Company No: 07731558 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.03.2026		31.12.2024
		£		£
				Restated - note 2
Fixed assets
Tangible assets	4	0		108,416
		0		108,416
Current assets
Stocks		0		3,000
Debtors	5	2,117,429		2,271,427
Investments	6	400,000		0
Cash at bank and in hand		264,847		973,494
		2,782,276		3,247,921
Creditors: amounts falling due within one year	7	( 78,633)		( 746,721)
Net current assets		2,703,643		2,501,200
Total assets less current liabilities		2,703,643		2,609,616
Creditors: amounts falling due after more than one year	8	0		( 20,674)
Provision for liabilities		( 41,101)		( 34,793)
Net assets		2,662,542		2,554,149
Capital and reserves
Called-up share capital	9	100		100
Profit and loss account		2,662,442		2,554,049
Total shareholders' funds		2,662,542		2,554,149

For the financial period ending 31 March 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial period 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Moore & Tibbits Limited (registered number: 07731558) were approved and authorised for issue by the Board of Directors on 14 September 2026. They were signed on its behalf by:

D L Anderson Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Moore & Tibbits Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 3rd Floor, Westgate House, Market Street, Warwick, CV34 4DH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The Limited Company was trading as a law firm in the prior period. On the 2nd January 2025, the trade and net assets (other than intellectual property) of Moore & Tibbits Limited were purchased by M&T Legal Services LLP, signifying the cessation of the provision of legal services by the Limited Company. The consideration for the net assets and business transferred was a combination of capital investment in the LLP and short term funding via a current account. Going forwards, the main income stream for the company is the licence income and interest payable from the investment in the LLP.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

The accounting period has been extended by three months to 31 March 2026 to align with the tax year and the associated LLP accounting period end. The prior period was also a fifteen month period, therefore the amounts presented in the profit and loss are directly comparable with the prior year figures.

Prior period adjustment

A prior period adjustment has been applied to the 2024 balance sheet to more appropriately categorise a liability of uncertain timing and amount previously stated within creditors. On review of this balance, it is more appropriately defined as a provision reported on the balance sheet opposed to creditors and has therefore been reclassified accordingly.

The profit for the year has not been affected as a result of this balance sheet reclassification. The impact of adjusting for the provision is a decrease in creditors and an increase in provisions.

Turnover

Turnover represents the licence income from the LLP for the period. The 2024 comparatives represent the value of services rendered during the year (excluding VAT) and comprises both completed work (gross fees billed) and incomplete unbilled work (accrued income).

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Fixtures and fittings	10 - 15 % reducing balance
Office equipment	15 % reducing balance
Computer equipment	5 years straight line
Other property, plant and equipment	not depreciated

Other property, plant and equipment relates to pictures, no depreciation is provided on pictures as the Directors consider the difference between the cost and residual value of these assets to be immaterial.

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Prior period adjustment

		As previously reported		Adjustment		As restated
Period ended 31 December 2024		£		£		£
Other Creditors		105,528		(24,793)		80,735
Provisions		10,000		24,793		34,793

3. Employees

	Period from 01.01.2025 to 31.03.2026		Period from 01.10.2023 to 31.12.2024
	Number		Number
Monthly average number of persons employed by the Company during the period, including directors	2		67

4. Tangible assets

	Fixtures and fittings		Office equipment		Computer equipment		Other property, plant and equipment		Total
	£		£		£		£		£
Cost
At 01 January 2025	12,204		95,804		326,917		16,742		451,667
Disposals	( 12,204)		( 95,804)		( 326,917)		( 16,742)		( 451,667)
At 31 March 2026	0		0		0		0		0
Accumulated depreciation
At 01 January 2025	8,041		71,124		264,086		0		343,251
Disposals	( 8,041)		( 71,124)		( 264,086)		0		( 343,251)
At 31 March 2026	0		0		0		0		0
Net book value
At 31 March 2026	0		0		0		0		0
At 31 December 2024	4,163		24,680		62,831		16,742		108,416

5. Debtors

	31.03.2026		31.12.2024
	£		£
Trade debtors	0		426,508
Amounts owed by directors	614		241,676
Prepayments and accrued income	0		1,552,523
Other debtors	2,116,815		50,720
	2,117,429		2,271,427

6. Current asset investments

	31.03.2026		31.12.2024
	£		£
Other investments	400,000		0

7. Creditors: amounts falling due within one year

	31.03.2026		31.12.2024
	£		£
Bank loans (secured)	0		43,720
Trade creditors	0		22,766
Amounts owed to directors	14,476		0
Accruals	4,150		36,195
Taxation and social security	60,007		563,305
Other creditors	0		80,735
	78,633		746,721

The bank loans are secured by an unlimited debenture dated 27 September 2011 incorporating a fixed and floating charge on the company's assets.

8. Creditors: amounts falling due after more than one year

	31.03.2026		31.12.2024
	£		£
Bank loans (secured)	0		20,674

The bank loans are secured by an unlimited debenture dated 27 September 2011 incorporating a fixed and floating charge on the company's assets.

9. Called-up share capital

	31.03.2026		31.12.2024
	£		£
Allotted, called-up and fully-paid
51 Ordinary A shares of £ 1.00 each	51		51
49 Ordinary B shares of £ 1.00 each	49		49
	100		100

Ordinary A shares have voting rights and entitle the holder to rights to capital and dividends.

Ordinary B shares have voting rights and entitle the holder to rights to capital and dividends.

10. Financial commitments

Other financial commitments

The total amount of financial commitments not included in the balance sheet is £nil (2024 - £31,403)

11. Related party transactions

Transactions with entities in which the entity itself has a participating interest

	31.03.2026		31.12.2024
	£		£
M&T Legal Services LLP	2,047,665		0

The Limited Company was trading in the prior period. On the 2nd January 2025, the trade and net assets (other than intellectual property) of Moore & Tibbits Limited were purchased by M&T Legal Services LLP, signifying the cessation of trade of the Limited Company. The consideration for the net assets and business transferred was a combination of capital investment in the LLP and short term funding via a current account.

Transactions with the entity's directors

	31.03.2026		31.12.2024
	£		£
Director 1	(14,628)		108,733
Director 2	614		130,943
Director 3	0		2,000

During the period, storage costs of £nil (2024: £13,750) were paid to a director and shareholder.

As at the year end, the balance due to the directors was £14,015 (2024: £(241,676)). The maximum overdrawn account in the period being £130,943. The Directors Loan Accounts are repayable upon demand.

Directors Loan Account interest is charged at HMRC's official rate of 2.25% until March 2025 and at 3.75% from April 2025 onwards.