Company registration number 09674122 (England and Wales)
COMPLETE FAMILY LAW LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
COMPLETE FAMILY LAW LIMITED
CONTENTS
Page
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
COMPLETE FAMILY LAW LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 JULY 2023
- 1 -
2023
2022
£
£
Turnover
824,017
710,185
Cost of sales
(162,716)
(166,221)
Gross profit
661,301
543,964
Administrative expenses
(595,725)
(498,110)
Other operating income
219
Operating profit
65,576
46,073
Interest receivable and similar income
1,243
300
Interest payable and similar expenses
(7,199)
(2,497)
Profit before taxation
59,620
43,876
Tax on profit
(12,293)
(9,173)
Profit for the financial year
47,327
34,703
The profit and loss account has been prepared on the basis that all operations are continuing operations.
COMPLETE FAMILY LAW LIMITED
BALANCE SHEET
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
12,954
13,927
Current assets
Debtors
5
204,864
205,847
Cash at bank and in hand
14,212
10,035
219,076
215,882
Creditors: amounts falling due within one year
6
(137,177)
(133,293)
Net current assets
81,899
82,589
Total assets less current liabilities
94,853
96,516
Creditors: amounts falling due after more than one year
7
(23,747)
(27,688)
Provisions for liabilities
(3,238)
(3,481)
Net assets
67,868
65,347
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
67,768
65,247
Total equity
67,868
65,347
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
COMPLETE FAMILY LAW LIMITED
BALANCE SHEET (CONTINUED)
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 8 February 2024
Miss C Rosser-Davies
Director
Company Registration No. 09674122
COMPLETE FAMILY LAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 4 -
1
Accounting policies
Company information
Complete Family Law Limited is a private company limited by shares incorporated in England and Wales. The registered office is Kings Arms House, High Street, Brasted, Westerham, England, TN16 1JA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements have been prepared under the historic cost convention.
The financial statements are presented in Sterling (£) which is also the functional currency for the company.
1.2
Going concern
Accounting standards require the director to consider the appropriateness of the going concern basis when preparing the financial statements. The company is being supported by bank loans and amounts owed to the director. The director has confirmed that whilst the amount due to her is repayable on demand she will not demand repayment at the detriment to the company. The director confirms that she considers the going concern basis remains appropriate. true
1.3
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, valued added tax and other sales taxes.
1.4
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
33% on straight line
Computers
33% on 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.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Taxation
Taxation for the year comprised 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
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.
COMPLETE FAMILY LAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 5 -
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 timing differences.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
2
Judgements and key sources of estimation uncertainty
The preparation of financial statements requires management to make judgements, estimates and assumptions about the carrying value of assets and liabilities, that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on continuing basis. Revisions to accounting estimates are recognised in the period which the estimates is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Critical judgements
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
Bad Debts
Debtors are regularly reviewed for recoverability, any debts which in the opinion of management are not recoverable are provided for as a specific bad debt.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
12
10
COMPLETE FAMILY LAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 6 -
4
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 August 2022
1,150
18,072
19,222
Additions
583
4,632
5,215
At 31 July 2023
1,733
22,704
24,437
Depreciation and impairment
At 1 August 2022
128
5,167
5,295
Depreciation charged in the year
561
5,627
6,188
At 31 July 2023
689
10,794
11,483
Carrying amount
At 31 July 2023
1,044
11,910
12,954
At 31 July 2022
1,022
12,905
13,927
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
81,332
70,059
Other debtors
123,532
135,788
204,864
205,847
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
8,934
28,142
Trade creditors
19,159
6,654
Taxation and social security
43,377
45,473
Other creditors
65,707
53,024
137,177
133,293
During the year ended 31 July 2022 the company received a loan totalling £20,000, interest is recognised evenly over the duration of the loan and it is repayable within 6 months. The total amount due is included within bank loans in notes 7.
During the year ended 31 July 2021 the company received a bounce back loan totalling £35,000. interest is charged on this loan at 2.5% and it is repayable over 6 years. The total amount due is included within bank loans in notes 7 and 8.
COMPLETE FAMILY LAW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 7 -
7
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
23,747
27,688
Amounts included above which fall due after five years are as follows:
Payable by instalments
(8,976)
(12,809)
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
9
Related party transactions
During the year amounts were invoiced to Complete Family Law Limited from CJRD Property Limited, a company under common control and management, totalling £51,158 of this amount £41,634 was for rental charges and £9,524 was for utilities. As at 31 July 2023 the company was owed £107,883 (2022: £128,483) by CJRD Property Limited. No interest was charged on the loan and it is repayable on demand.
10
Directors' transactions
Dividends totalling £44,806 (2022: 49,354) were paid in the year in respect of shares held by the company's directors.