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Registration number: 09177736

Euclid Law Ltd
Unaudited Filleted Financial Statements
for the Year Ended 31 January 2026

Euclid Law Ltd

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 12

Euclid Law Ltd

Company Information

Directors | Oliver Bretz Sarah Long Natalie Greenwood Michael Reiss

Registered office | 34 Settles Street London E1 1JP

Accountants | Carbon Accountancy Limited Chartered Accountants 80-83 Long Lane London EC1A 9ET

Euclid Law Ltd

(Registration number: 09177736)
Balance Sheet as at 31 January 2026

| Note | 2026 £ | 2025 £
Fixed assets |  |  |
Tangible assets | 3 | 123,112 | 214,198
Investments | 4 | 8,841 | 8,841
Other financial assets |  | 16,560 | 16,560
|  | 148,513 | 239,599
Current assets |  |  |
Debtors | 5 | 1,415,890 | 1,060,543
Cash at bank and in hand |  | 646,237 | 1,124,736
|  | 2,062,127 | 2,185,279
Creditors: Amounts falling due within one year | 6 | (504,742) | (389,957)
Net current assets |  | 1,557,385 | 1,795,322
Total assets less current liabilities |  | 1,705,898 | 2,034,921
Creditors: Amounts falling due after more than one year | 6 | - | (5,546)
Provisions for liabilities |  | (6,507) | (22,661)
Net assets |  | 1,699,391 | 2,006,714
Capital and reserves |  |  |
Called up share capital | 7 | 1,000 | 1,000
Profit and loss account |  | 1,698,391 | 2,005,714
Total equity |  | 1,699,391 | 2,006,714

For the financial year ending 31 January 2026 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Euclid Law Ltd

(Registration number: 09177736)
Balance Sheet as at 31 January 2026 (continued)

These financial statements have been 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 28 April 2026 and signed on its behalf by:

......................................... Oliver Bretz Director

Euclid Law Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

1 | 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 smaller 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 that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and the group are considered eligible for the exemption as determined by reference to sections 384 and 399(2A) of the legislation.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

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

The current income 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.

Euclid Law Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (continued)

1 | Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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
Short leasehold improvements | over the period of the lease
Fixtures, fittings and equipment | between 20% and 33% straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Euclid Law Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (continued)

1 | Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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 receivables.

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 subsequently measured at amortised cost using the effective interest method.

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.

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.

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.

Euclid Law Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (continued)

1 | Accounting policies (continued)

Financial instruments

Classification
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Recognition and measurement
Basic financial assets, which include trade and other receivables 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.
Impairment
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

2 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2025 - 8).

Euclid Law Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (continued)

3 | Tangible assets

| Short leasehold land and buildings £ | Fixtures, fittings and office equipment £ | Total £
Cost or valuation
At 1 February 2025 | 45,973 | 392,737 | 438,710
Additions | - | 5,164 | 5,164
At 31 January 2026 | 45,973 | 397,901 | 443,874
Depreciation
At 1 February 2025 | 18,389 | 206,123 | 224,512
Charge for the year | 9,195 | 87,055 | 96,250
At 31 January 2026 | 27,584 | 293,178 | 320,762
Carrying amount
At 31 January 2026 | 18,389 | 104,723 | 123,112
At 31 January 2025 | 27,584 | 186,614 | 214,198

Included within the net book value of land and buildings above is £18,389 (2025 - £27,584) in respect of leasehold improvements.

4 | Investments

| 2026 £ | 2025 £
Investments in subsidiaries | 8,841 | 8,841

Subsidiaries | £
Cost or valuation
At 1 February 2025 | 8,841
Provision
Carrying amount
At 31 January 2026 | 8,841
At 31 January 2025 | 8,841

Euclid Law Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (continued)

4 | Investments (continued)

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2026 | 2025
Subsidiary undertakings
Euclid Law SRL | 119/2 Chaussee de Vleurgat, Bruxelles 1000 Belgium | Ordinary | 100% | 100%

5 | Debtors

Current | Note | 2026 £ | 2025 £
Trade debtors |  | 454,995 | 481,544
Amounts owed by related parties | 10 | 372,201 | 112,105
Other debtors |  | 588,694 | 466,894
|  | 1,415,890 | 1,060,543

6 | Creditors

Creditors: amounts falling due within one year

| 2026 £ | 2025 £
Due within one year |  |
Bank loans and overdrafts | 5,292 | 10,121
Trade creditors | 101,367 | 133,925
Taxation and social security | 195,595 | 71,749
Other creditors | 202,488 | 174,162
| 504,742 | 389,957
Due after one year |  |
Loans and borrowings | - | 5,546

Euclid Law Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (continued)

6 | Creditors (continued)

Creditors: amounts falling due after more than one year

| Note | 2026 £ | 2025 £
Due after one year |  |  |
Loans and borrowings | 8 | - | 5,546

7 | Share capital

Allotted, called up and fully paid shares

| 2026 | 2025
| No. | £ | No. | £
A Ordinary shares of £1 each | 550 | 550 | 550 | 550
B Ordinary shares of £1 each | 50 | 50 | 50 | 50
C Ordinary shares of £1 each | 50 | 50 | 50 | 50
D Ordinary shares of £1 each | 50 | 50 | 50 | 50
E Ordinary shares of £1 each | 100 | 100 | 100 | 100
F Ordinary shares of £1 each | 100 | 100 | 100 | 100
G Ordinary shares of £1 each | 50 | 50 | 50 | 50
H Ordinary shares of £1 each | 50 | 50 | 50 | 50
| 1,000 | 1,000 | 1,000 | 1,000

8 | Loans and borrowings

Non-current loans and borrowings

| 2026 £ | 2025 £
Bank borrowings | - | 5,546

Current loans and borrowings

| 2026 £ | 2025 £
Bank borrowings | 5,292 | 10,121

Euclid Law Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (continued)

9 | Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

| 2026 £ | 2025 £
Not later than one year | 48,000 | 48,000
Later than one year and not later than five years | 56,000 | 104,000
| 104,000 | 152,000

The amount of non-cancellable operating lease payments recognised as an expense during the year was £48,000 (2025 - £48,000).

10 | Related party transactions

Under FRS 102, details are not given in respect of transactions entered into with subsidiaries as these are wholly owned by the company.

Details of short term loan to directors included in other debtors

2026 | At 1 February 2025 £ | Advances to director £ | At 31 January 2026 £
Sarah Long
Interest bearing loan at 3.5% per annum | - | 106,334 | 106,334
Michael Reiss
Interest bearing loan at 3.5% per annum | - | 128,372 | 128,372

Details of loans from directors included in other creditors

During the period the following directors provided interest free loans to the company:
Oliver Bretz - £103,186 (2025 - £2,946)
Sarah Long - £12,000 (2025 - £Nil)
Michael Reiss - £12,000 (2025 - £Nil)

Euclid Law Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026 (continued)

10 | Related party transactions (continued)

Other related party transactions

During the period the company leased its office premises from the Euclid Law Shareholder Pension Scheme (ELSPS) in which O Bretz and M Leppard (until 25 February 2025) are both members. Under the terms of the lease, an annual rent of £48,000 (2025 - £48,000) was payable and at the period end £4,800 (2025 - £4,800) was due to ELSPS which is included in current liabilities.