REGISTERED NUMBER: |
PUDSEY LEGAL SERVICES LTD |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
29 SEPTEMBER 2021 TO 28 MARCH 2023 |
REGISTERED NUMBER: |
PUDSEY LEGAL SERVICES LTD |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
29 SEPTEMBER 2021 TO 28 MARCH 2023 |
PUDSEY LEGAL SERVICES LTD (REGISTERED NUMBER: 07865032) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 29 SEPTEMBER 2021 TO 28 MARCH 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
PUDSEY LEGAL SERVICES LTD |
COMPANY INFORMATION |
FOR THE PERIOD 29 SEPTEMBER 2021 TO 28 MARCH 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
PUDSEY LEGAL SERVICES LTD (REGISTERED NUMBER: 07865032) |
BALANCE SHEET |
28 MARCH 2023 |
2023 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Work in progress |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET (LIABILITIES)/ASSETS | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Loan instruments |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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. |
PUDSEY LEGAL SERVICES LTD (REGISTERED NUMBER: 07865032) |
BALANCE SHEET - continued |
28 MARCH 2023 |
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 |
PUDSEY LEGAL SERVICES LTD (REGISTERED NUMBER: 07865032) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 29 SEPTEMBER 2021 TO 28 MARCH 2023 |
1. | STATUTORY INFORMATION |
Pudsey Legal Services Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest pound. |
The accounts have been prepared on the going concern basis due to the ongoing support from its directors. |
Turnover |
Turnover represents net invoiced fees, excluding value added tax, together with amounts due under contract. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, has been fully amortised. |
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 |
Fixtures and fittings | - |
Computer equipment | - |
Government grants |
The company received government grants in respect of coronavirus support. These grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the performance model. |
Stocks |
Work in progress is valued at the lower of cost and net realisable vale. |
PUDSEY LEGAL SERVICES LTD (REGISTERED NUMBER: 07865032) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 29 SEPTEMBER 2021 TO 28 MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. |
Financial assets and liabilities are initially measured at transaction price, except for those financial assets classified as at fair value through profit or loss. |
Basic financial instruments |
Basic financial instruments are those with relatively straight forward terms and would normally include cash, bank balances, trade debtors, trade creditors and uncomplicated bank loans. |
Where the arrangement does not constitute a financing transaction, e.g. trade debtors on normal commercial terms, the debtor will be valued initially at transaction price (i.e.cost) and subsequently at transaction price less impairment (if any) due to concerns over recoverability. |
Taxation |
Taxation for the period 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 period 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 period was |
PUDSEY LEGAL SERVICES LTD (REGISTERED NUMBER: 07865032) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 29 SEPTEMBER 2021 TO 28 MARCH 2023 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 29 September 2021 |
and 28 March 2023 |
AMORTISATION |
At 29 September 2021 |
and 28 March 2023 |
NET BOOK VALUE |
At 28 March 2023 |
At 28 September 2021 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 29 September 2021 |
and 28 March 2023 |
DEPRECIATION |
At 29 September 2021 |
Charge for period |
At 28 March 2023 |
NET BOOK VALUE |
At 28 March 2023 |
At 28 September 2021 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2021 |
£ | £ |
Trade debtors |
Amounts recoverable on contract |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2021 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
PUDSEY LEGAL SERVICES LTD (REGISTERED NUMBER: 07865032) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 29 SEPTEMBER 2021 TO 28 MARCH 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2021 |
£ | £ |
Bank loans |
Other creditors |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2021 |
£ | £ |
Within one year |
Between one and five years |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the periods ended 28 March 2023 and 28 September 2021: |
2023 | 2021 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
11. | COVID-19 |
Government grant income shown in the profit and loss account is as follows: |
28.3.23 | 28.9.21 |
£ | £ |
Coronavirus job retention scheme | - | 20,649 |
Interest on Bounce back loan | - | 1,250 |
- | 21,899 |