Registration number: 06214801

SB Lawyers Limited

Contents

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

SB Lawyers Limited

Company Information

Directors

R Greenhough R J Allison L Parish M P Worthey

Registered office

3-4 Gelliwasted Road Pontypridd Wales CF37 2AU

Accountants

Hazlewoods LLP Windsor House Bayshill Road Cheltenham GL50 3AT

SB Lawyers Limited

(Registration number: 06214801)
Balance Sheet as at 5 April 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	9,962	-
Current assets
Debtors	5	578,064	1,134,012
Cash at bank and in hand		655,811	8,688
		1,233,875	1,142,700
Creditors: Amounts falling due within one year	6	(1,045,304)	(245,333)
Net current assets		188,571	897,367
Total assets less current liabilities		198,533	897,367
Provisions	7	(55,000)	-
Net assets		143,533	897,367
Capital and reserves
Called up share capital		7,950	6,161
Capital redemption reserve		3,839	3,839
Retained earnings		131,744	887,367
Shareholders' funds		143,533	897,367

For the financial year ending 5 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 November 2025 and signed on its behalf by:
 

R J Allison
Director

SB Lawyers Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The company was formerly known as The Spicketts Battrick Property Company Limited.

The address of its registered office is:
3-4 Gelliwasted Road
Pontypridd
Wales
CF37 2AU

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 Section 1A small entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

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

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Changes in circumstances

Acquisition of The Spicketts Battrick Law Practice On 19/06/2024, SB Lawyers Limited acquired The Spicketts Battrick Law Practice. Assets and liabilities were transferred at their values per the accounts prepared for the period ended 18/06/2024. Fixed assets were transferred at NBV and have been depreciated at the rate that is consistent with that previously used.

Judgements and estimation uncertainty

These financial statements do not contain any significant judgements or estimation uncertainty.

Revenue recognition

Turnover comprises 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 excludes VAT. Fees are recognised as contract activity progresses and the right to consideration is secured, except where the final outcome cannot be assessed with reasonable certainty.

Fee income in respect of contingent fee assignments is recognised in the period when the contingent event occurs and collectability of the fee is assured.

Unbilled fee income on individual assignments is included as amounts recoverable on contracts within debtors.

Tax

The tax expense for the period comprises current tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

SB Lawyers Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

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.

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
Leasehold improvements	25% straight line basis
Fixtures and fittings	25% straight line basis
Office equipment	25% straight line basis

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

SB Lawyers Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

SB Lawyers Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 94 (2024 - 89).

4

Tangible assets

	Leasehold improvements £	Fixtures and fittings £	Office equipment £	Total £
Cost
Additions	3,852	3,389	17,583	24,824
At 5 April 2025	3,852	3,389	17,583	24,824
Depreciation
Charge for the year	1,284	949	12,629	14,862
At 5 April 2025	1,284	949	12,629	14,862
Carrying amount
At 5 April 2025	2,568	2,440	4,954	9,962

5

Debtors

	2025 £	2024 £
Trade debtors	48,650	-
Amounts due from related parties	-	1,015,786
Prepayments	122,219	118,226
Amounts recoverable on contracts	407,195	-
	578,064	1,134,012

SB Lawyers Limited

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

6

Creditors

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	70,000	-
Trade creditors		9,775	20,806
Amounts due to related parties	10	150,001	78,864
Social security and other taxes		403,171	125,137
Outstanding defined contribution pension costs		15,099	10,567
Accruals		110,693	2,765
Corporation tax liability		283,848	7,194
Deferred income		2,717	-
		1,045,304	245,333

7

Provisions

	Client claims provision £	Total £
Increase through business combinations	85,000	85,000
Unused provision reversed	(30,000)	(30,000)
At 5 April 2025	55,000	55,000

8

Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	70,000	-