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Registered number: 10800618
Arion Law Solicitors Limited
Unaudited Financial Statements
For The Year Ended 30 June 2023
Granatt & Co
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10800618
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 4,000 5,000
Tangible Assets 5 2,529 3,163
6,529 8,163
CURRENT ASSETS
Debtors 6 - 2,490
Cash at bank and in hand 4,202 424
4,202 2,914
Creditors: Amounts Falling Due Within One Year 7 (43,688 ) (32,194 )
NET CURRENT ASSETS (LIABILITIES) (39,486 ) (29,280 )
TOTAL ASSETS LESS CURRENT LIABILITIES (32,957 ) (21,117 )
NET LIABILITIES (32,957 ) (21,117 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (32,958 ) (21,118 )
SHAREHOLDERS' FUNDS (32,957) (21,117)
Page 1
Page 2
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms A Ogundimu
Director
16/04/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Arion Law Solicitors Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10800618 . The registered office is Solar House, 915 High Road, London, N12 8QJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 25% straight line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2022 10,000
As at 30 June 2023 10,000
Amortisation
As at 1 July 2022 5,000
Provided during the period 1,000
As at 30 June 2023 6,000
Net Book Value
As at 30 June 2023 4,000
As at 1 July 2022 5,000
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5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2022 5,472 800 2,811 9,083
Additions - - 225 225
As at 30 June 2023 5,472 800 3,036 9,308
Depreciation
As at 1 July 2022 4,173 200 1,547 5,920
Provided during the period 325 150 384 859
As at 30 June 2023 4,498 350 1,931 6,779
Net Book Value
As at 30 June 2023 974 450 1,105 2,529
As at 1 July 2022 1,299 600 1,264 3,163
6. Debtors
2023 2022
£ £
Due within one year
Corporation tax recoverable assets - 2,490
- 2,490
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 2
Accruals 2,200 2,200
Director's loan account 41,488 29,992
43,688 32,194
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
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