2022-09-012023-08-312023-08-31false12839159Kelly Family Law 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Kelly Family Law Limited

Registered Number
12839159
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2023

Kelly Family Law Limited
Company Information
for the year from 1 September 2022 to 31 August 2023

Directors

Hannah May
Jacob May

Registered Address

28 Baddow Road
Chelmsford
CM2 0DG

Registered Number

12839159 (England and Wales)
Kelly Family Law Limited
Balance Sheet as at
31 August 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets640,1266,105
40,1266,105
Current assets
Debtors736,69812,135
Current asset investments43,72642,551
Cash at bank and on hand52,54047,046
132,964101,732
Creditors amounts falling due within one year8(70,929)(45,032)
Net current assets (liabilities)62,03556,700
Total assets less current liabilities102,16162,805
Provisions for liabilities(8,580)(5,427)
Net assets93,58157,378
Capital and reserves
Called up share capital100100
Profit and loss account93,48157,278
Shareholders' funds93,58157,378
The financial statements were approved and authorised for issue by the Board of Directors on 2 October 2023, and are signed on its behalf by:
Jacob May
Director
Registered Company No. 12839159
Kelly Family Law Limited
Notes to the Financial Statements
for the year ended 31 August 2023

1.Statutory information
Kelly Family Law Limited is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Basis of measurement used in financial statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in pound sterling, which is the functional currency of the company.
4.Accounting policies
Turnover policy
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: • the amount of revenue can be measured reliably; • it is probable that the company will receive the consideration due under the contract; and • the stage of completion of the contract at the end of the reporting period can be measured reliably.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Vehicles6
Office Equipment5
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Taxation policy
Tax is recognised in the statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.
Deferred tax policy
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the statement of financial position date, except that: • the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and • any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Investments policy
Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Employee benefits policy
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in the statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the company in independently administered funds.
5.Employee information

20232022
Average number of employees during the year54
6.Property, plant and equipment

Total

£
Cost or valuation
At 01 September 227,425
Additions36,281
At 31 August 2343,706
Depreciation and impairment
At 01 September 221,320
Charge for year2,260
At 31 August 233,580
Net book value
At 31 August 2340,126
At 31 August 226,105
7.Debtors

2023

2022

££
Trade debtors / trade receivables11,0853,214
Prepayments and accrued income25,6138,921
Total36,69812,135
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables9,0578,629
Taxation and social security52,44632,158
Other creditors5,316845
Accrued liabilities and deferred income4,1103,400
Total70,92945,032
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.