Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-3052022-07-01falseBarristers at law6truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12692522 2022-07-01 2023-06-30 12692522 2021-07-01 2022-06-30 12692522 2023-06-30 12692522 2022-06-30 12692522 c:Director1 2022-07-01 2023-06-30 12692522 d:OfficeEquipment 2022-07-01 2023-06-30 12692522 d:OfficeEquipment 2023-06-30 12692522 d:OfficeEquipment 2022-06-30 12692522 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 12692522 d:ComputerEquipment 2022-07-01 2023-06-30 12692522 d:ComputerEquipment 2023-06-30 12692522 d:ComputerEquipment 2022-06-30 12692522 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 12692522 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 12692522 d:CurrentFinancialInstruments 2023-06-30 12692522 d:CurrentFinancialInstruments 2022-06-30 12692522 d:Non-currentFinancialInstruments 2023-06-30 12692522 d:Non-currentFinancialInstruments 2022-06-30 12692522 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 12692522 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 12692522 d:ShareCapital 2023-06-30 12692522 d:ShareCapital 2022-06-30 12692522 d:RetainedEarningsAccumulatedLosses 2023-06-30 12692522 d:RetainedEarningsAccumulatedLosses 2022-06-30 12692522 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 12692522 d:AcceleratedTaxDepreciationDeferredTax 2022-06-30 12692522 d:TaxLossesCarry-forwardsDeferredTax 2023-06-30 12692522 d:TaxLossesCarry-forwardsDeferredTax 2022-06-30 12692522 d:OtherDeferredTax 2023-06-30 12692522 d:OtherDeferredTax 2022-06-30 12692522 c:FRS102 2022-07-01 2023-06-30 12692522 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 12692522 c:FullAccounts 2022-07-01 2023-06-30 12692522 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 12692522 2 2022-07-01 2023-06-30 12692522 e:PoundSterling 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Registered number:  12692522














UNIT CHAMBERS LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


 
UNIT CHAMBERS LTD
REGISTERED NUMBER: 12692522

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,801
6,319

  
6,801
6,319

Current assets
  

Debtors: amounts falling due after more than one year
 5 
10,124
13,667

Debtors: amounts falling due within one year
 5 
55,857
14,441

Cash at bank and in hand
 6 
5,036
5,578

  
71,017
33,686

Creditors: amounts falling due within one year
 7 
(120,623)
(94,086)

Net current liabilities
  
 
 
(49,606)
 
 
(60,400)

Total assets less current liabilities
  
(42,805)
(54,081)

  

Net liabilities
  
(42,805)
(54,081)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(42,806)
(54,082)

  
(42,805)
(54,081)


Page 1

 
UNIT CHAMBERS LTD
REGISTERED NUMBER: 12692522
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 income and retained earnings 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: 


................................................
R J Draper
Director

Date: 3 March 2024

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

Page 2

 
UNIT CHAMBERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

The Company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England & Wales (no. 12692522). The registered office is 4th Floor Exchange Station, Tithebarn Street, Liverpool, Merseyside, England, L2 2QP.
These financial statements present information about the Company as an individual undertaking. The principal activity of the Company is that of a law chambers.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

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

 
2.4

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
UNIT CHAMBERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.5

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 balance sheet 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 balance sheet 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 balance sheet date.

 
2.6

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.

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:

Office equipment
-
20%
Straight line
Computer equipment
-
33%
Straight line

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.

 
2.7

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.

Page 4

 
UNIT CHAMBERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 5

 
UNIT CHAMBERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

3.


Employees

2023
2022
£
£

Wages and salaries
73,302
47,670

Social security costs
619
256

Cost of defined contribution scheme
1,123
568

75,044
48,494


The average monthly number of employees, including directors, during the year was 6 (2022 - 5).


4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 July 2022
1,355
8,210
9,565


Additions
691
3,348
4,039



At 30 June 2023

2,046
11,558
13,604



Depreciation


At 1 July 2022
475
2,771
3,246


Charge for the year on owned assets
369
3,188
3,557



At 30 June 2023

844
5,959
6,803



Net book value



At 30 June 2023
1,202
5,599
6,801



At 30 June 2022
880
5,439
6,319

Page 6

 
UNIT CHAMBERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Debtors

2023
2022
£
£

Due after more than one year

Deferred tax asset
10,124
13,667

10,124
13,667


2023
2022
£
£

Due within one year

Other debtors
15,035
711

Prepayments and accrued income
40,822
13,730

55,857
14,441



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
5,036
5,578

5,036
5,578



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
10,937
3,817

Other taxation and social security
7,224
4,130

Other creditors
95,134
82,738

Accruals and deferred income
7,328
3,401

120,623
94,086



8.


Deferred taxation

Page 7

 
UNIT CHAMBERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
 
8.Deferred taxation (continued)




2023


£






At beginning of year
13,667


Utilised in year
(3,543)



At end of year
10,124

The deferred tax asset is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(1,700)
(1,580)

Tax losses carried forward
11,322
14,953

Short term timing differences
502
294

10,124
13,667


9.


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 payable by the Company to the fund and amounted to £1,123 (2022 - £568). Contributions totalling £5,359 (2022 - £2,739)  were payable to the fund at the balance sheet date and are included in creditors.


10.


Controlling party

The Company is a wholly owned subsidiary of Domus Law Ltd whose registered office is at 4th Floor Exchange Station, Tithebarn Street, Liverpool, L2 2QP. As a small group Domus Law Ltd is exempt from producing consolidated financial statements. Domus Law Ltd is controlled by R J Draper and L E Edmunds.

 
Page 8