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REGISTERED NUMBER: 11592958 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 September 2023

for

Charltons Solicitors Limited

Charltons Solicitors Limited (Registered number: 11592958)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Charltons Solicitors Limited (Registered number: 11592958)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 80,378 96,454
Tangible assets 5 9,381 10,492
89,759 106,946

CURRENT ASSETS
Debtors 6 132,901 105,674
Cash at bank and in hand 191,786 308,313
324,687 413,987
CREDITORS
Amounts falling due within one year 7 147,655 262,931
NET CURRENT ASSETS 177,032 151,056
TOTAL ASSETS LESS CURRENT LIABILITIES 266,791 258,002

CREDITORS
Amounts falling due after more than one year 8 (17,500 ) (27,500 )

PROVISIONS FOR LIABILITIES (2,345 ) (1,993 )
NET ASSETS 246,946 228,509

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 246,746 228,309
SHAREHOLDERS' FUNDS 246,946 228,509

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Charltons Solicitors Limited (Registered number: 11592958)

Balance Sheet - continued
30 September 2023


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 March 2024 and were signed on its behalf by:




J Farrow - Director



Mrs S Farrow - Director


Charltons Solicitors Limited (Registered number: 11592958)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Charltons Solicitors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11592958

Registered office: Saracen House
84 High Street
Biddulph
Stoke-On-Trent
Staffordshire
ST8 6AS

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue for services represents the fair value of legal services provided during the year on client assignments. Fair value reflects the amount expected to be recoverable from clients and is based on time spent, expertise and skills provided and expenses incurred. Revenue is stated net of Value Added Tax.

Legal services provided to clients during the year which at the balance sheet date, have not been invoiced to clients have been recognised as fee income in accordance with Section 23 Revenue of Financial Reporting Standard 102. Fee income is recognised in this manner is based on an assessment of the fair value of services provided by the balance sheet date as a proportion of the total value of the engagement.

Unbilled fee income is included as "unbilled revenue" within debtors. Such income is stated at fair value where the right to consideration has been obtained.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

The 10 year period of write off has been decided as being appropriate by the directors.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on reducing balance
Computer equipment - Straight line over 3 years

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 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.


Charltons Solicitors Limited (Registered number: 11592958)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued
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 the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 160,757
AMORTISATION
At 1 October 2022 64,303
Amortisation for year 16,076
At 30 September 2023 80,379
NET BOOK VALUE
At 30 September 2023 80,378
At 30 September 2022 96,454

Charltons Solicitors Limited (Registered number: 11592958)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 October 2022 6,735 15,341 22,076
Additions - 3,195 3,195
At 30 September 2023 6,735 18,536 25,271
DEPRECIATION
At 1 October 2022 1,590 9,994 11,584
Charge for year 514 3,792 4,306
At 30 September 2023 2,104 13,786 15,890
NET BOOK VALUE
At 30 September 2023 4,631 4,750 9,381
At 30 September 2022 5,145 5,347 10,492

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 51,175 31,254
Other debtors 81,726 74,420
132,901 105,674

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 55 132
Taxation and social security 117,424 122,739
Other creditors 20,176 130,060
147,655 262,931

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 17,500 27,500

9. FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £64,476 (2022 £85,968). This financial commitment represents the total amount of payments remaining on a lease ending in 2026.