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REGISTERED NUMBER: 07457288 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

LIDDYS SOLICITORS LIMITED

LIDDYS SOLICITORS LIMITED (REGISTERED NUMBER: 07457288)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LIDDYS SOLICITORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: A Abbasi
M Aldridge
N Cantrell
D M Harwood
N M Khalil
K M Liddy
Mrs J Liddy





REGISTERED OFFICE: 2 King Street
Wakefield
West Yorkshire
WF1 2SQ





REGISTERED NUMBER: 07457288 (England and Wales)





ACCOUNTANTS: Gibson Booth Limited
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB

LIDDYS SOLICITORS LIMITED (REGISTERED NUMBER: 07457288)

BALANCE SHEET
31 JANUARY 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 60,000 144,000
Tangible assets 5 38,190 16,088
98,190 160,088

CURRENT ASSETS
Debtors 6 1,729,935 964,469
Cash at bank and in hand 513,540 950,892
2,243,475 1,915,361
CREDITORS
Amounts falling due within one year 7 284,577 353,216
NET CURRENT ASSETS 1,958,898 1,562,145
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,057,088

1,722,233

PROVISIONS FOR LIABILITIES 7,108 3,057
NET ASSETS 2,049,980 1,719,176

CAPITAL AND RESERVES
Called up share capital 9 400 400
Retained earnings 2,049,580 1,718,776
SHAREHOLDERS' FUNDS 2,049,980 1,719,176

LIDDYS SOLICITORS LIMITED (REGISTERED NUMBER: 07457288)

BALANCE SHEET - continued
31 JANUARY 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

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 15 September 2023 and were signed on its behalf by:





K M Liddy - Director


LIDDYS SOLICITORS LIMITED (REGISTERED NUMBER: 07457288)

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

1. STATUTORY INFORMATION

Liddys Solicitors 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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.

Significant judgements and estimates
No significant judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

LIDDYS SOLICITORS LIMITED (REGISTERED NUMBER: 07457288)

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

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, net of VAT and discounts.

When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.

When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses are recoverable.

A proportion of fees earned for work performed by the firm is contingent upon the successful completion of a case. Where the substance of a contract is such that a right to consideration does not arise until the occurrence of a contingent event, the asset and revenue are not recognised. The contingent event which determines the right to consideration is considered to be the point at which the case is settled.

No costs in respect of unrecognised income on contingent fees are carried forward.

Goodwill
Goodwill, being the amount paid in connection with a historical acquisition of a business, is being amortised over its estimated useful life of 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Leasehold property improvements20% straight line
Fixture and Fittings33% straight line
Computer equipment33% straight line


LIDDYS SOLICITORS LIMITED (REGISTERED NUMBER: 07457288)

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

2. ACCOUNTING POLICIES - continued
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.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 17 ) .

LIDDYS SOLICITORS LIMITED (REGISTERED NUMBER: 07457288)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 600,000
AMORTISATION
At 1 February 2022 456,000
Charge for year 84,000
At 31 January 2023 540,000
NET BOOK VALUE
At 31 January 2023 60,000
At 31 January 2022 144,000

5. TANGIBLE FIXED ASSETS
Fixtures
Long and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 February 2022 3,890 9,998 71,287 85,175
Additions - 11,292 24,186 35,478
At 31 January 2023 3,890 21,290 95,473 120,653
DEPRECIATION
At 1 February 2022 2,334 7,075 59,678 69,087
Charge for year 778 3,825 8,773 13,376
At 31 January 2023 3,112 10,900 68,451 82,463
NET BOOK VALUE
At 31 January 2023 778 10,390 27,022 38,190
At 31 January 2022 1,556 2,923 11,609 16,088

LIDDYS SOLICITORS LIMITED (REGISTERED NUMBER: 07457288)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 412,567 372,405
Amounts recoverable on
contracts 942,757 240,944
Other debtors 295,320 312,969
Directors' current accounts 58,561 19,624
Prepayments and accrued income 20,730 18,527
1,729,935 964,469

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade creditors (1,707 ) 19,160
Corporation tax 152,898 125,592
Social security and other taxes 9,766 8,745
VAT 15,641 69,417
Other creditors 1,471 2,841
Directors' current accounts 2,234 1,297
Accruals and deferred income 104,274 126,164
284,577 353,216

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.1.23 31.1.22
£    £   
Within one year 34,667 34,667
Between one and five years 34,667 69,333
69,334 104,000

LIDDYS SOLICITORS LIMITED (REGISTERED NUMBER: 07457288)

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

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
300 Ordinary £1 300 300
100 Ordinary B £1 100 100
400 400

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2023 and 31 January 2022:

31.1.23 31.1.22
£    £   
K M Liddy
Balance outstanding at start of year 19,624 (15,405 )
Amounts advanced 137,927 116,621
Amounts repaid (98,990 ) (81,592 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 58,561 19,624

11. RELATED PARTY DISCLOSURES

Other related parties:


31.01.2331.01.22
££
Expenses paid on behalf of related party12,25014,635
Loan repayments30,000Nil
Amounts due (to)/from related party294,485312,235