Caseware UK (AP4) 2022.0.179 2022.0.179 2021-11-01falseSolicitors76truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11633457 2021-11-01 2022-10-31 11633457 2020-11-01 2021-10-31 11633457 2022-10-31 11633457 2021-10-31 11633457 c:Director1 2021-11-01 2022-10-31 11633457 d:ComputerEquipment 2021-11-01 2022-10-31 11633457 d:ComputerEquipment 2022-10-31 11633457 d:ComputerEquipment 2021-10-31 11633457 d:ComputerEquipment d:OwnedOrFreeholdAssets 2021-11-01 2022-10-31 11633457 d:CurrentFinancialInstruments 2022-10-31 11633457 d:CurrentFinancialInstruments 2021-10-31 11633457 d:Non-currentFinancialInstruments 2022-10-31 11633457 d:Non-currentFinancialInstruments 2021-10-31 11633457 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 11633457 d:CurrentFinancialInstruments d:WithinOneYear 2021-10-31 11633457 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 11633457 d:Non-currentFinancialInstruments d:AfterOneYear 2021-10-31 11633457 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-10-31 11633457 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-10-31 11633457 d:ShareCapital 2022-10-31 11633457 d:ShareCapital 2021-10-31 11633457 d:RetainedEarningsAccumulatedLosses 2021-11-01 2022-10-31 11633457 d:RetainedEarningsAccumulatedLosses 2022-10-31 11633457 d:RetainedEarningsAccumulatedLosses 2021-10-31 11633457 c:OrdinaryShareClass1 2021-11-01 2022-10-31 11633457 c:OrdinaryShareClass1 2022-10-31 11633457 c:OrdinaryShareClass1 2021-10-31 11633457 c:FRS102 2021-11-01 2022-10-31 11633457 c:AuditExempt-NoAccountantsReport 2021-11-01 2022-10-31 11633457 c:FullAccounts 2021-11-01 2022-10-31 11633457 c:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31 11633457 d:WithinOneYear 2022-10-31 11633457 d:BetweenOneFiveYears 2022-10-31 11633457 2 2021-11-01 2022-10-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11633457










Qore Legal Ltd.








Unaudited

Financial statements

For the year ended 31 October 2022

 
Qore Legal Ltd.
Registered number: 11633457

Balance sheet
As at 31 October 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,938
2,398

  
5,938
2,398

Current assets
  

Debtors: amounts falling due within one year
 5 
280,607
236,049

Cash at bank and in hand
  
70,717
107,441

  
351,324
343,490

Creditors: amounts falling due within one year
 6 
(175,700)
(229,583)

Net current assets
  
 
 
175,624
 
 
113,907

Total assets less current liabilities
  
181,562
116,305

Creditors: amounts falling due after more than one year
 7 
(13,716)
(18,499)

  

Net assets
  
167,846
97,806


Capital and reserves
  

Called up share capital 
 9 
2
2

Profit and loss account
  
167,844
97,804

  
167,846
97,806


Page 1

 
Qore Legal Ltd.
Registered number: 11633457

Balance sheet (continued)
As at 31 October 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J B Hendry
Director
Date: 26 October 2023

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 
Qore Legal Ltd.
 

Statement of changes in equity
For the year ended 31 October 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 November 2021
2
97,804
97,806



Profit for the year

-
130,040
130,040

Dividends: Equity capital
-
(60,000)
(60,000)


At 31 October 2022
2
167,844
167,846


The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
Qore Legal Ltd.
 

 
Notes to the financial statements
For the year ended 31 October 2022

1.


General information

Qore Legal Ltd. is a private limited company incorporated on 22 October 2018, and domiciled in England & Wales. The address of its registered office is Salisbury House, 29 Finsbury Circus, London, England, EC2M 5QQ.
The principle activity of the company in the year under review was the provision of legal services. 
The financial statements are presented in GBP rounded to the nearest whole pound.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
Qore Legal Ltd.
 

 
Notes to the financial statements
For the year ended 31 October 2022

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

  
2.7

Financial Instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
Qore Legal Ltd.
 

 
Notes to the financial statements
For the year ended 31 October 2022

2.Accounting policies (continued)

 
2.11

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.12

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.13

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.14

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.15

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2021 - 6).

Page 6

 
Qore Legal Ltd.
 

 
Notes to the financial statements
For the year ended 31 October 2022

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 November 2021
3,609


Additions
4,725



At 31 October 2022

8,334



Depreciation


At 1 November 2021
1,211


Charge for the year on owned assets
1,185



At 31 October 2022

2,396



Net book value



At 31 October 2022
5,938


5.


Debtors

2022
2021
£
£


Trade debtors
209,234
187,661

Other debtors
2,493
7,647

Prepayments and accrued income
68,880
40,741

280,607
236,049



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
5,324
5,324

Trade creditors
62,153
7,807

Corporation tax
30,064
32,513

Other taxation and social security
39,293
55,902

Other creditors
780
3,980

Accruals and deferred income
38,086
124,057

175,700
229,583


Page 7

 
Qore Legal Ltd.
 

 
Notes to the financial statements
For the year ended 31 October 2022

7.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
13,716
18,499



8.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
5,324
5,324

Amounts falling due 1-2 years

Bank loans
13,716
18,499



19,040
23,823



9.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



1 (2021 - 1) Ordinary share of £2.00
2
2



10.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £29,949. Contributions totalling £780 were payable to the fund at the balance sheet date.


11.


Commitments under operating leases

At 31 October 2022 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2022
£


Not later than 1 year
1,660

Later than 1 year and not later than 5 years
-

1,660

Page 8

 
Qore Legal Ltd.
 

 
Notes to the financial statements
For the year ended 31 October 2022

12.


Related party transactions

During the year, Qore Legal Ltd. operated loan accounts with its the directors J B Hendry and L L Zheng.   As at the year end, J B Hendry and L L Zheng were owed (-£5) (2021:(-£5)) and £Nil (2021: £3,243) respectively.
During the year, Qore Legal Ltd. loaned Shanghai Huice Business Consultancy Ltd £Nil, a company which L L Zheng holds 45% control. At the Balance Sheet date, Qore Legal Ltd. was owed £Nil in respect of this loan. The loan is non interest bearing. 


13.


Controlling party

The company is under the control of its director shareholders J B Hendry and L L Zheng. 


Page 9