REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 January 2023 to 31 May 2023 |
for |
Hookfield Law Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 January 2023 to 31 May 2023 |
for |
Hookfield Law Ltd |
Hookfield Law Ltd (Registered number: 11680348) |
Contents of the Financial Statements |
for the Period 1 January 2023 to 31 May 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Hookfield Law Ltd |
Company Information |
for the Period 1 January 2023 to 31 May 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Airport House |
Suite 43-45 |
Purley Way |
Croydon |
CR0 0XZ |
Hookfield Law Ltd (Registered number: 11680348) |
Balance Sheet |
31 May 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 8 |
The director acknowledges her 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. |
Hookfield Law Ltd (Registered number: 11680348) |
Balance Sheet - continued |
31 May 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Hookfield Law Ltd (Registered number: 11680348) |
Notes to the Financial Statements |
for the Period 1 January 2023 to 31 May 2023 |
1. | STATUTORY INFORMATION |
Hookfield Law Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The principal activity of the company continued to be that of the provision of legal services. |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
TURNOVER |
Turnover is state net of VAT and is recognised when significant risk and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represent the value of services provided under contract to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. If the contact has been partially completed at the balance sheet date turnover represents the fair value of services provided to date based on stage of completion of the contact service at the balance sheet date. Any amounts received in advance are from customers are recorded deferred income and included within creditors due within one year. |
TANGIBLE FIXED ASSETS |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: |
Fixtures and fittings 25% on reducing balance |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. |
FINANCIAL INSTRUMENTS |
The company only enters into basic financial transactions that result in recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from bank and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
TAXATION |
The tax expense represents the sum of the tax currently payable and deferred tax. |
CURRENT TAX |
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. |
DEFERRED TAX |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Hookfield Law Ltd (Registered number: 11680348) |
Notes to the Financial Statements - continued |
for the Period 1 January 2023 to 31 May 2023 |
2. | ACCOUNTING POLICIES - continued |
PENSION |
DEFINE CONTRIBUTION PENSION PLAN |
The company operates a defined contribution pension plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contribution into 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 income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds. |
PROVISION FOR LIABILITIES |
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit and a reliable estimate can be made of the amount of the obligation. |
Provisions are charged as an expense to the statement of income and retained earnings in the year that the company becomes aware of the obligation and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. |
When payments are eventually made, they are charged to the provision carried in Balance sheet. |
REPORTING PERIOD |
The entity has shorten the year end by 7 months to 31 May 2023 as entity has ceased its trading activity further and therefore the comparative amounts presented in the financial statements are not entirely comparable. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 January 2023 |
Additions |
Disposals | ( |
) |
At 31 May 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for period |
Eliminated on disposal | ( |
) |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 December 2022 |
Hookfield Law Ltd (Registered number: 11680348) |
Notes to the Financial Statements - continued |
for the Period 1 January 2023 to 31 May 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
The directors consider the carrying value of trade and other receivables approximate to their fair values. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Taxation and social security |
Other creditors |
The directors consider the carrying amounts of current liabilities approximate to their fair values. |
7. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | - | 428 |
Deferred |
tax |
£ |
Balance at 1 January 2023 |
Provided during period | ( |
) |
Balance at 31 May 2023 |
8. | RESERVES |
PROFIT AND LOSS RESERVES |
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve. |
9. | PENSION COMMITMENTS |
The Company makes gross contributions to the directors personal defined contribution pension scheme that are charged to the profit and loss account in the period when they are paid. During the year the company made £3,790 (2022 - £8,033) contributions to the directors personal defined contribution pension scheme. |
10. | RELATED PARTY DISCLOSURES |
At the balance sheet date included in other debtors were amounts due from the director of £100 (2022 - £7,934 in other creditors). |