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COMPANY REGISTRATION NUMBER: 07171586
Julian Taylor Solicitors Ltd
Filleted Unaudited Financial Statements
31 March 2023
Julian Taylor Solicitors Ltd
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
13,109
8,183
Current assets
Debtors
7
285,328
149,609
Cash at bank and in hand
66,595
144,647
---------
---------
351,923
294,256
Creditors: amounts falling due within one year
8
157,709
137,111
---------
---------
Net current assets
194,214
157,145
---------
---------
Total assets less current liabilities
207,323
165,328
---------
---------
Net assets
207,323
165,328
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
207,223
165,228
---------
---------
Shareholders funds
207,323
165,328
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 13 October 2023 , and are signed on behalf of the board by:
Mr J M Taylor
Director
Company registration number: 07171586
Julian Taylor Solicitors Ltd
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Office, 6 St Mary’s Road, East Claydon, Buckingham, Buckinghamshire, MK18 2LX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements 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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
14% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% reducing balance
Equipment
-
25% reducing balance
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2022: 5 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
424,649
---------
Amortisation
At 1 April 2022 and 31 March 2023
424,649
---------
Carrying amount
At 31 March 2023
---------
At 31 March 2022
---------
6. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 April 2022
4,225
26,418
30,643
Additions
7,380
7,380
-------
--------
--------
At 31 March 2023
4,225
33,798
38,023
-------
--------
--------
Depreciation
At 1 April 2022
3,832
18,628
22,460
Charge for the year
98
2,356
2,454
-------
--------
--------
At 31 March 2023
3,930
20,984
24,914
-------
--------
--------
Carrying amount
At 31 March 2023
295
12,814
13,109
-------
--------
--------
At 31 March 2022
393
7,790
8,183
-------
--------
--------
7. Debtors
2023
2022
£
£
Trade debtors
275,235
140,741
Other debtors
10,093
8,868
---------
---------
285,328
149,609
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
12,892
5,939
Corporation tax
66,231
60,379
Social security and other taxes
74,251
54,356
Other creditors
4,335
16,437
---------
---------
157,709
137,111
---------
---------