LawNet Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 7

LawNet Limited

Company Information

Directors

A J Mehlin R A Phillips D Rodgers A P Lee A J Willows A C Wright E F Armstrong S Stuttaford H Hamilton-Shaw

Company secretary

Velocity Company Secretarial Services Limited

Registered office

Centenary House Peninsula Park Rydon Lane Exeter Devon EX2 7XE

Auditors

PKF Francis Clark Statutory AuditorLowin House Tregolls Road Truro Cornwall TR1 2NA

LawNet Limited

Balance Sheet

31 May 2026

	Note	2026 £	2025 £
Fixed assets
Intangible assets	4	80,655	43,299
Tangible assets	5	3,810	6,297
		84,465	49,596
Current assets
Debtors	6	150,502	161,011
Cash at bank and in hand		627,852	573,707
		778,354	734,718
Creditors: Amounts falling due within one year	7	(158,200)	(139,993)
Net current assets		620,154	594,725
Total assets less current liabilities		704,619	644,321
Provisions for liabilities		(41,049)	(34,199)
Net assets		663,570	610,122
Reserves
Profit and loss account		663,570	610,122
Surplus		663,570	610,122

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 9 October 2026 and signed on its behalf by:
 

......................................... R A Phillips Director

Company Registration Number: 02538900

LawNet Limited

Notes to the Financial Statements

Year Ended 31 May 2026

1	General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £2,500 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Centenary House Peninsula Park
Rydon Lane
Exeter
Devon
EX2 7XE

These financial statements were authorised for issue by the Board on 9 October 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 incorporating Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors have considered a period of 12 months from approval of these accounts, including appropriate forecasts, and are satisfied that the going concern basis of preparation continues to be appropriate.

Revenue recognition

Income relates to subscriptions, training and conferences, publications and miscellaneous products and services which are recognised on an accruals basis.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

LawNet Limited

Notes to the Financial Statements

Year Ended 31 May 2026

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer equipment	25% Straight Line Basis
Fixtures and Fittings	15% Straight Line Basis

Intangible assets

Intangible assets are stated in the balance sheet at cost less accumulated amortisation and impairment. They will be amortised on a straight line basis over their estimated useful lives, once the asset has been brought into use.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Software development costs	20% Straight Line Basis

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

The company contributes into employees personal pension funds and the pension charge represents the amounts payable by the company to such funds in respect of the year.

LawNet Limited

Notes to the Financial Statements

Year Ended 31 May 2026

Financial instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the asset expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

The company holds the following financial instruments, all of which meet the conditions to be classified as basic instruments:

Short term debtors and creditors

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment judgements.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
 


 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2025 - 9).

LawNet Limited

Notes to the Financial Statements

Year Ended 31 May 2026

4	Intangible assets

	Software development costs £	Total £
Cost or valuation
At 1 June 2025	43,299	43,299
Additions	47,436	47,436
At 31 May 2026	90,735	90,735
Amortisation
Amortisation charge	10,080	10,080
At 31 May 2026	10,080	10,080
Carrying amount
At 31 May 2026	80,655	80,655
At 31 May 2025	43,299	43,299

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 June 2025	45,736	45,736
Disposals	(588)	(588)
At 31 May 2026	45,148	45,148
Depreciation
At 1 June 2025	39,439	39,439
Charge for the year	1,961	1,961
Eliminated on disposal	(62)	(62)
At 31 May 2026	41,338	41,338
Carrying amount
At 31 May 2026	3,810	3,810
At 31 May 2025	6,297	6,297

LawNet Limited

Notes to the Financial Statements

Year Ended 31 May 2026

6

Debtors

	2026 £	2025 £
Trade debtors	8,022	9,806
Prepayments	89,657	93,627
Other debtors	52,823	57,578
	150,502	161,011

7

Creditors

	2026  £	2025  £
Due within one year
Trade creditors	63,214	62,281
Corporation tax	3,021	-
Social security and other taxes	27,359	21,781
Accruals and deferred income	64,606	55,931
	158,200	139,993