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REGISTERED NUMBER: 06998324 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

IAN HENERY SOLICITORS LIMITED

IAN HENERY SOLICITORS LIMITED (REGISTERED NUMBER: 06998324)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


IAN HENERY SOLICITORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: I D Henery
Mrs I M S S Yoong-Henery





REGISTERED OFFICE: 2 The Green
Alderidge
Walsall
West Midlands
WS9 8NH





REGISTERED NUMBER: 06998324 (England and Wales)





ACCOUNTANTS: Crombies Accountants Limited
Chartered Accountants
34 Waterloo Road
Wolverhampton
West Midlands
WV1 4DG

IAN HENERY SOLICITORS LIMITED (REGISTERED NUMBER: 06998324)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 50,000
Tangible assets 5 33,771 44,461
33,771 94,461

CURRENT ASSETS
Debtors 6 86,519 183,728
Prepayments and accrued income - 650
Cash at bank and in hand 21,948 74,325
108,467 258,703
CREDITORS
Amounts falling due within one year 7 301,227 498,277
NET CURRENT LIABILITIES (192,760 ) (239,574 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(158,989

)

(145,113

)

PROVISIONS FOR LIABILITIES 8,357 8,450
NET LIABILITIES (167,346 ) (153,563 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (167,446 ) (153,663 )
SHAREHOLDERS' FUNDS (167,346 ) (153,563 )

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

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

IAN HENERY SOLICITORS LIMITED (REGISTERED NUMBER: 06998324)

STATEMENT OF FINANCIAL POSITION - continued
31 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





I D Henery - Director


IAN HENERY SOLICITORS LIMITED (REGISTERED NUMBER: 06998324)

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

1. STATUTORY INFORMATION

Ian Henery 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Goodwill
Goodwill is the difference between amounts paid on the acquisitions of a business and the fair value of the identifiable assets and liabilities.

In a departure from FRS102 Section 1A, the Directors assessed the useful life of Goodwill on transition to FRS102 and in their opinion this period amortisation period remains relevant. It is amortised to the Statement of Income and Retained Earnings over its economic life of 20 years.

This has been impaired in the year.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 20% on cost
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


IAN HENERY SOLICITORS LIMITED (REGISTERED NUMBER: 06998324)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 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 statement of financial position 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 2 (2022 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 194,000
AMORTISATION
At 1 November 2022 144,000
Eliminated on disposal 50,000
At 31 October 2023 194,000
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 50,000

IAN HENERY SOLICITORS LIMITED (REGISTERED NUMBER: 06998324)

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

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2022 2,727 47,914 2,451 53,092
Disposals (1,897 ) - - (1,897 )
At 31 October 2023 830 47,914 2,451 51,195
DEPRECIATION
At 1 November 2022 1,651 5,590 1,390 8,631
Charge for year 101 9,583 398 10,082
Eliminated on disposal (1,289 ) - - (1,289 )
At 31 October 2023 463 15,173 1,788 17,424
NET BOOK VALUE
At 31 October 2023 367 32,741 663 33,771
At 31 October 2022 1,076 42,324 1,061 44,461

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 74,085 92,404
Other debtors - 75,795
Taxation 12,434 15,529
86,519 183,728

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) - 60,850
Trade creditors 139,963 162,401
VAT 42,843 87,823
Directors' current accounts 812 291
Accrued expenses 117,609 186,912
301,227 498,277

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans - 60,850