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COMPANY REGISTRATION NUMBER: 4589331
Battrick Clark Solicitors Ltd
Filleted Unaudited Financial Statements
30 April 2023
Battrick Clark Solicitors Ltd
Statement of Financial Position
30 April 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
18,953
22,138
Current assets
Debtors
6
323,257
390,993
Cash at bank and in hand
589,077
539,486
---------
---------
912,334
930,479
Creditors: amounts falling due within one year
7
307,188
400,520
---------
---------
Net current assets
605,146
529,959
---------
---------
Total assets less current liabilities
624,099
552,097
---------
---------
Net assets
624,099
552,097
---------
---------
Capital and reserves
Called up share capital
131
151
Share premium account
389
389
Capital redemption reserve
895
875
Profit and loss account
622,684
550,682
---------
---------
Shareholders funds
624,099
552,097
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Battrick Clark Solicitors Ltd
Statement of Financial Position (continued)
30 April 2023
These financial statements were approved by the board of directors and authorised for issue on 2 October 2023 , and are signed on behalf of the board by:
E R Green
Director
Company registration number: 4589331
Battrick Clark Solicitors Ltd
Notes to the Financial Statements
Year ended 30 April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 151 Whiteladies Road, Clifton, Bristol, BS8 2RA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold improvements
-
10% straight line
Equipment
-
25% straight line
Impairment of fixed assets
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 19 (2022: 21 ).
5. Tangible assets
Land and buildings
Equipment
Total
£
£
£
Cost
At 1 May 2022
12,336
115,608
127,944
Additions
6,591
6,591
--------
---------
---------
At 30 April 2023
12,336
122,199
134,535
--------
---------
---------
Depreciation
At 1 May 2022
3,702
102,104
105,806
Charge for the year
1,234
8,542
9,776
--------
---------
---------
At 30 April 2023
4,936
110,646
115,582
--------
---------
---------
Carrying amount
At 30 April 2023
7,400
11,553
18,953
--------
---------
---------
At 30 April 2022
8,634
13,504
22,138
--------
---------
---------
6. Debtors
2023
2022
£
£
Trade debtors
91,821
169,230
Prepayments and accrued income
47,513
35,910
Other debtors
183,923
185,853
---------
---------
323,257
390,993
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
119,994
87,142
Trade creditors
22,941
36,159
Corporation tax
94,031
133,424
Social security and other taxes
58,435
109,920
Other creditors
11,787
33,875
---------
---------
307,188
400,520
---------
---------
The bank loan of £74,994 (2022: £50,059) is secured by a fixed and floating charge over the company's assets.
8. Financial commitments
The company had total financial commitments and guarantees at the balance sheet date of £227,459 (2022: £259,209). The company, in the previous year, entered into an agreement to purchase some of its own shares of which the final amounts totalling £75,000 are payable within the next year.