IRIS Accounts Production v23.3.1.45 12036323 director 1.6.22 31.5.23 31.5.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh120363232022-05-31120363232023-05-31120363232022-06-012023-05-31120363232021-05-31120363232021-06-012022-05-31120363232022-05-3112036323ns10:Originalns15:EnglandWales2022-06-012023-05-3112036323ns14:PoundSterlingns10:Original2022-06-012023-05-3112036323ns10:Originalns10:Director12022-06-012023-05-3112036323ns10:Original2022-06-012023-05-3112036323ns10:Original2023-05-3112036323ns10:Originalns10:PrivateLimitedCompanyLtd2022-06-012023-05-3112036323ns10:Originalns10:SmallEntities2022-06-012023-05-3112036323ns10:Originalns10:AuditExempt-NoAccountantsReport2022-06-012023-05-3112036323ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-3112036323ns10:SmallCompaniesRegimeForAccountsns10:Original2022-06-012023-05-3112036323ns10:Originalns10:FullAccounts2022-06-012023-05-3112036323ns10:Originalns10:OrdinaryShareClass12022-06-012023-05-3112036323ns10:Originalns10:RegisteredOffice2022-06-012023-05-3112036323ns10:Original2022-05-3112036323ns10:Originalns5:CurrentFinancialInstruments2023-05-3112036323ns10:Originalns5:CurrentFinancialInstruments2022-05-3112036323ns10:Originalns5:Non-currentFinancialInstruments2023-05-3112036323ns10:Originalns5:Non-currentFinancialInstruments2022-05-3112036323ns5:ShareCapitalns10:Original2023-05-3112036323ns5:ShareCapitalns10:Original2022-05-3112036323ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-05-3112036323ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-3112036323ns10:Originalns5:FurnitureFittings2022-06-012023-05-3112036323ns10:Originalns5:ComputerEquipment2022-06-012023-05-3112036323ns10:Original2021-06-012022-05-3112036323ns10:Originalns5:FurnitureFittings2022-05-3112036323ns10:Originalns5:ComputerEquipment2022-05-3112036323ns10:Original2022-05-3112036323ns10:Originalns5:FurnitureFittings2023-05-3112036323ns10:Originalns5:ComputerEquipment2023-05-3112036323ns10:Originalns5:FurnitureFittings2022-05-3112036323ns10:Originalns5:ComputerEquipment2022-05-3112036323ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3112036323ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-05-3112036323ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-05-3112036323ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-05-3112036323ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-05-3112036323ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-05-3112036323ns5:Securedns10:Original2023-05-3112036323ns5:Securedns10:Original2022-05-3112036323ns10:Originalns10:OrdinaryShareClass12023-05-31
REGISTERED NUMBER: 12036323 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Michael Cook Law Firm Limited

Michael Cook Law Firm Limited (Registered number: 12036323)






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


Michael Cook Law Firm Limited

Company Information
for the Year Ended 31 May 2023







DIRECTOR: M Cook





REGISTERED OFFICE: 12 Blandford Place
Seaham
County Durham
SR7 7EL





REGISTERED NUMBER: 12036323 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Kepier House
Belmont Business Park
Durham
DH1 1TW

Michael Cook Law Firm Limited (Registered number: 12036323)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,533 3,661

CURRENT ASSETS
Stocks 40,000 15,000
Debtors 5 16,785 9,791
Cash at bank 6,672 23,235
63,457 48,026
CREDITORS
Amounts falling due within one year 6 45,329 42,096
NET CURRENT ASSETS 18,128 5,930
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,661

9,591

CREDITORS
Amounts falling due after more than one
year

7

21,250

7,000
NET ASSETS 1,411 2,591

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 1,311 2,491
SHAREHOLDERS' FUNDS 1,411 2,591

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.

Michael Cook Law Firm Limited (Registered number: 12036323)

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:





M Cook - Director


Michael Cook Law Firm Limited (Registered number: 12036323)

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

1. STATUTORY INFORMATION

Michael Cook Law Firm 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.

There were no material departures from the standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

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

Revenue recognition
Turnover represents amounts chargeable to clients for professional services provided during the year excluding sales tax and third-party invoiced disbursements. Revenue is recognised on an individual engagement basis when the right to consideration has been obtained from the client in exchange for work performed and where the recoverability of the consideration can be assessed with reasonable certainty.

Turnover in respect of contingent fee assignments (over and above any agreed minimum fee) is only recognised when the contingent event occurs, and collectability of the fee is assured.

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

Tangible fixed assets are measured as cost less accumulated depreciation and impairment.

Stocks
Stocks and work in progress are valued at the lower of cost and selling price less estimated costs to sell, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit and loss.

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.


Michael Cook Law Firm Limited (Registered number: 12036323)

Notes to the Financial Statements - continued
for the Year Ended 31 May 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 7 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2022 2,441 2,654 5,095
Additions 897 1,164 2,061
At 31 May 2023 3,338 3,818 7,156
DEPRECIATION
At 1 June 2022 245 1,189 1,434
Charge for year 650 539 1,189
At 31 May 2023 895 1,728 2,623
NET BOOK VALUE
At 31 May 2023 2,443 2,090 4,533
At 31 May 2022 2,196 1,465 3,661

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 15,583 8,657
Other debtors 854 -
Prepayments 348 1,134
16,785 9,791

Michael Cook Law Firm Limited (Registered number: 12036323)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 19,500 8,905
Trade creditors 6,823 6,977
Taxation and social security 14,913 10,491
Other creditors 2,053 544
Director's current account 540 13,679
Accruals and deferred income 1,500 1,500
45,329 42,096

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 8) 21,250 7,000

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 519
Bank loans 19,500 8,386
19,500 8,905

Amounts falling due between one and two years:
Bank loans - 1-2 years 9,500 2,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 11,750 5,000

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 40,750 -

The bank loan is secured by fixed and floating charge over all assets of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

Michael Cook Law Firm Limited (Registered number: 12036323)

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

11. RELATED PARTY DISCLOSURES

There were no related party transactions other than those concluded under normal market conditions, except for those shown below.
2023 2022
£ £

Amounts due to directors 540 13,679
No interest has been charged