LAW 2419 Limited 13192911 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is the holding of and making investments. Digita Accounts Production Advanced 6.30.9574.0 true 13192911 2022-03-01 2023-02-28 13192911 2023-02-28 13192911 core:RetainedEarningsAccumulatedLosses 2023-02-28 13192911 core:ShareCapital 2023-02-28 13192911 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2023-02-28 13192911 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 13192911 bus:SmallEntities 2022-03-01 2023-02-28 13192911 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 13192911 bus:FullAccounts 2022-03-01 2023-02-28 13192911 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 13192911 bus:RegisteredOffice 2022-03-01 2023-02-28 13192911 bus:Director2 2022-03-01 2023-02-28 13192911 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 13192911 1 2022-03-01 2023-02-28 13192911 countries:EnglandWales 2022-03-01 2023-02-28 13192911 2021-02-10 2022-02-28 13192911 2022-02-28 13192911 core:RetainedEarningsAccumulatedLosses 2022-02-28 13192911 core:ShareCapital 2022-02-28 13192911 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 13192911

LAW 2419 Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

LAW 2419 Limited

(Registration number: 13192911)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Other financial assets

4

5,853,185

5,125,327

Current assets

 

Cash at bank and in hand

 

218,293

80,173

Creditors: Amounts falling due within one year

5

(8,065)

(3,996)

Net current assets

 

210,228

76,177

Total assets less current liabilities

 

6,063,413

5,201,504

Provisions for liabilities

(279,140)

(97,176)

Net assets

 

5,784,273

5,104,328

Capital and reserves

 

Called up share capital

6

4,736,626

4,736,626

Retained earnings

1,047,647

367,702

Shareholders' funds

 

5,784,273

5,104,328

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

LAW 2419 Limited

(Registration number: 13192911)
Balance Sheet as at 28 February 2023 (continued)

Approved and authorised by the director on 20 November 2023
 


Mr J R Paradise
Director

 

LAW 2419 Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
5 New Street Square
London
EC4A 3TW

These financial statements were authorised for issue by the director on 20 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Disclosure of long or short period

The previous financial statements cover the period from incorporation on 10 February 2021 to 28 February 2022, the current period covers the 12 months to 28 February 2023 therefore the amounts are not entirely comparable.

 

LAW 2419 Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

2

Accounting policies (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Investments

Investments in listed shares are valued at fair value and the gain or loss on this investment is recognised in the profit and loss account.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

LAW 2419 Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 1).

 

LAW 2419 Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

4

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Non-current financial assets

Cost or valuation

At 1 March 2022

5,125,327

Fair value adjustments

727,858

At 28 February 2023

5,853,185

Carrying amount

At 28 February 2023

5,853,185

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

2,340

-

Taxation and social security

1,278

1,656

Accruals and deferred income

2,796

2,340

Other creditors

1,651

-

8,065

3,996

 

LAW 2419 Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £0.01 each

473,662,562

4,736,626

473,662,562

4,736,626