REGISTERED NUMBER: 04871011 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

MICHAEL BAKER SOLICITORS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

K G Bishop

R Carr

REGISTERED OFFICE:

Abbey House

282 Farnborough Road

Farnborough

Hampshire

GU14 7NA

REGISTERED NUMBER:

04871011 (England and Wales)

AUDITORS:

John Williams & Co Limited

Chartered Certified Accountants

Statutory Auditors

Chart House

2 Effingham Road

Reigate

Surrey

RH2 7JN

FIXED ASSETS

Tangible assets

4

7,936

13,850

CURRENT ASSETS

Debtors

5

963,542

803,832

Cash at bank

1,675,173

1,259,893

2,638,715

2,063,725

CREDITORS

Amounts falling due within one year

6

1,152,006

503,613

NET CURRENT ASSETS

1,486,709

1,560,112

TOTAL ASSETS LESS CURRENT LIABILITIES

1,494,645

1,573,962

CREDITORS

Amounts falling due after more than one year

7

-

(65,607

)

PROVISIONS FOR LIABILITIES

8

(1,984

)

(3,425

)

NET ASSETS

1,492,661

1,504,930

CAPITAL AND RESERVES

Called up share capital

9

50,000

50,000

Retained earnings

10

1,442,661

1,454,930

SHAREHOLDERS' FUNDS

1,492,661

1,504,930

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 December 2025 and were signed on its behalf by:

K G Bishop - Director

1.	STATUTORY INFORMATION

Michael Baker 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

Judgements and estimates are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

(a) Establishing useful economic lives for depreciation and amortisation purposes of fixed assets.

Changes in asset useful lives can have a significant impact on depreciation and amortisation charges for the period. Detail of the depreciation rates are included in the accounting policies.

(b) Accrued income represents revenue earned but not yet invoiced at the reporting date. The recognition of accrued income involves the use of estimates and assumptions, particularly in respect of:

- Measurement of performance obligations: Judgement is required to determine the extent of services delivered.

- Timing of invoicing and settlement: Where invoicing lags behind delivery, management estimates the value of income to be accrued based on available operational data.

- Recoverability: Management assesses whether accrued income is recoverable.

Turnover

Turnover represents the invoiced value of fees, excluding value added tax and disbursements.

The company operates on a no win no fee basis. Revenue in respect of personal injury claims is recognised when a case is settled. Settled cases that remained unbilled at the year end are included as accrued income within debtors. Fees in respect of road traffic accidents are recognised in stages when certain milestones are met.

The company also provides services outside of the no win no fee agreement. In such cases and where the outcome of the transaction can be estimated reliably, revenue associated with the transaction is recognised by reference to the stage of completion at the balance sheet date, provided that a right to consideration has been obtained through performance. Consideration accrues as contract activity progresses by reference to value of work performed. Revenue in respect of service contracts represents the cost appropriate to the stage of completion of each contract plus attributable profits, less amounts recognised in previous years, where relevant.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment

-

25% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

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.

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 20 (2024 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Office

and

Computer

equipment

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2024

23,374

4,399

77,446

105,219

Additions

-

-

899

899

Disposals

(2,898

)

-

(20,755

)

(23,653

)

At 31 March 2025

20,476

4,399

57,590

82,465

DEPRECIATION

At 1 April 2024

23,168

4,399

63,802

91,369

Charge for year

206

-

6,607

6,813

Eliminated on disposal

(2,898

)

-

(20,755

)

(23,653

)

At 31 March 2025

20,476

4,399

49,654

74,529

NET BOOK VALUE

At 31 March 2025

-

-

7,936

7,936

At 31 March 2024

206

-

13,644

13,850

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

472,075

481,791

Amounts owed by group undertakings

6,162

4,928

Prepayments and accrued income

485,305

317,113

963,542

803,832

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other loans

65,607

65,932

Trade creditors

2,488

3,372

Tax

237,331

95,093

Social security and other taxes

17,554

18,490

VAT

107,215

51,657

Other creditors

61,686

107,175

Amounts held on behalf of clients

404,263

79,856

Accrued expenses

255,862

82,038

1,152,006

503,613

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other loans - 1-2 years

-

65,607

8.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

1,984

3,425

Deferred

tax

£

Balance at 1 April 2024

3,425

Accelerated capital allowances

(1,441

)

Balance at 31 March 2025

1,984

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

50,000

Ordinary

£1

50,000

50,000

10.

RESERVES

Retained

earnings

£

At 1 April 2024

1,454,930

Profit for the year

703,431

Dividends

(715,700

)

At 31 March 2025

1,442,661

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael R Wilson (Senior Statutory Auditor)

for and on behalf of John Williams & Co Limited

12.	RELATED PARTY DISCLOSURES

The parent company is Baker Oldfield Limited, a company registered in England & Wales.

During the period the company distributed dividends of £715,700 (2024: £289,100) to Baker Oldfield Limited.

2025

2024

£

£

Amount due from related party at the balance sheet date.

6,162

4,929

13.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

14.	POST BALANCE SHEET EVENTS

The company vacated the office premises at Beaumont house in October 2025. The company has no liability towards diliapidation costs.

The new office premises under license at Abbey House, 282 Farnborough Road, Hampshire GU14 7NA became the company's new registered office with effect from 31st October 2025.

15.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Keystone Holdco Limited.

The company is under the control of Keystone Holdco Limited, registered office:

Chart House, 2 Effingham Road, Reigate, Surrey, RH2 7JN.