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Company No: 07584806 (England and Wales)

BEACON LEGAL LTD

Unaudited Financial Statements
For the financial year ended 31 August 2023
Pages for filing with the registrar

BEACON LEGAL LTD

Unaudited Financial Statements

For the financial year ended 31 August 2023

Contents

BEACON LEGAL LTD

COMPANY INFORMATION

For the financial year ended 31 August 2023
BEACON LEGAL LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 August 2023
DIRECTOR R N Gilbert
REGISTERED OFFICE 1 The Old Cattle Market
Helston
TR13 0SR
United Kingdom
COMPANY NUMBER 07584806 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
BEACON LEGAL LTD

BALANCE SHEET

As at 31 August 2023
BEACON LEGAL LTD

BALANCE SHEET (continued)

As at 31 August 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 4,446 5,478
4,446 5,478
Current assets
Stocks 113,827 73,988
Debtors 4 8,276 20,987
Cash at bank and in hand 68,106 39,595
190,209 134,570
Creditors: amounts falling due within one year 5 ( 35,893) ( 32,615)
Net current assets 154,316 101,955
Total assets less current liabilities 158,762 107,433
Net assets 158,762 107,433
Capital and reserves
Called-up share capital 1 1
Profit and loss account 158,761 107,432
Total shareholder's funds 158,762 107,433

For the financial year ending 31 August 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 financial statements of Beacon Legal Ltd (registered number: 07584806) were approved and authorised for issue by the Director on 15 February 2024. They were signed on its behalf by:

R N Gilbert
Director
BEACON LEGAL LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
BEACON LEGAL LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Beacon Legal Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 The Old Cattle Market, Helston, TR13 0SR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents amounts billed, net of value added tax, in respect of services provided to clients. Fee income includes accrued income valued on the basis of contractual terms relating to different income streams as adjusted for expected ultimate recoverability in accordance with Financial Reporting Standards.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery etc. 25 % reducing balance
4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 September 2022 1,690 11,250 12,940
Disposals 0 ( 1,017) ( 1,017)
At 31 August 2023 1,690 10,233 11,923
Accumulated depreciation
At 01 September 2022 0 7,462 7,462
Charge for the financial year 0 1,032 1,032
Disposals 0 ( 1,017) ( 1,017)
At 31 August 2023 0 7,477 7,477
Net book value
At 31 August 2023 1,690 2,756 4,446
At 31 August 2022 1,690 3,788 5,478

4. Debtors

2023 2022
£ £
Prepayments 4,425 10,610
Other debtors 3,851 10,377
8,276 20,987

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 1,146 563
Corporation tax 20,106 13,302
Other taxation and social security 9,363 10,573
Other creditors 5,278 8,177
35,893 32,615

6. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 720) ( 320)
Credited/(charged) to the Statement of Income and Retained Earnings 30 ( 400)
0 0
At the end of financial year ( 690) ( 720)

7. Financial commitments

Commitments

Capital commitments are as follows:

2023 2022
£ £
Contracted for but not provided for:
Other 13,331 13,331