REGISTERED NUMBER: 05837427 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2025

FOR

ILAW SOLICITORS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J J Ellis

M C Culbert

L A Roberts

J O'Hara

REGISTERED OFFICE:

5 St Bride Street

London

EC4A 4AS

REGISTERED NUMBER:

05837427 (England and Wales)

ACCOUNTANTS:

Parkers

Cornelius House

178-180 Church Road

Hove

East Sussex

BN3 2DJ

FIXED ASSETS

Tangible assets

4

1,015

1,796

CURRENT ASSETS

Stocks

316,946

104,686

Debtors

5

839,815

1,211,299

Cash at bank and in hand

44,230

292,027

1,200,991

1,608,012

CREDITORS

Amounts falling due within one year

6

522,970

470,274

NET CURRENT ASSETS

678,021

1,137,738

TOTAL ASSETS LESS CURRENT LIABILITIES

679,036

1,139,534

CREDITORS

Amounts falling due after more than one year

7

-

5,000

NET ASSETS

679,036

1,134,534

CAPITAL AND RESERVES

Called up share capital

90

90

Capital redemption reserve

28

28

Retained earnings

678,918

1,134,416

SHAREHOLDERS' FUNDS

679,036

1,134,534

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10th September 2026 and were signed on its behalf by:

J J Ellis - Director

1.	STATUTORY INFORMATION

ILaw Solicitors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

No significant judgements have had to be made by the directors in preparing these financial statements.

Turnover

Turnover represents net invoiced sales of services, and is disclosed net of value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment

-

66% on cost

Fixtures and fittings

-

50% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Costs include all direct expenditure and an appropriate proportion of fixed and variable overheads.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2024 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Office

and

equipment

fittings

Totals

£

£

£

COST

At 1st December 2024

48,912

7,099

56,011

Additions

2,986

-

2,986

At 30th November 2025

51,898

7,099

58,997

DEPRECIATION

At 1st December 2024

47,116

7,099

54,215

Charge for year

3,767

-

3,767

At 30th November 2025

50,883

7,099

57,982

NET BOOK VALUE

At 30th November 2025

1,015

-

1,015

At 30th November 2024

1,796

-

1,796

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

710,256

653,214

Other debtors

129,559

558,085

839,815

1,211,299

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

5,000

10,000

Trade creditors

193,304

180,047

Taxation and social security

220,236

267,618

Other creditors

104,430

12,609

522,970

470,274

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

5,000

8.	OTHER FINANCIAL COMMITMENTS

The Company has agreed to make contributions to the iLaw Solicitors Employee Ownership Trust to enable the Trust to discharge Deferred Consideration due to the former shareholders of the Company under a share sale agreement dated 15th July 2025. As at the balance sheet date, the aggregate Deferred Consideration remaining unpaid (excluding interest) was £2,721,667 due in tranches as follows:

Due by Amount

15th July 2026 £355,000

15th July 2027 £473,333

15th July 2028 £473,333

15th July 2029 £473,333

15th July 2030 £473,333

15th July 2031 £473,333

Payment of each Tranche remains subject to the Company's contributions to the Trust, and to the Trust's available resources, and includes interest accruing in accordance with the terms of the share sale agreement.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30th November 2025 and 30th November 2024:

2025

2024

£

£

J J Ellis

Balance outstanding at start of year

235,720

44,380

Amounts advanced

-

191,340

Amounts repaid

(235,720

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

235,720

M C Culbert

Balance outstanding at start of year

191,233

136,471

Amounts advanced

377

54,762

Amounts repaid

(191,233

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

377

191,233

T Clark

Balance outstanding at start of year

-

114,177

Amounts repaid

-

(114,177

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

10.	RELATED PARTY DISCLOSURES

During the year, the Company made contributions totalling £818,333 to the iLaw Solicitors Employee Ownership Trust ("the Trust"), the Company's controlling shareholder, to enable the Trust to satisfy amounts due to the former shareholders of the Company under the terms of a share sale agreement dated 15th July 2025. Contributions in the year comprised the Initial Payment of £700,000 and Tranche payments totalling £118,333

Mr Mark Culbert and Mr Justin Ellis, directors of the Company, were parties to the share sale agreement referred to above as former shareholders of the Company.

No amounts were outstanding from, or owed by, the Company to the Trust at the balance sheet date. Transactions with the Trust are not conducted on normal market terms, reflecting the Company's role in funding the Trust's obligations to the former shareholders.