REGISTERED NUMBER: 06074388 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

TYNDALLWOODS SOLICITORS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

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.

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

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.

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.

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

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

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.

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.