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Registration number: 09428051

BGW Law Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

BGW Law Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

BGW Law Limited

Company Information

Directors

D Nash

E A M Stoodley

V Hoskins

Company secretary

D Nash

Registered office

57 High Street
Shepton Mallet
Somerset
BA4 5AQ

Accountants

Burton Sweet Limited
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

 

BGW Law Limited

(Registration number: 09428051)
Balance Sheet
30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

29,870

34,591

Current assets

 

Work in progress

5

262,703

271,344

Debtors

6

344,072

370,534

Cash at bank and in hand

 

194,820

268,146

 

801,595

910,024

Creditors: Amounts falling due within one year

7

(492,411)

(552,250)

Net current assets

 

309,184

357,774

Total assets less current liabilities

 

339,054

392,365

Creditors: Amounts falling due after more than one year

7

(79,167)

(129,167)

Provisions for liabilities

(4,699)

(4,231)

Net assets

 

255,188

258,967

Capital and reserves

 

Called up share capital

500

500

Retained earnings

254,688

258,467

Shareholders' funds

 

255,188

258,967

 

BGW Law Limited

(Registration number: 09428051)
Balance Sheet
30 September 2023

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

Approved and authorised by the Board on 29 January 2024 and signed on its behalf by:
 



D Nash
Director



E A M Stoodley
Director



V Hoskins
Director

     
 

BGW Law Limited

Notes to the Unaudited Financial Statements
Year Ended 30 September 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:
57 High Street
Shepton Mallet
Somerset
BA4 5AQ

These financial statements were authorised for issue by the Board on 29 January 2024.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

Tax

The tax expense for the period comprises current tax and is recognised in profit or loss.

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.

 

BGW Law Limited

Notes to the Unaudited Financial Statements
Year Ended 30 September 2023

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

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% on reducing balance

Computer equipment

25% on straight line

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business and are recognised initially at the transaction price.

Work in progress

Work in progress is calculated at the value of unbilled work undertaken at the year end.

Borrowings

Interest-bearing borrowings are recorded at fair value, net of transaction costs. Interest expense is recognised on the basis of the interest rate and is included in interest payable and similar charges.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

BGW Law Limited

Notes to the Unaudited Financial Statements
Year Ended 30 September 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 28 (2022 - 33).

4

Tangible assets

Fixtures and fittings
£

Computer equipment
£

Total
£

Cost or valuation

At 1 October 2022

11,391

65,147

76,538

Additions

-

14,367

14,367

Disposals

-

(6,521)

(6,521)

At 30 September 2023

11,391

72,993

84,384

Depreciation

At 1 October 2022

6,837

35,110

41,947

Charge for the year

683

18,405

19,088

Eliminated on disposal

-

(6,521)

(6,521)

At 30 September 2023

7,520

46,994

54,514

Carrying amount

At 30 September 2023

3,871

25,999

29,870

At 30 September 2022

4,554

30,037

34,591

 

BGW Law Limited

Notes to the Unaudited Financial Statements
Year Ended 30 September 2023

5

Work in progress

2023
£

2022
£

Other inventories

262,703

271,344

 

BGW Law Limited

Notes to the Unaudited Financial Statements
Year Ended 30 September 2023

6

Debtors

2023
£

2022
£

Trade debtors

129,113

154,760

Amounts owed by group undertakings

45,525

43,931

Prepayments

164,463

171,843

Other debtors

4,971

-

344,072

370,534

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

50,000

50,000

Trade creditors

 

18,848

10,327

Taxation and social security

 

139,986

179,576

Other creditors

 

283,577

312,347

 

492,411

552,250

Due after one year

 

Loans and borrowings

8

79,167

129,167

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

79,167

129,167

2023
£

2022
£

Current loans and borrowings

Bank borrowings

50,000

50,000

 

BGW Law Limited

Notes to the Unaudited Financial Statements
Year Ended 30 September 2023

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2022 - £25,956).