TAJ SOLICITORS LIMITED 06534438 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of a legal practice. Digita Accounts Production Advanced 6.30.9574.0 true true 06534438 2022-04-01 2023-03-31 06534438 2023-03-31 06534438 bus:OrdinaryShareClass1 2023-03-31 06534438 bus:OrdinaryShareClass2 2023-03-31 06534438 bus:OrdinaryShareClass3 2023-03-31 06534438 bus:OrdinaryShareClass4 2023-03-31 06534438 core:CurrentFinancialInstruments 2023-03-31 06534438 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06534438 core:Non-currentFinancialInstruments 2023-03-31 06534438 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 06534438 core:FurnitureFittingsToolsEquipment 2023-03-31 06534438 core:LandBuildings 2023-03-31 06534438 bus:SmallEntities 2022-04-01 2023-03-31 06534438 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 06534438 bus:FullAccounts 2022-04-01 2023-03-31 06534438 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 06534438 bus:RegisteredOffice 2022-04-01 2023-03-31 06534438 bus:Director1 2022-04-01 2023-03-31 06534438 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 06534438 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 06534438 bus:OrdinaryShareClass3 2022-04-01 2023-03-31 06534438 bus:OrdinaryShareClass4 2022-04-01 2023-03-31 06534438 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06534438 core:Goodwill 2022-04-01 2023-03-31 06534438 core:FurnitureFittings 2022-04-01 2023-03-31 06534438 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 06534438 core:LandBuildings 2022-04-01 2023-03-31 06534438 core:LeaseholdImprovements 2022-04-01 2023-03-31 06534438 core:OfficeEquipment 2022-04-01 2023-03-31 06534438 core:OtherRelatedParties 2022-04-01 2023-03-31 06534438 countries:AllCountries 2022-04-01 2023-03-31 06534438 2022-03-31 06534438 core:FurnitureFittingsToolsEquipment 2022-03-31 06534438 core:LandBuildings 2022-03-31 06534438 2021-04-01 2022-03-31 06534438 2022-03-31 06534438 bus:OrdinaryShareClass1 2022-03-31 06534438 bus:OrdinaryShareClass2 2022-03-31 06534438 bus:OrdinaryShareClass3 2022-03-31 06534438 bus:OrdinaryShareClass4 2022-03-31 06534438 core:CurrentFinancialInstruments 2022-03-31 06534438 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 06534438 core:Non-currentFinancialInstruments 2022-03-31 06534438 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 06534438 core:FurnitureFittingsToolsEquipment 2022-03-31 06534438 core:LandBuildings 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06534438

TAJ SOLICITORS LIMITED

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

TAJ SOLICITORS LIMITED

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

TAJ SOLICITORS LIMITED

Company Information

Director

Mr Taj Uddin Shah

Registered office

243-247 East India Dock Road
Poplar
London
Greater London
E14 0EG

 

TAJ SOLICITORS LIMITED

(Registration number: 06534438)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

727,710

729,715

Current assets

 

Debtors

5

-

86,665

Cash at bank and in hand

 

6,788

9,869

 

6,788

96,534

Creditors: Amounts falling due within one year

6

(189,547)

(173,274)

Net current liabilities

 

(182,759)

(76,740)

Total assets less current liabilities

 

544,951

652,975

Creditors: Amounts falling due after more than one year

6

(386,072)

(417,544)

Net assets

 

158,879

235,431

Capital and reserves

 

Called up share capital

7

103

103

Retained earnings

158,776

235,328

Shareholders' funds

 

158,879

235,431

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 September 2023
 

.........................................
Mr Taj Uddin Shah
Director

 

TAJ SOLICITORS LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
243-247 East India Dock Road
Poplar
London
Greater London
E14 0EG

These financial statements were authorised for issue by the director on 29 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

TAJ SOLICITORS LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold Improvements

3.5% Straight Line

Fixtures & Fittings

25 % Reducing Balance

Office equipment

25% Reducing Balance

Amortisation

Asset class

Amortisation method and rate

Goodwill

10% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

TAJ SOLICITORS LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 31 (2022 - 22).

 

TAJ SOLICITORS LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

730,065

189,779

919,844

Additions

2,708

8,570

11,278

At 31 March 2023

732,773

198,349

931,122

Depreciation

At 1 April 2022

25,598

164,531

190,129

Charge for the year

6,083

7,200

13,283

At 31 March 2023

31,681

171,731

203,412

Carrying amount

At 31 March 2023

701,092

26,618

727,710

At 31 March 2022

704,467

25,248

729,715

Included within the net book value of land and buildings above is £558,968 (2022 - £558,968) in respect of freehold land and buildings and £142,125 (2022 - £145,499) in respect of long leasehold land and buildings.
 

5

Debtors

Current

2023
£

2022
£

Prepayments

-

7,500

Other debtors

-

79,165

 

TAJ SOLICITORS LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

131,834

37,899

Trade creditors

 

(2,352)

(2,363)

Taxation and social security

 

39,969

119,786

Accruals and deferred income

 

18,766

16,820

Other creditors

 

1,330

1,132

 

189,547

173,274

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

386,072

417,544

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

A Ordinary Shares of £1 each

1

1

1

1

B Ordinary Shares of £1 each

1

1

1

1

C Ordinary Shares of £1 each

1

1

1

1

 

103

103

103

103

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

386,072

417,544

 

TAJ SOLICITORS LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

2023
£

2022
£

Current loans and borrowings

Bank borrowings

33,625

33,625

Bank overdrafts

98,209

4,274

131,834

37,899

9

Related party transactions

 

TAJ SOLICITORS LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

18,000

18,000

Summary of transactions with other related parties

Transactions with director
 At the balance sheet date, the director owed the company £Nil (2022: £79,165)