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Registration number: 11838085

HJ Holdco Limited
Annual Report and Consolidated Financial Statements
for the Period from 1 August 2024 to 30 September 2025

HJ Holdco Limited

Contents

Company Information | 1
Strategic Report | 2
Directors' Report | 3
Statement of Directors' Responsibilities | 4
Independent Auditor's Report | 5 to 7
Consolidated Statement of Income and Retained Earnings | 8
Consolidated Balance Sheet | 9
Balance Sheet | 10
Consolidated Statement of Cash Flows | 11 to 12
Notes to the Financial Statements | 13 to 24

HJ Holdco Limited

Company Information

Directors | T Harper A J Kudryl

Registered office | Floor 5, Cavendish House 39-41 Waterloo Street Birmingham B2 5PP

Auditors | Hawsons Chartered Accountants Pegasus House 463a Glossop Road Sheffield South Yorkshire S10 2QD

HJ Holdco Limited

Strategic Report for the period from 1 August 2024 to 30 September 2025

The directors present their strategic report for the period from 1 August 2024 to 30 September 2025.

Principal activity

The principal activity of the group during the period was the provision of commercial legal services to businesses throughout the United Kingdom through its trading subsidiary.

Fair review of the business

The Group continued to perform satisfactorily during the period, maintaining growth in revenues and client activity despite ongoing economic uncertainty affecting the wider market.
The Group continued to invest in its operational platform, technology infrastructure and people during the period in support of its long-term strategic objectives.
In September 2025, the Group underwent a change in ownership following an investment transaction involving newly incorporated holding entities within the wider group structure. Transaction-related costs incurred during the period have been recognised within administrative expenses.
The directors remain focused on the continued development of the Group’s service offering, operational scalability and sustainable long-term growth.
The Board monitors progress on the company's strategy by reference to two key performance indicators. Performance during the period is as follows:

| 2025 | 2024
Turnover | £17,425,855 | £11,816,277
Profit before tax | £2,059,754 | £1,458,734

Principal risks and uncertainties

The principal risks and uncertainties facing the Group include:
• recruitment and retention of legal and professional staff;
• competitive pressures within the legal services sector;
• cyber security and information protection risks; and
• compliance with legal and regulatory obligations.
The directors regularly monitor these risks and maintain appropriate governance procedures and internal controls designed to mitigate their impact on the Group.

Future developments

Following the investment transaction completed during the period, the directors believe that the Group is well positioned to continue executing its long-term growth strategy.
The directors remain cautiously optimistic regarding trading performance for the forthcoming financial year.

Approved and authorised by the Board on 24 June 2026 and signed on its behalf by:

......................................... T Harper Director

HJ Holdco Limited

Directors' Report for the Period from 1 August 2024 to 30 September 2025

The directors present their report and the for the period from 1 August 2024 to 30 September 2025.

Directors of the group

The directors who held office during the period were as follows:

T Harper

G L Harper (ceased 4 September 2025)

A J Kudryl (appointed 4 September 2025)

Dividends
The directors do not recommend payment of a dividend.

Directors' liabilities

The company has made qualifying third party indemnity provisions for the benefits of its directors which were made during the year and remain in force at the date of this report.

Disclosure of information to the auditor

Each director of the company who held office at the date of the approval of this Annual Report, as set out above, confirms that:
• so far as they are aware, there is no relevant audit information (information needed by the company's auditors in connection with preparing their report) of which the company's auditors are unaware, and
• they have taken all the steps they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

Reappointment of auditors

The auditors Hawsons Chartered Accountants are deemed to be reappointed under section 487(2) of the Companies Act 2006.

Approved and authorised by the Board on 24 June 2026 and signed on its behalf by:

......................................... T Harper Director

HJ Holdco Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report 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 group and the company 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 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 group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and the company 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 group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

HJ Holdco Limited

Independent Auditor's Report to the Members of HJ Holdco Limited

Opinion

We have audited the financial statements of HJ Holdco Limited (the 'parent company') and its subsidiary (the 'group') for the period from 1 August 2024 to 30 September 2025, which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Cash Flows, and 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 the parent company's affairs as at 30 September 2025 and of the group's profit for the period 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 auditor 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.

Other matter

The financial statements for the period ended 30 September 2025 include corresponding figures for the year ended 31 July 2024. The corresponding figures for HJ Holdco Limited were not audited, and accordingly, we do not express an opinion or any form of assurance on them. Our opinion on the current period’s financial statements is not modified in respect of this matter.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's 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 ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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 other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. 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.

HJ Holdco Limited

Independent Auditor's Report to the Members of HJ Holdco Limited (continued)

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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Opinion on other matter 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 Strategic Report and Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and

• | the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

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

We have nothing to report in respect of the following matters in relation to which 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 4, 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 is 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.

Auditor 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 an auditor’s report 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:

HJ Holdco Limited

Independent Auditor's Report to the Members of HJ Holdco Limited (continued)

The group and parent company are subject to laws and regulations that directly and indirectly affect the financial statements. Based on our understanding of the group and the parent company and the environment they operate within, we determined that the laws and regulations which were most significant included FRS 102 Section, Companies Act 2006 and Health and Safety regulations. We considered the extent to which non-compliance with these laws and regulations might have a material effect on the financial statements, including how fraud might occur. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the posting of inappropriate journal entries to improve the company’s result for the period, and management bias in key accounting estimates.
Audit procedures performed by the engagement team included:

• | Discussions with management and those responsible for legal compliance procedures within the company to obtain an understanding of the legal and regulatory framework applicable to the company and how the company complies with that framework, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;

• | Identifying and assessing the design effectiveness of controls that management has in place to prevent and detect fraud and non-compliance with laws and regulations;

• | Challenging assumptions and judgements made by management in their significant accounting estimates;

• | Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations or posted by senior management.

There are inherent limitations in the audit procedures described above and the more removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council's website at www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-of
-the-auditor’s-responsibilities-for. This description forms part of our auditor's report.

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 an auditor’s report 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.

......................................
Simon Bladen (Senior Statutory Auditor)
For and on behalf of Hawsons Chartered Accountants, Statutory Auditor
Pegasus House
463a Glossop Road
Sheffield
South Yorkshire
S10 2QD

25 June 2026

HJ Holdco Limited

Consolidated Statement of Income and Retained Earnings for the Period from 1 August 2024 to 30 September 2025

| Note | 14 Month period ended 30 September 2025 £ | Year ended 31 July 2024 £
Turnover | 2 | 17,425,855 | 11,816,277
Cost of sales |  | (8,493,495) | (5,845,379)
Gross profit |  | 8,932,360 | 5,970,898
Administrative expenses |  | (6,707,511) | (4,583,790)
Operating profit | 3 | 2,224,849 | 1,387,108
Other interest receivable and similar income |  | (8,205) | 86,447
Interest payable and similar charges | 4 | (156,890) | (14,821)
Profit before tax |  | 2,059,754 | 1,458,734
Taxation | 7 | (645,090) | (362,317)
Profit for the financial period |  | 1,414,664 | 1,096,417
Profit attributable to: |  |  |
Owners of the company |  | 1,414,664 | 1,096,417
Retained earnings brought forward |  | 3,274,065 | 2,177,648
Retained earnings carried forward |  | 4,688,729 | 3,274,065

HJ Holdco Limited

(Registration number: 11838085)
Consolidated Balance Sheet as at 30 September 2025

| Note | 30 September 2025 £ | 31 July 2024 £
Fixed assets |  |  |
Intangible assets | 8 | 566,636 | 134,447
Tangible assets | 9 | 152,341 | 202,705
|  | 718,977 | 337,152
Current assets |  |  |
Debtors | 11 | 4,763,040 | 4,334,327
Cash at bank and in hand |  | 2,257,812 | 1,537,870
|  | 7,020,852 | 5,872,197
Creditors: Amounts falling due within one year | 12 | (2,977,963) | (2,881,282)
Net current assets |  | 4,042,889 | 2,990,915
Total assets less current liabilities |  | 4,761,866 | 3,328,067
Creditors: Amounts falling due after more than one year | 12 | (73,135) | (54,000)
Net assets |  | 4,688,731 | 3,274,067
Capital and reserves |  |  |
Called up share capital | 14 | 2 | 2
Retained earnings |  | 4,688,729 | 3,274,065
Equity attributable to owners of the company |  | 4,688,731 | 3,274,067
Shareholders' funds |  | 4,688,731 | 3,274,067

Approved and authorised by the Board on 24 June 2026 and signed on its behalf by:

......................................... T Harper Director

HJ Holdco Limited

(Registration number: 11838085)
Balance Sheet as at 30 September 2025

| Note | 30 September 2025 £ | 31 July 2024 £
Fixed assets |  |  |
Investments | 10 | 1 | 1
Current assets |  |  |
Debtors | 11 | 1,520,370 | 2,307,788
Cash at bank and in hand |  | 83 | 603,185
|  | 1,520,453 | 2,910,973
Creditors: Amounts falling due within one year | 12 | (40,296) | (1,368,800)
Net current assets |  | 1,480,157 | 1,542,173
Net assets |  | 1,480,158 | 1,542,174
Capital and reserves |  |  |
Called up share capital | 14 | 2 | 2
Retained earnings |  | 1,480,156 | 1,542,172
Shareholders' funds |  | 1,480,158 | 1,542,174

Approved and authorised by the Board on 24 June 2026 and signed on its behalf by:

......................................... T Harper Director

HJ Holdco Limited

Consolidated Statement of Cash Flows for the Period from 1 August 2024 to 30 September 2025

| Note | 14 month period ended 30 September 2025 £ | Year ended 31 July 2024 £
Cash flows from operating activities
Profit for the period |  | 1,414,664 | 1,096,417
Adjustments to cash flows from non-cash items |  |  |
Depreciation and amortisation | 3 | 92,802 | 78,396
Profit on disposal of tangible assets |  | (5,475) | -
Finance income |  | 8,205 | (86,447)
Finance costs | 4 | 156,890 | 14,821
Income tax expense | 7 | 645,090 | 362,317
|  | 2,312,176 | 1,465,504
Working capital adjustments |  |  |
Increase in trade debtors | 11 | (454,713) | (1,098,313)
Increase in trade creditors | 12 | 345,485 | 382,653
Cash generated from operations |  | 2,202,948 | 749,844
Income taxes paid | 7 | (837,859) | (489,768)
Net cash flow from operating activities |  | 1,365,089 | 260,076
Cash flows from investing activities |  |  |
Interest received |  | (8,205) | 86,447
Acquisitions of tangible assets |  | (14,551) | (5,723)
Acquisition of intangible assets | 8 | (447,374) | (139,138)
Net cash flows from investing activities |  | (470,130) | (58,414)
Cash flows from financing activities |  |  |
Interest paid | 4 | (156,890) | (14,821)
Payments to finance lease creditors |  | (18,127) | (15,560)
Net cash flows from financing activities |  | (175,017) | (30,381)
Net increase in cash and cash equivalents |  | 719,942 | 171,281
Cash and cash equivalents at 1 August |  | 1,537,870 | 1,366,589
Cash and cash equivalents at 30 September |  | 2,257,812 | 1,537,870

HJ Holdco Limited

Consolidated Statement of Cash Flows for the Period from 1 August 2024 to 30 September 2025 (continued)

|  | At 1 August 2024 |  | Cash flows |  | Other non-cash changes |  | At 30 September 2025
|  | £ |  | £ |  | £ |  | £
Cash and cash equivalents |  |  |  |  |  |  |  |
Cash at bank and in hand |  | 1,537,870 |  | 719,942 |  | - |  | 2,257,812
Total net funds |  | 1,537,870 |  | 719,942 |  | - |  | 2,257,812

HJ Holdco Limited

Notes to the Financial Statements for the Period from 1 August 2024 to 30 September 2025

1 | Accounting policies

Statutory information

HJ Holdco Limited is a private company, limited by shares, domiciled in England and Wales, company number 11838085. The registered office is at Floor 5, Cavendish House, 39-41 Waterloo Street, Birmingham, B2 5PP.

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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company.

Basis of consolidation

The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 30 September 2025.

Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.
Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.
No profit and loss account is presented for the company as permitted by Section 408 of the Companies Act 2006. Its loss for the financial period was £62,017 (Year ended 31 July 2024 - profit of £34,839).

Going concern

After due consideration of all relevant factors, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.The financial statements have been prepared on a going concern basis.

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 sales/value added tax and discounts. Revenue is recognised by reference to amounts invoiced and services provided in accordance with contracts agreed with clients and amounts charged to clients based on legal services provided during the period. Amounts invoiced in advance are deferred based on the terms of the contract and usage of services.

HJ Holdco Limited

Notes to the Financial Statements for the Period from 1 August 2024 to 30 September 2025 (continued)

1 | Accounting policies (continued)

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 group operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the consolidated 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 over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Computer equipment | 25% on cost
Furniture & office equipment | 25% on cost
Motor vehicles | 25% - 33% on cost

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.

Amortisation

Amortisation is provided on intangible assets, other than assets under construction, so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Assets under construction | nil
Other | 4-10 years

HJ Holdco Limited

Notes to the Financial Statements for the Period from 1 August 2024 to 30 September 2025 (continued)

1 | Accounting policies (continued)

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group 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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

HJ Holdco Limited

Notes to the Financial Statements for the Period from 1 August 2024 to 30 September 2025 (continued)

2 | Turnover

The total turnover of the company for the period has been derived from its principal activity wholly undertaken in the United Kingdom.
All revenue is derived from the provision of legal services.

3 | Operating profit

Arrived at after charging/(crediting)

| 14 month period ended 30 September 2025 £ | Year ended 31 July 2024 £
Depreciation expense | 82,827 | 69,646
Amortisation expense | 9,975 | 8,550
Profit on disposal of property, plant and equipment | (5,475) | -
Audit fee | 18,500 | -

Exceptional items
Administration expenses include exceptional legal and professional charges relating to the investment transaction involving the wider group structure amounting to £535,189 (2024 - £nil).

4 | Interest payable and similar expenses

| 14 month period ended 30 September 2025 £ | Year ended 31 July 2024 £
Interest on bank and other borrowings | 121,187 | 14,821
Other interest payable | 35,703 | -
| 156,890 | 14,821

HJ Holdco Limited

Notes to the Financial Statements for the Period from 1 August 2024 to 30 September 2025 (continued)

5 | Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

| 14 month period ended 30 September 2025 £ | Year ended 31 July 2024 £
Wages and salaries | 9,024,489 | 6,551,779
Social security costs | 1,159,233 | 758,800
Pension costs, defined contribution scheme | 1,132,527 | 833,940
| 11,316,249 | 8,144,519

The average number of persons employed by the group (including directors) during the period, analysed by category was as follows:

| 2025 No. | 2024 No.
Legal services | 65 | 61
Sales and marketing | 28 | 17
Finance and operations | 26 | 26
Directors and management | 7 | 7
| 126 | 111

6 | Directors' remuneration

The directors' remuneration for the period was as follows:

| 14 month period ended 30 September 2025 £ | Year ended 31 July 2024 £
Remuneration | 144,525 | 375,990
Contributions paid to money purchase schemes | 156,213 | 7,279
| 300,738 | 383,269

HJ Holdco Limited

Notes to the Financial Statements for the Period from 1 August 2024 to 30 September 2025 (continued)

7 | Taxation

Tax charged/(credited) in the consolidated profit and loss account

| 14 month period ended 30 September 2025 £ | Year ended 31 July 2024 £
Current taxation |  |
UK corporation tax | 619,090 | 418,817
Deferred taxation |  |
Arising from origination and reversal of timing differences | 26,000 | (56,500)
Tax expense in the income statement | 645,090 | 362,317

The tax on profit before tax for the period is higher than the standard rate of corporation tax in the UK (2024 - higher than the standard rate of corporation tax in the UK) of 25% (2024 - 25%).
The differences are reconciled below:

| 2025 £ | 2024 £
Profit before tax | 2,059,754 | 1,458,734
Corporation tax at standard rate | 514,939 | 364,684
Effect of expenses not deductible in determining taxable profit | 119,150 | 2,041
Tax increase (decrease) from other tax effects | 11,001 | (4,408)
Total tax charge | 645,090 | 362,317

Deferred tax

Group

Deferred tax assets and liabilities

2025 | Asset £
Short term timing differences | 19,100
Accelerated capital allowances | 2,900
| 22,000

2024 | Asset £
Short term timing differences | 55,040
Accelerated capital allowances | (7,040)
| 48,000

Company
The company has no deferred tax asset or liability.

HJ Holdco Limited

Notes to the Financial Statements for the Period from 1 August 2024 to 30 September 2025 (continued)

8 | Intangible assets

Group

| Assets under construction £ | Other intangible assets £ | Total £
Cost or valuation
At 1 August 2024 | 335,206 | 48,000 | 383,206
Additions | 447,374 | - | 447,374
Disposals | (243,202) | - | (243,202)
At 30 September 2025 | 539,378 | 48,000 | 587,378
Amortisation
At 1 August 2024 | 243,202 | 10,767 | 253,969
Amortisation charge | - | 9,975 | 9,975
Amortisation eliminated on disposals | (243,202) | - | (243,202)
At 30 September 2025 | - | 20,742 | 20,742
Carrying amount
At 30 September 2025 | 539,378 | 27,258 | 566,636
At 31 July 2024 | 98,639 | 35,808 | 134,447

HJ Holdco Limited

Notes to the Financial Statements for the Period from 1 August 2024 to 30 September 2025 (continued)

9 | Tangible assets

Group

| Computer equipment £ | Furniture and office equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 August 2024 | 93,905 | 31,900 | 225,353 | 351,158
Additions | - | - | 120,750 | 120,750
Disposals | - | - | (169,528) | (169,528)
At 30 September 2025 | 93,905 | 31,900 | 176,575 | 302,380
Depreciation
At 1 August 2024 | 52,971 | 16,048 | 74,226 | 143,245
Charge for the period | 27,159 | 8,784 | 46,884 | 82,827
Eliminated on disposal | - | - | (76,033) | (76,033)
At 30 September 2025 | 80,130 | 24,832 | 45,077 | 150,039
Carrying amount
At 30 September 2025 | 13,775 | 7,068 | 131,498 | 152,341
At 31 July 2024 | 43,477 | 14,597 | 144,631 | 202,705

Assets held under finance leases and hire purchase contracts

The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:

| 2025 £ | 2024 £
Motor vehicles | 109,401 | 112,747

HJ Holdco Limited

Notes to the Financial Statements for the Period from 1 August 2024 to 30 September 2025 (continued)

10 | Investments

Group

Details of undertakings

Details of the investments in which the group holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking | Country of incorporation | Holding | Proportion of voting rights and shares held
|  |  | 2025 | 2024
Subsidiary undertakings
Harper James Limited | England | Ordinary | 100% | 100%

Subsidiary undertakings

The principal activity of Harper James Limited is the provision of commercial legal services.

11 | Debtors

| Group | Company
Current | 30 September 2025 £ | 31 July 2024 £ | 30 September 2025 £ | 31 July 2024 £
Trade debtors | 1,970,233 | 1,541,886 | - | -
Amounts owed by related parties | 2,297,008 | - | 1,189,178 | -
Other debtors | 340,515 | 2,417,769 | 331,192 | 2,307,788
Prepayments | 133,284 | 326,672 | - | -
Deferred tax assets | 22,000 | 48,000 | - | -
| 4,763,040 | 4,334,327 | 1,520,370 | 2,307,788

HJ Holdco Limited

Notes to the Financial Statements for the Period from 1 August 2024 to 30 September 2025 (continued)

12 | Creditors

| Group | Company
| 30 September 2025 £ | 31 July 2024 £ | 30 September 2025 £ | 31 July 2024 £
Due within one year |  |  |  |
Loans and borrowings | 17,426 | 47,459 | - | -
Trade creditors | 110,458 | 392,051 | - | -
Amounts due to related parties | - | - | 26,471 | 1,356,626
Corporation tax | 200,048 | 418,817 | - | 10,849
Social security and other taxes | 476,426 | 602,587 | - | -
Other creditors | 183,721 | 152,775 | - | -
Accruals and deferred income | 1,989,884 | 1,267,593 | 13,825 | 1,325
| 2,977,963 | 2,881,282 | 40,296 | 1,368,800
Due after one year |  |  |  |
Loans and borrowings | 73,135 | 54,000 | - | -

The hire purchase liabilities are secured by a charge over the relevant assets.

13 | Pension and other schemes

Defined contribution pension scheme

The group operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the group to the scheme and amounted to £1,132,527 (2024 - £833,940).
Contributions totalling £77,275 (2024 - £68,022) were payable to the scheme at the end of the period and are included in creditors.

14 | Share capital

Allotted, called up and fully paid shares

| 30 September 2025 | 31 July 2024
| No. | £ | No. | £
Ordinary shares of £0.001 each | 1,999 | 2 | 1,999 | 2

HJ Holdco Limited

Notes to the Financial Statements for the Period from 1 August 2024 to 30 September 2025 (continued)

15 | Related party transactions

Group

Key management personnel

The company has taken advantage of the exemption in FRS 102 from disclosing transactions with other members of the group.
During the period T Harper, a director of the company received interest free loans from the company totalling £2,761,269. During the year to 31 July 2024 T Harper received loans totalling £1,026,915 with interest charged of £35,575.The loans were repaid in full in September 2025. At the balance sheet date the balance due from T Harper was £Nil (2024 - £1,975,990).
The company's subsidiary undertaking, Harper James Limited has a fixed and floating charge over its assets in respect of a loan received from Investec Bank plc. Harper James Limited has also provided a fixed and floating charge to Ldc (Managers) Limited.

HJ Holdco Limited

Notes to the Financial Statements for the Period from 1 August 2024 to 30 September 2025 (continued)

16 | Parent and ultimate parent undertaking

The ultimate parent is H J Topco Limited, incorporated in England and Wales.
The company has no ultimate controlling party.