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REGISTERED NUMBER: 05409815 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

PEARCELEGAL LIMITED

PEARCELEGAL LIMITED (REGISTERED NUMBER: 05409815)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PEARCELEGAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: G M Pearce
N A Thomas





SECRETARY: G M Pearce





REGISTERED OFFICE: 2 The Square
Solihull
West Midlands
B91 3RB





REGISTERED NUMBER: 05409815 (England and Wales)





ACCOUNTANTS: Prime
Chartered Accountants
Corner Oak
1 Homer Road
Solihull
B91 3QG

PEARCELEGAL LIMITED (REGISTERED NUMBER: 05409815)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,968 14,357

CURRENT ASSETS
Stocks 176,498 194,094
Debtors 5 302,346 243,572
Cash at bank and in hand 7,455 4,020
486,299 441,686
CREDITORS
Amounts falling due within one year 6 298,199 311,762
NET CURRENT ASSETS 188,100 129,924
TOTAL ASSETS LESS CURRENT
LIABILITIES

199,068

144,281

CREDITORS
Amounts falling due after more than one
year

7

(22,500

)

(47,581

)

PROVISIONS FOR LIABILITIES (2,054 ) -
NET ASSETS 174,514 96,700

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 174,414 96,600
174,514 96,700

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

PEARCELEGAL LIMITED (REGISTERED NUMBER: 05409815)

BALANCE SHEET - continued
31 MARCH 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2023 and were signed on its behalf by:




G M Pearce - Director



N A Thomas - Director


PEARCELEGAL LIMITED (REGISTERED NUMBER: 05409815)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Pearcelegal Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Work in progress
Work in progress is valued on the basis of selling price of services provided, not invoiced in the year.

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 is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-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.

PEARCELEGAL LIMITED (REGISTERED NUMBER: 05409815)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Going concern
The company is dependent upon the financial support of a directors of the company. The directors have confirmed that this support will continue for a period of not less than twelve months from the date of approval of these financial statements so that the company can continue to meet is liabilities as they fall due.

Accordingly, the directors have adopted the going concern basis for the preparation of these financial statements.

Pensions
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 seperate 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 22 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022 10,000 71,714 10,753 92,467
Additions - 3,351 3,220 6,571
At 31 March 2023 10,000 75,065 13,973 99,038
DEPRECIATION
At 1 April 2022 8,000 62,189 7,921 78,110
Charge for year 2,000 6,700 1,260 9,960
At 31 March 2023 10,000 68,889 9,181 88,070
NET BOOK VALUE
At 31 March 2023 - 6,176 4,792 10,968
At 31 March 2022 2,000 9,525 2,832 14,357

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 134,393 127,557
Other debtors 167,953 116,015
302,346 243,572

PEARCELEGAL LIMITED (REGISTERED NUMBER: 05409815)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,884 10,000
Trade creditors 52,968 79,094
Taxation and social security 106,515 108,390
Other creditors 128,832 114,278
298,199 311,762

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 22,500 31,667
Other creditors - 15,914
22,500 47,581

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 53,645 65,545
Between one and five years 41,378 85,290
95,023 150,835

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
N A Thomas
Balance outstanding at start of year 32,753 27,303
Amounts advanced 92,139 50,915
Amounts repaid (60,000 ) (45,465 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 64,892 32,753

PEARCELEGAL LIMITED (REGISTERED NUMBER: 05409815)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

G M Pearce
Balance outstanding at start of year 25,452 2,528
Amounts advanced 67,527 67,769
Amounts repaid (60,000 ) (44,845 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 32,979 25,452

Loans to directors are interest bearing, unsecured and with no fixed repayment date.