Caseware UK (AP4) 2023.0.135 2023.0.135 2022-01-01falsethat of a SolicitortruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10511563 2022-01-01 2022-12-31 10511563 2021-01-01 2021-12-31 10511563 2022-12-31 10511563 2021-12-31 10511563 c:Director1 2022-01-01 2022-12-31 10511563 d:PlantMachinery 2022-01-01 2022-12-31 10511563 d:PlantMachinery 2022-12-31 10511563 d:PlantMachinery 2021-12-31 10511563 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 10511563 d:ComputerEquipment 2022-01-01 2022-12-31 10511563 d:CurrentFinancialInstruments 2022-12-31 10511563 d:CurrentFinancialInstruments 2021-12-31 10511563 d:Non-currentFinancialInstruments 2022-12-31 10511563 d:Non-currentFinancialInstruments 2021-12-31 10511563 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10511563 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 10511563 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 10511563 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 10511563 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 10511563 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-12-31 10511563 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 10511563 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-12-31 10511563 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 10511563 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-12-31 10511563 d:ShareCapital 2022-12-31 10511563 d:ShareCapital 2021-12-31 10511563 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 10511563 d:RetainedEarningsAccumulatedLosses 2022-12-31 10511563 d:RetainedEarningsAccumulatedLosses 2021-12-31 10511563 c:OrdinaryShareClass1 2022-01-01 2022-12-31 10511563 c:OrdinaryShareClass1 2022-12-31 10511563 c:OrdinaryShareClass1 2021-12-31 10511563 c:FRS102 2022-01-01 2022-12-31 10511563 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 10511563 c:FullAccounts 2022-01-01 2022-12-31 10511563 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 10511563 c:PublicLimitedCompanyPLCNotQuotedOnAnyExchange 2022-01-01 2022-12-31 10511563 2 2022-01-01 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10511563










Purdy Smith Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 December 2022

 
Purdy Smith Limited
Registered number: 10511563

Balance sheet
As at 31 December 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
952
188

  
952
188

Current assets
  

Debtors: amounts falling due within one year
 5 
118,384
136,130

Cash at bank and in hand
 6 
64,608
148,319

  
182,992
284,449

Creditors: amounts falling due within one year
 7 
(40,974)
(86,594)

Net current assets
  
 
 
142,018
 
 
197,855

Total assets less current liabilities
  
142,970
198,043

Creditors: amounts falling due after more than one year
  
(32,500)
(42,500)

  

Net assets
  
110,470
155,543


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
 11 
110,370
155,443

  
110,470
155,543


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 April 2024.




Mark Smith
Director

The notes on pages 3 to 9 form part of these financial statements.
Page 1

 
Purdy Smith Limited
Registered number: 10511563

Balance sheet (continued)
As at 31 December 2022


Page 2

 
Purdy Smith Limited
 

 
Notes to the financial statements
For the year ended 31 December 2022

1.


General information

The company is registered as a private company limited by shares, incorporated and domiciled in England & Wales. The company's registered office is at 3 Waterhouse Square, 142 Holborn , London, EC1N 2SW.
The principal activity of the company during the period was that of a Solicitor. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'.

Page 3

 
Purdy Smith Limited
 

 
Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight line basis over the lease term.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.6

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
Purdy Smith Limited
 

 
Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Taxation

Tax is recognised in the Statement of comprehensive income, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.11

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%

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 the Statement of comprehensive income.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
Purdy Smith Limited
 

 
Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2022
        2021
            No.
            No.







Employee
2
1


4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 January 2022
1,083


Additions
1,165



At 31 December 2022

2,248



Depreciation


At 1 January 2022
895


Charge for the year on owned assets
401



At 31 December 2022

1,296



Net book value



At 31 December 2022
952



At 31 December 2021
188

Page 6

 
Purdy Smith Limited
 

 
Notes to the financial statements
For the year ended 31 December 2022

5.


Debtors

2022
2021
£
£


Trade debtors
70,407
50,373

Other debtors
6,818
6,071

Prepayments and accrued income
41,159
79,686

118,384
136,130



6.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
64,608
148,319



7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
10,000
7,500

Trade creditors
3,411
5,444

Corporation tax
8,132
46,802

Other taxation and social security
3,420
9,837

Other creditors
12,491
11,011

Accruals and deferred income
3,520
6,000

40,974
86,594



8.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
32,500
42,500


Page 7

 
Purdy Smith Limited
 

 
Notes to the financial statements
For the year ended 31 December 2022

9.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
10,000
7,500


10,000
7,500

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
22,500
30,000


22,500
30,000

Amounts falling due after more than 5 years

Bank loans
-
2,500

-
2,500

42,500
50,000



10.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



100 (2021 - 100) Ordinary shares of £1.00 each
100
100


11.


Reserves

Profit and loss account

The Profit and loss account comprises all current and prior period retained profits and losses.
Share capital
This represents the nominal value of shares that have been issued by the company.


12.


Pension commitments

Page 8

 
Purdy Smith Limited
 

 
Notes to the financial statements
For the year ended 31 December 2022

13.


Controlling party

The company is wholly owned by the Director, Mark Smith. 

Page 9