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Registration number: 11648863

Legal Surveyors UK Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Legal Surveyors UK Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Legal Surveyors UK Limited

Company Information

Director

Mr C Love

Registered office

First Floor
81 - 85 High Street
Brentwood
Essex
CM14 4RR

Accountants

F9 Consulting Ltd
Chartered Certified
First Floor
81 - 85 High Street
Brentwood
Essex
CM14 4RR

 

Legal Surveyors UK Limited

(Registration number: 11648863)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,810

3,313

Current assets

 

Debtors

5

272,031

169,779

Cash at bank and in hand

 

124,854

103,334

 

396,885

273,113

Creditors: Amounts falling due within one year

6

(50,617)

(47,485)

Net current assets

 

346,268

225,628

Total assets less current liabilities

 

349,078

228,941

Creditors: Amounts falling due after more than one year

6

(178,805)

(156,503)

Provisions for liabilities

(58,587)

-

Net assets

 

111,686

72,438

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

111,685

72,437

Shareholders' funds

 

111,686

72,438

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Legal Surveyors UK Limited

(Registration number: 11648863)
Balance Sheet as at 31 October 2023 (continued)

Approved and authorised by the director on 29 July 2024
 

.........................................
Mr C Love
Director

 

Legal Surveyors UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
First Floor
81 - 85 High Street
Brentwood
Essex
CM14 4RR

These financial statements were authorised for issue by the director on 29 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Legal Surveyors UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Legal Surveyors UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 11 (2022 - 11).

 

Legal Surveyors UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 November 2022

1,065

4,401

5,466

Additions

1,017

542

1,559

At 31 October 2023

2,082

4,943

7,025

Depreciation

At 1 November 2022

366

1,787

2,153

Charge for the year

429

1,633

2,062

At 31 October 2023

795

3,420

4,215

Carrying amount

At 31 October 2023

1,287

1,523

2,810

At 31 October 2022

699

2,614

3,313

5

Debtors

Current

2023
£

2022
£

Trade debtors

223,508

159,911

Other debtors

48,523

9,868

 

272,031

169,779

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

48,373

46,952

Other creditors

2,244

533

50,617

47,485

Creditors: amounts falling due after more than one year

 

Legal Surveyors UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

6

Creditors (continued)

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

178,805

156,503

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

39,137

41,669

Other borrowings

139,668

114,834

178,805

156,503

9

Dividends

2023

2022

£

£

Final dividend of £27,500.00 (2022 - £Nil) per ordinary share

37,368

38,027

Interim dividend of £9,868.00 (2022 - £38,027.00) per ordinary share

-

-

37,368

38,027

 

 

10

Related party transactions

 

Legal Surveyors UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

10

Related party transactions (continued)

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

12,570

11,317

Contributions paid to money purchase schemes

12,000

8,500

24,570

19,817