Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31true2022-04-01falseNo description of principal activity22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08575344 2022-04-01 2023-03-31 08575344 2021-04-01 2022-03-31 08575344 2023-03-31 08575344 2022-03-31 08575344 2021-04-01 08575344 c:Director1 2022-04-01 2023-03-31 08575344 d:FurnitureFittings 2022-04-01 2023-03-31 08575344 d:FurnitureFittings 2023-03-31 08575344 d:FurnitureFittings 2022-03-31 08575344 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08575344 d:OfficeEquipment 2022-04-01 2023-03-31 08575344 d:OfficeEquipment 2023-03-31 08575344 d:OfficeEquipment 2022-03-31 08575344 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08575344 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08575344 d:CurrentFinancialInstruments 2023-03-31 08575344 d:CurrentFinancialInstruments 2022-03-31 08575344 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08575344 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 08575344 d:ShareCapital 2023-03-31 08575344 d:ShareCapital 2022-03-31 08575344 d:RetainedEarningsAccumulatedLosses 2023-03-31 08575344 d:RetainedEarningsAccumulatedLosses 2022-03-31 08575344 c:OrdinaryShareClass1 2022-04-01 2023-03-31 08575344 c:OrdinaryShareClass1 2023-03-31 08575344 c:OrdinaryShareClass1 2022-03-31 08575344 c:FRS102 2022-04-01 2023-03-31 08575344 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 08575344 c:FullAccounts 2022-04-01 2023-03-31 08575344 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08575344 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 08575344 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08575344










THE FRENCH LAW PRACTICE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023



 
THE FRENCH LAW PRACTICE LIMITED
REGISTERED NUMBER: 08575344

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,852
4,226

  
2,852
4,226

Debtors: amounts falling due within one year
 5 
31,929
16,744

Cash at bank and in hand
 6 
1,061,299
993,309

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(62,414)
(44,774)

Net current assets
  
 
 
1,030,814
 
 
965,279

Total assets less current liabilities
  
1,033,666
969,505

Provisions for liabilities
  

Deferred tax
 8 
(730)
(1,057)

  
 
 
(730)
 
 
(1,057)

Net assets
  
1,032,936
968,448


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
1,032,836
968,348

  
1,032,936
968,448


The director considers 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 director acknowledges her 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.
 
Page 1

 
THE FRENCH LAW PRACTICE LIMITED
REGISTERED NUMBER: 08575344

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023


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




C Cohen
Director

Date: 28 November 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
THE FRENCH LAW PRACTICE LIMITED
 

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

1.


General information

The French Law Practice Limited is a private company, limited by share capital and incorporated in England and Wales.
The Company's registered office and principal place of business is 58 Acacia Road, St John's Wood, London, NW8 6AG.

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 Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of services supplied during the year, exclusive of value added tax and trade discounts. 

 
2.3

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis.


Fixtures & fittings
-
15%
reducing balance
Office equipment
-
33%
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.

 
2.4

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.

 
2.5

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.

Page 3

 
THE FRENCH LAW PRACTICE LIMITED
 

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

2.Accounting policies (continued)

 
2.6

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.

 
2.7

Operating leases

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

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 4

 
THE FRENCH LAW PRACTICE LIMITED
 

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

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

 
2.11

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
THE FRENCH LAW PRACTICE LIMITED
 

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

4.


Tangible fixed assets





Fixtures & fittings
Computer equipment
Total

£
£
£



Cost 


At 1 April 2022
4,703
6,347
11,050


Additions
-
228
228



At 31 March 2023

4,703
6,575
11,278



Depreciation


At 1 April 2022
2,782
4,042
6,824


Charge for the year on owned assets
288
1,314
1,602



At 31 March 2023

3,070
5,356
8,426



Net book value



At 31 March 2023
1,633
1,219
2,852



At 31 March 2022
1,921
2,305
4,226


5.


Debtors

2023
2022
£
£

Trade debtors
24,660
9,500

Other debtors
1,730
1,730

Prepayments and accrued income
5,539
5,514

31,929
16,744



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,061,299
993,309


Page 6

 
THE FRENCH LAW PRACTICE LIMITED
 

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

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
32,313
20,467

Other taxation and social security
8,312
7,260

Other creditors
19,789
15,047

Accruals and deferred income
2,000
2,000

62,414
44,774



8.


Deferred taxation




2023
2022


£

£



At beginning of year
(1,057)
(868)


Charged to profit or loss
327
(189)



At end of year
(730)
(1,057)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(730)
(1,057)

(730)
(1,057)


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1 each
100
100


Page 7

 
THE FRENCH LAW PRACTICE LIMITED
 

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

10.


Related party transactions

As at 31 March 2023 the company owed £19,789 (2022: £15,047) to the director.
Dividends of  £72,000 (2022: £10,000) were paid to the director and shareholder during the year.


11.


Controlling party

The Company is controlled by its director.



Page 8