Company No: 11127712 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Marko Dukic (Resigned 26 March 2025)
	Brennan Jeos Ong

REGISTERED OFFICE	Level 3 115 Golden Ln
	London
	EC1Y 0TJ
	United Kingdom

COMPANY NUMBER

11127712 (England and Wales)

ACCOUNTANT	Gravita Business Services II Limited
	Aldgate Tower
	2 Leman Street
	London
	E1 8FA
	United Kingdom

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	698,618		771,399
Tangible assets	4	38,566		26,106
Investments	5	1		1
		737,185		797,506
Current assets
Debtors	6	1,869,802		881,072
Cash at bank and in hand		133,762		837,502
		2,003,564		1,718,574
Creditors: amounts falling due within one year	7	( 2,076,520)		( 2,411,358)
Net current liabilities		(72,956)		(692,784)
Total assets less current liabilities		664,229		104,722
Creditors: amounts falling due after more than one year	8	( 147,917)		( 182,917)
Net assets/(liabilities)		516,312		( 78,195)
Capital and reserves
Called-up share capital		100		100
Profit and loss account		516,212		( 78,295 )
Total shareholder's funds/(deficit)		516,312		( 78,195)

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of LawAdvisor Ltd (registered number: 11127712) were approved and authorised for issue by the Director on 23 December 2025. They were signed on its behalf by:

Brennan Jeos Ong Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

LawAdvisor Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Level 3 115 Golden Ln, London, EC1Y 0TJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The Company has continued to invest in research and development with the financial support available from the group.

The directors have confirmed that the group support will continue to be available for a minimum of 12 months from the date of signing these financial statements, and that the group has the funds available to do so. On this basis, the directors believe that the Company will have adequate resources to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Therefore, the directors continue to prepare the financial statements on going concern basis.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Reclassification of expenses

In the current year, the Company has reclassified certain hosting and software costs from administrative expenses to cost of sales. This change reflects management’s view that these costs are directly attributable to the delivery of services. Comparative figures have been restated accordingly.

The impact of this reclassification on the prior year was an increase in cost of sales of £186,764 and a corresponding decrease in administrative expenses of £186,764. There was no impact on operating profit or net assets.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs

10 years straight line

Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the director is satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is ten years. Provision is made for any impairment.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment

3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

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 the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial assets
An 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.

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.

For financial assets carried at amortised cost, the amount of 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.

Fixed asset investments

Investments in subsidiaries are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) 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.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	2		12

3. Intangible assets

	Development costs		Total
	£		£
Cost
At 01 January 2024	771,399		771,399
Additions	4,520		4,520
At 31 December 2024	775,919		775,919
Accumulated amortisation
At 01 January 2024	0		0
Charge for the financial year	77,301		77,301
At 31 December 2024	77,301		77,301
Net book value
At 31 December 2024	698,618		698,618
At 31 December 2023	771,399		771,399

The Company has been focused on extensive development of its management technology. The cost of development provides the framework for the Company's business model. In accordance with the requirements of FRS 102, the directors evaluate the expected future economic benefits of the capitalised costs to the extent that they are satisfied with reasonable certainty that those benefits will exceed the cost.

While it is possible to measure the costs with reasonable certainty, the economic benefit of the development expenditure is that of the entire business undertaking, since such development is fundamental to the main business activity. As such, the directors have concluded that, as well as following the requirements of FRS102, it is a logical imperative that the development expenditure be capitalised as an intangible asset.

4. Tangible assets

	Office equipment		Total
	£		£
Cost
At 01 January 2024	78,497		78,497
Additions	30,229		30,229
Disposals	( 1,310)		( 1,310)
At 31 December 2024	107,416		107,416
Accumulated depreciation
At 01 January 2024	52,391		52,391
Charge for the financial year	17,151		17,151
Disposals	( 692)		( 692)
At 31 December 2024	68,850		68,850
Net book value
At 31 December 2024	38,566		38,566
At 31 December 2023	26,106		26,106

5. Fixed asset investments

Investments in subsidiaries

	2024
	£
Cost
At 01 January 2024	1
At 31 December 2024	1
Carrying value at 31 December 2024	1
Carrying value at 31 December 2023	1

Investments in shares

Name of entity	Registered office	Principal activity	Class of shares	Ownership 31.12.2024	Ownership 31.12.2023	Held
Fibonacci Technologies Ltd	Level 3, 115 Golden Ln, London, England, EC1Y 0TJ	Technology driven practice management tool for corporate legal and law firms	Ordinary	77.06%	77.06%	Direct
Fibonacci Services Limited	Level 3, 115 Golden Ln, London, England, EC1Y 0TJ	Business and domestic software development	Ordinary	100.00%	100.00%	Indirect

6. Debtors

	2024		2023
	£		£
Trade debtors	0		54,000
Amounts owed by Group undertakings	1,696,363		7,288
Amounts owed by Parent undertakings	0		813,817
Corporation tax	42,950		0
Other taxation and social security	0		5,718
Other debtors	130,489		249
	1,869,802		881,072

Amounts owed by Group and Parent undertakings are repayable on demand and do not bear interest.

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	44,440		5,725
Amounts owed to Group undertakings	1,888,871		1,892,914
Amounts owed to Parent undertakings	6,322		210,092
Other taxation and social security	11,148		19,005
Other creditors	125,739		283,622
	2,076,520		2,411,358

Amounts owed to Group and Parent undertakings are repayable on demand and do not bear interest.

Other creditors include deferred income totalling £67,250 (2023 : £269,708).

8. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Deferred income	147,917		182,917

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2024		2023
	£		£
Accruals and deferred income	47,917		72,917

9. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

	2024		2023
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	0		2,238

10. Related party transactions

The Company has availed of the exemption provided in FRS 102 Section 33 Related Party Disclosures not to disclose transactions entered into with fellow group companies that are wholly owned within the Group of companies of which the Company is a wholly owned member.

The Company did not have any material transactions that have not been concluded under normal market conditions during the year.

Included in other debtors is a directors loan totalling £14,196 (2023 £nil). The loan is interest free and was repaid post year end.

11. Ultimate controlling party

The immediate parent company is LawAdvisor Pty Ltd a company incorporated in Australia and has a registered office address of Tower 4/727 Collins St, Docklands Victoria 3008, Australia.

The ultimate parent company of the Company is Counsel Universe Ltd (formerly LawAdvisor Ventures Ltd) a company incorporated in the United Kingdom and has a registered address of Level 3 115 Golden Ln, London, England, EC1Y 0TJ.

The ultimate controlling party is Blantyre Chelsea PTY Limited.