Townsend Family Law Limited |
Registered Number:12899631 |
For the year ended 30 September 2023
England and Wales
Unaudited Financial Statements
For the year ended 30 September 2023
Townsend Family Law Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
Townsend Family Law Limited
Statement of Financial Position
2022
2023
63,750
67,500
2
Property, plant and equipment |
7,243
8,068
3
70,993
75,568
Trade and other receivables |
6,923
9,510
4
744,253
Cash and cash equivalents |
380,973
390,483
751,176
Trade and other payables: amounts falling due within one year |
(614,730)
(179,665)
5
136,446
210,818
Net current assets
Total assets less current liabilities |
281,811
212,014
Trade and other payables: amounts falling due after more than one |
year |
(14,219)
(3,297)
6
278,514
Net assets
197,795
100
100
278,414
197,695
278,514
197,795
Shareholders' funds
For the year ended 30 September 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges her responsibilities for:a) ensuring that the company keeps proper 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 Section 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
These financial statements were approved and authorised for issue by the Board on 05 October 2023 and were signed by: |
The notes form part of these financial statements |
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For the year ended 30 September 2023
Townsend Family Law Limited
Notes to the Financial Statements
Statutory Information
Townsend Family Law Limited is a private limited company, limited by shares, domiciled in England and Wales, registration |
number 12899631. |
171 Cleveland Way
Stevenage
Hertfordshire
SG1 6BX
The presentation currency is £ sterling. |
Townsend Family Law Limited is a private company, limited by shares, registered in England & Wales.
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard |
102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The |
financial statements have been prepared under the historical costs convention as modified by the revaluation of certain assets. |
Significant judgements and estimates
The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgments are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes. |
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of 20 years. |
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Office Equipment
Furniture and Fittings
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. |
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. |
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.
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For the year ended 30 September 2023
Townsend Family Law Limited
Notes to the Financial Statements Continued
2. Intangible fixed assets |
Goodwill
75,000
75,000
7,500
3,750
Charge for year
11,250
63,750
67,500
3. Property, plant and equipment |
14,160
9,875
4,285
1,591
1,591
-
4,285
11,466
15,751
Provision for depreciation and impairment |
6,092
4,320
1,772
Charge for year
2,416
1,787
629
8,508
6,107
2,401
1,884
5,359
7,243
2,513
5,555
8,068
4. Trade and other receivables |
2022
2023
5,060
6,845
Prepayments and accrued income |
9,027
7,199
(4,577)
(7,121)
6,923
9,510
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For the year ended 30 September 2023
Townsend Family Law Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year |
2022
2023
2,609
2,400
Taxation and social security |
65,562
65,558
Accruals and deferred income |
3,253
2,716
108,241
544,056
179,665
614,730
6. Trade and other payables: amounts falling due after more than one year |
2022
2023
3,297
14,219
7. Directors advances and guarantees |
Loaned
Repaid
Marion Foley
Unsecured Interest Free Loan
(4,578)
(7,121)
44,835
42,292
(4,578)
(7,121)
44,835
42,292
8. Guarantees and other financial commitments |
Other financial commitments |
During a prior period, the business secured an unrelated business as a going concern. Part of the consideration was deferred, |
such that £15996 remains due at period end, of which £12187 is current. |
At period end the business holds £96053 of client's funds in cash. The directors believe this amount will be fully expended or |
realisable in 12 months. |
9. Average number of persons employed |
During the year the average number of employees was 7 (2022 : 6)
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