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REGISTERED NUMBER: 05872793 (England and Wales)













ONE ESSEX COURT LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2021






ONE ESSEX COURT LIMITED (REGISTERED NUMBER: 05872793)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ONE ESSEX COURT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2021







DIRECTORS: W R Davies
R L I Gillis
C R S Graham
A R F Lenon





SECRETARY: J E Huxley





REGISTERED OFFICE: One Essex Court
Temple
London
EC4Y 9AR





REGISTERED NUMBER: 05872793 (England and Wales)





ACCOUNTANTS: Sinclairs Bartrum Lerner
Chartered Accountants
Second Floor
34 Lime Street
London
EC3M 7AT

ONE ESSEX COURT LIMITED (REGISTERED NUMBER: 05872793)

BALANCE SHEET
31ST DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 145,383 181,126
Investments 5 100 100
145,483 181,226

CURRENT ASSETS
Debtors 6 1,953,561 1,805,424
Cash at bank and in hand 657,849 820,772
2,611,410 2,626,196
CREDITORS
Amounts falling due within one year 7 676,753 662,358
NET CURRENT ASSETS 1,934,657 1,963,838
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,080,140

2,145,064

PROVISIONS FOR LIABILITIES 9,000 23,327
NET ASSETS 2,071,140 2,121,737

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 2,071,136 2,121,733
SHAREHOLDERS' FUNDS 2,071,140 2,121,737

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

ONE ESSEX COURT LIMITED (REGISTERED NUMBER: 05872793)

BALANCE SHEET - continued
31ST DECEMBER 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 16th June 2022 and were signed on its behalf by:





A R F Lenon - Director


ONE ESSEX COURT LIMITED (REGISTERED NUMBER: 05872793)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021


1. STATUTORY INFORMATION

One Essex Court 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.

Turnover
Turnover represents contributions receivable in respect of services provided to members of the chambers during the year net of value added tax. Turnover excludes amounts received by the company where it acts as an agent for the members of the chambers.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - over the duration of the lease
Improvements to property - over the duration of the lease
Fixtures and fittings - 20% straight line on cost
Computer equipment - 20% straight line on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the period until the date the rent is expected to be adjusted to the prevailing market rate.

ONE ESSEX COURT LIMITED (REGISTERED NUMBER: 05872793)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2021


2. ACCOUNTING POLICIES - continued

Pensions
The company provides access to a stakeholder pension scheme and remits employee contributions to the pension scheme provider.

Funds held on trust
The company receives monies in respect of fees due to barristers, which it holds in a separate account on trust for those barristers. The funds are not treated as an asset of the company and are not reported in the company's balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2020 - 38 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Short to and Computer
leasehold property fittings equipment Totals
£    £    £    £    £   
COST
At 1st January 2021 334,333 534,360 447,430 248,401 1,564,524
Additions - - 11,129 26,600 37,729
At 31st December 2021 334,333 534,360 458,559 275,001 1,602,253
DEPRECIATION
At 1st January 2021 311,664 450,587 407,773 213,374 1,383,398
Charge for year 16,148 21,535 18,545 17,244 73,472
At 31st December 2021 327,812 472,122 426,318 230,618 1,456,870
NET BOOK VALUE
At 31st December 2021 6,521 62,238 32,241 44,383 145,383
At 31st December 2020 22,669 83,773 39,657 35,027 181,126

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st January 2021
and 31st December 2021 100
NET BOOK VALUE
At 31st December 2021 100
At 31st December 2020 100

ONE ESSEX COURT LIMITED (REGISTERED NUMBER: 05872793)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2021


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 1,100,694 972,044
Amounts owed by group undertakings 9,803 33,203
Prepayments and other debtors 843,064 800,177
1,953,561 1,805,424

Prepayment and other debtors include:

20212020
Prepaid expenses £629,555£600,227
Loans to Barristers£100,268£85,697


Trade debtors represent amounts invoiced for barrister contributions in December 2021 and received in January 2022.


.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 118,629 95,704
Taxation and social security 285,248 398,036
Other creditors 272,876 168,618
676,753 662,358

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2021 2020
£    £   
Within one year 421,000 421,000

The above figures include property leases.