Company registration number 08367875 (England and Wales)
Southerns Solicitors Limited
Unaudited Financial Statements
For the year ended 31 December 2025
Southerns Solicitors Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 9
Southerns Solicitors Limited
Statement Of Financial Position
As at 31 December 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
2,436
5,846
Tangible assets
4
131,865
166,362
134,301
172,208
Current assets
Stocks
846,375
709,896
Debtors
5
796,971
781,926
Cash at bank and in hand
549,791
558,356
2,193,137
2,050,178
Creditors: amounts falling due within one year
6
(740,825)
(781,458)
Net current assets
1,452,312
1,268,720
Total assets less current liabilities
1,586,613
1,440,928
Creditors: amounts falling due after more than one year
7
(2,466)
(12,680)
Provisions for liabilities
(25,522)
(33,397)
Net assets
1,558,625
1,394,851
Capital and reserves
Called up share capital
60
60
Share premium account
398,775
398,775
Capital redemption reserve
40
40
Profit and loss reserves
1,159,750
995,976
Total equity
1,558,625
1,394,851
Southerns Solicitors Limited
Statement Of Financial Position (continued)
As at 31 December 2025
31 December 2025
- 2 -

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 Companies Act 2006 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.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 2 July 2026 and are signed on its behalf by:
Mr N Cronin
Director
Company registration number 08367875 (England and Wales)
Southerns Solicitors Limited
Notes to the financial statements
For the year ended 31 December 2025
- 3 -
1
Accounting policies
Company information

Southerns Solicitors Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6a Hargreaves Street, Burnley, Lancashire, United Kingdom, BB11 1ES.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.3
Intangible fixed assets - goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in September 2024, has been impaired in full during the year.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
33% Straight Line
Southerns Solicitors Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
20% Straight Line
Fixtures and fittings
15% / 25% Reducing balance
Motor vehicles
25% Reducing Balance

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

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Southerns Solicitors Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
- 5 -
1.7
Work in progress

Work in Progress is stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items.

Cost includes all direct costs incurred in bringing each product or service to its present location and condition, including labour and materials, and an appropriate proportion of overheads based on normal levels of activity.

Where the outcome of a contract or project can be reliably estimated, revenue and associated costs are recognised by reference to the stage of completion at the reporting date. This is typically determined based on the proportion of costs incurred to date compared to the estimated total cost of the contract.

Where the outcome cannot be reliably estimated, revenue is recognised only to the extent of costs incurred that are expected to be recoverable. Expected losses on contracts are recognised as soon as they are foreseen.

Net realisable value is based on estimated selling price less further costs expected to be incurred to completion and disposal

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of work in progress over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

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.

Basic financial assets

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

Classification of financial liabilities

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

Southerns Solicitors Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
- 6 -
Basic financial liabilities

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

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

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

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

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

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases
Southerns Solicitors Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
- 7 -

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
57
47
3
Intangible fixed assets
Goodwill
Other
Total
£
£
£
Cost
At 1 January 2025
(16,995)
10,336
(6,659)
Revaluation
1,457
-
0
1,457
At 31 December 2025
(15,538)
10,336
(5,202)
Amortisation and impairment
At 1 January 2025
(16,995)
4,490
(12,505)
Amortisation charged for the year
1,457
3,410
4,867
At 31 December 2025
(15,538)
7,900
(7,638)
Carrying amount
At 31 December 2025
-
0
2,436
2,436
At 31 December 2024
-
0
5,846
5,846
Southerns Solicitors Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
- 8 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2025
83,107
192,229
275,336
Additions
4,589
11,015
15,604
At 31 December 2025
87,696
203,244
290,940
Depreciation and impairment
At 1 January 2025
16,621
92,353
108,974
Depreciation charged in the year
16,936
33,165
50,101
At 31 December 2025
33,557
125,518
159,075
Carrying amount
At 31 December 2025
54,139
77,726
131,865
At 31 December 2024
66,486
99,876
166,362
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
57,816
76,320
Other debtors
739,155
705,606
796,971
781,926
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
8,874
8,874
Trade creditors
308,521
299,266
Corporation tax
114,176
83,733
Other taxation and social security
229,014
160,328
Other creditors
80,240
229,257
740,825
781,458
Southerns Solicitors Limited
Notes to the financial statements (continued)
For the year ended 31 December 2025
- 9 -
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
2,466
12,680

Included within long term loans is a bank loan with National Westminster Bank PLC. The loan contains fixed and floating charges. The floating charge covers all the property or undertaking of the company. The total amount remaining on the loan as at 31 December 2025 was £11,340 (2024: £21,554)

8
Related party transactions

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due from related parties
£
£
Other related parties
285,549
193,964
9
Ultimate controlling party

By virtue of the shareholdings, the ultimate controlling party is Neil Cronin.

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