Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30falsetrue2022-07-01solicitors1212trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06582666 2022-07-01 2023-06-30 06582666 2021-07-01 2022-06-30 06582666 2023-06-30 06582666 2022-06-30 06582666 2021-07-01 06582666 c:Director1 2022-07-01 2023-06-30 06582666 c:Director2 2022-07-01 2023-06-30 06582666 d:Buildings d:LongLeaseholdAssets 2022-07-01 2023-06-30 06582666 d:Buildings d:LongLeaseholdAssets 2023-06-30 06582666 d:Buildings d:LongLeaseholdAssets 2022-06-30 06582666 d:PlantMachinery 2022-07-01 2023-06-30 06582666 d:PlantMachinery 2023-06-30 06582666 d:PlantMachinery 2022-06-30 06582666 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 06582666 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 06582666 d:Goodwill 2023-06-30 06582666 d:Goodwill 2022-06-30 06582666 d:CurrentFinancialInstruments 2023-06-30 06582666 d:CurrentFinancialInstruments 2022-06-30 06582666 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 06582666 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 06582666 d:ShareCapital 2022-07-01 2023-06-30 06582666 d:ShareCapital 2023-06-30 06582666 d:ShareCapital 2021-07-01 2022-06-30 06582666 d:ShareCapital 2022-06-30 06582666 d:ShareCapital 2021-07-01 06582666 d:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 06582666 d:RetainedEarningsAccumulatedLosses 2023-06-30 06582666 d:RetainedEarningsAccumulatedLosses 2021-07-01 2022-06-30 06582666 d:RetainedEarningsAccumulatedLosses 2022-06-30 06582666 d:RetainedEarningsAccumulatedLosses 2021-07-01 06582666 c:FRS102 2022-07-01 2023-06-30 06582666 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 06582666 c:FullAccounts 2022-07-01 2023-06-30 06582666 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 06582666 2 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure
Registered number: 06582666


MB SOLICITORS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 JUNE 2023

 
MB SOLICITORS LIMITED
 

CONTENTS



Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 8

 
MB SOLICITORS LIMITED
REGISTERED NUMBER: 06582666

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,527
2,023

Current assets
  

Debtors: amounts falling due within one year
 6 
559,639
1,360,334

Cash at bank and in hand
  
527,380
367,680

  
1,087,019
1,728,014

Creditors: amounts falling due within one year
 7 
(358,715)
(485,593)

Net current assets
  
 
 
728,304
 
 
1,242,421

Total assets less current liabilities
  
729,831
1,244,444

  

Net assets
  
729,831
1,244,444


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
729,829
1,244,442

  
729,831
1,244,444


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

I R Hopkinson
C G Ingleby
Director
Director


Date: 4 March 2024
Date:4 March 2024

The notes on pages 3 to 8 form part of these financial statements.
Page 1

 
MB SOLICITORS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 July 2021
2
1,900,592
1,900,594


Comprehensive income for the year

Profit for the year

-
703,850
703,850
Total comprehensive income for the year
-
703,850
703,850


Contributions by and distributions to owners

Dividends: Equity capital
-
(1,360,000)
(1,360,000)


Total transactions with owners
-
(1,360,000)
(1,360,000)



At 1 July 2022
2
1,244,442
1,244,444


Comprehensive income for the year

Profit for the year

-
520,387
520,387
Total comprehensive income for the year
-
520,387
520,387


Contributions by and distributions to owners

Dividends: Equity capital
-
(1,035,000)
(1,035,000)


Total transactions with owners
-
(1,035,000)
(1,035,000)


At 30 June 2023
2
729,829
729,831


The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
MB SOLICITORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

MB Solicitors Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is given on the Company Information page of these financial statements.
The principal activity of the Company during the year was the provision of legal services. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
MB SOLICITORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
MB SOLICITORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
10% straight line
Plant and machinery
-
25% straight line or 33% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
Page 5

 
MB SOLICITORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)

third parties, loans to related parties and investments in ordinary shares.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Average number of employees
12
12


4.


Intangible assets




Goodwill

£



Cost


At 1 July 2022
1,250,000



At 30 June 2023

1,250,000



Amortisation


At 1 July 2022
1,250,000



At 30 June 2023

1,250,000



Net book value



At 30 June 2023
-



At 30 June 2022
-



Page 6

 
MB SOLICITORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Total

£
£
£



Cost


At 1 July 2022
8,996
56,511
65,507



At 30 June 2023

8,996
56,511
65,507



Depreciation


At 1 July 2022
8,996
54,488
63,484


Charge for the year on owned assets
-
496
496



At 30 June 2023

8,996
54,984
63,980



Net book value



At 30 June 2023
-
1,527
1,527



At 30 June 2022
-
2,023
2,023


6.


Debtors

2023
2022
£
£


Trade debtors
310,799
1,141,684

Prepayments and accrued income
247,279
218,645

Deferred taxation
1,561
5

559,639
1,360,334


Page 7

 
MB SOLICITORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
6,840
12,385

Corporation tax
135,809
165,370

Other taxation and social security
63,465
96,885

Other creditors
22,247
89,258

Accruals and deferred income
130,354
121,695

358,715
485,593



8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions paid by the Company to the fund, excluding directors, amounting to £9,315 (2022: £8,780). Contributions totalling £2,137 (2022: £1,775) were payable to the fund at the reporting date and are included in creditors.


9.


Related party transactions

At the year end, the directors were owed £20,110 (2022: £87,483) by the Company.
During the year the Company paid rent to the director's SIPP to a value of £52,500 (2022: £52,500). 


10.


Controlling party

The company is controlled by the directors.
 
Page 8