REGISTERED NUMBER: 08920546 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 August 2025

for

Gabbs Solicitors Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs M A Tree

T G E Bagley

Ms J M C Lewis

Ms R E Hughes

J W Horsey

REGISTERED OFFICE:

14 Broad Street

Hereford

Herefordshire

HR4 9AP

REGISTERED NUMBER:

08920546 (England and Wales)

ACCOUNTANTS:

Kingscott Dix Limited

Chartered Accountants

Goodridge Court

Goodridge Avenue

Gloucester

Gloucestershire

GL2 5EN

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

75,521

95,612

75,521

95,612

CURRENT ASSETS

Debtors

898,605

919,842

Cash at bank and in hand

497,239

191,553

1,395,844

1,111,395

CREDITORS

Amounts falling due within one year

467,630

418,660

NET CURRENT ASSETS

928,214

692,735

TOTAL ASSETS LESS CURRENT LIABILITIES

1,003,735

788,347

CREDITORS

Amounts falling due after more than one year

-

(28,129

)

PROVISIONS FOR LIABILITIES

(18,286

)

(23,178

)

NET ASSETS

985,449

737,040

CAPITAL AND RESERVES

Called up share capital

180

180

Capital redemption reserve

180

180

Retained earnings

985,089

736,680

SHAREHOLDERS' FUNDS

985,449

737,040

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 August 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2025 and were signed on its behalf by:

Mrs M A Tree - Director

1.	STATUTORY INFORMATION

Gabbs Solicitors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Fee income represents the fair value of services provided during the year on client assignments. Fair value reflects the amounts expected to be recoverable from clients based on time spent, skills provided and expenses incurred, and exclude VAT. Income is recognised as contract activity progresses and the right to consideration is secured, except where the final outcome cannot be assessed with reasonable certainty.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, has been amortised over its estimated life of seven 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

Straight line over 2 years

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33% on cost, 20% on cost and 10% on cost

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, are recognised at transaction price. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised at transaction price.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2024 - 47 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2024

and 31 August 2025

250,000

AMORTISATION

At 1 September 2024

and 31 August 2025

250,000

NET BOOK VALUE

At 31 August 2025

-

At 31 August 2024

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2024

353,333

Disposals

(29

)

At 31 August 2025

353,304

DEPRECIATION

At 1 September 2024

257,721

Charge for year

20,091

Eliminated on disposal

(29

)

At 31 August 2025

277,783

NET BOOK VALUE

At 31 August 2025

75,521

At 31 August 2024

95,612

The net book value above includes amounts attributable to assets subject to hire purchase and finance lease agreements at 31 August 2025 of £70,298 (2024:£89,085).

6.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.8.25

31.8.24

£

£

Net obligations repayable:

Within one year

28,129

32,328

Between one and five years

-

28,129

28,129

60,457

Non-cancellable

operating leases

31.8.25

31.8.24

£

£

Within one year

25,000

25,000

Between one and five years

72,916

97,916

97,916

122,916

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.25

31.8.24

£

£

Hire purchase contracts

28,129

60,457

CBILS loan

-

45,937

28,129

106,394