developing new products. This has included the roll out of a new internet platform for clients to access legal solutions, through which we can build subscription revenues and offer fixed price legal solutions.

In summary, the 2023/24 year has been one where we have focused on investment in systems, technology and the recruitment of an executive team to set us up for a period of further expansion. This has been funded out of cash-flow and we retain the ability to access external funding for growth if needed. The forecast for the next few years is extremely positive and that is reflected in the culture and energy within the firm.

Key Performance Indicators (KPIs)

The following KPIs relate to the trading company of the Group, Acuity Law Limited.

During the 2023/24 financial year we achieved the following KPIs which are relative to the 2022/23 financial year:

- Turnover slightly decreased by 2%, but we have seen an improvement in our pricing and with a
better level of billings per lawyer.
- Admin expenses decreased by 12% which reflects our success in automating back office
functions.
- In headline numbers, our profit before tax slightly decreased by 8% as a result of the
impairment and reclassification of investment in past acquisitions, but we still maintained a
healthy gross profit margin of 41%
- Consultant partner headcount increased by 5% with an improvement per consultant in the level
of fees billed.


Acuity Law Holdings Limited (Registered number: 15257544)

Group Strategic Report
for the Period 3 November 2023 to 30 November 2024

PRINCIPAL RISKS AND UNCERTAINTIES
Over the course of the 2023/24 financial year we continued to see a drag on deal-flow and investment across our client base. This was especially noticeable in our commercial real estate practice, where we have seen a swing from development work to investment and re-purposing of commercial property. We believe that the slow-down in project and transaction work, relative to previous years, will pick back up as interest rates drop. We have shaped our teams to be able to take on additional work without significant additional cost and this has been achieved from the efficiency gains we are achieving from our investment in technology and smart recruitment.

We have noted an increase in stressed situations with our client base, and have worked on more restructurings in 2023/24 than at any time in the last ten years. We have seen several clients enter into insolvency processes and this in turn has impacted on cash-recovery for our fees. However, we recognise the risk this presents and have improved our policies and billing approach to mitigate the risk.

FUTURE DEVELOPMENTS
We continue to grow our professional services that complement our core legal expertise, and these include regulatory advice, corporate broking, and training services. We have strong client retention, and the ability to package solutions for clients and to develop additional revenue streams.

We continue to build strategic alliances though our professional network and are seeing the benefits of a collaborative approach.

As our client base expands with the recruitment of new partners, our opportunity for cross-selling increases and we see a huge opportunity in making better use of our client data and relationships. Where a client is instructing us in one or a limited number of areas, there is scope for us to broaden our services and make use if the client goodwill that already exists.

We are proud of the value we have created in the "Acuity Law" brand. Our focus on providing quality legal services to successful and growing business clients gives us a business model that can support growth in the United Kingdom, and with the ability to expand internationally.

THIS REPORT WAS APPROVED BY THE BOARD:





R L Sellek - Director


1 August 2025

Acuity Law Holdings Limited (Registered number: 15257544)

Report of the Directors
for the Period 3 November 2023 to 30 November 2024


The directors present their report with the financial statements of the company and the group for the period 3 November 2023 to 30 November 2024.

INCORPORATION
The group was incorporated on 3 November 2023 and commenced trading on the same date.

DIVIDENDS
The total distribution of dividends for the period ended 30 November 2024 will be £478,603.

DIRECTORS
The directors who have held office during the period from 3 November 2023 to the date of this report are as follows:

S R Berry - appointed 3 November 2023
R L Sellek - appointed 3 November 2023

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Acuity Law Holdings Limited (Registered number: 15257544)

Report of the Directors
for the Period 3 November 2023 to 30 November 2024


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 group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

THIS REPORT WAS APPROVED BY THE BOARD:





R L Sellek - Director


1 August 2025

Report of the Independent Auditors to the Members of
Acuity Law Holdings Limited


Opinion
We have audited the financial statements of Acuity Law Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 30 November 2024 which comprise the Consolidated Profit & Loss Account, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 30 November 2024 and of the group's loss for the period 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 group 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 directors' 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 events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Report of the Independent Auditors to the Members of
Acuity Law Holdings Limited


Other information
The directors are responsible for the other information. The other information comprises the information in the Group 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 materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material 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 material 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 Group 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 Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company 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.

Report of the Independent Auditors to the Members of
Acuity Law Holdings Limited


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

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.

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

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risks of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that 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.

The laws and regulations that we determined were most significant to the company were the Companies Act & UK Corporate Tax Laws.

We obtained an understanding of how the company is complying with those laws and regulations by making enquiries of the management and those charged with governance, and corroborated these enquiries through our review of legal and professional spend for the year.

We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur. We addressed the risk of management override of internal controls and assessed the effectiveness of the controls that management has in place to prevent and detect fraud, including testing of manual journals and evaluating the assumptions and judgements made by management in its significant accounting estimates.

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.

Report of the Independent Auditors to the Members of
Acuity Law Holdings Limited


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.




Nicholas Matthew Toye (FCA) (Senior Statutory Auditor)
for and on behalf of BPU Limited
Chartered Accountants
Statutory Auditor

1 August 2025

Acuity Law Holdings Limited (Registered number: 15257544)

Consolidated Profit & Loss Account
for the Period 3 November 2023 to 30 November 2024

Notes £

TURNOVER 1,352,257

Cost of sales (819,687 )
GROSS PROFIT 532,570

Administrative expenses (389,075 )
143,495

Other operating income 3,333
OPERATING PROFIT 3 146,828

Impairment of investment 4 (388,357 )
(241,529 )

Interest receivable & similar income 17,033
(224,496 )

Interest payable and similar expenses 5 (9,295 )
LOSS BEFORE TAXATION (233,791 )

Tax on loss 6 (37,134 )
LOSS FOR THE FINANCIAL PERIOD (270,925 )
Loss attributable to:
Owners of the parent (270,925 )

Acuity Law Holdings Limited (Registered number: 15257544)

Consolidated Other Comprehensive Income
for the Period 3 November 2023 to 30 November 2024

Notes £

LOSS FOR THE PERIOD (270,925 )


OTHER COMPREHENSIVE INCOME -
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD

(270,925

)

Total comprehensive income attributable to:
Owners of the parent (270,925 )

Acuity Law Holdings Limited (Registered number: 15257544)

Consolidated Balance Sheet
30 November 2024

Notes £ £
FIXED ASSETS
Intangible assets 9 1,208,213
Tangible assets 10 243,922
Investments 11
Interest in associate 250,000
Other investments 5,000
1,707,135

CURRENT ASSETS
Stocks 12 2,701,100
Debtors 13 5,009,991
Cash at bank 558,203
8,269,294
CREDITORS
Amounts falling due within one year 14 3,664,292
NET CURRENT ASSETS 4,605,002
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,312,137

CREDITORS
Amounts falling due after more than
one year

15

(961,231

)

PROVISIONS FOR LIABILITIES 18 (60,000 )
NET ASSETS 5,290,906

Acuity Law Holdings Limited (Registered number: 15257544)

Consolidated Balance Sheet - continued
30 November 2024

Notes £ £
CAPITAL AND RESERVES
Called up share capital 19 2,315
Merger reserve 20 6,037,822
Retained earnings 20 (749,231 )
SHAREHOLDERS' FUNDS 5,290,906


The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2025 and were signed on its behalf by:





R L Sellek - Director


Acuity Law Holdings Limited (Registered number: 15257544)

Company Balance Sheet
30 November 2024

Notes £ £
FIXED ASSETS
Intangible assets 9 -
Tangible assets 10 -
Investments 11 7,318,279
7,318,279

CREDITORS
Amounts falling due within one year 14 928,885
NET CURRENT LIABILITIES (928,885 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,389,394

CREDITORS
Amounts falling due after more than
one year

15

349,257
NET ASSETS 6,040,137

CAPITAL AND RESERVES
Called up share capital 19 2,315
Merger reserve 20 6,037,822
SHAREHOLDERS' FUNDS 6,040,137

Company's profit for the financial year 478,306

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2025 and were signed on its behalf by:





R L Sellek - Director


Acuity Law Holdings Limited (Registered number: 15257544)

Consolidated Statement of Changes in Equity
for the Period 3 November 2023 to 30 November 2024

Called up
share Retained Merger Total
capital earnings reserve equity
£ £ £ £

Changes in equity
Issue of share capital 2,315 - - 2,315
Dividends - (478,306 ) - (478,306 )
Total comprehensive income - (270,925 ) - (270,925 )
Merger reserve - - 6,037,822 6,037,822
Balance at 30 November 2024 2,315 (749,231 ) 6,037,822 5,290,906

Acuity Law Holdings Limited (Registered number: 15257544)

Company Statement of Changes in Equity
for the Period 3 November 2023 to 30 November 2024

Called up
share Retained Merger Total
capital earnings reserve equity
£ £ £ £

Changes in equity
Issue of share capital 2,315 - - 2,315
Dividends - (478,306 ) - (478,306 )
Total comprehensive income - 478,306 - 478,306
Merger reserve - - 6,037,822 6,037,822
Balance at 30 November 2024 2,315 - 6,037,822 6,040,137

Acuity Law Holdings Limited (Registered number: 15257544)

Consolidated Cash Flow Statement
for the Period 3 November 2023 to 30 November 2024

Notes £
Cash flows from operating activities
Cash generated from operations 1 51,273
Interest paid (9,295 )
Tax paid (46,836 )
Net cash from operating activities (4,858 )

Cash flows from investing activities
Purchase of tangible fixed assets (6,287 )
Purchase of fixed asset investments (579,628 )
Interest received 17,033
Net cash from investing activities (568,882 )

Cash flows from financing activities
Capital repayments in year (25,000 )
Cash acquired on acquisition of business 1,635,249
Equity dividends paid (478,306 )
Net cash from financing activities 1,131,943

Increase in cash and cash equivalents 558,203
Cash and cash equivalents at
beginning of period

2

-

Cash and cash equivalents at end
of period

2

558,203

Acuity Law Holdings Limited (Registered number: 15257544)

Notes to the Consolidated Cash Flow Statement
for the Period 3 November 2023 to 30 November 2024


1. RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

£
Loss before taxation (233,791 )
Depreciation charges 28,398
Loss on disposal of fixed assets 366
Investment impairment 388,357
Finance costs 9,295
Finance income (17,033 )
175,592
Increase in stocks (63,606 )
Increase in trade and other debtors (20,401 )
Decrease in trade and other creditors (40,312 )
Cash generated from operations 51,273

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 30 November 2024
30/11/24 3/11/23
£ £
Cash and cash equivalents 558,203 -


Acuity Law Holdings Limited (Registered number: 15257544)

Notes to the Consolidated Cash Flow Statement
for the Period 3 November 2023 to 30 November 2024


3. ANALYSIS OF CHANGES IN NET DEBT

At 3/11/23 Cash flow At 30/11/24
£ £ £
Net cash
Cash at bank - 558,203 558,203
- 558,203 558,203
Debt
Debts falling due within 1 year - (300,000 ) (300,000 )
Debts falling due after 1 year - (425,000 ) (425,000 )
- (725,000 ) (725,000 )
Total - (166,797 ) (166,797 )

Acuity Law Holdings Limited (Registered number: 15257544)

Notes to the Consolidated Financial Statements
for the Period 3 November 2023 to 30 November 2024


1. 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.

Turnover
Turnover is measured at the fair value of the consideration receivable or received excluding discounts, rebates and value added tax in relation to the provision of legal and associated consultancy services.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of five years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture & fittings - 25% reducing balance and 10% straight line
Computer equipment - 33% straight line

Investments in associates
Investments in associate undertakings are recognised at cost.

Work in progress
Income due in respect of contracts for uninvoiced ongoing services is recognised by reference to the stage of completion at the year end. The amount of uninvoiced services is shown in the balance sheet as work in progress. Where work is undertaken on a no win no fee basis (also known as conditional fee arrangements) and the outcome is uncertain at the balance sheet date no income is recognised.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated Profit & Loss Account, 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.


Acuity Law Holdings Limited (Registered number: 15257544)

Notes to the Consolidated Financial Statements - continued
for the Period 3 November 2023 to 30 November 2024


1. ACCOUNTING POLICIES - continued
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 period 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.

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

2. EMPLOYEES AND DIRECTORS
£
Wages and salaries 51,482
Social security costs 3,316
Other pension costs 1,235
56,033

The average number of employees during the period was as follows:

Employees 118

£
Directors' remuneration 29,727
Directors' pension contributions to money purchase schemes 1,235

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2

Acuity Law Holdings Limited (Registered number: 15257544)

Notes to the Consolidated Financial Statements - continued
for the Period 3 November 2023 to 30 November 2024


3. OPERATING PROFIT

The operating profit is stated after charging:

£
Depreciation - owned assets 7,919
Loss on disposal of fixed assets 366
Goodwill amortisation 20,478
Audit fees 2,042
Auditors' fees non audit work 5,283
Operating Leases - Land and buildings 47,105
Operating Leases - Equipment hire 2,704

4. EXCEPTIONAL ITEMS
£
Impairment of investment (388,357 )

The group purchased the share capital of Goodman Grant Holdings Limited (now Acuity Project Solutions Limited) in 2022. The trade and assets of Goodman Grant Solicitors Limited, the trading subsidiary of this group were transferred into Acuity Law Limited. The Directors have re assessed the value at which this investment was being carried and made an appropriate impairment to reflect its fair value.

5. INTEREST PAYABLE AND SIMILAR EXPENSES
£
Bank loan interest 7,328
Other interest 1,967
9,295

6. TAXATION

Analysis of the tax charge
The tax charge on the loss for the period was as follows:
£
Current tax:
UK corporation tax 37,551

Deferred tax (417 )
Tax on loss 37,134

Acuity Law Holdings Limited (Registered number: 15257544)

Notes to the Consolidated Financial Statements - continued
for the Period 3 November 2023 to 30 November 2024


6. TAXATION - continued

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

£
Loss before tax (233,791 )
Loss multiplied by the standard rate of corporation tax in the UK
of 25 %

(58,448

)

Effects of:
Expenses not deductible for tax purposes 99,343
Depreciation in excess of capital allowances 992
Adjustments to tax charge in respect of previous periods (9,456 )
Deferred tax (417 )
Impact of consolidation 5,120
Total tax charge 37,134

7. INDIVIDUAL PROFIT & LOSS ACCOUNT

As permitted by Section 408 of the Companies Act 2006, the Profit & Loss Account of the parent company is not presented as part of these financial statements.


8. DIVIDENDS
£
Ordinary shares of 1.00 each
Paid 478,306

Acuity Law Holdings Limited (Registered number: 15257544)

Notes to the Consolidated Financial Statements - continued
for the Period 3 November 2023 to 30 November 2024


9. INTANGIBLE FIXED ASSETS

Group
Goodwill
£
COST
Additions 1,228,691
At 30 November 2024 1,228,691
AMORTISATION
Amortisation for period 20,478
At 30 November 2024 20,478
NET BOOK VALUE
At 30 November 2024 1,208,213

10. TANGIBLE FIXED ASSETS

Group
Furniture & Computer
fittings equipment Totals
£ £ £
COST
Additions 154,446 97,395 251,841
At 30 November 2024 154,446 97,395 251,841
DEPRECIATION
Charge for period 2,257 5,662 7,919
At 30 November 2024 2,257 5,662 7,919
NET BOOK VALUE
At 30 November 2024 152,189 91,733 243,922

Acuity Law Holdings Limited (Registered number: 15257544)

Notes to the Consolidated Financial Statements - continued
for the Period 3 November 2023 to 30 November 2024


11. FIXED ASSET INVESTMENTS

Group
Interest in Unlisted
associate investments Totals
£ £ £
COST
Additions 250,000 5,000 255,000
At 30 November 2024 250,000 5,000 255,000
NET BOOK VALUE
At 30 November 2024 250,000 5,000 255,000
Company
Shares in
group
undertakings
£
COST
Additions 7,318,279
At 30 November 2024 7,318,279
NET BOOK VALUE
At 30 November 2024 7,318,279

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Acuity Law Group Limited
Registered office: 3 Assembly Square, Britannia Quay, Cardiff Bay, Cardiff, CF10 4PL
Nature of business: Holding company
%
Class of shares: holding
Ordinary 100.00
2024
£
Aggregate capital and reserves 6,376,291
Profit for the period 984,215

Acuity Law Holdings Limited (Registered number: 15257544)

Notes to the Consolidated Financial Statements - continued
for the Period 3 November 2023 to 30 November 2024


11. FIXED ASSET INVESTMENTS - continued

Acuity Law Limited
Registered office: 3 Assembly Square, Britannia Quay, Cardiff Bay, Cardiff, CF10 4PL
Nature of business: Solicitors
%
Class of shares: holding
Ordinary 100.00
2024
£
Aggregate capital and reserves 7,800,412
Profit for the period 1,266,550

Acuity Sales & Valuations Limited
Registered office: 3 Assembly Square, Britannia Quay, Cardiff Bay, Cardiff, CF10 4PL
Nature of business: Real estate and management consultancy
%
Class of shares: holding
Ordinary 100.00
31/12/23
£
Aggregate capital and reserves 44,055
Profit for the year 44,054

Acuity Legal Limited
Registered office: 3 Assembly Square, Britannia Quay, Cardiff Bay, Cardiff, CF10 4PL
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
31/3/24
£
Aggregate capital and reserves 1

Acuity Real Estate Advisers Limited
Registered office: 3 Assembly Square, Britannia Quay, Cardiff Bay, Cardiff, CF10 4PL
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
31/5/24
£
Aggregate capital and reserves 1

Acuity Law Holdings Limited (Registered number: 15257544)

Notes to the Consolidated Financial Statements - continued
for the Period 3 November 2023 to 30 November 2024


11. FIXED ASSET INVESTMENTS - continued

New LL Limited
Registered office: 3 Assembly Square, Britannia Quay, Cardiff Bay, Cardiff, CF10 4PL
Nature of business: Dormant
%
Class of shares: holding
2024
£
Aggregate capital and reserves 1

Maple and Black Limited
Registered office: 3 Assembly Square, Britannia Quay, Cardiff Bay, Cardiff, CF10 4PL
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2024
£
Aggregate capital and reserves 2

Acuity Project Solutions Limited
Registered office: 3 Assembly Square, Britannia Quay, Cardiff Bay, Cardiff, CF10 4PL
Nature of business: Dormant
%
Class of shares: holding
A Ordinary 100.00
B Ordinary 100.00
2024
£
Aggregate capital and reserves 200
Loss for the period (177 )

Goodman Grant Solicitors Limited
Registered office: 3 Assembly Square, Britannia Quay, Cardiff Bay, Cardiff, CF10 4PL
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2024
£
Aggregate capital and reserves 1
Loss for the period (14,482 )

Acuity Law Holdings Limited (Registered number: 15257544)

Notes to the Consolidated Financial Statements - continued
for the Period 3 November 2023 to 30 November 2024


11. FIXED ASSET INVESTMENTS - continued

Adam Street Group Limited
Registered office: 3 Assembly Square, Britannia Quay, Cardiff Bay, Cardiff, CF10 4PL
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
30/6/24
£
Aggregate capital and reserves 1

Associated companies

Adam Street Advisers Limited
Registered office: 21 Ganton Street, London, England, W1F 9BN
Nature of business: Financial management
%
Class of shares: holding
Ordinary 20.00
31/5/24
£
Aggregate capital and reserves 130,272
Loss for the year (97,245 )

The EndGame Group Limited
Registered office: 3 Assembly Square, Britannia Quay, Cardiff Bay, Cardiff, CF10 4PL
Nature of business: Sports agency
%
Class of shares: holding
Ordinary 25.00
2024
£
Aggregate capital and reserves 6,042
Loss for the period (7,636 )


12. STOCKS


Group
£
Work-in-progress 2,701,100

Acuity Law Holdings Limited (Registered number: 15257544)

Notes to the Consolidated Financial Statements - continued
for the Period 3 November 2023 to 30 November 2024


13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


Group
£
Trade debtors 3,771,263
Other debtors 98,829
Prepayments and accrued income 1,139,899
5,009,991

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


Group Company
£ £
Bank loans and overdrafts (see note 16)
300,000

-
Trade creditors 283,135 -
Amounts owed to group undertakings 155,542 579,628
Corporation tax 421,962 -
Social security and other taxes 209,849 -
VAT 476,507 -
Other creditors 1,031,076 349,257
Accruals and deferred income 786,221 -
3,664,292 928,885

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR


Group Company
£ £
Bank loans (see note 16) 425,000 -
Other creditors 536,231 349,257
961,231 349,257

Acuity Law Holdings Limited (Registered number: 15257544)

Notes to the Consolidated Financial Statements - continued
for the Period 3 November 2023 to 30 November 2024


16. LOANS

An analysis of the maturity of loans is given below:


Group
£
Amounts falling due within one year or on demand:
Bank loans 300,000
Amounts falling due between one and two years:
Bank loans - 1-2 years 300,000
Amounts falling due between two and five years:
Bank loans - 2-5 years 125,000

The CBIL bank loan is repayable from May 22 for a period of 60 months with the interest rate applicable being 2.51% above the Bank of England base rate.

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable
operating leases
£
Within one year 312,026
Between one and five years 544,046
856,072

18. PROVISIONS FOR LIABILITIES


Group
£
Deferred tax 60,000

Acuity Law Holdings Limited (Registered number: 15257544)

Notes to the Consolidated Financial Statements - continued
for the Period 3 November 2023 to 30 November 2024


18. PROVISIONS FOR LIABILITIES - continued

Group
Deferred tax
£
Provided during period (417 )
Acquired on acquisition of sub 60,417
Balance at 30 November 2024 60,000

The deferred tax relates to accelerated capital allowances.

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £
2,315 Ordinary 1.00 2,315

20. RESERVES

Group
Retained Merger
earnings reserve Totals
£ £ £

Deficit for the period (270,925 ) (270,925 )
Dividends (478,306 ) (478,306 )
Merger reserve - 6,037,822 6,037,822
At 30 November 2024 (749,231 ) 6,037,822 5,288,591

Company
Retained Merger
earnings reserve Totals
£ £ £

Profit for the period 478,306 478,306
Dividends (478,306 ) (478,306 )
Merger reserve - 6,037,822 6,037,822
At 30 November 2024 - 6,037,822 6,037,822

Acuity Law Holdings Limited (Registered number: 15257544)

Notes to the Consolidated Financial Statements - continued
for the Period 3 November 2023 to 30 November 2024


20. RESERVES - continued


21. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 30 November 2024:

£
S R Berry
Balance outstanding at start of period -
Amounts advanced 686
Amounts repaid -
Amounts written off -
Amounts waived -
Balance outstanding at end of period 686

22. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

a) Associates :-
Adam Street Advisers Limited

ai) Rental of property to related parties
Net value Balance
of supply owed
in year at year end
£    £   
2024
Associates 3,333 -