Annual Report & Accounts 2026
74
23. RECONCILIATION OF CHANGES IN CASH AND LIABILITIES ARISING FROM FINANCING ACTIVITIES
1 February 2026 £ Cash flow
£ Non-cash movement £ 31 January 2026 £ Cash and cash equivalents
9,687,172
56,912
–
9,744,084
Lease liabilities due within 1 year
(594,848)
490,878
(490,878)
(594,848)
Lease liabilities due after 1 year
(1,563,376)
–
490,878
(1,072,498)
Total net debt
7,528,948
547,790
–
8,076,738
1 February 2024 £ Cash flow
£ Non-cash movement £ 31 January 2026 £ Cash and cash equivalents
8,367,072
1,320,100
–
9,687,172
Lease liabilities due within 1 year
(344,804)
214,446
(464,490)
(594,848)
Lease liabilities due after 1 year
(2,027,866)
–
464,490
(1,563,376)
Total net debt
5,994,402
1,534,546
–
7,528,948
24. DIVIDENDS
During the year, the Company paid an interim ordinary dividend of 7.5p per share (2026: 6.2p). The Directors will propose a resolution at the coming AGM to pay a final ordinary dividend of 17.2p per share, being £5,450,330 (2026: final ordinary dividend of 14.0p, being £4,422,999 and a special dividend of 15.0p being £4,738,927). This will bring the total value of ordinary dividend paid and declared for the year to 24.7p, being £7,829,125 (2026: 20.2p, being £6,318,570).
The total cash value of dividends paid in the year was £11,576,800 (2026: £5,907,869).
25. RELATED-PARTY TRANSACTIONS
During the period, the Group received income of £195,170 (2026: £102,640) from Keypoint Law Pty Limited, an Australian law firm in which the Group holds a minority shareholding. In note 17, the Company shows amounts owed by related parties of £11,026,548 (2026: £12,598,826). This relates to amounts owed by the subsidiary Keystone Law Limited, as Keystone Law Group plc does not have a bank account and, as such, Keystone Law Limited acts as the treasury function for the Group. The balances are unsecured, interest free and repayable on demand.
NOTES TO THE FINANCIAL STATEMENTS CONTINUED
23. RECONCILIATION OF CHANGES IN CASH AND LIABILITIES ARISING FROM FINANCING ACTIVITIES
1 February 2026 £ Cash flow
£ Non-cash movement £ 31 January 2026 £ Cash and cash equivalents
9,687,172
56,912
–
9,744,084
Lease liabilities due within 1 year
(594,848)
490,878
(490,878)
(594,848)
Lease liabilities due after 1 year
(1,563,376)
–
490,878
(1,072,498)
Total net debt
7,528,948
547,790
–
8,076,738
1 February 2024 £ Cash flow
£ Non-cash movement £ 31 January 2026 £ Cash and cash equivalents
8,367,072
1,320,100
–
9,687,172
Lease liabilities due within 1 year
(344,804)
214,446
(464,490)
(594,848)
Lease liabilities due after 1 year
(2,027,866)
–
464,490
(1,563,376)
Total net debt
5,994,402
1,534,546
–
7,528,948
24. DIVIDENDS
During the year, the Company paid an interim ordinary dividend of 7.5p per share (2026: 6.2p). The Directors will propose a resolution at the coming AGM to pay a final ordinary dividend of 17.2p per share, being £5,450,330 (2026: final ordinary dividend of 14.0p, being £4,422,999 and a special dividend of 15.0p being £4,738,927). This will bring the total value of ordinary dividend paid and declared for the year to 24.7p, being £7,829,125 (2026: 20.2p, being £6,318,570).
The total cash value of dividends paid in the year was £11,576,800 (2026: £5,907,869).
25. RELATED-PARTY TRANSACTIONS
During the period, the Group received income of £195,170 (2026: £102,640) from Keypoint Law Pty Limited, an Australian law firm in which the Group holds a minority shareholding. In note 17, the Company shows amounts owed by related parties of £11,026,548 (2026: £12,598,826). This relates to amounts owed by the subsidiary Keystone Law Limited, as Keystone Law Group plc does not have a bank account and, as such, Keystone Law Limited acts as the treasury function for the Group. The balances are unsecured, interest free and repayable on demand.
NOTES TO THE FINANCIAL STATEMENTS CONTINUED