3 31/03/2023 2023-03-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-04-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 8948446 2022-04-01 2023-03-31 8948446 2023-03-31 8948446 2022-03-31 8948446 2021-04-01 2022-03-31 8948446 2022-03-31 8948446 core:NetGoodwill 2022-04-01 2023-03-31 8948446 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 8948446 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 8948446 bus:Director1 2022-04-01 2023-03-31 8948446 core:WithinOneYear 2023-03-31 8948446 core:WithinOneYear 2022-03-31 8948446 core:NetGoodwill 2023-03-31 8948446 core:FurnitureFittingsToolsEquipment 2022-03-31 8948446 core:FurnitureFittingsToolsEquipment 2023-03-31 8948446 core:ShareCapital 2023-03-31 8948446 core:ShareCapital 2022-03-31 8948446 core:RetainedEarningsAccumulatedLosses 2023-03-31 8948446 core:RetainedEarningsAccumulatedLosses 2022-03-31 8948446 bus:OrdinaryShareClass1 core:ShareCapital 2023-03-31 8948446 bus:OrdinaryShareClass1 core:ShareCapital 2022-03-31 8948446 core:NetGoodwill 2022-03-31 8948446 core:FurnitureFittingsToolsEquipment 2022-03-31 8948446 bus:SmallEntities 2022-04-01 2023-03-31 8948446 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 8948446 bus:FullAccounts 2022-04-01 2023-03-31 8948446 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 8948446 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31
Company registration number: 8948446
Williams Associates Costs Lawyers Limited
Unaudited filleted financial statements
31 March 2023
Williams Associates Costs Lawyers Limited
Contents
Balance sheet
Notes to the financial statements
Williams Associates Costs Lawyers Limited
Balance sheet
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 1,384 653
_______ _______
1,384 653
Current assets
Debtors 7 121,386 109,656
Cash at bank and in hand 59,567 54,430
_______ _______
180,953 164,086
Creditors: amounts falling due
within one year 8 ( 56,190) ( 51,790)
_______ _______
Net current assets 124,763 112,296
_______ _______
Total assets less current liabilities 126,147 112,949
_______ _______
Net assets 126,147 112,949
_______ _______
Capital and reserves
Called up share capital 9 100 100
Profit and loss account 126,047 112,849
_______ _______
Shareholders funds 126,147 112,949
_______ _______
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 18 December 2023 , and are signed on behalf of the board by:
Mr J L Williams
Director
Company registration number: 8948446
Williams Associates Costs Lawyers Limited
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in the United Kingdom. The address of the registered office is Williams Associates Costs Lawyers Limited, Clifton House, Four Elms Road, Cardiff, CF24 1LE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 20 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. All of the financial instruments applying to the company are basic as defied in the Accounting Standard, and as such are initially recognised at the transaction price. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 4 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 April 2022 and 31 March 2023 336,000 336,000
_______ _______
Amortisation
At 1 April 2022 and 31 March 2023 336,000 336,000
_______ _______
Carrying amount
At 31 March 2023 - -
_______ _______
At 31 March 2022 - -
_______ _______
6. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 April 2022 1,327 1,327
Additions 1,132 1,132
_______ _______
At 31 March 2023 2,459 2,459
_______ _______
Depreciation
At 1 April 2022 673 673
Charge for the year 402 402
_______ _______
At 31 March 2023 1,075 1,075
_______ _______
Carrying amount
At 31 March 2023 1,384 1,384
_______ _______
At 31 March 2022 654 654
_______ _______
7. Debtors
2023 2022
£ £
Trade debtors 120,394 108,236
Prepayments and accrued income 992 1,420
_______ _______
121,386 109,656
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Accruals and deferred income 4,408 2,258
Social security and other taxes 44,699 39,097
Director loan accounts 6,865 9,617
Other creditors 218 818
_______ _______
56,190 51,790
_______ _______
9. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______