Registered number
13176410
Albertson Solicitors Ltd
Accounts
For the period from 1 February 2022 to 30 April 2023
delivered to the Registrar of Companies under section 444 of the Companies Act 2006
Albertson Solicitors Ltd
Registered number: 13176410
Balance Sheet
As at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 39,242 -
Current assets
Debtors 5 437,926 -
Cash at bank 74,288 100
512,214 100
Creditors: amounts falling due within one year 6 (267,560) -
Net current assets 244,654 100
Total assets less current liabilities 283,896 100
Creditors: amounts falling due after one year 7 (14,496) -
Provision for deferred tax liabilities (9,811) -
Client funds
Client bank accounts 218,289 -
Amounts due to clients (218,289) -
Net assets 259,589 100
Capital and reserves
Share capital 8 100 100
Retained earnings 259,489 -
Shareholders funds 259,589 100
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The company has taken the option not to deliver a profit and loss account to the Registrar of Companies.
Peter Dovey
Director
Approved by the board on 20 October 2023
Albertson Solicitors Ltd
Notes to the Accounts
For the period from 1 February 2022 to 30 April 2023
1 Company information
The company is a private company limited by shares, incorporated in England and registered at 14 Old Square, Lincoln's Inn, London, WC2A 3EU.
2 Accounting policies
2.1 Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the Standard). The accounts cover a period of 15 months to achieve the company's preferred period-end date going forward and they are not comparable to the previous accounting period during which the company was dormant.
2.2 Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises revenue earned from the rendering of services. Turnover is recognised on completion of the service rendered.
2.3 Tangible assets
Tangible assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on tangible fixed assets at rates calculated to write off the cost less estimated residual value of each asset evenly over its expected useful life, as follows:
Equipment and fittings over 4 years
2.4 Debtors
Short term debtors are measured at transaction price less any impairment losses for bad and doubtful debts. Longer term loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.5 Creditors
Short term creditors are measured at transaction price. Longer term loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.6 Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the accounts and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
2.7 Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and loss account.
2.8 Provisions
Provisions and other liabilities of uncertain timing or amount are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be reliably estimated.
2.9 Foreign currency translation
The company's functional and presentation currency is Pound sterling ("£"). Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2.10 Pension contributions
Contributions to defined contribution plans are expensed in the period to which they relate.
3 Employees 2023 2022
Number Number
Average number of persons employed, including directors 6 1
4 Tangible assets
Equipment and fittings
£
Cost
Additions 52,331
At 30 April 2023 52,331
Depreciation
Charge for the period 13,089
At 30 April 2023 13,089
Net book value
At 30 April 2023 39,242
5 Debtors 2023 2022
£ £
Trade debtors 399,969 -
Other debtors 37,957 -
437,926 -
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans 6,390 -
Trade creditors 36,112 -
Taxation and social security 73,723 -
Other creditors 151,335 -
267,560 -
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 14,496 -
8 Share capital 2023 2022
£ £
Allotted, called up and fully paid:
100 Ordinary shares of £1 each 100 100
9 Financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases, held by Peter Dovey, director, on trust for the company 519,750 582,750
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