Catherine Higgins Law Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Catherine Higgins Law Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08484440 . The registered office is 45 Allerton Road, Woolton, Liverpool, Merseyside, L25 7RE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Aquired goodwill was written off in full in the year of acquisition.

Historical Goodwill (other than acquired) - 20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

2.4. Tangible Fixed Assets and Depreciation

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	- 15% reducing balance
Computer equipment	- 15% reducing balance

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Catherine Higgins Law Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.5. Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.7. Financial Instruments

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

2.8. Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

2.9. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.10. Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the

cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

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Catherine Higgins Law Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.11. Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 14 (2025: 13)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2025	103,839

As at 31 March 2026	103,839

Amortisation
As at 1 April 2025	103,839

As at 31 March 2026	103,839

Net Book Value
As at 31 March 2026	-

As at 1 April 2025	-

5. Tangible Assets

	Plant and machinery	Computer equipment	Total
	£	£	£
Cost
As at 1 April 2025	27,006	20,186	47,192
Additions	-	3,685	3,685

As at 31 March 2026	27,006	23,871	50,877

Depreciation
As at 1 April 2025	27,006	13,336	40,342
Provided during the period	-	1,027	1,027

As at 31 March 2026	27,006	14,363	41,369

Net Book Value
As at 31 March 2026	-	9,508	9,508

As at 1 April 2025	-	6,850	6,850

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Catherine Higgins Law Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

6. Stocks

	2026	2025 as restated
	£	£
Work in progress	286,500	248,500

7. Debtors

	2026	2025 as restated
	£	£
Due within one year
Trade debtors	66,137	131,220
Prepayments and accrued income	20,124	60,372
Other debtors	2,610	-
Deferred tax current asset	9,068	-

	97,939	191,592

8. Creditors: Amounts Falling Due Within One Year

	2026	2025 as restated
	£	£
Bank loans and overdrafts	32,500	94,346
Other creditors	322,181	314,493
Taxation and social security	39,153	42,702

	393,834	451,541

9. Share Capital

	2026	2025 as restated
	£	£
Allotted, Called up and fully paid	1	1

10. Directors Advances, Credits and Guarantees

No directors' received advances, credits or guarantees during the current or previous accounting periods.

11. Related Party Transactions

The following related party transactions were undertaken during the year:

Dividends were paid to the directors in respect of their shareholdings totalling £Nil (2025: £Nil).

The aggregate remuneration paid to key management personnel for the year was £16,047 (2025: £12,000).

During the period a director withdrew amounts of £8,300 (2025: £Nil), introduced capital of £520 (2025: £940) and declared dividends of £Nil (2025: £Nil). At the balance sheet date the amount owed to the director totalled £111,959 (2025: £119,739).

No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

12. Prior Period Adjustment

Prior period errors have been identified in respect of earlier periods concerning bank balances, PAYE, VAT, loans and profit & loss. The result of this presents a net effect of £69,899 in decreased profit brought forward. The comparatives have been restated accordingly.

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		2026		2025 as restated
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		9,508		6,850

			9,508		6,850
CURRENT ASSETS
Stocks	6	286,500		248,500
Debtors	7	97,939		191,592
Cash at bank and in hand		13,089		1,852

		397,528		441,944
Creditors: Amounts Falling Due Within One Year	8	(393,834 )		(451,541 )

NET CURRENT ASSETS (LIABILITIES)			3,694		(9,597 )

TOTAL ASSETS LESS CURRENT LIABILITIES			13,202		(2,747 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			-		(1,712 )

NET ASSETS/(LIABILITIES)			13,202		(4,459 )

CAPITAL AND RESERVES
Called up share capital	9		1		1
Profit and Loss Account			13,201		(4,460 )

SHAREHOLDERS' FUNDS			13,202		(4,459)