ACCOUNTS - Final Accounts preparation

Cash and cash equivalents

Registered number: NI602386

MKB Law Limited

Unaudited

Financial statements

Information for filing with the registrar

For the Period Ended 31 August 2025

MKB Law Limited

Registered number: NI602386

Balance Sheet

As at 31 August 2025

	31 August	30 June
	2025	2024
Note	£	£

Fixed assets
Tangible assets	6		240,568		267,266
			240,568		267,266
Current assets
Debtors: amounts falling due within one year	7	1,113,086		982,671
Cash at bank and in hand	8	89,046		225,474
		1,202,132		1,208,145
Creditors: amounts falling due within one year	9	(870,374)		(829,271)
Net current assets			331,758		378,874
Total assets less current liabilities			572,326		646,140
Creditors: amounts falling due after more than one year	10		-		(72,091)
Provisions for liabilities
Deferred tax	12	(50,776)		(70,397)
			(50,776)		(70,397)
Net assets			521,550		503,652

Capital and reserves
Called up share capital	13	110	110
Capital redemption reserve	14	10	10
Profit and loss account	14	521,430	503,532
		521,550	503,652

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MKB Law Limited

Registered number: NI602386

Balance Sheet (continued)

As at 31 August 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 July 2026.

Mr G McElroy	Mr D McAlinden
Director	Director

The notes on pages 3 to 11 form part of these financial statements.

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MKB Law Limited

Notes to the Financial Statements

For the Period Ended 31 August 2025

1.	General information

MKB Law Limited is a private company limited by shares incorporated in Northern Ireland within the United Kingdom. The registration number and address of the registered office are given in the company information section of these financial statements.

The presentation currency is Sterling. There is no rounding applied to the accounts.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liabilities Partnerships'. 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 following principal accounting policies have been applied:

2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

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MKB Law Limited

Notes to the Financial Statements

For the Period Ended 31 August 2025

2.Accounting policies (continued)

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

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MKB Law Limited

Notes to the Financial Statements

For the Period Ended 31 August 2025

2.Accounting policies (continued)

2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.9

Current and deferred taxation

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Goodwill

2 - 7 years

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MKB Law Limited

Notes to the Financial Statements

For the Period Ended 31 August 2025

2.Accounting policies (continued)

2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property	-	2%
Property improvements	-	5%
Fixtures and fittings	-	25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

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MKB Law Limited

Notes to the Financial Statements

For the Period Ended 31 August 2025

2.Accounting policies (continued)

2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

In the process of applying the company’s accounting policies, management has not made any significant judgments. There are no key assumptions concerning the future or other key sources of estimation, that have a significant risk of raising a material adjustment to the carrying amounts of assets and liabilities within the financial year.

Employees

The average monthly number of employees, including directors, during the period was 42 (2024 - 35).

5.	Intangible assets

		Goodwill
		£
	Cost
	At 1 July 2024	875,000
	At 31 August 2025	875,000
	Amortisation
	At 1 July 2024	875,000
	At 31 August 2025	875,000
	Net book value
	At 31 August 2025	-
	At 30 June 2024	-

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MKB Law Limited

Notes to the Financial Statements

For the Period Ended 31 August 2025

6.	Tangible fixed assets

	Property Improvement	Fixtures and fittings	Total
	£	£	£
Cost or valuation
At 1 July 2024	485,086	118,378	603,464
Additions	-	5,985	5,985
At 31 August 2025	485,086	124,363	609,449
Depreciation
At 1 July 2024	231,369	104,829	336,198
Charge for the period on owned assets	24,254	8,429	32,683
At 31 August 2025	255,623	113,258	368,881
Net book value
At 31 August 2025	229,463	11,105	240,568
At 30 June 2024	253,717	13,549	267,266

Debtors

					31 August	30 June
					2025	2024
					£	£


Trade debtors	411,129	478,152
Other debtors	91,403	22,073
Prepayments and accrued income	610,554	482,446
	1,113,086	982,671

Cash at bank and in hand	89,046	225,474
Less: bank overdrafts	(110)	-
	88,936	225,474

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MKB Law Limited

Notes to the Financial Statements

For the Period Ended 31 August 2025

Bank overdrafts	110	-
Bank loans	263,082	217,931
Trade creditors	83,109	123,285
Corporation tax	290,774	264,663
Other taxation and social security	128,985	143,112
Other creditors	92,956	67,154
Accruals and deferred income	11,358	13,126
	870,374	829,271

Secured liabilities

Bank loans are secured as follows:

i. Fixed and floating charge over all company assets.
ii. Legal mortgage/charge over 2nd and 3rd floors at 14-18 Great Victoria Street, Belfast.
iii. Letter of guarantee of £1,700,000 plus interest supported by Legal Mortgage/charge over 4 North Street, Newtownards.

Bank loans	-	72,091
	-	72,091

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MKB Law Limited

Notes to the Financial Statements

For the Period Ended 31 August 2025

Amounts falling due within one year
Bank loans	263,082	217,931
	263,082	217,931
Amounts falling due 1-2 years
Bank loans	-	38,523
	-	38,523
Amounts falling due 2-5 years
Bank loans	-	33,567
	-	33,567

	263,082	290,021

12.	Deferred taxation

		2025
		£

	At beginning of year	(70,397)
	Charged to profit or loss	19,621
	At end of year	(50,776)

	Accelerated capital allowances	(50,776)	(70,397)
		(50,776)	(70,397)

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MKB Law Limited

Notes to the Financial Statements

For the Period Ended 31 August 2025

Allotted, called up and fully paid

50 (2024 - 50) Ordinary A shares shares of £1.00 each	50	50
30 (2024 - 30) Ordinary B shares shares of £1.00 each	30	30
20 (2024 - 20) Ordinary C shares shares of £1.00 each	20	20
10 (2024 - 10) Ordinary D shares shares of £1.00 each	10	10

	110	110

14.

Reserves

Profit and loss account

This includes all current and prior period retained profits and losses.

15.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £29,815 (2024 £30,696). Contributions totalling £4,999 (2024 £4,405) were payable to the fund at the balance sheet date and are included in creditors.

16.	Client monies

The Company holds client monies in a separately designated bank account and maintains a corresponding client ledger of equal amount. Accordingly, these amounts have been offset and are not included in these financial statements. At 30 June 2025 the amount held on behalf of clients was £3,830,157 (2024 £5,829,012).

17.Commitments, Guarantees and Contingencies

The company has provided a cross-guarantee, secured on Company assets in relation to a loan made available to a company under the control of two company directors.

18.	Controlling party

The ultimate controlling party is that of the ultimate parent company, MKB 2025 Ltd, a company incorporated in the UK.

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