Company registration number 07119634 (England and Wales)
TRP SOLICITORS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
TRP SOLICITORS LIMITED
COMPANY INFORMATION
Director
Mr S McLoughlin
Secretary
Ms R K Bruton
Appointed 23 February 2023
Company number
07119634
Registered office
10 The Cloisters
12 George Road
Edgbaston
Birmingham
B15 1NP
Accountants
Jerroms GCN Limited
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
TRP SOLICITORS LIMITED
CONTENTS
Page
Accountants' report
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 7
TRP SOLICITORS LIMITED
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF TRP SOLICITORS LIMITED
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of TRP Solicitors Limited for the year ended 28 February 2023 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the board of directors of TRP Solicitors Limited, as a body, in accordance with the terms of our engagement letter dated 20 September 2023. Our work has been undertaken solely to prepare for your approval the financial statements of TRP Solicitors Limited and state those matters that we have agreed to state to the board of directors of TRP Solicitors Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TRP Solicitors Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that TRP Solicitors Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of TRP Solicitors Limited. You consider that TRP Solicitors Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of TRP Solicitors Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Jerroms GCN Limited
20 September 2023
Chartered Certified Accountants
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
TRP SOLICITORS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
28 FEBRUARY 2023
28 February 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
251,607
254,113
Current assets
Debtors
5
540,384
616,353
Cash at bank and in hand
534,059
379,133
1,074,443
995,486
Creditors: amounts falling due within one year
6
(414,311)
(411,502)
Net current assets
660,132
583,984
Total assets less current liabilities
911,739
838,097
Creditors: amounts falling due after more than one year
7
(136,598)
(152,869)
Provisions for liabilities
(241)
(9,499)
Net assets
774,900
675,729
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
774,800
675,629
Total equity
774,900
675,729
TRP SOLICITORS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
28 FEBRUARY 2023
28 February 2023
- 3 -

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 20 September 2023
Mr S McLoughlin
Director
Company Registration No. 07119634
TRP SOLICITORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 4 -
1
Accounting policies
Company information

TRP Solicitors Limited is a private company limited by shares incorporated in England and Wales. The registered office is 10 The Cloisters, 12 George Road, Edgbaston, Birmingham, B15 1NP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

1.2
Turnover

Turnover represents the total invoice value, excluding value added tax, of the sales made during the period and derives from the provision of services falling within the company's ordinary activities.

1.3
Intangible fixed assets - goodwill

Goodwill represents the amount paid in connection with the acquisition of a business in 2010. Goodwill will be amortised over the estimated life of the asset. Goodwill has been fully amortised.

1.4
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:

Improvements to property
0%
Fixtures and fittings
20% - 33.3% on cost
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in the other comprehensive income or directly in equity.

 

Current tax

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 statement of financial position date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

TRP SOLICITORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 5 -
1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
11
12
3
Intangible fixed assets
Goodwill
£
Cost
At 1 March 2022 and 28 February 2023
600,000
Amortisation
At 1 March 2022 and 28 February 2023
600,000
Carrying amount
At 28 February 2023
-
0
At 28 February 2022
-
0
TRP SOLICITORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 6 -
4
Tangible fixed assets
Improvements to property
Fixtures and fittings
Total
£
£
£
Cost
At 1 March 2022 and 28 February 2023
250,340
37,691
288,031
Depreciation and impairment
At 1 March 2022
-
0
33,918
33,918
Depreciation charged in the year
-
0
2,506
2,506
At 28 February 2023
-
0
36,424
36,424
Carrying amount
At 28 February 2023
250,340
1,267
251,607
At 28 February 2022
250,340
3,773
254,113
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
513,779
592,602
Other debtors
16,528
17,554
Prepayments and accrued income
10,077
6,197
540,384
616,353

Amounts owed by related parties do not bear interest, are unsecured and are repayable on demand.

6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
15,847
15,143
Corporation tax
45,437
49,570
Other taxation and social security
36,932
6,373
Other creditors
310,706
334,991
Accruals and deferred income
5,389
5,425
414,311
411,502
7
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans
136,598
152,869
TRP SOLICITORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
7
Creditors: amounts falling due after more than one year
(Continued)
- 7 -
Amounts included above which fall due after five years are as follows:
Payable by instalments
95,984
99,571
8
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2023
2022
Balances:
£
£
Accelerated capital allowances
241
9,499
2023
Movements in the year:
£
Liability at 1 March 2022
9,499
Credit to profit or loss
(9,258)
Liability at 28 February 2023
241
9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100

The companies shareholding was acquired by TRP 2022 Ltd on 30 June 2022.

10
Contingent liabilities

Debentures have been registered by Royal Bank of Scotland Plc dated 30 January 2017 and 17 February 2017. The comprise of fixed and floating charges over all property and undertakings of the company.

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