Registered number
12257165
WILDAN LEGAL SOLICITORS LTD
Unaudited Filleted Accounts
31 October 2023
WILDAN LEGAL SOLICITORS LTD
Registered number: 12257165
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 4,348 4,786
Current assets
Debtors 4 46,582 30,007
Cash at bank and in hand 1,009,035 245,695
1,055,617 275,702
Creditors: amounts falling due within one year 5 (1,025,687) (271,268)
Net current assets 29,930 4,434
Total assets less current liabilities 34,278 9,220
Creditors: amounts falling due after more than one year 6 (33,448) (34,296)
Net assets/(liabilities) 830 (25,076)
Capital and reserves
Called up share capital 100 100
Profit and loss account 730 (25,176)
Shareholders' funds 830 (25,076)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mohammad SALIM
Director
Approved by the board on 20 February 2024
WILDAN LEGAL SOLICITORS LTD
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 18 14
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022 8,228
Additions 649
At 31 October 2023 8,877
Depreciation
At 1 November 2022 3,442
Charge for the year 1,087
At 31 October 2023 4,529
Net book value
At 31 October 2023 4,348
At 31 October 2022 4,786
4 Debtors 2023 2022
£ £
Trade debtors 15,384 9,840
Prepayments - Rent in advance 11,100 20,167
Other debtors 20,098 -
46,582 30,007
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations to Client Accounts 961,771 224,626
Trade creditors - 17,252
Taxation and social security costs 60,916 19,107
Others Creaditors/DCA 3,000 10,283
1,025,687 271,268
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 23,515 34,296
Other creditors 9,933 -
33,448 34,296
7 Controlling party
Mohammad Salim is the person with significant control as he holds 75% or more ordinary shares nad voting rights and right to appoint and remove directors.
8 Other information
WILDAN LEGAL SOLICITORS LTD is a private company limited by shares and incorporated in England. Its registered office is:
2-12 Cambridge Heath Road
London
E1 5QH
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