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REGISTERED NUMBER: 09919910 (England and Wales)

| CHATTERTONS LEGAL SERVICES LIMITED |

| STRATEGIC REPORT, |

| REPORT OF THE DIRECTORS AND |

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 30 APRIL 2025 |

CHATTERTONS LEGAL SERVICES LIMITED (REGISTERED NUMBER: 09919910)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

| Page |

Company Information | 1 |

Strategic Report | 2 |  | to |  | 3

Report of the Directors | 4 |

Report of the Independent Auditors | 5 |  | to |  | 7

Income Statement | 8 |

Other Comprehensive Income | 9 |

Statement of Financial Position | 10 |

Statement of Changes in Equity | 11 |

Statement of Cash Flows | 12 |

Notes to the Statement of Cash Flows | 13 |

Notes to the Financial Statements | 14 |  | to |  | 23

CHATTERTONS LEGAL SERVICES LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 30 APRIL 2025

| DIRECTORS: | E F Conway

| R R Ludlow

| REGISTERED OFFICE: | 5 South Street

| Horncastle

| Lincolnshire

| LN9 6DS

| REGISTERED NUMBER: | 09919910 (England and Wales)

| SENIOR STATUTORY AUDITOR: | Tara Bellamy FCA

| AUDITORS: | Duncan & Toplis Audit Limited, Statutory Auditor

| 4 Henley Way

| Doddington Road

| Lincoln

| Lincolnshire

| LN6 3QR

CHATTERTONS LEGAL SERVICES LIMITED (REGISTERED NUMBER: 09919910)

STRATEGIC REPORT

FOR THE YEAR ENDED 30 APRIL 2025

The directors present their strategic report for the year ended 30 April 2025.

REVIEW OF BUSINESS

The principal activity of the company for the year ended 30 April 2025 is the provision of legal services from 8 main offices across the East Midlands, with 2 additional serviced offices in the East Midlands and London.

Established in 1856, Chattertons is considered to be one of oldest law firms in the UK, and since 2016 has operated under an ABS licence.

The results for the year and financial position of the company are shown in the annexed financial statements. The company considers its key performance indicators include turnover, gross profit, trading profit* and net assets.

| 2025 |  | 2024 |  |

| £ |  | £ |  |

Turnover |  |  | 14,104,592 |  | 13,631,583 |  |

Cost of sales |  |  | 6,364,493 |  | 5,690,696 |  |

Gross profit |  |  | 7,740,099 |  | 7,940,887 |  |

Gross profit margin % |  |  | 54.88 |  | 58.25 |  |

Trading profit |  |  | 3,904,530 |  | 4,386,904 |  |

Trading profit margin % |  |  | 27.68 |  | 32,18 |  |

Net assets |  | 11,219,432 |  | 10,781,119 |  |

Earnings before interest, tax, depreciation and amortisation |  | 4,267,881 |  | 4,558,840 |  |

*Trading profit and EBITDA includes profit from operating activities and net interest received.

Chattertons continues to pursue its growth strategy to become a significant provider of professional services in the East Midlands and beyond, through a combination of organic growth, the recruitment of additional of high-calibre professionals and exploring further acquisition opportunities. The directors completed two acquisitions namely JGQC Solicitors on 31st March 2025 and Page Nelson Limited on 1st April 2025 to further strengthen their Lincoln office. The directors continue to focus on balancing growth with prudent cost management and maintaining a strong cash position.

Chattertons Group Holdings Limited became the controlling party of Chattertons Group Limited on 29 May 2025. Richard Ludlow became the ultimate controlling party as of this date.

CHATTERTONS LEGAL SERVICES LIMITED (REGISTERED NUMBER: 09919910)

STRATEGIC REPORT

FOR THE YEAR ENDED 30 APRIL 2025

PRINCIPAL RISKS AND UNCERTAINTIES

The Directors are aware of their responsibilities for managing risk and regularly evaluate the risks and uncertainties that could impact on future performance.

The economy plays a part in the company's ability to operate profitability. Exposure to negative economic developments in sectors in which the company operates, either directly or indirectly through the impact on the company's bankers, suppliers or customers may result in decreased demand, increased operating costs or an inability for the business to meet its full strategic objectives.

The company operates in a competitive market, failure to compete effectively in terms of quality and price can have an adverse effect on demand and/or margins.

In addition to the uncertainties noted above, other principal risks actively managed by the company include the risks associated with potential threats to Group and customer data from malicious cyber-attack or hacking.

The company mitigates these risks by:

- A defined organisational structure with clear lines of responsibility underpinned by a corporate governance framework and a scheme of delegated authority.

- Management and staff across the organisation work closely with customers to operate as effectively as possible, whilst fostering long-term working relationships, innovative working, and good lines of communication.

- Operating a recruitment and selection process to ensure that employees are experienced and competent in their work. There is an established programme of training and development to ensure that colleagues are alert to, and responsive to customer needs whilst operating in line with the Group's corporate objectives.

- A commitment to ensuring compliance with data protection legislation and best-practice cyber security through investment and continuous improvement in these areas.

FUTURE DEVELOPMENTS

The company remains consistently profitable and there are no planned changes to the principal activities of the company in the next financial year.

ON BEHALF OF THE BOARD:

R R Ludlow - Director

13 January 2026

CHATTERTONS LEGAL SERVICES LIMITED (REGISTERED NUMBER: 09919910)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 30 APRIL 2025

The directors present their report with the financial statements of the company for the year ended 30 April 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of legal services.

DIVIDENDS

An interim dividend of £2,500,000 per share was declared on 31 October 2024.

The total distribution of dividends for the year ended 30 April 2025 was £2,500,000 which was paid to the parent company Chattertons Group Limited.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 May 2024 to the date of this report.

E F Conway

R R Ludlow

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

R R Ludlow - Director

13 January 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CHATTERTONS LEGAL SERVICES LIMITED

Opinion

We have audited the financial statements of Chattertons Legal Services Limited (the 'company') for the year ended 30 April 2025 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 30 April 2025 and of its profit for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- | the financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of directors' remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CHATTERTONS LEGAL SERVICES LIMITED

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We have identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial experience, knowledge of the sector, a review of regulatory and legal correspondence and through discussions with Directors and other management obtained as part of the work required by auditing standards. We have also discussed with the Directors and other management the policies and procedures relating to compliance with laws and regulations. We communicated laws and regulations throughout the team and remained alert to any indications of non-compliance throughout the audit.

The potential impact of different laws and regulations varies considerably. Firstly, the company is subject to laws and regulations that directly impact the financial statements (for example financial reporting legislation) and we have assessed the extent of compliance with such laws as part of our financial statements audit. We evaluated management incentives and opportunities for fraudulent manipulation of the financial statements, (including risk of override of controls) and determined that the principal risks were related to management bias in accounting estimate and judgemental areas of the financial statements such as depreciation of tangible fixed asset and calculations around amounts recoverable on contracts, as well as the risk of inappropriate journal entries to increase reported profitability. Audit procedures performed by the engagement team included the identification and testing of material and unusual journal entries and challenging management on key accounting estimates, assumptions and judgements made in preparation of the financial statements. We carried out detailed substantive tests on accounting estimates, including reviewing the methods used by management to make those estimates, re-performing the calculation, and reviewing the outcome of prior year estimates.

Secondly, the company is subject to other laws and regulations where the consequence for non-compliance could have a material effect on the amounts or disclosures in the financial statements. We identified compliance with the Solicitor Regulation Authority regulations as most likely to have such an effect.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Directors and other management and inspection As required by the Solicitors Regulation Authority, the company is also subject to an annual solicitor accounts rule audit which is independent to the statutory audit. Through these procedures, if we became aware of any non-compliance, we considered the impact on the procedures performed on the related financial statement items.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. As with any audit, there is a greater risk of non-detection of irregularities as these may involve collusion, intentional omissions of the override of internal controls.

We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CHATTERTONS LEGAL SERVICES LIMITED

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Tara Bellamy FCA (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

14 January 2026

CHATTERTONS LEGAL SERVICES LIMITED (REGISTERED NUMBER: 09919910)

INCOME STATEMENT

FOR THE YEAR ENDED 30 APRIL 2025

| 2025 | 2024 |

| as restated |

| Notes | £ | £ | £ | £ |

TURNOVER | 3 | 14,104,592 |  | 13,631,583 |  |

Cost of sales | 6,364,493 |  | 5,690,696 |  |

GROSS PROFIT | 7,740,099 |  | 7,940,887 |  |

Administrative expenses | 6,277,363 |  | 5,972,517 |  |

1,462,736 |  | 1,968,370 |  |

Other operating income | 21,714 |  | 25,958 |  |

OPERATING PROFIT | 5 | 1,484,450 |  | 1,994,328 |  |

Exceptional items | 6 | 105,249 |  | - |  |

1,379,201 |  | 1,994,328 |  |

Interest receivable and similar income | 7 | 4,051,790 |  | 3,546,507 |  |

5,430,991 |  | 5,540,835 |  |

Amounts written off investments | 8 | - |  | 999 |  |

5,430,991 |  | 5,539,836 |  |

Interest payable and similar expenses | 9 | 1,526,461 |  | 1,152,932 |  |

PROFIT BEFORE TAXATION | 3,904,530 |  | 4,386,904 |  |

Tax on profit | 10 | 966,217 |  | 1,131,653 |  |

PROFIT FOR THE FINANCIAL YEAR | 2,938,313 |  | 3,255,251 |  |

CHATTERTONS LEGAL SERVICES LIMITED (REGISTERED NUMBER: 09919910)

OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 30 APRIL 2025

| 2025 |  | 2024

| as restated |

| Notes | £ | £ |

PROFIT FOR THE YEAR | 2,938,313 |  | 3,255,251 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 2,938,313 |  | 3,255,251 |  |

| Note

Prior year adjustment | 12 | (566,628 | ) |

TOTAL COMPREHENSIVE INCOME SINCE LAST ANNUAL REPORT | 2,371,685 |  |

CHATTERTONS LEGAL SERVICES LIMITED (REGISTERED NUMBER: 09919910)

STATEMENT OF FINANCIAL POSITION

30 APRIL 2025

| 2025 |  | 2024 |  | 2023

| as restated |

| Notes | £ | £ | £ |

FIXED ASSETS

Intangible assets | 13 | 790,001 |  | 238,866 |  | 285,856 |  |

Tangible assets | 14 | 366,402 |  | 386,346 |  | 380,401 |  |

Investments | 15 | 261,832 |  | - |  | - |  |

1,418,235 |  | 625,212 |  | 666,257 |  |

CURRENT ASSETS

Debtors | 16 | 8,359,257 |  | 7,699,003 |  | 7,189,910 |  |

Investments | - |  | - |  | 999 |  |

Cash at bank and in hand | 6,486,287 |  | 7,107,473 |  | 5,576,094 |  |

14,845,544 |  | 14,806,476 |  | 12,767,003 |  |

CREDITORS

Amounts falling due within one year | 17 | (4,965,615 | ) | (4,556,904 | ) | (3,802,345 | ) |

NET CURRENT ASSETS | 9,879,929 |  | 10,249,572 |  | 8,964,658 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 11,298,164 |  | 10,874,784 |  | 9,630,915 |  |

PROVISIONS FOR LIABILITIES | 19 | (78,732 | ) | (93,665 | ) | (91,206 | ) |

NET ASSETS | 11,219,432 |  | 10,781,119 |  | 9,539,709 |  |

CAPITAL AND RESERVES

Called up share capital | 20 | 1 |  | 1 |  | 1 |  |

Retained earnings | 21 | 11,219,431 |  | 10,781,118 |  | 9,539,708 |  |

SHAREHOLDERS' FUNDS | 11,219,432 |  | 10,781,119 |  | 9,539,709 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 13 January 2026 and were signed on its behalf by:

R R Ludlow - Director

CHATTERTONS LEGAL SERVICES LIMITED (REGISTERED NUMBER: 09919910)

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 APRIL 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 May 2023 | 1 |  | 9,539,708 |  | 9,539,709 |  |

Changes in equity

Dividends | - |  | (2,013,841 | ) | (2,013,841 | ) |

Total comprehensive income | - |  | 3,821,879 |  | 3,821,879 |  |

Balance at 30 April 2024 | 1 |  | 11,347,746 |  | 11,347,747 |  |

Prior year adjustment | - |  | (566,628 | ) | (566,628 | ) |

As restated | 1 |  | 10,781,118 |  | 10,781,119 |  |

Changes in equity

Dividends | - |  | (2,500,000 | ) | (2,500,000 | ) |

Total comprehensive income | - |  | 2,938,313 |  | 2,938,313 |  |

Balance at 30 April 2025 | 1 |  | 11,219,431 |  | 11,219,432 |  |

CHATTERTONS LEGAL SERVICES LIMITED (REGISTERED NUMBER: 09919910)

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 APRIL 2025

| 2025 |  | 2024

| as restated |

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 3,137,414 |  | 2,799,822 |  |

Interest paid | (1,526,461 | ) | (1,152,932 | ) |

Tax paid | (1,614,096 | ) | (1,112,870 | ) |

Net cash from operating activities | (3,143 | ) | 534,020 |  |

Cash flows from investing activities

Purchase of intangible fixed assets | (549,936 | ) | - |  |

Purchase of tangible fixed assets | (50,843 | ) | (50,433 | ) |

Purchase of fixed asset investments | (261,832 | ) | - |  |

Interest received | 4,051,790 |  | 3,546,507 |  |

Net cash from investing activities | 3,189,179 |  | 3,496,074 |  |

Cash flows from financing activities

Amounts owed by group undertakings | (1,307,222 | ) | (2,498,715 | ) |

Equity dividends paid | (2,500,000 | ) | - |  |

Net cash from financing activities | (3,807,222 | ) | (2,498,715 | ) |

(Decrease)/increase in cash and cash equivalents | (621,186 | ) | 1,531,379 |  |

Cash and cash equivalents at beginning of year | 2 | 7,107,473 |  | 5,576,094 |  |

Cash and cash equivalents at end of year | 2 | 6,486,287 |  | 7,107,473 |  |

CHATTERTONS LEGAL SERVICES LIMITED (REGISTERED NUMBER: 09919910)

NOTES TO THE STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 APRIL 2025

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 2025 |  | 2024

| as restated |

£ | £ |

| Profit before taxation | 3,904,530 |  | 4,386,904 |  |

| Depreciation charges | 157,237 |  | 91,478 |  |

| Management charges | 335,430 |  | 321,860 |  |

| Amounts written off investments | - |  | 999 |  |

| Finance costs | 1,526,461 |  | 1,152,932 |  |

| Finance income | (4,051,790 | ) | (3,546,507 | ) |

1,871,868 |  | 2,407,666 |  |

| Decrease/(increase) in trade and other debtors | 278,497 |  | (475,626 | ) |

| Increase in trade and other creditors | 987,049 |  | 867,782 |  |

| Cash generated from operations | 3,137,414 |  | 2,799,822 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

| Year ended 30 April 2025

| 30.4.25 |  | 1.5.24

£ | £ |

| Cash and cash equivalents | 6,486,287 |  | 7,107,473 |  |

| Year ended 30 April 2024

| 30.4.24 |  | 1.5.23

| as restated |

£ | £ |

| Cash and cash equivalents | 7,107,473 |  | 5,576,094 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.5.24 | Cash flow | At 30.4.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 7,107,473 |  | (621,186 | ) | 6,486,287 |  |

7,107,473 |  | (621,186 | ) | 6,486,287 |  |

| Total | 7,107,473 |  | (621,186 | ) | 6,486,287 |  |

CHATTERTONS LEGAL SERVICES LIMITED (REGISTERED NUMBER: 09919910)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

1. | STATUTORY INFORMATION

| Chattertons Legal Services 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Preparation of consolidated financial statements

| The financial statements contain information about Chattertons Legal Services Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Chattertons Group Limited, 5 South Street, Horncastle, Lincolnshire, LN9 6DS.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Significant judgements and estimates

| In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

| The estimates and underlying assumptions are reviewed on an ongoing basis and are covered within the accounting policies:

| (i) The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 13 for the carrying amount of the property plant and equipment, and accounting policy note for the usual economic lives of each class of assets.

| (ii) The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, ageing profile of debtors and historical experience. See note 14 for the net carrying amount of the debtors and associated impairment provision.

| (iii) When calculating amounts recoverable on contracts, management uses historical accounting data to determine appropriate estimates to calculate the recoverable costs on matters ongoing at the end of the financial year. These estimates are based on historic success rates and average recovery rates of time incurred for each matter type.

| Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects.

CHATTERTONS LEGAL SERVICES LIMITED (REGISTERED NUMBER: 09919910)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

2. | ACCOUNTING POLICIES - continued

| Turnover and other income

| Turnover represents amounts recoverable from clients for professional services provided during the year, excluding value added tax. The company recognises turnover when the amount can be reliably measured and it is probable that economic benefits will flow.

| Services provided to clients, which at the financial reporting date have not been billed, are recognised as amounts recoverable on contracts.

| Revenue recognised in this manner is based on an assessment of the fair value of the services provided at the financial reporting date reflecting the stage of completion of the service rendered. Stage of completion is measured by reference to the sales value of work done to date multiplied by the historical recovery rate for a portfolio of similar clients.

| Rental income is included as the company's right to receive payment is established.

| Interest receivable is recognised using the effective interest method.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of businesses in 2020 and 2025, is being amortised evenly over its estimated useful life of ten years.

| 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.

| Tangible fixed assets

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

| Long leasehold | - | 10% on cost

| Fixtures and fittings | - | 25% on cost and 10% on cost

| Computer equipment | - | 25% on cost and 10% on cost

| 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.

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

CHATTERTONS LEGAL SERVICES LIMITED (REGISTERED NUMBER: 09919910)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

| Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

| At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

| Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

| Debtors and creditors receivable / payable within one year

| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charge to the income statement in the period to which they relate.

CHATTERTONS LEGAL SERVICES LIMITED (REGISTERED NUMBER: 09919910)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

2. | ACCOUNTING POLICIES - continued

| Impairment

| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each statement of financial position date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the income statement unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

| Provisions

| Provisions are recognised when the company has an obligation at the statement of financial position date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

3. | TURNOVER

| The turnover and profit before taxation are attributable to the one principal activity of the company.

| An analysis of turnover by geographical market is given below:

| 2025 |  | 2024

| as restated |

£ | £ |

| United Kingdom | 14,104,592 |  | 13,631,583 |  |

14,104,592 |  | 13,631,583 |  |

4. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

| as restated |

£ | £ |

| Wages and salaries | 7,651,159 |  | 6,738,955 |  |

| Social security costs | 811,112 |  | 683,200 |  |

| Other pension costs | 324,764 |  | 299,389 |  |

8,787,035 |  | 7,721,544 |  |

| The average number of employees during the year was as follows:

| 2025 |  | 2024

| as restated |

| Direct | 113 |  | 114 |  |

| Admin | 77 |  | 75 |  |

190 |  | 189 |  |

| 2025 |  | 2024

| as restated |

£ | £ |

| Directors' remuneration | - |  | - |  |

| Directors' pension contributions to money purchase schemes | 120,000 |  | 120,000 |  |

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | 2 |  | 2 |  |

CHATTERTONS LEGAL SERVICES LIMITED (REGISTERED NUMBER: 09919910)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

5. | OPERATING PROFIT

| The operating profit is stated after charging:

| 2025 |  | 2024

| as restated |

£ | £ |

| Depreciation - owned assets | 105,221 |  | 44,488 |  |

| Goodwill amortisation | 52,016 |  | 46,990 |  |

| Auditors' remuneration | 25,590 |  | 24,140 |  |

| Operating leases | 218,310 |  | 233,648 |  |

6. | EXCEPTIONAL ITEMS

| 2025 |  | 2024

| as restated |

£ | £ |

| Exceptional items | (105,249 | ) | - |  |

| Exceptional items in the year relate to costs from acquisitions and NED expenditure.

7. | INTEREST RECEIVABLE AND SIMILAR INCOME |

| 2025 |  | 2024

| as restated |

£ | £ |

| Deposit account interest | 4,051,790 |  | 3,546,507 |  |

8. | AMOUNTS WRITTEN OFF INVESTMENTS |

| 2025 |  | 2024

| as restated |

£ | £ |

| Amounts written off

| investments | - |  | 999 |  |

9. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

| as restated |

£ | £ |

| Bank charges | 70,075 |  | 63,696 |  |

| Interest paid to clients | 1,425,596 |  | 1,073,474 |  |

| HMRC interest | 30,790 |  | 15,762 |  |

1,526,461 |  | 1,152,932 |  |

10. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 2025 |  | 2024

| as restated |

£ | £ |

| Current tax:

| UK corporation tax | 981,150 |  | 1,129,194 |  |

| Deferred tax | (14,933 | ) | 2,459 |  |

| Tax on profit | 966,217 |  | 1,131,653 |  |

| UK corporation tax has been charged at 25% (2024 - 25%).

CHATTERTONS LEGAL SERVICES LIMITED (REGISTERED NUMBER: 09919910)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

10. | TAXATION - continued

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

| 2025 |  | 2024

| as restated |

£ | £ |

| Profit before tax | 3,904,530 |  | 4,386,904 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 976,133 |  | 1,096,726 |  |

| Effects of:

| Expenses not deductible for tax purposes | 9,968 |  | 22,206 |  |

| Income not taxable for tax purposes | (30,000 | ) | - |  |

| Depreciation in excess of capital allowances | 25,049 |  | 10,262 |  |

| Accelerated capital allowances | (14,933 | ) | 2,459 |  |

| Total tax charge | 966,217 |  | 1,131,653 |  |

11. | DIVIDENDS

| 2025 |  | 2024

| as restated |

£ | £ |

| Ordinary share of £1

| Interim | 2,500,000 |  | 2,013,841 |  |

12. | PRIOR YEAR ADJUSTMENT

| The financial statements for the year ended 30 April 2024 have be restated to recognise an increase in accrued expenses of £755,504 and a decrease to the tax charge of £188,876. The change has resulted in retained earnings as at 30 April 2024 decreasing by £566,628.

13. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 May 2024 | 492,471 |  |

| Additions | 603,151 |  |

| At 30 April 2025 | 1,095,622 |  |

| AMORTISATION

| At 1 May 2024 | 253,605 |  |

| Amortisation for year | 52,016 |  |

| At 30 April 2025 | 305,621 |  |

| NET BOOK VALUE

| At 30 April 2025 | 790,001 |  |

| At 30 April 2024 | 238,866 |  |

CHATTERTONS LEGAL SERVICES LIMITED (REGISTERED NUMBER: 09919910)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

14. | TANGIBLE FIXED ASSETS

| Improvements |

| Long |  | to |

| leasehold |  | property |  | Library

£ | £ | £ |

| COST

| At 1 May 2024 | 27,855 |  | - |  | 11,100 |  |

| Additions | - |  | - |  | - |  |

| Transfer on acquisition | - |  | 17,196 |  | - |  |

| At 30 April 2025 | 27,855 |  | 17,196 |  | 11,100 |  |

| DEPRECIATION

| At 1 May 2024 | 19,499 |  | - |  | 7,770 |  |

| Charge for year | 2,786 |  | 143 |  | 3,330 |  |

| At 30 April 2025 | 22,285 |  | 143 |  | 11,100 |  |

| NET BOOK VALUE

| At 30 April 2025 | 5,570 |  | 17,053 |  | - |  |

| At 30 April 2024 | 8,356 |  | - |  | 3,330 |  |

| Fixtures |

| and |  | Computer |

| fittings |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 May 2024 | 169,935 |  | 424,082 |  | 632,972 |  |

| Additions | 8,698 |  | 42,145 |  | 50,843 |  |

| Transfer on acquisition | 5,171 |  | 12,067 |  | 34,434 |  |

| At 30 April 2025 | 183,804 |  | 478,294 |  | 718,249 |  |

| DEPRECIATION

| At 1 May 2024 | 27,803 |  | 191,554 |  | 246,626 |  |

| Charge for year | 37,865 |  | 61,097 |  | 105,221 |  |

| At 30 April 2025 | 65,668 |  | 252,651 |  | 351,847 |  |

| NET BOOK VALUE

| At 30 April 2025 | 118,136 |  | 225,643 |  | 366,402 |  |

| At 30 April 2024 | 142,132 |  | 232,528 |  | 386,346 |  |

15. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| Additions | 261,832 |  |

| At 30 April 2025 | 261,832 |  |

| NET BOOK VALUE

| At 30 April 2025 | 261,832 |  |

CHATTERTONS LEGAL SERVICES LIMITED (REGISTERED NUMBER: 09919910)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

15. | FIXED ASSET INVESTMENTS - continued

| The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

| Page Nelson Limited

| Registered office: 5 South Street, Horncastle, England, LN9 6DS

| Nature of business: Solicitors

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

2025 | 2024 |

£ | £ |

| Aggregate capital and reserves | 341,283 |  | 50,447 |  |

| Profit for the year | 568,486 |  | 149,993 |  |

| Investment additions in the year relate to the acquisition of Page Neslon Limited on 01 April 2025.

16. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

| as restated |

£ | £ |

| Trade debtors | 1,107,822 |  | 1,284,025 |  |

| Amounts owed by group undertakings | 1,797,392 |  | 858,641 |  |

| Amounts recoverable on contract | 4,297,955 |  | 4,361,120 |  |

| Other debtors | 10,055 |  | 7,208 |  |

| Prepayments and accrued income | 1,146,033 |  | 1,188,009 |  |

8,359,257 |  | 7,699,003 |  |

| Amounts owed by group undertakings that are due within one year are unsecured, repayable on demand and interest free.

17. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

| as restated |

£ | £ |

| Trade creditors | 272,800 |  | 289,943 |  |

| Amounts owed to group undertakings | 2,066,738 |  | 1,986,330 |  |

| Taxation | (137,706 | ) | 521,040 |  |

| Other taxes and social security | 995,073 |  | 801,119 |  |

| Other creditors | 383,008 |  | 85,885 |  |

| Accrued expenses | 1,385,702 |  | 872,587 |  |

4,965,615 |  | 4,556,904 |  |

| Amounts owed to group undertakings that are due within one year are unsecured, repayable on demand and interest free.

18. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

| as restated |

£ | £ |

| Within one year | 237,995 |  | 197,725 |  |

| Between one and five years | 605,464 |  | 507,777 |  |

| In more than five years | 94,500 |  | - |  |

937,959 |  | 705,502 |  |

CHATTERTONS LEGAL SERVICES LIMITED (REGISTERED NUMBER: 09919910)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

19. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

| as restated |

£ | £ |

| Deferred tax

| Accelerated capital allowances | 78,732 |  | 93,665 |  |

| Deferred |

| tax |

£ |

| Balance at 1 May 2024 | 93,665 |  |

| Credit to Income Statement during year | (14,933 | ) |

| Balance at 30 April 2025 | 78,732 |  |

20. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: |  | as restated |

£ | £ |

| 1 | Ordinary | £1 | 1 |  | 1 |  |

21. | RESERVES

| Retained

| earnings

£ |

| At 1 May 2024 | 11,347,746 |  |

| Prior year adjustment | (566,628 | ) |

10,781,118 |  |

| Profit for the year | 2,938,313 |  |

| Dividends | (2,500,000 | ) |

| At 30 April 2025 | 11,219,431 |  |

| Retained earnings

| Includes all current and prior period retained profits and losses less dividends paid. All amounts are distributable.

22. | PENSION COMMITMENTS

| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £324,764 (2024 - £299,509). Contributions totalling £61,398 (2024 - £181,684) were payable to the fund at the year end.

23. | RELATED PARTY DISCLOSURES

| Other related parties

2025 | 2024 |

| as restated |

£ | £ |

| Amount due from related party | 2,066,738 |  | 858,641 |  |

| Amount due to related party | 1,797,392 |  | 1,986,330 |  |

CHATTERTONS LEGAL SERVICES LIMITED (REGISTERED NUMBER: 09919910)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 APRIL 2025

23. | RELATED PARTY DISCLOSURES - continued

| Key management personnel

| Key management personnel compensation is considered to be as reported under director's remuneration disclosed in the 'employees and directors' note. Loans are as reported in the directors' advances, credits and guarantees' note. Any loans with directors are unsecured and repayable on demand.

24. | POST BALANCE SHEET EVENTS

| Chattertons Group Holdings Limited became the controlling party of Chattertons Group Limited on 29 May 2025. Richard Ludlow became the ultimate controlling party as of this date.

25. | ULTIMATE CONTROLLING PARTY

| The controlling party is Chattertons Group Limited.

| The ultimate controlling party is the shareholders.

| The largest group in which the results of the Company are consolidated is Chattertons Group holdings Limited, a company incorporated in England and Wales with registered office 5 South Street, Horncastle, LN9 6DS.

| Chattertons Group Holdings Limited was formed during the year and is not required to file accounts until 2026.

| The consolidated accounts are publicly available and may be obtained from Companies House.