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Registration number: 12594815

PCD Solicitors Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

PCD Solicitors Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

PCD Solicitors Ltd

Company Information

Directors

Mr Conor Thomas Johnstone

Mr Marcus Ashley Johnstone

Registered office

The Maltings
100 Wilderspool Causeway
Warrington
Cheshire
WA4 6PU

Accountants

Williamson Croft (Liverpool) Ltd
Chartered Certified Accountants
1 Old Hall Street
1st Floor
Liverpool
L3 9HF

 

PCD Solicitors Ltd

(Registration number: 12594815)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

14,574

7,933

Investment property

5

338,187

-

 

352,761

7,933

Current assets

 

Debtors

6

686,908

64,493

Cash at bank and in hand

 

590,771

610,032

 

1,277,679

674,525

Creditors: Amounts falling due within one year

7

(705,817)

(100,712)

Net current assets

 

571,862

573,813

Net assets

 

924,623

581,746

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

924,523

581,646

Shareholders' funds

 

924,623

581,746

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.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 February 2024 and signed on its behalf by:
 

 

PCD Solicitors Ltd

(Registration number: 12594815)
Balance Sheet as at 31 October 2023

.........................................
Mr Conor Thomas Johnstone
Director

.........................................
Mr Marcus Ashley Johnstone
Director

 

PCD Solicitors Ltd

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 and Wales.

The address of its registered office is:
The Maltings
100 Wilderspool Causeway
Warrington
Cheshire
WA4 6PU

These financial statements were authorised for issue by the Board on 27 February 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 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.

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.

 

PCD Solicitors Ltd

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

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:

Asset class

Depreciation method and rate

Plant and machinery

20% Straight Line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

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.

 

PCD Solicitors Ltd

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2022 - 6).

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 November 2022

9,729

9,729

Additions

10,734

10,734

At 31 October 2023

20,463

20,463

Depreciation

At 1 November 2022

1,796

1,796

Charge for the year

4,093

4,093

At 31 October 2023

5,889

5,889

Carrying amount

At 31 October 2023

14,574

14,574

At 31 October 2022

7,933

7,933

5

Investment properties

2023
£

Additions

338,187

At 31 October

338,187

There has been no valuation of investment property by an independent valuer.

 

PCD Solicitors Ltd

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

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

219,000

59,360

Amounts owed by related parties

9

460,000

-

Prepayments

 

7,908

-

Other debtors

 

-

5,133

   

686,908

64,493

7

Creditors

2023
£

2022
£

Due within one year

Trade creditors

14,504

-

Taxation and social security

56,196

93,114

Accruals and deferred income

622,579

-

Other creditors

12,538

7,598

705,817

100,712

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares

100

100

100

100

       
 

PCD Solicitors Ltd

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

9

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

54,471

23,756