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REGISTERED NUMBER: SC666291 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

LEGAL LOOP LIMITED

LEGAL LOOP LIMITED (REGISTERED NUMBER: SC666291)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LEGAL LOOP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: D D Stillie





REGISTERED OFFICE: 6 Burns Statue Square
Ayr
Ayrshire
KA7 1UP





REGISTERED NUMBER: SC666291 (Scotland)





ACCOUNTANTS: Henry Brown & Co
Chartered Accountants
26 Portland Road
Kilmarnock
Ayrshire
KA1 2EB

LEGAL LOOP LIMITED (REGISTERED NUMBER: SC666291)

BALANCE SHEET
31 MARCH 2023

Notes £    £   
FIXED ASSETS
Investments 4 102,000

CURRENT ASSETS
Debtors 5 42,475
Cash in hand 8,591
51,066
CREDITORS
Amounts falling due within one year 6 153,065
NET CURRENT LIABILITIES (101,999 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1

CAPITAL AND RESERVES
Called up share capital 1
1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 June 2023 and were signed by:





D D Stillie - Director


LEGAL LOOP LIMITED (REGISTERED NUMBER: SC666291)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Legal Loop Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Legal Loop Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

LEGAL LOOP LIMITED (REGISTERED NUMBER: SC666291)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022 100,000
Additions 2,000
At 31 March 2023 102,000
NET BOOK VALUE
At 31 March 2023 102,000
At 31 March 2022 100,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 42,475

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Amounts owed to participating interests 129,275
Taxation and social security 23,790
153,065

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 March 2023:

£   
D D Stillie
Balance outstanding at start of year -
Amounts advanced 42,475
Amounts repaid -
Amounts written off -
Amounts waived -
Balance outstanding at end of year 42,475

The loan is interest free with no fixed terms of repayment.

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £64,525 were paid to the director .

During the year the company provided consultancy fee in the sum of £80,000 (2022- £45,750) to a wholly owned subsidiary Wallace Hodge & Co Limited, a company registered in Scotland and with a common director, D D Stillie. The company also received a loan from Wallace Hodge & Co Limited, the amount outstanding at the balance sheet date was £129,275 (2022 - £nil).

The controlling party is D D Stillie.

The ultimate controlling party is D D Stillie.