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REGISTERED NUMBER: 06074388 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

TYNDALLWOODS SOLICITORS LIMITED

TYNDALLWOODS SOLICITORS LIMITED (REGISTERED NUMBER: 06074388) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| TYNDALLWOODS SOLICITORS LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2025

| DIRECTORS: | I J Buchanan

| I R Butler

| M H Dyke

| J A Dyke

| C M Eastwood

| S J Harris

| J A Russell

| REGISTERED OFFICE: | 29 Woodbourne Road

| Birmingham

| West Midlands

| B17 8BY

| REGISTERED NUMBER: | 06074388 (England and Wales)

| ACCOUNTANTS: | Crowe U.K. LLP

| Black Country House

| Rounds Green Road

| Oldbury

| West Midlands

| B69 2DG

TYNDALLWOODS SOLICITORS LIMITED (REGISTERED NUMBER: 06074388) |

BALANCE SHEET

31 MARCH 2025

| 2025 | 2024 |

| as restated |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | - |  | - |  |

Tangible assets | 5 | 36,118 |  | 25,771 |  |

36,118 |  | 25,771 |  |

CURRENT ASSETS

Debtors | 6 | 946,771 |  | 879,860 |  |

Cash at bank and in hand | 151,277 |  | 141,515 |  |

1,098,048 |  | 1,021,375 |  |

CREDITORS

Amounts falling due within one year | 7 | 570,595 |  | 525,713 |  |

NET CURRENT ASSETS | 527,453 |  | 495,662 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 563,571 |  | 521,433 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (82,003 | ) | (95,526 | ) |

PROVISIONS FOR LIABILITIES | 11 | (8,173 | ) | (5,399 | ) |

NET ASSETS | 473,395 |  | 420,508 |  |

CAPITAL AND RESERVES

Called up share capital | 12 | 1,000 |  | 1,000 |  |

Other reserves | 13 | 80,350 |  | 80,350 |  |

Retained earnings | 13 | 392,045 |  | 339,158 |  |

SHAREHOLDERS' FUNDS | 473,395 |  | 420,508 |  |

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

TYNDALLWOODS SOLICITORS LIMITED (REGISTERED NUMBER: 06074388) |

BALANCE SHEET - continued

31 MARCH 2025

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

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

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

J A Dyke - Director

TYNDALLWOODS SOLICITORS LIMITED (REGISTERED NUMBER: 06074388) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1. | STATUTORY INFORMATION

| Tyndallwoods 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.

| The principal activity of the company during the year was that of the provision of legal services.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

| The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

| The financial statements have been prepared for the company as a single entity.

| The financial statements are presented in Sterling which is considered to be the functional currency of the company, and are rounded to the nearest £1.

| The following principal accounting policies have been applied:

| Going concern

| The Directors are continually reviewing their plans and forecasts and believe that the going concern basis is appropriate. The company has operated throughout this period within its banking facilities and remains cash generative.

| On this basis the Directors consider it appropriate to prepare the financial statements on a going concern basis.

| Goodwill

| Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of comprehensive income over its useful economic life.

| The estimated useful lives range as follows:

| Goodwill - 5 years

| Tangible fixed assets

| Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

| Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. No depreciation is charged in the year of acquisition.

| Depreciation is provided on the following basis:

| Fixtures and fittings - 20% Reducing Balance

| Office equipment - 20% Reducing Balance

| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

TYNDALLWOODS SOLICITORS LIMITED (REGISTERED NUMBER: 06074388) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

2. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

| - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

| - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

| Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

| Operating lease agreements

| Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

| Turnover

| Turnover represents amounts chargeable to clients for the provision of professional services that have been provided during the year.

| The Company recognises income as contract activity progresses and it obtains the right to consideration, except where the outcome cannot be assessed with reasonable probability. The excess of the right to consideration over invoiced amounts is shown within amounts recoverable on contracts. Turnover excludes VAT. Unbilled fee income on individual assignments is included as amounts recoverable on contracts within debtors.

| Interest income

| Interest income is recognised in profit or loss using the effective interest method.

| Finance costs

| Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

| Borrowing costs

| All borrowing costs are recognised in profit or loss in the year in which they are incurred.

| Dividends

| Equity dividends are recognised when they become legally payable. Interim equity dividend are recognised when paid.

TYNDALLWOODS SOLICITORS LIMITED (REGISTERED NUMBER: 06074388) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

| Debtors - Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

| Cash and cash equivalents - Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

| Creditors - Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 22 (2024 - 22 ) .

4. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| Cost

| At 1 April 2024

| and 31 March 2025 | 270,000 |  |

| Amortisation

| At 1 April 2024

| and 31 March 2025 | 270,000 |  |

| Net book value

| At 31 March 2025 | - |  |

| At 31 March 2024 | - |  |

5. | TANGIBLE FIXED ASSETS

| Fixtures |

| and |  | Office |

| fittings |  | equipment |  | Totals

£ | £ | £ |

| Cost

| At 1 April 2024 | 31,478 |  | 126,896 |  | 158,374 |  |

| Additions | 3,653 |  | 11,848 |  | 15,501 |  |

| At 31 March 2025 | 35,131 |  | 138,744 |  | 173,875 |  |

| Depreciation

| At 1 April 2024 | 23,533 |  | 109,070 |  | 132,603 |  |

| Charge for year | 1,633 |  | 3,521 |  | 5,154 |  |

| At 31 March 2025 | 25,166 |  | 112,591 |  | 137,757 |  |

| Net book value

| At 31 March 2025 | 9,965 |  | 26,153 |  | 36,118 |  |

| At 31 March 2024 | 7,945 |  | 17,826 |  | 25,771 |  |

TYNDALLWOODS SOLICITORS LIMITED (REGISTERED NUMBER: 06074388) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

| as restated |

£ | £ |

| Trade Debtors | 170,264 |  | 139,853 |  |

| Other debtors | 16,000 |  | - |  |

| Amounts owed from retired partners | 78,738 |  | 71,252 |  |

| Prepayments | 122,357 |  | 129,205 |  |

| Amounts recoverable on unbilled time | 559,412 |  | 539,550 |  |

946,771 |  | 879,860 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

| as restated |

£ | £ |

| Bank loans and overdrafts (see note 9) | 125,114 |  | 132,706 |  |

| Trade creditors | 66,466 |  | 66,180 |  |

| Corporation tax | 29,538 |  | 40,872 |  |

| Social security and other taxes | 100,181 |  | 94,718 |  |

| Other creditors | 30,000 |  | - |  |

| Other Loans | 47,213 |  | 59,040 |  |

| Directors' loan accounts | 34,087 |  | 76,025 |  |

| Accruals and deferred income | 137,996 |  | 56,172 |  |

570,595 |  | 525,713 |  |

| Barclays Bank PLC holds a fixed and floating charge over the assets of the company in relation to the

| loans and overdraft facility that it provides.

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

| as restated |

£ | £ |

| Bank loans (see note 9) | 2,502 |  | 13,025 |  |

| Other creditors | 35,700 |  | 63,600 |  |

| Amounts due to retired partners | 43,801 |  | - |  |

| Directors' loan accounts | - |  | 18,901 |  |

82,003 |  | 95,526 |  |

| Barclays Bank PLC holds a fixed and floating charge over the assets of the company in relation to the

| loans and overdraft facility that it provides.

9. | LOANS

| An analysis of the maturity of loans is given below:

2025 | 2024 |

| as restated |

£ | £ |

| Amounts falling due within one year or on demand:

| Bank overdrafts | 115,114 |  | 110,738 |  |

| Bank loans | 10,000 |  | 21,968 |  |

125,114 |  | 132,706 |  |

| Amounts falling due between one and two years:

| Bank loans | 2,502 |  | 13,025 |  |

TYNDALLWOODS SOLICITORS LIMITED (REGISTERED NUMBER: 06074388) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

10. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

| as restated |

£ | £ |

| Within one year | 11,474 |  | 18,546 |  |

| Between one and five years | 8,533 |  | 10,367 |  |

20,007 |  | 28,913 |  |

11. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

| as restated |

£ | £ |

| Deferred tax | 8,173 |  | 5,399 |  |

| Deferred |

| tax |

£ |

| Balance at 1 April 2024 | 5,399 |  |

| Provided during year | 2,774 |  |

| Balance at 31 March 2025 | 8,173 |  |

12. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: |  | as restated |

£ | £ |

| 620 | Ordinary A shares | £1.00 | 620 |  | 620 |  |

| 380 | Ordinary B shares | £1.00 | 380 |  | 380 |  |

1,000 |  | 1,000 |  |

| The ordinary class A shares have full voting, dividend and capital distribution rights.

| The ordinary class B shares have full voting, dividend and capital distribution rights which must be agreed by the ordinary class A shareholders.

13. | RESERVES

| Retained |  | Other |

| earnings |  | reserves |  | Totals

£ | £ | £ |

| At 1 April 2024 | 339,158 |  | 80,350 |  | 419,508 |  |

| Profit for the year | 64,803 |  | 64,803 |  |

| Dividends | (11,916 | ) | (11,916 | ) |

| At 31 March 2025 | 392,045 |  | 80,350 |  | 472,395 |  |

| Other reserves - other reserves consist entirely of a capital contribution reserve.

| Profit and loss account - the profit and loss account consists of profits accumulated from previous years less dividends paid.

TYNDALLWOODS SOLICITORS LIMITED (REGISTERED NUMBER: 06074388) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

14. | PRIOR YEAR ADJUSTMENT

| During the year ended 31 March 2025, the Directors made the decision to remove the client bank account from the balance sheet. This decision was made to better reflect the nature of client monies, which are held in trust and do not form part of the company’s assets, in accordance with the Solicitors Regulation Authority (SRA) Accounts Rules.

| Previously, the client bank account had been included within cash and cash equivalents, with a corresponding creditor. The Directors have determined that excluding these balances provides a more accurate presentation of the company’s financial position.

| In accordance with FRS 102 Section 10, this change in presentation has been treated as a prior year adjustment and applied retrospectively. The comparative figures for the year ended 31 March 2024 have been restated accordingly.

| The impact of this adjustment was to reduce both cash at bank and in hand and the client account creditor by £13,183,770 as at 31 March 2024. There was no effect on net assets or on the profit or loss for the year.

| To comply with FRS 102, interest received on client account and interest paid to clients on their client account balances have now been presented gross, having previously been presented net. This is a presentational adjustment reflecting two separate transactions, and has no impact on the profit for the year, or reserves.