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REBECCA L FARET SOLICITORS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST OCTOBER 2023






REBECCA L FARET SOLICITORS LIMITED (REGISTERED NUMBER: 10214611)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 8

REBECCA L FARET SOLICITORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2023







DIRECTORS: Mrs P Derosaire
M D Derosaire





REGISTERED OFFICE: 1 The Avenue
Flitwick
Bedfordshire
MK45 1BP





REGISTERED NUMBER: 10214611 (England and Wales)





ACCOUNTANTS: HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN

REBECCA L FARET SOLICITORS LIMITED (REGISTERED NUMBER: 10214611)

BALANCE SHEET
31ST OCTOBER 2023

31/10/23 31/10/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 46,488 61,984
Tangible assets 5 17,452 21,172
63,940 83,156

CURRENT ASSETS
Debtors 6 89,234 126,698
Cash at bank and in hand 59,120 95,368
148,354 222,066
CREDITORS
Amounts falling due within one year 7 130,050 185,094
NET CURRENT ASSETS 18,304 36,972
TOTAL ASSETS LESS CURRENT
LIABILITIES

82,244

120,128

PROVISIONS FOR LIABILITIES 2,569 2,929
NET ASSETS 79,675 117,199

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 79,575 117,099
79,675 117,199

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

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

REBECCA L FARET SOLICITORS LIMITED (REGISTERED NUMBER: 10214611)

BALANCE SHEET - continued
31ST OCTOBER 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7th March 2024 and were signed on its behalf by:




Mrs P Derosaire - Director



M D Derosaire - Director


REBECCA L FARET SOLICITORS LIMITED (REGISTERED NUMBER: 10214611)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023

1. STATUTORY INFORMATION

Rebecca L Faret Solicitors 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Fees receivable from the rendering of services are recognised in the Profit and Loss Account when a right to consideration has been obtained in exchange for performance of contractual rights. Income is recorded excluding value added tax at the fair value of the right to consideration, including principal time after deducting allowances for discounts, credit risk and other uncertainties relating to clients' willingness to pay.

In all cases where the ability to recover fees on a matter is non-contingent, income is recognised on the basis of time spent. For those cases where the ability to recover fees is contingent, income will not be recognised until the matter is completed, except for those cases where the matter completes prior to approval of the accounts, for which a fair proportion is included in amounts recoverable on contract.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

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
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost 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.

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.


REBECCA L FARET SOLICITORS LIMITED (REGISTERED NUMBER: 10214611)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 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 8 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st November 2022
and 31st October 2023 154,959
AMORTISATION
At 1st November 2022 92,975
Amortisation for year 15,496
At 31st October 2023 108,471
NET BOOK VALUE
At 31st October 2023 46,488
At 31st October 2022 61,984

REBECCA L FARET SOLICITORS LIMITED (REGISTERED NUMBER: 10214611)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Long and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1st November 2022 7,980 32,267 20,942 61,189
Additions - 3,000 - 3,000
At 31st October 2023 7,980 35,267 20,942 64,189
DEPRECIATION
At 1st November 2022 4,780 19,265 15,972 40,017
Charge for year 796 3,503 2,421 6,720
At 31st October 2023 5,576 22,768 18,393 46,737
NET BOOK VALUE
At 31st October 2023 2,404 12,499 2,549 17,452
At 31st October 2022 3,200 13,002 4,970 21,172

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Trade debtors 29,177 58,108
Doubtful debt provision (1,279 ) (758 )
Amounts recoverable on contract 4,910 6,270
Prepayments 56,426 63,078
89,234 126,698

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Other loans (see note 8) 46,442 48,954
Trade creditors 8,635 2,462
Corporation tax 14,473 34,357
Social security and other taxes 5,941 -
VAT 21,674 27,556
Other creditors 653 833
Directors' current accounts 230 46,498
Accruals and deferred income 32,002 24,434
130,050 185,094

REBECCA L FARET SOLICITORS LIMITED (REGISTERED NUMBER: 10214611)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023

8. LOANS

An analysis of the maturity of loans is given below:

31/10/23 31/10/22
£    £   
Amounts falling due within one year or on demand:
Other loans 46,442 48,954

9. OTHER FINANCIAL COMMITMENTS

At the end of the year, the Company had financial commitments of £50,000 due within one year and £4,167 due between one to five years (2022 - £104,962).

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
REBECCA L FARET SOLICITORS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rebecca L Faret Solicitors Limited for the year ended 31st October 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Rebecca L Faret Solicitors Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Rebecca L Faret Solicitors Limited and state those matters that we have agreed to state to the Board of Directors of Rebecca L Faret Solicitors Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rebecca L Faret Solicitors Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Rebecca L Faret Solicitors Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Rebecca L Faret Solicitors Limited. You consider that Rebecca L Faret Solicitors Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Rebecca L Faret Solicitors Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN


8th March 2024