LawNet Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 7

LawNet Limited

Company Information

Directors

A J Mehlin R A Phillips D Rodgers A P Lee A J Willows A C Wright E F Armstrong S Stuttaford H Hamilton-Shaw

Company secretary

Velocity Company Secretarial Services Limited

Registered office

93-95 Bedford Street Leamington Spa Warwickshire CV32 5BB

Auditors

PKF Francis Clark Statutory AuditorLowin House Tregolls Road Truro Cornwall TR1 2NA

LawNet Limited

Balance Sheet

31 May 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	43,299	-
Tangible assets	5	6,297	7,458
		49,596	7,458
Current assets
Debtors	6	161,011	130,998
Cash at bank and in hand		573,707	669,277
		734,718	800,275
Creditors: Amounts falling due within one year	7	(139,993)	(138,345)
Net current assets		594,725	661,930
Total assets less current liabilities		644,321	669,388
Provisions for liabilities		(34,199)	(26,865)
Net assets		610,122	642,523
Reserves
Profit and loss account		610,122	642,523
Surplus		610,122	642,523

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 24 September 2025 and signed on its behalf by:
 

......................................... R A Phillips Director

Company Registration Number: 02538900

LawNet Limited

Notes to the Financial Statements

Year Ended 31 May 2025

1	General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £2,500 towards the assets of the company in the event of liquidation.

The address of its registered office is:
93-95 Bedford Street
Leamington Spa
Warwickshire
CV32 5BB

These financial statements were authorised for issue by the Board on 24 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 incorporating Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors have considered a period of 12 months from approval of these accounts, including appropriate forecasts, and are satisfied that the going concern basis of preparation continues to be appropriate.

Revenue recognition

Income relates to subscriptions, training and conferences, publications and miscellaneous products and services which are recognised on an accruals basis.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

LawNet Limited

Notes to the Financial Statements

Year Ended 31 May 2025

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer equipment	25% Straight Line Basis
Fixtures and Fittings	15% Straight Line Basis

Intangible assets

Intangible assets are stated in the balance sheet at cost less accumulated amortisation and impairment. They will be amortised on a straight line basis over their estimated useful lives, once the asset has been brought into use.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Software development	20% Straight Line Basis

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

The company contributes into employees personal pension funds and the pension charge represents the amounts payable by the company to such funds in respect of the year.

LawNet Limited

Notes to the Financial Statements

Year Ended 31 May 2025

Financial instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the asset expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

The company holds the following financial instruments, all of which meet the conditions to be classified as basic instruments:

Short term debtors and creditors

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment judgements.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
 


 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2024 - 8).

4	Intangible assets

	Software development costs £	Total £
Cost or valuation
Additions	43,299	43,299
At 31 May 2025	43,299	43,299
Amortisation
At 31 May 2025	-	-
Carrying amount
At 31 May 2025	43,299	43,299

LawNet Limited

Notes to the Financial Statements

Year Ended 31 May 2025