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REGISTERED NUMBER: 04627736 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

X-Press Legal Services (Franchising)
Limited

X-Press Legal Services (Franchising)
Limited (Registered number: 04627736)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


X-Press Legal Services (Franchising)
Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: D Lister
Mrs L Lister
C Lister
R Lister
Miss H Lister





SECRETARY: D Lister





REGISTERED OFFICE: Unit 7 Olympic Park
Olympic Way
Warrington
Cheshire.
WA2 0YL





REGISTERED NUMBER: 04627736 (England and Wales)





ACCOUNTANTS: Nick Brajkovich Limited
Chartered Accountants
29 Withers Avenue
Warrington
Cheshire
WA2 8EU

X-Press Legal Services (Franchising)
Limited (Registered number: 04627736)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 65,372 120,926
Tangible assets 5 1,487 1,829
66,859 122,755

CURRENT ASSETS
Debtors 6 893,710 802,008
Cash at bank 605,558 750,343
1,499,268 1,552,351
CREDITORS
Amounts falling due within one year 7 164,225 265,577
NET CURRENT ASSETS 1,335,043 1,286,774
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,401,902

1,409,529

CREDITORS
Amounts falling due after more than one
year

8

19,160

24,545
NET ASSETS 1,382,742 1,384,984

CAPITAL AND RESERVES
Called up share capital 85 85
Capital redemption reserve 15 15
Retained earnings 1,382,642 1,384,884
SHAREHOLDERS' FUNDS 1,382,742 1,384,984

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

X-Press Legal Services (Franchising)
Limited (Registered number: 04627736)

Balance Sheet - continued
31 July 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 March 2024 and were signed on its behalf by:




D Lister - Director



Mrs L Lister - Director


X-Press Legal Services (Franchising)
Limited (Registered number: 04627736)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

X-Press Legal Services (Franchising) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

R & D are being amortised evenly over their estimated useful life of five years.

Research and development
The company has built a bespoke case management system with an integrated online ordering system.

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 - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

X-Press Legal Services (Franchising)
Limited (Registered number: 04627736)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

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 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
R & D
£   
COST
At 1 August 2022 610,781
Additions 81,715
At 31 July 2023 692,496
AMORTISATION
At 1 August 2022 489,855
Amortisation for year 137,269
At 31 July 2023 627,124
NET BOOK VALUE
At 31 July 2023 65,372
At 31 July 2022 120,926

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 August 2022
and 31 July 2023 16,312 680 16,992
DEPRECIATION
At 1 August 2022 14,484 679 15,163
Charge for year 342 - 342
At 31 July 2023 14,826 679 15,505
NET BOOK VALUE
At 31 July 2023 1,486 1 1,487
At 31 July 2022 1,828 1 1,829

X-Press Legal Services (Franchising)
Limited (Registered number: 04627736)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

6. DEBTORS
31.7.23 31.7.22
£    £   
Amounts falling due within one year:
Trade debtors 146,939 146,825
Other debtors 278,340 269,217
425,279 416,042

Amounts falling due after more than one year:
Amounts owed by participating interests 421,202 343,834
Other debtors 47,229 42,132
468,431 385,966

Aggregate amounts 893,710 802,008

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 19,985 9,640
Trade creditors 60,319 69,903
Taxation and social security 41,904 124,307
Other creditors 42,017 61,727
164,225 265,577

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 19,160 24,545

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2023 and 31 July 2022:

31.7.23 31.7.22
£    £   
D Lister
Balance outstanding at start of year 117,530 104,886
Amounts advanced 7,254 12,644
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 124,784 117,530

X-Press Legal Services (Franchising)
Limited (Registered number: 04627736)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

C Lister
Balance outstanding at start of year 56,977 53,937
Amounts advanced 3,089 3,040
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 60,066 56,977

Mrs L Lister
Balance outstanding at start of year 7,797 7,797
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,797 7,797