64 false false false false false false false false false false true false false false false true false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 08133693 2022-04-01 2023-03-31 08133693 2023-03-31 08133693 2022-03-31 08133693 2021-04-01 2022-03-31 08133693 2022-03-31 08133693 2021-03-31 08133693 core:FurnitureFittings 2022-04-01 2023-03-31 08133693 core:NetGoodwill 2022-04-01 2023-03-31 08133693 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 08133693 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 08133693 bus:OrdinaryShareClass3 2022-04-01 2023-03-31 08133693 bus:OrdinaryShareClass4 2022-04-01 2023-03-31 08133693 bus:OrdinaryShareClass5 2022-04-01 2023-03-31 08133693 bus:Director7 2022-04-01 2023-03-31 08133693 core:WithinOneYear 2023-03-31 08133693 core:WithinOneYear 2022-03-31 08133693 core:AfterOneYear 2023-03-31 08133693 core:AfterOneYear 2022-03-31 08133693 core:ShareCapital 2023-03-31 08133693 core:ShareCapital 2022-03-31 08133693 core:OtherReservesSubtotal 2023-03-31 08133693 core:OtherReservesSubtotal 2022-03-31 08133693 core:RetainedEarningsAccumulatedLosses 2023-03-31 08133693 core:RetainedEarningsAccumulatedLosses 2022-03-31 08133693 core:BetweenOneFiveYears 2023-03-31 08133693 core:BetweenOneFiveYears 2022-03-31 08133693 bus:SmallEntities 2022-04-01 2023-03-31 08133693 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08133693 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 08133693 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08133693 bus:AbridgedAccounts 2022-04-01 2023-03-31 08133693 bus:OrdinaryShareClass1 2023-03-31 08133693 bus:OrdinaryShareClass1 2022-03-31 08133693 bus:OrdinaryShareClass2 2023-03-31 08133693 bus:OrdinaryShareClass2 2022-03-31 08133693 bus:OrdinaryShareClass3 2023-03-31 08133693 bus:OrdinaryShareClass3 2022-03-31 08133693 bus:OrdinaryShareClass4 2023-03-31 08133693 bus:OrdinaryShareClass4 2022-03-31 08133693 bus:OrdinaryShareClass5 2023-03-31 08133693 bus:OrdinaryShareClass5 2022-03-31 08133693 bus:AllOrdinaryShares 2023-03-31 08133693 bus:AllOrdinaryShares 2022-03-31 08133693 core:LandBuildings core:LongLeaseholdAssets 2022-04-01 2023-03-31 08133693 core:ComputerEquipment 2022-04-01 2023-03-31
COMPANY REGISTRATION NUMBER: 08133693
BRM Law Limited
Filleted Unaudited Abridged Financial Statements
31 March 2023
BRM Law Limited
Abridged Financial Statements
Year Ended 31 March 2023
Contents
Pages
Abridged statement of financial position
1 to 2
Notes to the abridged financial statements
3 to 7
BRM Law Limited
Abridged Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed Assets
Intangible assets
5
150,000
450,000
Tangible assets
6
272,710
314,826
---------
---------
422,710
764,826
Current Assets
Debtors
2,761,897
2,242,611
Cash at bank and in hand
698
178,064
------------
------------
2,762,595
2,420,675
Creditors: amounts falling due within one year
1,727,261
1,865,113
------------
------------
Net Current Assets
1,035,334
555,562
------------
------------
Total Assets Less Current Liabilities
1,458,044
1,320,388
Creditors: amounts falling due after more than one year
89,614
217,708
Provisions
Taxation including deferred tax
53,300
51,381
------------
------------
Net Assets
1,315,130
1,051,299
------------
------------
Capital and Reserves
Called up share capital
7
1,006
1,006
Other reserves
2
2
Profit and loss account
1,314,122
1,050,291
------------
------------
Shareholders Funds
1,315,130
1,051,299
------------
------------
These abridged 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 abridged statement of comprehensive income 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
BRM Law Limited
Abridged Statement of Financial Position (continued)
31 March 2023
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 24 October 2023 , and are signed on behalf of the board by:
S R Rowland
Director
Company registration number: 08133693
BRM Law Limited
Notes to the Abridged 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 99 Saltergate, Chesterfield, Derbyshire, S40 1LD.
2. Statement of compliance
These abridged 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
Company information and basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Fee income represents revenue earned from the normal activities of the firm, exclusive of Value Added Tax. Revenue is recognised when the company has a right to consideration in exchange for the performance of its duties. The right to consideration is determined by the terms and conditions of the firm which form the contract under which the services are provided. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients less a suitable allowance to recognise the uncertainties remaining in the completion of the obligations. Contingent income is recognised only when the contingent element is assured.
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.
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
-
10 years 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.
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:
Leasehold improvements
-
4-10% straight line
Fixtures and fittings
-
10% straight line
Computers and equipment
-
15-20% straight line
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.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 64 (2022: 60 ).
5. Intangible assets
£
Cost
At 1 April 2022 and 31 March 2023
3,000,000
------------
Amortisation
At 1 April 2022
2,550,000
Charge for the year
300,000
------------
At 31 March 2023
2,850,000
------------
Carrying amount
At 31 March 2023
150,000
------------
At 31 March 2022
450,000
------------
6. Tangible assets
£
Cost
At 1 April 2022
756,052
Additions
25,123
---------
At 31 March 2023
781,175
---------
Depreciation
At 1 April 2022
441,226
Charge for the year
67,239
---------
At 31 March 2023
508,465
---------
Carrying amount
At 31 March 2023
272,710
---------
At 31 March 2022
314,826
---------
7. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
1,000
1,000
1,000
1,000
Ordinary A shares of £ 1 each
1
1
1
1
Ordinary B shares of £ 1 each
1
1
1
1
Ordinary C shares of £ 1 each
1
1
1
1
Ordinary D shares of £ 1 each
1
1
1
1
Ordinary E shares of £1 each
1
1
1
1
Ordinary F shares of £1 each
1
1
1
1
-------
-------
-------
-------
1,006
1,006
1,006
1,006
-------
-------
-------
-------
8. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
149,552
228,202
Later than 1 year and not later than 5 years
608,827
468,922
---------
---------
758,379
697,124
---------
---------
9. Related party transactions
The directors have loaned the company amounts totalling £201,234 (2022: £288,386) at the year end. The loans are interest free.