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REGISTERED NUMBER: 05837427 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH NOVEMBER 2021

FOR

ILAW SOLICITORS LIMITED

ILAW SOLICITORS LIMITED (REGISTERED NUMBER: 05837427)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ILAW SOLICITORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH NOVEMBER 2021







DIRECTORS: J J Ellis
M C Culbert
T Clark
L A Roberts
Ms J Harper





REGISTERED OFFICE: Temple Chambers
3-7 Temple Avenue
Email Invoices: Sarah.Webster@ilaw.co.uk
London
EC4Y 0HP





REGISTERED NUMBER: 05837427 (England and Wales)





ACCOUNTANTS: Parkers
Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ

ILAW SOLICITORS LIMITED (REGISTERED NUMBER: 05837427)

BALANCE SHEET
30TH NOVEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 498 2,452

CURRENT ASSETS
Stocks 66,902 78,223
Debtors 5 386,204 401,933
Cash at bank and in hand 324,998 215,686
778,104 695,842
CREDITORS
Amounts falling due within one year 6 319,099 311,803
NET CURRENT ASSETS 459,005 384,039
TOTAL ASSETS LESS CURRENT
LIABILITIES

459,503

386,491

CREDITORS
Amounts falling due after more than one
year

7

35,000

45,000
NET ASSETS 424,503 341,491

CAPITAL AND RESERVES
Called up share capital 118 118
Retained earnings 424,385 341,373
SHAREHOLDERS' FUNDS 424,503 341,491

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2021 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.

ILAW SOLICITORS LIMITED (REGISTERED NUMBER: 05837427)

BALANCE SHEET - continued
30TH NOVEMBER 2021


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 15th August 2022 and were signed on its behalf by:





J J Ellis - Director


ILAW SOLICITORS LIMITED (REGISTERED NUMBER: 05837427)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2021

1. STATUTORY INFORMATION

ILaw Solicitors 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.

Significant judgements and estimates
No significant judgements have had to be made by the directors in preparing these financial statements.

Turnover
Turnover represents net invoiced sales of services, and is disclosed net of value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 66% on cost
Fixtures and fittings - 50% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Costs include all direct expenditure and an appropriate proportion of fixed and variable overheads.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

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.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

ILAW SOLICITORS LIMITED (REGISTERED NUMBER: 05837427)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2021

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2020 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Office and
equipment fittings Totals
£    £    £   
COST
At 1st December 2020 38,946 7,099 46,045
Additions 779 - 779
At 30th November 2021 39,725 7,099 46,824
DEPRECIATION
At 1st December 2020 36,710 6,883 43,593
Charge for year 2,518 215 2,733
At 30th November 2021 39,228 7,098 46,326
NET BOOK VALUE
At 30th November 2021 497 1 498
At 30th November 2020 2,236 216 2,452

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 304,018 325,891
Other debtors 82,186 76,042
386,204 401,933

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 10,000 5,000
Trade creditors 108,906 57,878
Taxation and social security 153,193 193,372
Other creditors 47,000 55,553
319,099 311,803

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans 35,000 45,000

ILAW SOLICITORS LIMITED (REGISTERED NUMBER: 05837427)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2021

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2021 2020
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 5,000