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REGISTERED NUMBER: 05081176 (England and Wales)















Harris Paley Schone Limited

Unaudited Financial Statements for the Year Ended 31 July 2023






Harris Paley Schone Limited (Registered number: 05081176)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Harris Paley Schone Limited

Company Information
for the Year Ended 31 July 2023







DIRECTOR: Mr S Paley





REGISTERED OFFICE: Curtis House
34 Third Avenue
Hove
East Sussex
BN3 2PD





REGISTERED NUMBER: 05081176 (England and Wales)





ACCOUNTANTS: Swindells LLP
Chartered Accountants
Wilson House
48 Brooklyn Road
Seaford
East Sussex
BN25 2DX

Harris Paley Schone Limited (Registered number: 05081176)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,417 11,917
Tangible assets 5 3,566 2,076
9,983 13,993

CURRENT ASSETS
Debtors 6 28,862 16,289
Cash at bank and in hand 194,698 178,169
223,560 194,458
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

7

49,634

69,444
NET CURRENT ASSETS 173,926 125,014
TOTAL ASSETS LESS CURRENT
LIABILITIES

183,909

139,007

PROVISIONS FOR LIABILITIES 892 394
NET ASSETS 183,017 138,613

CAPITAL AND RESERVES
Called up share capital 8 120 120
Retained earnings 182,897 138,493
SHAREHOLDERS' FUNDS 183,017 138,613

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Harris Paley Schone Limited (Registered number: 05081176)

Balance Sheet - continued
31 July 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 November 2023 and were signed by:





Mr S Paley - Director


Harris Paley Schone Limited (Registered number: 05081176)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Harris Paley Schone Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents revenue, net of VAT, from commercial transactions under which the company provides the legal services to clients that it is in business to provide and it is recognised when it obtains, through performance under contract, the right to consideration for those services.

Goodwill
Positive goodwill was created on incorporation of a partnership in 2004, capitalised as an asset on the balance sheet and amortised on a straight line basis over its useful economic life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website costs are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Harris Paley Schone Limited (Registered number: 05081176)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Pension costs and other post-retirement benefits
The company contributes to a defined contribution pension scheme on behalf of employees. Contributions are recognised in the income statement in the period in which they become payable in accordance with the rules of the scheme.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Website
Goodwill costs Totals
£    £    £   
COST
At 1 August 2022
and 31 July 2023 110,000 3,725 113,725
AMORTISATION
At 1 August 2022 98,083 3,725 101,808
Amortisation for year 5,500 - 5,500
At 31 July 2023 103,583 3,725 107,308
NET BOOK VALUE
At 31 July 2023 6,417 - 6,417
At 31 July 2022 11,917 - 11,917

Harris Paley Schone Limited (Registered number: 05081176)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

5. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 August 2022 3,302
Additions 2,769
Disposals (1,037 )
At 31 July 2023 5,034
DEPRECIATION
At 1 August 2022 1,226
Charge for year 629
Eliminated on disposal (387 )
At 31 July 2023 1,468
NET BOOK VALUE
At 31 July 2023 3,566
At 31 July 2022 2,076

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 14,015 6,540
Other debtors 14,847 9,749
28,862 16,289

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,484 3,170
Taxation and social security 44,356 58,110
Other creditors 3,794 8,164
49,634 69,444

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
120 Ordinary £1 120 120

Harris Paley Schone Limited (Registered number: 05081176)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

9. OTHER FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £nil (2022 - £3,483).

10. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed the director £488 (2022 - £3,484). This loan is unsecured, interest free and repayable on demand.

During the year the company paid £61,500 in dividends to its director (2022 - £72,000).