IRIS Accounts Production v23.3.1.45 07632908 director 1.6.22 31.5.23 31.5.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh076329082022-05-31076329082023-05-31076329082022-06-012023-05-31076329082021-05-31076329082021-06-012022-05-31076329082022-05-3107632908ns10:Originalns15:EnglandWales2022-06-012023-05-3107632908ns14:PoundSterlingns10:Original2022-06-012023-05-3107632908ns10:Originalns10:Director12022-06-012023-05-3107632908ns10:Original2022-06-012023-05-3107632908ns10:Original2023-05-3107632908ns10:Originalns10:PrivateLimitedCompanyLtd2022-06-012023-05-3107632908ns10:Originalns10:SmallEntities2022-06-012023-05-3107632908ns10:Originalns10:AuditExempt-NoAccountantsReport2022-06-012023-05-3107632908ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-3107632908ns10:SmallCompaniesRegimeForAccountsns10:Original2022-06-012023-05-3107632908ns10:Originalns10:FullAccounts2022-06-012023-05-3107632908ns10:Original12022-06-012023-05-3107632908ns10:Originalns10:RegisteredOffice2022-06-012023-05-3107632908ns10:Original2022-05-3107632908ns10:Originalns5:CurrentFinancialInstruments2023-05-3107632908ns10:Originalns5:CurrentFinancialInstruments2022-05-3107632908ns10:Originalns5:Non-currentFinancialInstruments2023-05-3107632908ns10:Originalns5:Non-currentFinancialInstruments2022-05-3107632908ns5:ShareCapitalns10:Original2023-05-3107632908ns5:ShareCapitalns10:Original2022-05-3107632908ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-05-3107632908ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-3107632908ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-06-012023-05-3107632908ns10:Original2021-06-012022-05-3107632908ns10:Originalns5:ComputerSoftware2022-05-3107632908ns10:Originalns5:ComputerSoftware2023-05-3107632908ns10:Originalns5:ComputerSoftware2022-05-3107632908ns10:Originalns5:ComputerEquipment2022-05-3107632908ns10:Originalns5:ComputerEquipment2022-06-012023-05-3107632908ns10:Originalns5:ComputerEquipment2023-05-3107632908ns10:Originalns5:ComputerEquipment2022-05-3107632908ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3107632908ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-05-3107632908ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-05-3107632908ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-05-3107632908ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-05-3107632908ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-05-3107632908ns10:Original1ns10:Director12022-05-3107632908ns10:Original1ns10:Director12021-05-3107632908ns10:Original1ns10:Director12022-06-012023-05-3107632908ns10:Original1ns10:Director12021-06-012022-05-3107632908ns10:Original1ns10:Director12023-05-3107632908ns10:Original1ns10:Director12022-05-31
REGISTERED NUMBER: 07632908 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

OLD VICARAGE ADVISORY LEGAL (KEMPSTON)
LIMITED

OLD VICARAGE ADVISORY LEGAL (KEMPSTON)
LIMITED (REGISTERED NUMBER: 07632908)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 May 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OLD VICARAGE ADVISORY LEGAL (KEMPSTON)
LIMITED

COMPANY INFORMATION
for the year ended 31 May 2023







DIRECTOR: P A Hillier





REGISTERED OFFICE: Winthorpe House
29 Church End
Biddenham
Bedford
Bedfordshire
MK40 4AR





REGISTERED NUMBER: 07632908 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Magma House
16 Davy Court
Castle Mound Way
Rugby
CV23 0UZ

OLD VICARAGE ADVISORY LEGAL (KEMPSTON)
LIMITED (REGISTERED NUMBER: 07632908)

BALANCE SHEET
31 May 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 - 773
- 773

CURRENT ASSETS
Debtors 6 58,644 133,526
Cash at bank and in hand 6,967 39,632
65,611 173,158
CREDITORS
Amounts falling due within one year 7 (16,875 ) (37,822 )
NET CURRENT ASSETS 48,736 135,336
TOTAL ASSETS LESS CURRENT
LIABILITIES

48,736

136,109

CREDITORS
Amounts falling due after more than one
year

8

(4,284

)

(30,000

)
NET ASSETS 44,452 106,109

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 44,451 106,108
SHAREHOLDERS' FUNDS 44,452 106,109

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

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

OLD VICARAGE ADVISORY LEGAL (KEMPSTON)
LIMITED (REGISTERED NUMBER: 07632908)

BALANCE SHEET - continued
31 May 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 director and authorised for issue on 9 February 2024 and were signed by:





P A Hillier - Director


OLD VICARAGE ADVISORY LEGAL (KEMPSTON)
LIMITED (REGISTERED NUMBER: 07632908)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 May 2023


1. STATUTORY INFORMATION

Old Vicarage Advisory Legal (Kempston) Limited is a private company, limited by shares,registered in England and Wales. The company's registered number is 07632908 and the registered office address is Winthorpe House, 29 Church End, Biddenham, Bedford, Bedfordshire, MK40 4AR.

The presentation currency of the financial statements is the Pound Sterling (£) and figures are rounded to the nearest £1.

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 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.

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.

The client database is being amortised over its useful life of four years.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost also 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 a straight line method, as indicated below.

Computer Equipment - 25% 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.

OLD VICARAGE ADVISORY LEGAL (KEMPSTON)
LIMITED (REGISTERED NUMBER: 07632908)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

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

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.

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.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date profits.

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 2 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Client
database
£   
COST
At 1 June 2022
and 31 May 2023 2,800
AMORTISATION
At 1 June 2022
and 31 May 2023 2,800
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

OLD VICARAGE ADVISORY LEGAL (KEMPSTON)
LIMITED (REGISTERED NUMBER: 07632908)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023


5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 June 2022 8,766
Disposals (8,766 )
At 31 May 2023 -
DEPRECIATION
At 1 June 2022 7,993
Charge for year 328
Eliminated on disposal (8,321 )
At 31 May 2023 -
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 773

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 5,394
Other debtors 58,644 128,132
58,644 133,526

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 10,000 10,117
Taxation and social security 513 22,845
Other creditors 6,362 4,860
16,875 37,822

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 9) 4,284 30,000

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,117

Amounts falling due between one and two years:
Bank loans - 1-2 years 4,284 20,000

OLD VICARAGE ADVISORY LEGAL (KEMPSTON)
LIMITED (REGISTERED NUMBER: 07632908)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023


9. LOANS - continued
2023 2022
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years - 10,000

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
P A Hillier
Balance outstanding at start of year 104,706 120,078
Amounts advanced 10,811 32,628
Amounts repaid (87,138 ) (48,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 28,379 104,706

The maximum amount overdrawn in the year was £106,117 (2022: £104,706) The loan was interest free and repayable on demand.