Company registration number 11773049 (England and Wales)
AUSTIN-SMITH:LORD LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
PAGES FOR FILING WITH REGISTRAR
AUSTIN-SMITH:LORD LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 10
AUSTIN-SMITH:LORD LIMITED
BALANCE SHEET
AS AT
31 MARCH 2026
31 March 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Intangible assets
3
105,000
135,000
Tangible assets
4
41,717
20,912
Investments
5
15,780
15,780
162,497
171,692
Current assets
Debtors
7
1,662,313
1,434,191
Cash at bank and in hand
150
150
1,662,463
1,434,341
Creditors: amounts falling due within one year
8
(1,766,779)
(1,692,191)
Net current liabilities
(104,316)
(257,850)
Total assets less current liabilities
58,181
(86,158)
Creditors: amounts falling due after more than one year
9
(109,689)
(78,125)
Provisions for liabilities
(3,259)
-
Net liabilities
(54,767)
(164,283)
Capital and reserves
Called up share capital
10
80
80
Capital redemption reserve
20
20
Profit and loss reserves
(54,867)
(164,383)
Total equity
(54,767)
(164,283)
AUSTIN-SMITH:LORD LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2026
31 March 2026
- 2 -

For the financial year ended 31 March 2026 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 profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 3 July 2026 and are signed on its behalf by:
Mr R Cronin
Director
Company registration number 11773049 (England and Wales)
AUSTIN-SMITH:LORD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 3 -
1
Accounting policies
Company information

Austin-Smith:Lord Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suite 22a, Port Of Liverpool Building, Pier Head, Liverpool, L3 1BY.

1.1
Basis of preparation

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
Going concern

Following our return to both operational and post-tax profit in last year’s accounts we have kept our turnover stable and significantly increased our profitability over the last 12 months despite a challenging climate.true

These challenges include slippage and movement in project programmes with slow client decision making .The fact we operate across multiple sectors and disciplines continues to help to buffer the stresses within individual sectors or markets. We have further reduced our cost base in the last 12 months and undertaken a full review of our outgoings including our PI cover which will now be placed in the commercial market following our withdrawal from the Wren prior to their decision to exit the insurance market.

Following a comprehensive business planning process, we have set a robust business plan for 2026/27 focussed around our Disciplines and maximising our presence in our 4 city offices, which will further increase business profit over the coming financial year.

Thus, the Executive Directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Revenue

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

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.

AUSTIN-SMITH:LORD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 4 -
1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

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:

Leasehold improvements
20% on cost
Fixtures and fittings
20% on cost
Computers
20% on cost

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
Fixed asset investments

Fixed asset investments are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.7
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.

AUSTIN-SMITH:LORD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 5 -

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.

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 balance sheet 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.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans 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.

AUSTIN-SMITH:LORD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 6 -
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 profit and loss account 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.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

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.

AUSTIN-SMITH:LORD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 7 -
1.14
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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:

2026
2025
Number
Number
Total
41
46
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2025 and 31 March 2026
300,000
Amortisation and impairment
At 1 April 2025
165,000
Amortisation charged for the year
30,000
At 31 March 2026
195,000
Carrying amount
At 31 March 2026
105,000
At 31 March 2025
135,000
AUSTIN-SMITH:LORD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 8 -
4
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 April 2025
54,450
5,129
98,527
158,106
Additions
-
0
-
0
31,591
31,591
At 31 March 2026
54,450
5,129
130,118
189,697
Depreciation and impairment
At 1 April 2025
50,650
2,043
84,501
137,194
Depreciation charged in the year
1,352
1,026
8,408
10,786
At 31 March 2026
52,002
3,069
92,909
147,980
Carrying amount
At 31 March 2026
2,448
2,060
37,209
41,717
At 31 March 2025
3,800
3,086
14,026
20,912
5
Fixed asset investments
2026
2025
£
£
Other investments other than loans
15,780
15,780
6
Financial instruments
2026
2025
£
£
Carrying amount of financial assets include:
Instruments measured at fair value through profit or loss
15,780
15,780
7
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
1,214,538
884,972
Corporation tax recoverable
53,537
99,973
Other debtors
394,238
381,185
1,662,313
1,366,130
AUSTIN-SMITH:LORD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
7
Debtors
(Continued)
- 9 -
2026
2025
Amounts falling due after more than one year:
£
£
Deferred tax asset
-
0
68,061
Total debtors
1,662,313
1,434,191
8
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans and overdrafts
191,127
100,582
Trade creditors
890,524
752,594
Taxation and social security
501,447
642,318
Other creditors
183,681
196,697
1,766,779
1,692,191

Bank borrowings are secured by a fixed and floating charge over the assets of the company. Bank loans and overdrafts include £50,000 in respect of a CBIL which is part-guaranteed by the government.

9
Creditors: amounts falling due after more than one year
2026
2025
£
£
Bank loans and overdrafts
-
0
50,000
Taxation and social security
109,689
-
0
Other creditors
-
0
28,125
109,689
78,125
10
Called up share capital
2026
2025
2026
2025
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
80
80
80
80
11
Operating lease commitments
As lessee
AUSTIN-SMITH:LORD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
11
Operating lease commitments
(Continued)
- 10 -

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2026
2025
£
£
Total commitments
275,107
249,699
12
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
-
-
3,181
-
3,181
-
11,253
-
(11,253)
-
-
-
156
-
156
-
-
3,382
-
3,382
11,253
6,719
(11,253)
6,719
2026-03-31 2025-04-01 false false false 03 July 2026 CCH Software CCH Accounts Production 2026.100 No description of principal activity Mr N L Chapman Mr R Cronin Mr M J Roe Mr G M Ross 11773049 2025-04-01 2026-03-31 11773049 2026-03-31 11773049 2025-03-31 11773049 core:NetGoodwill 2026-03-31 11773049 core:NetGoodwill 2025-03-31 11773049 core:LeaseholdImprovements 2026-03-31 11773049 core:FurnitureFittings 2026-03-31 11773049 core:ComputerEquipment 2026-03-31 11773049 core:LeaseholdImprovements 2025-03-31 11773049 core:FurnitureFittings 2025-03-31 11773049 core:ComputerEquipment 2025-03-31 11773049 core:CurrentFinancialInstruments core:WithinOneYear 2026-03-31 11773049 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 11773049 core:Non-currentFinancialInstruments core:AfterOneYear 2026-03-31 11773049 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 11773049 core:ShareCapital 2026-03-31 11773049 core:ShareCapital 2025-03-31 11773049 core:CapitalRedemptionReserve 2026-03-31 11773049 core:CapitalRedemptionReserve 2025-03-31 11773049 core:RetainedEarningsAccumulatedLosses 2026-03-31 11773049 core:RetainedEarningsAccumulatedLosses 2025-03-31 11773049 core:ShareCapitalOrdinaryShareClass1 2026-03-31 11773049 core:ShareCapitalOrdinaryShareClass1 2025-03-31 11773049 bus:Director2 2025-04-01 2026-03-31 11773049 core:Goodwill 2025-04-01 2026-03-31 11773049 core:LeaseholdImprovements 2025-04-01 2026-03-31 11773049 core:FurnitureFittings 2025-04-01 2026-03-31 11773049 core:ComputerEquipment 2025-04-01 2026-03-31 11773049 2024-04-01 2025-03-31 11773049 core:NetGoodwill 2025-03-31 11773049 core:NetGoodwill 2025-04-01 2026-03-31 11773049 core:LeaseholdImprovements 2025-03-31 11773049 core:FurnitureFittings 2025-03-31 11773049 core:ComputerEquipment 2025-03-31 11773049 2025-03-31 11773049 core:CurrentFinancialInstruments 2026-03-31 11773049 core:CurrentFinancialInstruments 2025-03-31 11773049 core:AfterOneYear 2026-03-31 11773049 core:AfterOneYear 2025-03-31 11773049 core:Non-currentFinancialInstruments 2026-03-31 11773049 core:Non-currentFinancialInstruments 2025-03-31 11773049 bus:OrdinaryShareClass1 2025-04-01 2026-03-31 11773049 bus:OrdinaryShareClass1 2026-03-31 11773049 bus:OrdinaryShareClass1 2025-03-31 11773049 bus:PrivateLimitedCompanyLtd 2025-04-01 2026-03-31 11773049 bus:SmallCompaniesRegimeForAccounts 2025-04-01 2026-03-31 11773049 bus:FRS102 2025-04-01 2026-03-31 11773049 bus:AuditExemptWithAccountantsReport 2025-04-01 2026-03-31 11773049 bus:Director1 2025-04-01 2026-03-31 11773049 bus:Director3 2025-04-01 2026-03-31 11773049 bus:Director4 2025-04-01 2026-03-31 11773049 bus:FullAccounts 2025-04-01 2026-03-31 xbrli:pure xbrli:shares iso4217:GBP