Silverfin false false 31/03/2025 01/04/2024 31/03/2025 Rhodri Giles Davey 05/07/2023 Clare Elizabeth Hudson 01/06/2022 Dominic Robert Smith 02/08/2017 03 September 2025 The principal activity of the Company during the financial year continued to be that of solicitors. 07188461 2025-03-31 07188461 bus:Director1 2025-03-31 07188461 bus:Director2 2025-03-31 07188461 bus:Director3 2025-03-31 07188461 2024-03-31 07188461 core:CurrentFinancialInstruments 2025-03-31 07188461 core:CurrentFinancialInstruments 2024-03-31 07188461 core:ShareCapital 2025-03-31 07188461 core:ShareCapital 2024-03-31 07188461 core:RetainedEarningsAccumulatedLosses 2025-03-31 07188461 core:RetainedEarningsAccumulatedLosses 2024-03-31 07188461 core:Goodwill 2024-03-31 07188461 core:Goodwill 2025-03-31 07188461 core:LeaseholdImprovements 2024-03-31 07188461 core:OfficeEquipment 2024-03-31 07188461 core:ComputerEquipment 2024-03-31 07188461 core:LeaseholdImprovements 2025-03-31 07188461 core:OfficeEquipment 2025-03-31 07188461 core:ComputerEquipment 2025-03-31 07188461 core:ImmediateParent core:CurrentFinancialInstruments 2025-03-31 07188461 core:ImmediateParent core:CurrentFinancialInstruments 2024-03-31 07188461 2023-03-31 07188461 bus:OrdinaryShareClass1 2025-03-31 07188461 2024-04-01 2025-03-31 07188461 bus:FilletedAccounts 2024-04-01 2025-03-31 07188461 bus:SmallEntities 2024-04-01 2025-03-31 07188461 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 07188461 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 07188461 bus:Director1 2024-04-01 2025-03-31 07188461 bus:Director2 2024-04-01 2025-03-31 07188461 bus:Director3 2024-04-01 2025-03-31 07188461 core:Goodwill core:TopRangeValue 2024-04-01 2025-03-31 07188461 core:Goodwill 2024-04-01 2025-03-31 07188461 core:LeaseholdImprovements core:TopRangeValue 2024-04-01 2025-03-31 07188461 core:OfficeEquipment 2024-04-01 2025-03-31 07188461 core:ComputerEquipment core:TopRangeValue 2024-04-01 2025-03-31 07188461 2023-04-01 2024-03-31 07188461 core:LeaseholdImprovements 2024-04-01 2025-03-31 07188461 core:ComputerEquipment 2024-04-01 2025-03-31 07188461 core:CurrentFinancialInstruments 2024-04-01 2025-03-31 07188461 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 07188461 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07188461 (England and Wales)

# PATTERSON LAW LIMITED

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

PATTERSON LAW LIMITED

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

PATTERSON LAW LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 31 March 2025
PATTERSON LAW LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 4 | 54,257 |  | 63,577
|  | 54,257 |  | 63,577
Current assets |  |  |  |
Debtors | 5 | 272,168 |  | 346,833
Cash at bank and in hand |  | 473,125 |  | 591,177
|  | 745,293 |  | 938,010
Creditors: amounts falling due within one year | 6 | ( 634,429) |  | ( 678,682)
Net current assets |  | 110,864 |  | 259,328
Total assets less current liabilities |  | 165,121 |  | 322,905
Provision for liabilities | 7 | ( 9,152) |  | ( 11,395)
Net assets |  | 155,969 |  | 311,510
Capital and reserves |  |  |  |
Called-up share capital | 8 | 1 |  | 1
Profit and loss account |  | 155,968 |  | 311,509
Total shareholder's funds |  | 155,969 |  | 311,510

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year 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 Patterson Law Limited (registered number: 07188461) were approved and authorised for issue by the Board of Directors on 03 September 2025. They were signed on its behalf by:

Dominic Robert Smith Director |

PATTERSON LAW LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
PATTERSON LAW LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 1. Accounting policies

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

##### General information and basis of accounting

Patterson Law 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 Patterson Law, Wharf Road, Newton Abbot, TQ12 2DA, 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 financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

##### 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 Statement of Financial Position 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill | 10 years straight line

###### Goodwill

##### Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties 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:
[Input type of fixed asset and rate of depreciation]

Leasehold improvements | 15 years straight line
Office equipment | 25 % reducing balance
Computer equipment | 4 years straight line

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.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### 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.

##### 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 Statement of Financial Position 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.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 36 |  | 38

#### 3. Intangible assets

| Goodwill |  | Total
| £ |  | £
Cost |  |  |
At 01 April 2024 | 350,000 |  | 350,000
Disposals | ( 350,000) |  | ( 350,000)
At 31 March 2025 | 0 |  | 0
Accumulated amortisation |  |  |
At 01 April 2024 | 350,000 |  | 350,000
Disposals | ( 350,000) |  | ( 350,000)
At 31 March 2025 | 0 |  | 0
Net book value |  |  |
At 31 March 2025 | 0 |  | 0
At 31 March 2024 | 0 |  | 0

#### 4. Tangible assets

| Leasehold improve- ments |  | Office equipment |  | Computer equipment |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 April 2024 | 39,819 |  | 54,574 |  | 10,554 |  | 104,947
Additions | 0 |  | 441 |  | 0 |  | 441
At 31 March 2025 | 39,819 |  | 55,015 |  | 10,554 |  | 105,388
Accumulated depreciation |  |  |  |  |  |  |
At 01 April 2024 | 1,593 |  | 37,074 |  | 2,703 |  | 41,370
Charge for the financial year | 2,655 |  | 4,467 |  | 2,639 |  | 9,761
At 31 March 2025 | 4,248 |  | 41,541 |  | 5,342 |  | 51,131
Net book value |  |  |  |  |  |  |
At 31 March 2025 | 35,571 |  | 13,474 |  | 5,212 |  | 54,257
At 31 March 2024 | 38,226 |  | 17,500 |  | 7,851 |  | 63,577

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 50,031 |  | 125,212
Amounts owed by Parent undertakings | 194,338 |  | 193,684
Prepayments | 23,132 |  | 23,270
Other debtors | 4,667 |  | 4,667
| 272,168 |  | 346,833

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 21,239 |  | 16,656
Accruals and deferred income | 358,383 |  | 420,840
Corporation tax | 83,712 |  | 100,640
Other taxation and social security | 166,436 |  | 135,534
Other creditors | 4,659 |  | 5,012
| 634,429 |  | 678,682

There are no amounts included above in respect of which any security has been given by the small entity.

#### 7. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 11,395) |  | ( 6,822)
Credited/(charged) to the Statement of Income and Retained Earnings | 2,243 |  | ( 4,573)
At the end of financial year | ( 9,152) |  | ( 11,395)

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
1 Ordinary share of £ 1.00 | 1 |  | 1

#### 9. Financial commitments

Commitments

| 2025 |  | 2024
| £ |  | £
Total future minimum lease payments under non-cancellable operating lease | 390,000 |  | 420,000

#### 10. Related party transactions

As the company is the a wholly owned subsidiary, the company has taken advantage of the exemption contained in s. 1AC.35 of FRS102, and not disclosed transactions or balances with wholly owned subsidiaries which form part of the group.