Litigationware Limited 30/04/2025 iXBRL

Company registration number: 11492275

Litigationware Limited

Trading as Finlegal

Unaudited filleted financial statements

30 April 2025

Litigationware Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Litigationware Limited

Directors and other information


	Directors	Mr S. Shinn


	Company number	11492275


	Registered office	Unit 8, Acorn Business Park
		Woodseats Close
		Sheffield
		S8 0TB


	Accountants	Henry Bramall & Co Limited
		Unit 8, Acorn Business Park
		Woodseats Close
		Sheffield
		S8 0TB




	Bankers	National Westminster Bank
		Hunters Bar
		669 Ecclesall Road
		Sheffield
		S11 8PW

Litigationware Limited

Report to the board of directors on the preparation of the

unaudited statutory financial statements of Litigationware Limited

Year ended 30 April 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Litigationware Limited for the year ended 30 April 2025 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.

This report is made solely to the board of directors of Litigationware Limited, as a body, in accordance with the terms of our engagement letter dated 2 July 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Litigationware Limited and state those matters that we have agreed to state to the board of directors of Litigationware Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Litigationware Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Litigationware Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Litigationware Limited. You consider that Litigationware Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Litigationware Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Henry Bramall & Co Limited

Chartered Certifiefd Accountants

Unit 8, Acorn Business Park

Woodseats Close

Sheffield

S8 0TB

22 December 2025

Litigationware Limited

Statement of financial position

30 April 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	5	-		81,159
Tangible assets	6	37,522		8,684
		_______		_______
			37,522		89,843

Current assets
Debtors	7	830,183		986,960
Cash at bank and in hand		415,271		241,327
		_______		_______
		1,245,454		1,228,287
Creditors: amounts falling due
within one year	8	( 816,899)		( 860,661)
		_______		_______
Net current assets			428,555		367,626
			_______		_______
Total assets less current liabilities			466,077		457,469

Creditors: amounts falling due
after more than one year	9		( 9,486)		( 25,676)
			_______		_______
Net assets			456,591		431,793
			_______		_______

Capital and reserves
Called up share capital	10		215		183
Share premium account			5,070,141		3,570,170
Profit and loss account			( 4,613,765)		( 3,138,560)
			_______		_______
Shareholders funds			456,591		431,793
			_______		_______

For the year ending 30 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 financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 22 December 2025 , and are signed on behalf of the board by:

Mr S. Shinn

Director

Company registration number: 11492275

Litigationware Limited

Notes to the financial statements

Year ended 30 April 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 8, Acorn Business Park, Woodseats Close, Sheffield, S8 0TB.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The business grew claims automation annual recurring revenue (ARR) by 87% in the year to 30 April 2024. On account of the excellent sales performance, the business secured £1.5m investment in June 2024. The investment was used in the year to continue product development to tighten the company's product market fit, and, then increase international sales activity. The board knew that FY25 would be loss making due to this early investment into team and product development in advance of the new customers and the associated revenue growth. Whilst the business has grown recognised revenue in FY25 by 40% the business required further funding post year end to support a longer period of product development in AI. Further investment of £1.3m was received in June 2025 to continue the development and to support the business until a break even in FY27. The board continues to review regular financial forecasts to ensure the business meets all its obligations and the Directors have a plan that maintains sufficient resources on the path to profitability.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

Corporation tax losses sustained and carried forward have not been valued as a deferred asset. The company is in the process of submitting a Research and Development claim which will be used to obtain a tax credit.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Software developed	-	20 %	straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Research and development

Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Fittings fixtures and equipment	-	33 %	straight line
Leasehold improvements	-	10 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets .

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 31 (2024: 22 ).

5. Intangible assets

	Other intangible assets	Total
	£	£
Cost
At 1 May 2024 and 30 April 2025	476,931	476,931
	_______	_______
Amortisation
At 1 May 2024	395,773	395,773
Charge for the year	81,158	81,158
	_______	_______
At 30 April 2025	476,931	476,931
	_______	_______
Carrying amount
At 30 April 2025	-	-
	_______	_______
At 30 April 2024	81,158	81,158
	_______	_______

6. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Leasehold improvements	Total
	£	£	£	£
Cost
At 1 May 2024	1,330	29,606	-	30,936
Additions	-	39,890	3,480	43,370
	_______	_______	_______	_______
At 30 April 2025	1,330	69,496	3,480	74,306
	_______	_______	_______	_______
Depreciation
At 1 May 2024	775	21,477	-	22,252
Charge for the year	442	13,728	362	14,532
	_______	_______	_______	_______
At 30 April 2025	1,217	35,205	362	36,784
	_______	_______	_______	_______
Carrying amount
At 30 April 2025	113	34,291	3,118	37,522
	_______	_______	_______	_______
At 30 April 2024	555	8,129	-	8,684
	_______	_______	_______	_______

7. Debtors

	2025	2024
	£	£
Trade debtors	499,943	645,084
Other debtors	330,240	341,876
	_______	_______
	830,183	986,960
	_______	_______

Other debtors includes a Research and Development tax credit equating to £168,239 (2024 - £274,086). This is disclosed as receivable under one year.

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	6,190	22,697
Trade creditors	98,115	108,141
Social security and other taxes	139,761	115,527
Other creditors	572,833	614,296
	_______	_______
	816,899	860,661
	_______	_______

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

	2025	2024
	£	£
Other creditors	9,486	25,676
	_______	_______

10. Called up share capital

	2025		2024
	No	£	No	£
Ordinary A shares of £0.0001 each	347,791	35	750,000	75
Ordinary B shares of £0.0001 each	1,799,740	180	1,075,430	108
	_______	_______	_______	_______
	2,147,531	215	1,825,430	183
	_______	_______	_______	_______

During the period there has been changes in the issued share capital of the Company. 647,709 A ordinary shares of £0.0001 each were redesignated into 647,709 B ordinary shares of £0.0001 each. A further 245,500 A ordinary shares of £0.0001 each in the capital of the Company have been issued and allotted. A further 57,343 B ordinary shares of £0.0001 each in the capital of the Company have been issued and allotted.

11. Operating leases

The company as lessee

The total future minimum lease payments under non-cancellable operating leases are as follows:


	£	£

Not later than 1 year	54,188	-
Later than 1 year and not later than 5 years	40,940	-
	_______	_______
	95,128	-
	_______	_______

Lease commitments in respect of vehicles and the rental of land and buildings are included in the above.

12. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2025
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr S. Shinn	16,414	1,066	-	17,480
		_______	_______	_______	_______

2024
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr S. Shinn	4,352	16,292	( 4,230)	16,414
		_______	_______	_______	_______

This advance was repaid in May 2025. No interest has been charged on this advance.