Registered number |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2022 | 2021 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Intangible assets | 3 | ||||||
Current assets | |||||||
Work in progress | - | ||||||
Debtors | 4 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 5 | ( |
( |
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Net current assets/(liabilities) | ( |
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Total assets less current liabilities | ( |
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Creditors: amounts falling due after more than one year | 6 | ( |
- | ||||
Net liabilities | ( |
( |
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Capital and reserves | |||||||
Called up share capital | |||||||
Profit and loss account | ( |
( |
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Shareholders' deficit | ( |
( |
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- | - | ||||||
Approved by the board on |
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M J Lee | |||||||
Director | |||||||
Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
Turnover | ||||||||
Intangible fixed assets - Software Licenses | ||||||||
Debtors | ||||||||
Creditors | ||||||||
Taxation | ||||||||
Provisions | ||||||||
Going concern | ||||||||
COVID-19 is not expected to have a significant impact on the entity. Management expects that COVID-19 might have some impact, though not significant, for example in relation to expected future performance and the life cycle of some cases. However, at the date of approving these financial statements, the company is still in the process of establishing itself in the market and generating income from the marketing activity undertaken to date. The company has built up a database of clients which the company is confident will generate leads, and subsequent claims from which the company earns its income. The company has a loan facility which is in the process of being repaid, and for which negotiations are ongoing to formalise a repayment plan. Facilities have been agreed with another lender which will fund the company’s activity going forward and further informal facilities have been agreed with a separate funder. The directors have prepared projections which incorporate their assumptions as to the income that can be achieved, the costs that will be incurred and the cash inflows/outflows from financing. Whilst the directors believe that the company will be able to continue to operate and meet its obligations over the next 12 months, this will depend upon the company achieving the income, agreeing repayment terms with the lenders, and being able to draw down funds from the agreed facility. Based on the above, the directors believe that it remains appropriate to prepare the financial statements on a going concern basis. |
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Judgements and key sources of estimation uncertainty | ||||||||
In the course of preparing the financial statements, no judgements have been made in the process of applying the company's accounting policies, other than those involving estimations that have had a significant effect on the amounts recognised in the financial statements. In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
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Pensions | ||||||||
2 | Employees | 2022 | 2021 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
3 | Intangible fixed assets | £ | ||||||
Software Licenses: | ||||||||
Cost | ||||||||
At 1 January 2022 | ||||||||
Additions | ||||||||
At 31 December 2022 | ||||||||
Amortisation | ||||||||
At 1 January 2022 | ||||||||
Provided during the year | ||||||||
At 31 December 2022 | ||||||||
Net book value | ||||||||
At 31 December 2022 | ||||||||
At 31 December 2021 | ||||||||
Software Licenses are being written off in equal annual instalments over their estimated economic life of 4 years. | ||||||||
4 | Debtors | 2022 | 2021 | |||||
£ | £ | |||||||
Trade debtors | ||||||||
Other debtors | ||||||||
5 | Creditors: amounts falling due within one year | 2022 | 2021 | |||||
£ | £ | |||||||
Trade creditors | ||||||||
Taxation and social security costs | ||||||||
Other creditors | ||||||||
6 | Creditors: amounts falling due after one year | 2022 | 2021 | |||||
£ | £ | |||||||
Other creditors | - | |||||||
7 | Pension commitments | |||||||
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss when due. | ||||||||
8 | Other information | |||||||
LEGAL UK SERVICES LTD is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
Lynnfield House | ||||||||
Church Street | ||||||||
Altrincham | ||||||||
Cheshire | ||||||||
WA14 4DZ |