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REGISTERED NUMBER: 05189793 (England and Wales)




















LEGAL BROKERS LIMITED

Unaudited Financial Statements

for the Year Ended 31 July 2023






LEGAL BROKERS LIMITED (REGISTERED NUMBER: 05189793)






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


LEGAL BROKERS LIMITED

Company Information
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: J Hilton





REGISTERED OFFICE: 3 Turton Road
Tottington
Bury
BL8 4AW





REGISTERED NUMBER: 05189793 (England and Wales)





ACCOUNTANTS: SCCA Limited T/a Stafford & Co
Chartered Accountants
3 The Studios
320 Chorley Old Road
Bolton
Lancashire
BL1 4JU

LEGAL BROKERS LIMITED (REGISTERED NUMBER: 05189793)

Balance Sheet
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,305 -
Tangible assets 5 4,409 54,919
Investments 6 302 302
Investment property 7 272,067 524,949
285,083 580,170

CURRENT ASSETS
Debtors 8 127,252 186,467
Cash at bank 94,705 209,748
221,957 396,215
CREDITORS
Amounts falling due within one year 9 233,630 279,837
NET CURRENT (LIABILITIES)/ASSETS (11,673 ) 116,378
TOTAL ASSETS LESS CURRENT
LIABILITIES

273,410

696,548

CREDITORS
Amounts falling due after more than one
year

10

83,332

129,239
NET ASSETS 190,078 567,309

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 190,077 567,308
SHAREHOLDERS' FUNDS 190,078 567,309

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 director acknowledges his 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.

LEGAL BROKERS LIMITED (REGISTERED NUMBER: 05189793)

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 director and authorised for issue on 30 January 2024 and were signed by:





J Hilton - Director


LEGAL BROKERS LIMITED (REGISTERED NUMBER: 05189793)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Legal Brokers 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the accounting policies, the directors' are required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover
Turnover represents the invoice value, net of value added tax, of services provided during the year.

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.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% reducing balance and 15% reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Cryptocurrency
Cryptocurrency is initially measured at cost. After initial recognition, cryptocurrency is measured at cost less any accumulated amortisation and any accumulated impairment losses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 11 ) .

LEGAL BROKERS LIMITED (REGISTERED NUMBER: 05189793)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 August 2022 34,111
Additions 9,449
At 31 July 2023 43,560
AMORTISATION
At 1 August 2022 34,111
Charge for year 1,144
At 31 July 2023 35,255
NET BOOK VALUE
At 31 July 2023 8,305
At 31 July 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 70,255
Additions 891
Disposals (60,000 )
At 31 July 2023 11,146
DEPRECIATION
At 1 August 2022 15,336
Charge for year 3,401
Eliminated on disposal (12,000 )
At 31 July 2023 6,737
NET BOOK VALUE
At 31 July 2023 4,409
At 31 July 2022 54,919

LEGAL BROKERS LIMITED (REGISTERED NUMBER: 05189793)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2023

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 August 2022
and 31 July 2023 302
NET BOOK VALUE
At 31 July 2023 302
At 31 July 2022 302

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022 524,949
Additions 225,000
Disposals (477,882 )
At 31 July 2023 272,067
NET BOOK VALUE
At 31 July 2023 272,067
At 31 July 2022 524,949

The Director is of the opinion that the fair value of Investment Properties is not materially different than the net book value.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 86,977 149,256
Amounts owed by group undertakings 38,081 37,000
Other debtors 2,194 211
127,252 186,467

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 39,573 39,275
Trade creditors 127,259 155,733
Taxation and social security 47,890 72,391
Other creditors 18,908 12,438
233,630 279,837

LEGAL BROKERS LIMITED (REGISTERED NUMBER: 05189793)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2023

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 83,332 129,239

11. ULTIMATE CONTROLLING PARTY

Legal Brokers Group Ltd is regarded by the director as being the ultimate parent company.

The company is ultimately controlled by Mr J Hilton who is the controlling party of the ultimate holding company Legal Brokers Group Ltd.