REGISTERED NUMBER: 11583768 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

FOR

PATWORLD LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr T E Parry

Mr D A Parry

REGISTERED OFFICE:

13 - 14 Gelliwastad Road

Pontypridd

RCT

CF37 2BW

REGISTERED NUMBER:

11583768 (England and Wales)

ACCOUNTANTS:

Sullivans Chartered Accountants

13-14 Gelliwastad Road

Pontypridd

Rhondda Cynon Taf

CF37 2BW

FIXED ASSETS

Intangible assets

4

29,148

32,387

Property, plant and equipment

5

4,073

4,714

Investments

6

25,434

672

58,655

37,773

CURRENT ASSETS

Debtors

7

422,430

366,826

Cash at bank and in hand

52,760

35,806

475,190

402,632

CREDITORS

Amounts falling due within one year

8

610,379

397,887

NET CURRENT (LIABILITIES)/ASSETS

(135,189

)

4,745

TOTAL ASSETS LESS CURRENT LIABILITIES

(76,534

)

42,518

PROVISIONS FOR LIABILITIES

-

7,287

NET (LIABILITIES)/ASSETS

(76,534

)

35,231

CAPITAL AND RESERVES

Called up share capital

11

300

300

Retained earnings

(76,834

)

34,931

(76,534

)

35,231

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2026 and were signed on its behalf by:

Mr T E Parry - Director

Mr D A Parry - Director

1.	STATUTORY INFORMATION

PatWorld Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going Concern

The financial statements have been prepared on the going concern basis. At the balance sheet date, the company had net liabilities and incurred a loss in the current year.

The directors have reviewed the company’s financial position and forecasts for a period of at least 12 months from the date of approval of these financial statements. In performing this assessment, the directors have applied significant judgement regarding planned structural and operational changes anticipated to take effect during the 2026/27 period, which are expected to restore the business to financial viability.

On this basis, the directors conclude that it remains appropriate to prepare the financial statements on a going concern basis.

Turnover

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

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

Intangible assets

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

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

Tangible fixed assets

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

Plant and machinery

-

at varying rates on cost

Computer equipment

-

33% on reducing balance

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2025 - 29 ) .

4.	INTANGIBLE FIXED ASSETS

Developmen

costs

£

COST

At 1 March 2025

and 28 February 2026

38,431

AMORTISATION

At 1 March 2025

6,044

Amortisation for year

3,239

At 28 February 2026

9,283

NET BOOK VALUE

At 28 February 2026

29,148

At 28 February 2025

32,387

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 March 2025

8,378

Additions

1,395

At 28 February 2026

9,773

DEPRECIATION

At 1 March 2025

3,664

Charge for year

2,036

At 28 February 2026

5,700

NET BOOK VALUE

At 28 February 2026

4,073

At 28 February 2025

4,714

6.	FIXED ASSET INVESTMENTS

Listed

investments

£

COST OR VALUATION

At 1 March 2025

672

Additions

24,762

At 28 February 2026

25,434

NET BOOK VALUE

At 28 February 2026

25,434

At 28 February 2025

672

Cost or valuation at 28 February 2026 is represented by:

Listed

investments

£

Valuation in 2025

672

Valuation in 2026

24,762

25,434

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28/2/26

28/2/25

£

£

Trade debtors

371,576

292,776

Amounts recoverable on contract

12,515

4,950

Other debtors

38,339

69,100

422,430

366,826

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28/2/26

28/2/25

£

£

Trade creditors

44,904

58,439

Taxation and social security

361,540

291,335

Other creditors

203,935

48,113

610,379

397,887

9.	LEASING AGREEMENTS

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

28/2/26

28/2/25

£

£

Within one year

6,546

6,546

Between one and five years

6,546

13,092

13,092

19,638

Operating lease commitments relate mainly to equipment.

10.	SECURED DEBTS

The following secured debts are included within creditors:

28/2/26

28/2/25

£

£

Factoring liabilities

174,988

-

This balance represents advances received under an invoice factoring agreement and is secured by a legal charge incorporating a fixed and floating charge over the company's trade receivables, current assets, and undertaking in favour of Bibby Financial Services Ltd.

11.	CALLED UP SHARE CAPITAL

Allotted, issues and fully paid:

Number:

Class:

Nominal

28/02/26

29/02/25

Value:

£

£

400

Ordinary

50p

200

200

50

Ordinary A

50p

25

25

50

Ordinary B

50p

25

25

50

Ordinary C

50p

25

25

50

Ordinary D

50p

25

25

300

300

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2026 and 28 February 2025:

28/2/26

28/2/25

£

£

Mr T E Parry and Mr D A Parry

Balance outstanding at start of year

50,000

-

Amounts advanced

22,626

50,000

Amounts repaid

(74,226

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(1,600

)

50,000