Company registration number 07421328 (England and Wales)
CARLSONS SOLICITORS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
CARLSONS SOLICITORS LIMITED
COMPANY INFORMATION
Directors
D M Russell
R S Higham
K Suleyman
Company number
07421328
Registered office
Whetstone House
1-3 Oakleigh Road North
Whetstone
London
N20 9HE
Accountants
Grunberg & Co Limited
5 Technology Park
Colindeep Lane
Colindale
London
United Kingdom
NW9 6BX
CARLSONS SOLICITORS LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7
CARLSONS SOLICITORS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
5,181
7,865
Current assets
Debtors
5
451,885
407,409
Cash at bank and in hand
30,886
87,064
482,771
494,473
Creditors: amounts falling due within one year
6
(268,668)
(214,404)
Net current assets
214,103
280,069
Total assets less current liabilities
219,284
287,934
Creditors: amounts falling due after more than one year
7
(61,569)
(124,071)
Provisions for liabilities
(674)
(946)
Net assets
157,041
162,917
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
156,941
162,817
Total equity
157,041
162,917

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

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he 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.

CARLSONS SOLICITORS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 14 September 2023 and are signed on its behalf by:
D M Russell
Director
Company Registration No. 07421328
CARLSONS SOLICITORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information

Carlsons Solicitors Limited is a private company limited by shares incorporated in England and Wales. The registered office is Whetstone House, 1-3 Oakleigh Road North, Whetstone, London, N20 9HE.

1.1
Accounting convention

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.

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

The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the invoiced value of services provided net of VAT and the movement in the year in amount

recoverable on contracts not invoiced a the year end.

Fee income represents revenue earned under a wide variety of contracts to provide professional services.

Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in

exchange for its performance under these contracts. It is measured at the fair value of the right to consideration,

which represents amounts chargeable to clients, including expenses and disbursements but excluding value added

tax.

1.3
Intangible fixed assets - goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

1.4
Tangible fixed assets

Tangible fixed assets are stated at historical costs less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings
25% on reducing balance
Computers
25% on cost

Gain and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the income statement.

CARLSONS SOLICITORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
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

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 is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

CARLSONS SOLICITORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 5 -
1.7
Retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

1.8
Leases

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

2
Employees

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

2023
2022
Number
Number
Total
12
12
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
350,000
Amortisation and impairment
At 1 April 2022 and 31 March 2023
350,000
Carrying amount
At 31 March 2023
-
0
At 31 March 2022
-
0
CARLSONS SOLICITORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
4
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 April 2022
3,318
33,475
36,793
Additions
965
1,415
2,380
At 31 March 2023
4,283
34,890
39,173
Depreciation and impairment
At 1 April 2022
2,975
25,953
28,928
Depreciation charged in the year
326
4,738
5,064
At 31 March 2023
3,301
30,691
33,992
Carrying amount
At 31 March 2023
982
4,199
5,181
At 31 March 2022
343
7,522
7,865
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
254,777
217,619
Other debtors
144,772
146,330
Prepayments and accrued income
52,336
43,460
451,885
407,409

Included within other debtors, there is a balance owed by the director, which is repayable on demand.

Included within other debtors, there is a tax recoverable amount of £33,817 (2022 - £33,817).

CARLSONS SOLICITORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 7 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
92,688
54,833
Trade creditors
34,019
21,822
Corporation tax
43,799
61,323
Other taxation and social security
86,164
68,426
Other creditors
3,998
-
0
Accruals and deferred income
8,000
8,000
268,668
214,404
7
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
61,569
124,071
8
Directors' transactions

The interest was charged at the market rate.

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
D M Russell -
2.00
104,054
178,805
2,022
(184,681)
100,200
104,054
178,805
2,022
(184,681)
100,200
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