REGISTERED NUMBER: 09899497 (England and Wales)

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 December 2024

for

Haig Legal Group Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Consolidated Income Statement

8

Consolidated Other Comprehensive Income

9

Consolidated Balance Sheet

10

Company Balance Sheet

11

Consolidated Statement of Changes in Equity

12

Company Statement of Changes in Equity

13

Consolidated Cash Flow Statement

14

Notes to the Consolidated Cash Flow Statement

15

Notes to the Consolidated Financial Statements

16

DIRECTORS:

H Claydon

I Peace

A C Townsend

REGISTERED OFFICE:

1st Floor, Pinnacle House

991 Doddington Road

Lincoln

LN6 3SE

REGISTERED NUMBER:

09899497 (England and Wales)

AUDITORS:

KJA Kilner Johnson Ltd (Statutory Auditors)

Woodland House

Woodland Park

Bradford Road

Cleckheaton

BD19 6BW

The directors present their strategic report of the company and the group for the year ended 31 December 2024.

REVIEW OF BUSINESS

The principal activities of the Group are the provision of full service estate planning and legal services. The directors are not aware, at the date of this report, of any likely changes to the activities of the group or the company in the forthcoming year.

The Group consists of HAIG Legal Group Limited (parent), Simpler Law Limited, Fidelis Legal Services Limited and Northwood Banks & Co Limited, the latter being acquired in December 2022.

As shown in the profit and loss account, the revenue for the group for the year ended 31 December 2024 was £10,160,369. This compared to £7,925,643 for the year ended 31 December 2023, an overall increase of 28.2%.

Operating profit increased from £494,188 in the year ended 31 December 2023 to £1,646,343 in the year ended 31 December 2024, an increase of 333%.

At 31 December 2024 the Group had net assets of £1,783,451, (£1,645,727 at 31 December 2023).

PRINCIPAL RISKS AND UNCERTAINTIES

The Group operates in a competitive market and manages its leading position through the provision of a high quality service which are well trusted by its customers. This is underpinned by a best in class service model developed by its highly experienced management team which includes the adherence to a strict set of compliance processes and procedures.

The Group has grown significantly in recent years with increasing staff numbers, all trained to the same standards as the experienced core team. The importance of the quality of the service model is demonstrated with the consistent monitoring by management of both financial and compliance performance down to an individual level, plus importantly customer feedback.

The Group's activities expose it to several financial risks including credit and liquidity risk. The Group maintains a healthy balance sheet which remains strong due to continued investment in the Group's assets that allow the business to run efficiently.

Credit Risk

The Group's principal financial assets are cash and trade and other receivables.

The Group's credit risk is primarily attributed to its trade receivables. The vast majority of its revenue is paid in advance of the delivery of services with only a modest proportion of customers, with strong credit ratings, being offered credit terms. In this respect credit risk is perceived as minimal.

Liquidity Risk

Naturally the Group requires a certain level of cash reserves to meet its liabilities as they fall due but also to allow investment into new activities and assets to underpin further growth in the business. As such cash is monitored closely and the Group has access to debt facilities to allow further investment when required.

POST BALANCE SHEET EVENT

At the date of this report the Group has recently moved it's head office operations to new leased offices to provide capacity for future growth. It is expected during 2025 the freehold property, which previously housed its head office, will be sold. In addition the Group has obtained a loan totalling £237,000 to help fund the office relocation.

DEVELOPMENT AND PERFORMANCE

The directors expect to see further strong organic growth in the forthcoming year alongside the continued refinement of it's existing business and service model.

KEY PERFORMANCE INDICATORS

The Group monitors financial performance including turnover growth, revenue line, gross and operating margins and EBITDA performance against both budget and past performance.

The Group has performed in line with expectations with strong turnover and profit growth. The monitoring of customer feedback is also seen as an important health check of the non financial performance of the business.

GOING CONCERN

The Group maintains an appropriate level of cash reserves which, alongside access to both current and potential debt facilities, provide adequate funding access for both day to day and investment purposes. With continued profitable growth and strong cash generation expected the directors are pleased to state that their going concern assessment remains appropriate.

The Group also has an excellent working relationship with its bankers, with further loan facilities undertaken post year end to further investment in group working capital, as well as the refurbishment of the new offices moved into in August 2025.

ON BEHALF OF THE BOARD:

A C Townsend - Director

23 December 2025

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2024.

PRINCIPAL ACTIVITIES

The principal activities of the group in the year under review were those of probate, legal & ancillary services.

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2024 will be £832,001 (2023: £331,037).

The dividend per A Ordinary share is £583 (2023: £230), dividend per C Ordinary share is £1,303 (2023: £597) and dividend per D Ordinary share is £2,506 (2023: £854).

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

H Claydon

I Peace

A C Townsend

POLITICAL DONATIONS AND EXPENDITURE

During the year the group made charitable donations totalling £5,410.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, KJA Kilner Johnson Ltd (Statutory Auditors), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

A C Townsend - Director

23 December 2025

Opinion

We have audited the financial statements of Haig Legal Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2024 and of the group's 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.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

While planning our audit, we have made enquiries of management and those charged with governance around any actual or potential litigation and claims against the company for non-compliance with specific laws and regulations. The same has been done in respect of any instances of fraud or irregularities. The responses received have been communicated with the engagement team at the planning stage.

We have not been informed of any specific laws or regulatory related issues that could materially impact the financial statements in addition to this, there has been no suspected fraud or irregularities reported to us.

While planning our audit the engagement partner selected appropriately trained staff to be engaged in the audit and the team are allocated based on their competence and capabilities.

The audit work undertaken is a substantive work based audit approach, reviewing to source documentation where appropriate and includes a review and walkthrough of the systems which management have put in place. These tests are directional. Therefore, they are designed in a way to maximise audit effectiveness and the possible identification of any material fraud, irregularities, or instances of systems and procedure breaches. Our testing did not identify any issues that requires any additional reporting.

These tests and other areas of our audit work are designed to enhance our ability to detect cases of material fraud and certain irregularities. It should be noted that our audit is carried out using a material based approach and therefore does not test every transaction, as such it would not detect all instances of irregularities and specifically fraud which is inherently more difficult to detect.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Other matters

In line with ISA (UK) 710 Paragraph 14, we state the fact that the corresponding figures are unaudited. We have performed audit procedures to obtain sufficient appropriate audit evidence that the opening balances do not contain misstatements that materially affect the current period's financial statements.

We have performed audit procedures to obtain sufficient appropriate audit evidence that the opening balances do not contain misstatements that materially affect the current period's financial statements Please refer to note 10 of the accounts for further details.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Samantha Hutton FCCA (Senior Statutory Auditor)

for and on behalf of KJA Kilner Johnson Ltd (Statutory Auditors)

Woodland House

Woodland Park

Bradford Road

Cleckheaton

BD19 6BW

24 December 2025

TURNOVER

3

10,338,965

7,925,643

Cost of sales

3,068,402

2,412,799

GROSS PROFIT

7,270,563

5,512,844

Administrative expenses

5,624,220

5,021,691

1,646,343

491,153

Other operating income

-

3,035

OPERATING PROFIT

5

1,646,343

494,188

Interest receivable and similar income

272,627

142,415

1,918,970

636,603

Interest payable and similar expenses

6

92,323

45,699

PROFIT BEFORE TAXATION

1,826,647

590,904

Tax on profit

7

356,922

268,367

PROFIT FOR THE FINANCIAL YEAR

1,469,725

322,537

Profit attributable to:

Owners of the parent

1,469,725

322,537

PROFIT FOR THE YEAR

1,469,725

322,537

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,469,725

322,537

Note

Prior year adjustment

10

(351,593

)

TOTAL COMPREHENSIVE INCOME SINCE LAST ANNUAL REPORT

1,118,132

Total comprehensive income attributable to:

Owners of the parent

1,118,132

322,537

FIXED ASSETS

Intangible assets

11

302,518

340,333

Tangible assets

12

1,286,784

1,267,051

Investments

13

-

-

1,589,302

1,607,384

CURRENT ASSETS

Stocks

14

261,936

129,911

Debtors

15

1,736,262

1,689,851

Cash at bank and in hand

268,858

300,471

2,267,056

2,120,233

CREDITORS

Amounts falling due within one year

16

1,952,510

1,150,936

NET CURRENT ASSETS

314,546

969,297

TOTAL ASSETS LESS CURRENT LIABILITIES

1,903,848

2,576,681

CREDITORS

Amounts falling due after more than one year

17

(105,682

)

(927,251

)

PROVISIONS FOR LIABILITIES

20

(14,715

)

(3,703

)

NET ASSETS

1,783,451

1,645,727

CAPITAL AND RESERVES

Called up share capital

21

1,000

501,000

Revaluation reserve

22

275,154

275,154

Retained earnings

22

1,507,297

869,573

1,783,451

1,645,727

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

A C Townsend - Director

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

1,257,308

1,244,048

Investments

13

835,002

835,002

2,092,310

2,079,050

CURRENT ASSETS

Debtors

15

1,345,973

1,127,995

Cash at bank and in hand

47,158

136,338

1,393,131

1,264,333

CREDITORS

Amounts falling due within one year

16

2,278,655

1,285,229

NET CURRENT LIABILITIES

(885,524

)

(20,896

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,206,786

2,058,154

CREDITORS

Amounts falling due after more than one year

17

(47,485

)

(813,234

)

PROVISIONS FOR LIABILITIES

20

(11,928

)

-

NET ASSETS

1,147,373

1,244,920

CAPITAL AND RESERVES

Called up share capital

21

1,000

501,000

Revaluation reserve

22

275,154

275,154

Retained earnings

22

871,219

468,766

1,147,373

1,244,920

Company's profit for the financial year

1,234,188

339,895

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

A C Townsend - Director

Called up

share

Retained

Share

Revaluation

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 January 2023

501,000

878,073

156,629

275,154

1,810,856

Changes in equity

Issue of share capital

-

-

(156,629

)

-

(156,629

)

Dividends

-

(331,037

)

-

-

(331,037

)

Total comprehensive income

-

674,130

-

-

674,130

Balance at 31 December 2023

501,000

1,221,166

-

275,154

1,997,320

Prior year adjustment

-

(351,593

)

-

-

(351,593

)

As restated

501,000

869,573

-

275,154

1,645,727

Changes in equity

Reduction in share capital

(500,000

)

-

-

-

(500,000

)

Dividends

-

(832,001

)

-

-

(832,001

)

Total comprehensive income

-

1,469,725

-

-

1,469,725

Balance at 31 December 2024

1,000

1,507,297

-

275,154

1,783,451

Called up

share

Retained

Share

Revaluation

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 January 2023

501,000

459,908

156,629

275,154

1,392,691

Changes in equity

Issue of share capital

-

-

(156,629

)

-

(156,629

)

Dividends

-

(331,037

)

-

-

(331,037

)

Total comprehensive income

-

339,895

-

-

339,895

Balance at 31 December 2023

501,000

468,766

-

275,154

1,244,920

Changes in equity

Reduction in share capital

(500,000

)

-

-

-

(500,000

)

Dividends

-

(832,001

)

-

-

(832,001

)

Total comprehensive income

-

1,234,188

-

-

1,234,188

Balance at 31 December 2024

1,000

870,953

-

275,154

1,147,107

Cash flows from operating activities

Cash generated from operations

1

916,197

333,560

Interest paid

(92,323

)

(45,699

)

Tax paid

(189,437

)

(137,046

)

Net cash from operating activities

634,437

150,815

Cash flows from investing activities

Purchase of tangible fixed assets

(83,620

)

(67,295

)

Purchase of fixed asset investments

-

(835,000

)

Interest received

272,627

142,415

Net cash from investing activities

189,007

(759,880

)

Cash flows from financing activities

New loans in year

-

1,336,474

Loan repayments in year

57,862

-

Amount introduced by directors

500,000

-

Amount withdrawn by directors

-

(500,000

)

Share issue

-

(500,999

)

Share buyback

(500,000

)

-

Equity dividends paid

(832,001

)

(331,037

)

Net cash from financing activities

(774,139

)

4,438

Increase/(decrease) in cash and cash equivalents

49,305

(604,627

)

Cash and cash equivalents at beginning of year

2

141,304

745,931

Cash and cash equivalents at end of year

2

190,609

141,304

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024

2023

as restated

£

£

Profit before taxation

1,826,647

590,904

Depreciation charges

101,702

74,344

Finance costs

92,323

45,699

Finance income

(272,627

)

(142,415

)

1,748,045

568,532

Increase in stocks

(132,025

)

(66,506

)

Increase in trade and other debtors

(546,411

)

(86,595

)

Decrease in trade and other creditors

(153,412

)

(81,871

)

Cash generated from operations

916,197

333,560

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

268,858

300,471

Bank overdrafts

(78,249

)

(159,167

)

190,609

141,304

Year ended 31 December 2023

31.12.23

1.1.23

as restated

£

£

Cash and cash equivalents

300,471

745,931

Bank overdrafts

(159,167

)

-

141,304

745,931

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

300,471

(31,613

)

268,858

Bank overdrafts

(159,167

)

80,918

(78,249

)

141,304

49,305

190,609

Debt

Debts falling due within 1 year

(223,595

)

(452,893

)

(676,488

)

Debts falling due after 1 year

(723,111

)

617,429

(105,682

)

(946,706

)

164,536

(782,170

)

Total

(805,402

)

213,841

(591,561

)