Cardium Law Limited
Unaudited Financial Statements
For the year ended 31 August 2025
Pages for Filing with Registrar
Company Registration No. 10922758 (England and Wales)
Cardium Law Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
Cardium Law Limited
Balance Sheet
As at 31 August 2025
Page 1
2025
2024
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
3
22,256
5,721
Current assets
Debtors
4
1,385,693
911,591
Cash at bank and in hand
562,198
84,580
1,947,891
996,171
Creditors: amounts falling due within one year
5
(642,687)
(532,929)
Net current assets
1,305,204
463,242
Total assets less current liabilities
1,327,460
468,963
Creditors: amounts falling due after more than one year
6
(187,655)
(232,386)
Net assets
1,139,805
236,577
Capital and reserves
Called up share capital
7
102
102
Profit and loss reserves
1,139,703
236,475
Total equity
1,139,805
236,577

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Cardium Law Limited
Balance Sheet (Continued)
As at 31 August 2025
Page 2
The financial statements were approved by the board of directors and authorised for issue on 9 February 2026 and are signed on its behalf by:
Mr M F D Clark
Director
Company Registration No. 10922758
Cardium Law Limited
Notes to the Financial Statements
For the year ended 31 August 2025
Page 3
1
Accounting policies
Company information

Cardium Law Limited is a private company limited by shares incorporated in England and Wales. The registered office is Hamilton House, 1 Temple Avenue, London, United Kingdom, EC4Y 0HA.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
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.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recover ed.

Unbilled fee income is included as unbilled revenue within debtors. Unbilled revenue is stated at fair value where the right to consideration has been obtained. Provision is made against unbilled amounts on those engagements where the right to receive payments is contingent on factors outside the control of the company. Contingent fee income is recognised in the period when the contingent event occurs.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery etc
25% straight line method
Cardium Law Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2025
1
Accounting policies
(Continued)
Page 4

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
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 current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Cardium Law Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2025
1
Accounting policies
(Continued)
Page 5
Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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. A m ounts 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.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Cardium Law Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2025
1
Accounting policies
(Continued)
Page 6
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
11
10
Cardium Law Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2025
Page 7
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2024
31,651
Additions
24,012
At 31 August 2025
55,663
Depreciation and impairment
At 1 September 2024
25,930
Depreciation charged in the year
7,477
At 31 August 2025
33,407
Carrying amount
At 31 August 2025
22,256
At 31 August 2024
5,721
4
Debtors
2025
2024
as restated
Amounts falling due within one year:
£
£
Trade debtors
293,821
426,798
Other debtors
752,387
188,125
Prepayments and accrued income
339,485
296,668
1,385,693
911,591
Cardium Law Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2025
Page 8
5
Creditors: amounts falling due within one year
2025
2024
as restated
£
£
Bank loans and overdrafts
55,476
62,839
Trade creditors
31,676
137,585
Corporation tax
312,462
98,346
Other taxation and social security
70,902
61,716
Other creditors
154,485
148,367
Accruals and deferred income
17,686
24,076
642,687
532,929
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
187,655
232,386
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A Shares of £1 each
2
2
2
2
Ordinary B Shares of £1 each
100
100
100
100
102
102
102
102
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £214,070 (2024: £160,350).

Cardium Law Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2025
Page 9
9
Related party transactions

At the year end, the company was owed £581,927 (2024: £28,834 owed to the directors) from the directors of the company. This amount is included within other debtors. The loans are unsecured and no interest has been charged on these balances. The loans were repaid within 9 months from the Balance Sheet date.

Also included within other debtors is an amount of £116,129 (2024: £60,034) which is owed from a company connected by way of common control. The amount is unsecured, interest free and has no fixed repayment terms.

10
Prior period adjustment
Reconciliation of changes in equity
The prior period adjustments do not give rise to any effect upon equity.
Reconciliation of changes in profit for the previous financial period
2024
£
Total adjustments
-
Profit as previously reported
35,766
Profit as adjusted
35,766
Notes to reconciliation
Cost of sales

A prior period adjustment has been made to correct the classification of work in progress in the profit and loss account. This was originally recognised within cost of sales but should have been recognised within turnover. The effect of the changes is that turnover has increased by £146,834 and cost of sales has increased by £146,834. The impact on equity and the profit as previously reported is £nil.

Balance sheet stock

A prior period adjustment has been made to correct the classification of work in progress in the balance sheet. This was originally recognised as stock but should have been recognised as work in progress. The effect of the change is that stock has reduced by £264,341 and work in progress has increased by £264,341. The impact on equity and the profit as previously reported is £nil.

Client bank account

A prior period adjustment has been made to remove client monies incorrectly included within the company's balance sheet. The client account balances were included within cash at bank and in hand and amounts due to clients were included within other creditors. The effect of the change is that cash at bank and in hand has reduced by £199,641 and other creditors have reduced by £199,641. The impact on equity and the profit as previously reported is £nil.

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