Annual Report & Accounts 2026
71
OUR FINANCIALS
The Directors consider that the carrying value of trade and other receivables approximates to fair value.
The movement in the provision for impairment of trade receivables was as follows:
2026 £ 2026 £ Balance at 1 February
5,497,587
4,812,995
Charge for the year
1,774,951
1,470,788
Amounts written off
(596,834)
(786,196)
Balance at 31 January
6,675,704
5,497,587
Because the payment terms of the Group’s lawyers is “pay when paid”, the impairment of a trade receivable balance automatically generates a directly related adjustment to trade payables (being approximately 75% of the net value impaired).
Accrued income, which is stated net of an expected loss provision, has increased year on year largely in line with revenue, with accrued income days of 46 as at 31 January 2026 (2026: 48 days).
18. ALLOTTED, CALLED UP AND FULLY PAID SHARES – GROUP AND COMPANY
As at 31 January 2026
As at 31 January 2026
No.
£
No.
£
Ordinary shares of £0.002 31,717,258
63,435
31,592,878
63,186
RIGHTS, PREFERENCES AND RESTRICTIONS
Ordinary shares have the following rights, preferences and restrictions:
Ordinary shares have attached to them full voting, dividend and capital distribution (on winding up) rights; they do not confer any rights of redemption.
19. PENSION AND OTHER SCHEMES
DEFINED CONTRIBUTION PENSION SCHEME
The Group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the Group to the scheme and amounted to £286,194 (2026: £242,499). The amount outstanding for payment to the scheme at 31 January 2026 was £65,136 (2026: £52,974).
OUR FINANCIALS
The Directors consider that the carrying value of trade and other receivables approximates to fair value.
The movement in the provision for impairment of trade receivables was as follows:
2026 £ 2026 £ Balance at 1 February
5,497,587
4,812,995
Charge for the year
1,774,951
1,470,788
Amounts written off
(596,834)
(786,196)
Balance at 31 January
6,675,704
5,497,587
Because the payment terms of the Group’s lawyers is “pay when paid”, the impairment of a trade receivable balance automatically generates a directly related adjustment to trade payables (being approximately 75% of the net value impaired).
Accrued income, which is stated net of an expected loss provision, has increased year on year largely in line with revenue, with accrued income days of 46 as at 31 January 2026 (2026: 48 days).
18. ALLOTTED, CALLED UP AND FULLY PAID SHARES – GROUP AND COMPANY
As at 31 January 2026
As at 31 January 2026
No.
£
No.
£
Ordinary shares of £0.002 31,717,258
63,435
31,592,878
63,186
RIGHTS, PREFERENCES AND RESTRICTIONS
Ordinary shares have the following rights, preferences and restrictions:
Ordinary shares have attached to them full voting, dividend and capital distribution (on winding up) rights; they do not confer any rights of redemption.
19. PENSION AND OTHER SCHEMES
DEFINED CONTRIBUTION PENSION SCHEME
The Group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the Group to the scheme and amounted to £286,194 (2026: £242,499). The amount outstanding for payment to the scheme at 31 January 2026 was £65,136 (2026: £52,974).