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REGISTERED NUMBER: 10733296 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 30 September 2023

for

Kingsway Solicitors Ltd

Kingsway Solicitors Ltd (Registered number: 10733296)






Contents of the Financial Statements
for the year ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Kingsway Solicitors Ltd

Company Information
for the year ended 30 September 2023







DIRECTOR: Ms S S Soni





REGISTERED OFFICE: 163 Kingsway
Manchester
M19 2ND





REGISTERED NUMBER: 10733296 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Limited
Chartered Accountants
St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE

Kingsway Solicitors Ltd (Registered number: 10733296)

Balance Sheet
30 September 2023

2023 2022
Notes £ £
FIXED ASSETS
Tangible assets 4 7,381 8,154

CURRENT ASSETS
Debtors 5 289,144 175,987
Cash at bank and in hand 6 119,112 147,738
408,256 323,725
CREDITORS
Amounts falling due within one year 7 (245,734 ) (165,709 )
NET CURRENT ASSETS 162,522 158,016
TOTAL ASSETS LESS CURRENT
LIABILITIES

169,903

166,170

CREDITORS
Amounts falling due after more than one year 8 (20,833 ) (31,667 )
NET ASSETS 149,070 134,503

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 149,069 134,502
149,070 134,503

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 February 2024 and were signed by:





Ms S S Soni - Director


Kingsway Solicitors Ltd (Registered number: 10733296)

Notes to the Financial Statements
for the year ended 30 September 2023

1. STATUTORY INFORMATION

Kingsway Solicitors Ltd 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 amounts chargeable to clients for professional services provided during the year, inclusive of direct expenses incurred on client assignments but excluding value added tax. Turnover is recognised when a right to consideration has been obtained through performance under each contract. Consideration accrues as contract activity progresses by reference to the value of work performed.

Turnover is not recognised where the right to receive payment is contingent on events outside the control of the company. Unbilled revenue is included in accrued income.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and Fittings 10% straight line
Computers 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Kingsway Solicitors Ltd (Registered number: 10733296)

Notes to the Financial Statements - continued
for the year ended 30 September 2023

2. ACCOUNTING POLICIES - continued

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed

Share capital
Ordinary shares are classed as equity.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Distributions to equity holders
Dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the company's shareholders. These amounts are recognised in the statement of changes in equity.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Operating Leases
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 October 2022 30,753
Additions 1,765
Disposals (14,646 )
At 30 September 2023 17,872
DEPRECIATION
At 1 October 2022 22,599
Charge for year 2,538
Eliminated on disposal (14,646 )
At 30 September 2023 10,491
NET BOOK VALUE
At 30 September 2023 7,381
At 30 September 2022 8,154

Kingsway Solicitors Ltd (Registered number: 10733296)

Notes to the Financial Statements - continued
for the year ended 30 September 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 248,674 149,693
Other debtors 40,470 26,294
289,144 175,987

6. CASH AT BANK AND IN HAND
2023 2022
£ £
Current account 5,426 47,494
Reserve account 113,609 100,167
Cash in hand 77 77
119,112 147,738

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 10,000 9,167
Trade creditors 209,817 137,397
Taxation and social security 19,424 12,817
Other creditors 6,493 6,328
245,734 165,709

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Bank loans 20,833 31,667

9. ULTIMATE CONTROLLING PARTY

The controlling party is Ms S S Soni.