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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

London Bridge Associates 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 company's place of business is Suites 1 to 3, The Hop Exchange, 24 Southwark Street, London SE1 1TY.

The accounts are presented in £sterling and rounded to the nearest pound

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.

These accounts contain the results of both the company and the Employee Benefit Trust (the "EBT"). The EBT was established by the company which retains the ability to direct the operations of the EBT to the extent that it has effective control of the EBT.

The value of investments held by the EBT is included in these accounts as the negative balance on the Own shares reserve, reflecting the value of its own shares that the company effectively holds. The capital account of the EBT is included in these accounts as the EBT reserve. The profits of the EBT are included within the profit and loss reserve and the EBT cumulative profits to date and profits for each period disclosed are trivial.

Turnover represents amounts receivable for services provided during the year in the normal course of business, net of VAT.

In respect of variable contracts for on-going services, revenue is recognised in the period in which services, being the time of personnel provided, are supplied and is valued at the contractual rates. Services that have been provided but not yet certified or invoiced are valued at contractual rates and included in accrued income, unless the directors consider the service will not be certified. Where revenue is invoiced in advance of services provided it is recognised as deferred income.

In respect of fixed price contracts for on-going services, revenue is recognised as the project progresses according to the directors' estimate of the degree of completion of the contract. This is based on the scope and timing of the project as set out in the contract and internal budget, actual time spent to date and contractual rates.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

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 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.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Research and development

All expenditure on research and development is expensed as incurred.

The average monthly number of persons (including directors) employed by the company during the year was:

Included in accruals and deferred income is £29,257 (2024: £44,046) in relation to July pension contributions which were then paid in August.

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

The share premium account represents the premium arising on the issue of shares, net of issue costs.

The capital redemption reserve contains the nominal value of own shares that have been acquired by the company and cancelled.

The own shares reserve represents the value of the company's shares held by the Employee Benefit Trust (EBT).

The EBT reserve represents the capital account of the EBT which consists of amounts gifted to the EBT by the company and gains from the sale of investments.

The profit and loss account represents cumulative profits and losses of both the company and the EBT, net of dividends and other adjustments.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 July 2025 and of its profit for the year 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.

At 31 July 2025, the company had total commitments under non-cancellable operating leases of £5,764 (2024: £8,302).

There is no individual shareholder that has overall control of the company.

The HM Revenue and Customs approved Share Incentive Plan is open to all eligible employees and is intended to encourage employees to invest in the Company's shares. Participants can invest up to £1,800 per year from pre-tax salary in shares ("partnership shares"). The amount of partnership shares money deducted in a tax year must not exceed 10% of the employee's salary for that tax year. The Company grants one free share ("matching shares") for every two partnership shares granted. The matching shares are normally forfeited if employment ceases (subject to certain exclusions such as injury or redundancy), or if partnership shares in respect of which the matching shares were awarded are withdrawn from or by a participant, within three years of award. "Free" shares are awarded to employees linked to length of employment service with the company.

Employees awarded matching and free shares in the company agree to leave them in the hands of the trustees of the plan, and not to assign, charge or otherwise dispose of their beneficial interest in the shares for the whole of the holding period of five years.

The company may direct that any cash dividend in respect of free shares, matching shares or partnership shares may be applied in acquiring further shares on their behalf ("dividend shares").

Further information regarding the share incentive plan can be obtained in the Rules of the London Bridge Associates Limited Share Incentive Plan.

During the year ended 31 July 2025 employees invested £31,567 (2024: £59,697) to the plan. 7,112 (2024: 13,266) partnership shares were awarded along with 3,556 (2024: 6,633) matching shares and 10,750 (2024: 11,700) free shares. A total of 6 (2024: 9) directors and 36 (2024: 39) employees participated in the scheme during the year.

As at 31 July 2025 the SIP held 50,535 (2024: 42,241) unallocated shares that may be used towards new partnership, matching and free awards.

The company operates an Employee Benefit Trust (EBT), which was established to facilitate share transactions between the SIP and other shareholders and to hold shares not yet allocated to employees. A prior year adjustment has been made to include the balances of the EBT within the accounts of the company, the impact of this is shown in the relevant note.

The EBT was funded by both a loan and a gift from the company in 2021 and further loans in 2023, 2024 and 2025. The total loan amount outstanding as at 31 July 2025 is £1,293,962 (2024: £429,897). On bringing the EBT balances into the accounts of the company, this loan is eliminated by offset against the loan owed by the EBT to the company and the value of the shares held as investments by the EBT is debited to the own shares reserve.

The capital reserve of the EBT has been brought in as the EBT reserve and the balance represents the gift from the company and gains from the sales of investments.

As at 31 July 2025 there were amounts owing from directors totalling £73,360 (2024 : £21,150)

S J Thompson    £5,000

M Nguyen    £61,360

S R Morgan    £7,000

No amounts were written off or waived to any director in the year to 31 July 2025. The amounts advanced are repayable on demand and are interest free, except for loans above £10,000 on which interest of 3.59% is payable.

A prior year adjustment has been made in order to bring in the results of the EBT that the company set up in a prior year.

The most significant changes arising from this are:

• the loan owed by the EBT to the company which was previously disclosed in other debtors, is eliminated by the corresponding loan balance in the balances brought in for the EBT;

• the value of the shares in the company held by the EBT is disclosed as a debit in the own shares reserves; and

• the capital account of the EBT is brought in as an EBT reserve.

The impact of the prior year adjustment on the profit and loss account was highly trivial both in respect of the impact on any individual profit and loss line and the impact on the overall result for the prior year.