IRIS Accounts Production v24.1.0.578 11583768 Board of Directors Board of Directors 1.2.23 29.2.24 29.2.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh115837682023-01-31115837682024-02-29115837682023-02-012024-02-29115837682022-09-30115837682022-10-012023-01-31115837682023-01-3111583768ns15:EnglandWales2023-02-012024-02-2911583768ns14:PoundSterling2023-02-012024-02-2911583768ns10:Director12023-02-012024-02-2911583768ns10:Director22023-02-012024-02-2911583768ns10:PrivateLimitedCompanyLtd2023-02-012024-02-2911583768ns10:SmallEntities2023-02-012024-02-2911583768ns10:AuditExempt-NoAccountantsReport2023-02-012024-02-2911583768ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-02-2911583768ns10:SmallCompaniesRegimeForAccounts2023-02-012024-02-2911583768ns10:FullAccounts2023-02-012024-02-291158376812023-02-012024-02-2911583768ns10:RegisteredOffice2023-02-012024-02-2911583768ns5:CurrentFinancialInstruments2024-02-2911583768ns5:CurrentFinancialInstruments2023-01-3111583768ns5:ShareCapital2024-02-2911583768ns5:ShareCapital2023-01-3111583768ns5:RetainedEarningsAccumulatedLosses2024-02-2911583768ns5:RetainedEarningsAccumulatedLosses2023-01-3111583768ns5:IntangibleAssetsOtherThanGoodwill2023-02-012024-02-2911583768ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-02-012024-02-2911583768ns5:PlantMachinery2023-02-012024-02-2911583768ns5:ComputerEquipment2023-02-012024-02-2911583768ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-01-3111583768ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-02-2911583768ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-01-3111583768ns5:PlantMachinery2024-02-2911583768ns5:ListedExchangeTradedns5:AdditionsToInvestments2024-02-2911583768ns5:DisposalsRepaymentsInvestmentsns5:ListedExchangeTraded2024-02-2911583768ns5:ListedExchangeTradedns5:RevaluationsIncreaseDecreaseInInvestments2024-02-2911583768ns5:ListedExchangeTradedns5:CostValuation2024-02-2911583768ns5:ListedExchangeTraded2024-02-2911583768ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-02-2911583768ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3111583768ns5:WithinOneYear2024-02-2911583768ns5:WithinOneYear2023-01-3111583768ns5:BetweenOneFiveYears2024-02-2911583768ns5:BetweenOneFiveYears2023-01-3111583768ns5:AllPeriods2024-02-2911583768ns5:AllPeriods2023-01-31
REGISTERED NUMBER: 11583768 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 FEBRUARY 2023 TO 29 FEBRUARY 2024

FOR

PATWORLD LIMITED

PATWORLD LIMITED (REGISTERED NUMBER: 11583768)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 FEBRUARY 2023 TO 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PATWORLD LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 FEBRUARY 2023 TO 29 FEBRUARY 2024







DIRECTORS: Mr T E Parry
Mr D A Parry





REGISTERED OFFICE: 6 Cedar Court
Hazell Drive
Newport
Gwent
NP10 8FY





REGISTERED NUMBER: 11583768 (England and Wales)





ACCOUNTANTS: Sullivans Chartered Accountants
13-14 Gelliwastad Road
Pontypridd
Rhondda Cynon Taf
CF37 2BW

PATWORLD LIMITED (REGISTERED NUMBER: 11583768)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

29/2/24 31/1/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 35,985 12,000
Property, plant and equipment 5 7,071 -
Investments 6 94,992 -
138,048 12,000

CURRENT ASSETS
Debtors 7 389,937 2,579
Cash at bank and in hand 30,111 760
420,048 3,339
CREDITORS
Amounts falling due within one year 8 373,253 20,122
NET CURRENT ASSETS/(LIABILITIES) 46,795 (16,783 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

184,843

(4,783

)

PROVISIONS FOR LIABILITIES 8,339 -
NET ASSETS/(LIABILITIES) 176,504 (4,783 )

CAPITAL AND RESERVES
Called up share capital 10 300 300
Retained earnings 176,204 (5,083 )
176,504 (4,783 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 February 2024 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.

PATWORLD LIMITED (REGISTERED NUMBER: 11583768)

STATEMENT OF FINANCIAL POSITION - continued
29 FEBRUARY 2024


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 7 August 2024 and were signed on its behalf by:




Mr T E Parry - Director



Mr D A Parry - Director


PATWORLD LIMITED (REGISTERED NUMBER: 11583768)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 FEBRUARY 2023 TO 29 FEBRUARY 2024

1. STATUTORY INFORMATION

PatWorld 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sale of services, excluding value added tax, in connection with a variety of patent search services, whereby the company has completed the engagement and has the right to consideration.

Turnover also includes amounts recoverable on contract in accordance with revenue recognition and completeness of the contract at the year end.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Computer equipment - 33% on cost

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 31 (2023 - NIL ) .

PATWORLD LIMITED (REGISTERED NUMBER: 11583768)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2023 TO 29 FEBRUARY 2024

4. INTANGIBLE FIXED ASSETS
Developmen
costs
£   
COST
At 1 February 2023 12,000
Additions 26,431
At 29 February 2024 38,431
AMORTISATION
Amortisation for period 2,446
At 29 February 2024 2,446
NET BOOK VALUE
At 29 February 2024 35,985
At 31 January 2023 12,000

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
Additions 8,378
At 29 February 2024 8,378
DEPRECIATION
Charge for period 1,307
At 29 February 2024 1,307
NET BOOK VALUE
At 29 February 2024 7,071

6. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
Additions 98,932
Disposals (20,111 )
Revaluations 16,171
At 29 February 2024 94,992
NET BOOK VALUE
At 29 February 2024 94,992

PATWORLD LIMITED (REGISTERED NUMBER: 11583768)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 FEBRUARY 2023 TO 29 FEBRUARY 2024

6. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 29 February 2024 is represented by:

Listed
investments
£   
Valuation in 2023 94,992

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 31/1/23
£    £   
Trade debtors 382,032 -
Other debtors 7,905 2,579
389,937 2,579

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 31/1/23
£    £   
Trade creditors 45,363 -
Amounts owed to associates 5,700 4,872
Taxation and social security 236,649 -
Other creditors 85,541 15,250
373,253 20,122

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
29/2/24 31/1/23
£    £   
Within one year 6,546 -
Between one and five years 19,602 -
26,148 -

Operating lease commitments relate mainly to equipment.

10. CALLED UP SHARE CAPITAL

Allotted, issues and fully paid:

Number: Class: Nominal 29/02/2024 31/01/2023
Value: £ £

400 Ordinary 50p 200 200
50 Ordinary A 50p 25 25
50 Ordinary B 50p 25 25
50 Ordinary C 50p 25 25
50 Ordinary D 50p 25 25

300 300