IRIS Accounts Production v24.1.9.2 07457288 Board of Directors 1.2.23 31.1.24 31.1.24 false true false false false true false Ordinary 1.00000 Ordinary B 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh074572882023-01-31074572882024-01-31074572882023-02-012024-01-31074572882022-01-31074572882022-02-012023-01-31074572882023-01-3107457288ns15:EnglandWales2023-02-012024-01-3107457288ns14:PoundSterling2023-02-012024-01-3107457288ns10:Director12023-02-012024-01-3107457288ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3107457288ns10:SmallEntities2023-02-012024-01-3107457288ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3107457288ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3107457288ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3107457288ns10:FullAccounts2023-02-012024-01-310745728812023-02-012024-01-3107457288ns10:OrdinaryShareClass12023-02-012024-01-3107457288ns10:OrdinaryShareClass22023-02-012024-01-3107457288ns10:Director22023-02-012024-01-3107457288ns10:Director32023-02-012024-01-3107457288ns10:Director42023-02-012024-01-3107457288ns10:Director52023-02-012024-01-3107457288ns10:Director62023-02-012024-01-3107457288ns10:Director72023-02-012024-01-3107457288ns10:RegisteredOffice2023-02-012024-01-3107457288ns5:CurrentFinancialInstruments2024-01-3107457288ns5:CurrentFinancialInstruments2023-01-3107457288ns5:ShareCapital2024-01-3107457288ns5:ShareCapital2023-01-3107457288ns5:RetainedEarningsAccumulatedLosses2024-01-3107457288ns5:RetainedEarningsAccumulatedLosses2023-01-3107457288ns5:NetGoodwill2023-02-012024-01-3107457288ns5:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-3107457288ns5:NetGoodwill2023-01-3107457288ns5:NetGoodwill2024-01-3107457288ns5:NetGoodwill2023-01-3107457288ns5:LongLeaseholdAssetsns5:LandBuildings2023-01-3107457288ns5:FurnitureFittings2023-01-3107457288ns5:ComputerEquipment2023-01-3107457288ns5:LongLeaseholdAssetsns5:LandBuildings2023-02-012024-01-3107457288ns5:FurnitureFittings2023-02-012024-01-3107457288ns5:ComputerEquipment2023-02-012024-01-3107457288ns5:LongLeaseholdAssetsns5:LandBuildings2024-01-3107457288ns5:FurnitureFittings2024-01-3107457288ns5:ComputerEquipment2024-01-3107457288ns5:LongLeaseholdAssetsns5:LandBuildings2023-01-3107457288ns5:FurnitureFittings2023-01-3107457288ns5:ComputerEquipment2023-01-3107457288ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3107457288ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3107457288ns5:WithinOneYear2024-01-3107457288ns5:WithinOneYear2023-01-3107457288ns5:BetweenOneFiveYears2024-01-3107457288ns5:BetweenOneFiveYears2023-01-3107457288ns5:AllPeriods2024-01-3107457288ns5:AllPeriods2023-01-3107457288ns10:OrdinaryShareClass12024-01-3107457288ns10:OrdinaryShareClass22024-01-31074572881ns10:Director12023-01-31074572881ns10:Director12022-01-31074572881ns10:Director12023-02-012024-01-31074572881ns10:Director12022-02-012023-01-31074572881ns10:Director12024-01-31074572881ns10:Director12023-01-31
REGISTERED NUMBER: 07457288 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

LIDDYS SOLICITORS LIMITED

LIDDYS SOLICITORS LIMITED (REGISTERED NUMBER: 07457288)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LIDDYS SOLICITORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: A Abbasi
M Aldridge
N Cantrell
D M Harwood
N M Khalil
K M Liddy
Mrs J Liddy





REGISTERED OFFICE: 2 King Street
Wakefield
West Yorkshire
WF1 2SQ





REGISTERED NUMBER: 07457288 (England and Wales)





ACCOUNTANTS: Gibson Booth Limited
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB

LIDDYS SOLICITORS LIMITED (REGISTERED NUMBER: 07457288)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 60,000
Tangible assets 5 29,048 38,190
29,048 98,190

CURRENT ASSETS
Debtors 6 2,058,829 1,729,935
Cash at bank and in hand 378,079 513,540
2,436,908 2,243,475
CREDITORS
Amounts falling due within one year 7 342,329 284,577
NET CURRENT ASSETS 2,094,579 1,958,898
TOTAL ASSETS LESS CURRENT LIABILITIES 2,123,627 2,057,088

PROVISIONS FOR LIABILITIES 7,262 7,108
NET ASSETS 2,116,365 2,049,980

CAPITAL AND RESERVES
Called up share capital 9 400 400
Retained earnings 2,115,965 2,049,580
SHAREHOLDERS' FUNDS 2,116,365 2,049,980

LIDDYS SOLICITORS LIMITED (REGISTERED NUMBER: 07457288)

BALANCE SHEET - continued
31 JANUARY 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





K M Liddy - Director


LIDDYS SOLICITORS LIMITED (REGISTERED NUMBER: 07457288)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Liddys 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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.

Significant judgements and estimates
No significant judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

LIDDYS SOLICITORS LIMITED (REGISTERED NUMBER: 07457288)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, net of VAT and discounts.

When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.

When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses are recoverable.

A proportion of fees earned for work performed by the firm is contingent upon the successful completion of a case. Where the substance of a contract is such that a right to consideration does not arise until the occurrence of a contingent event, the asset and revenue are not recognised. The contingent event which determines the right to consideration is considered to be the point at which the case is settled.

No costs in respect of unrecognised income on contingent fees are carried forward.

Goodwill
Goodwill, being the amount paid in connection with a historical acquisition of a business, is being amortised over its estimated useful life of 10 years.

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
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Leasehold property improvements20% straight line
Fixture and Fittings33% straight line
Computer equipment33% straight line


LIDDYS SOLICITORS LIMITED (REGISTERED NUMBER: 07457288)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Operating lease 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 18 (2023 - 18 ) .

LIDDYS SOLICITORS LIMITED (REGISTERED NUMBER: 07457288)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 600,000
AMORTISATION
At 1 February 2023 540,000
Charge for year 60,000
At 31 January 2024 600,000
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 60,000

5. TANGIBLE FIXED ASSETS
Fixtures
Long and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 February 2023 3,890 21,290 95,473 120,653
Additions - 900 6,170 7,070
At 31 January 2024 3,890 22,190 101,643 127,723
DEPRECIATION
At 1 February 2023 3,112 10,900 68,451 82,463
Charge for year 778 3,956 11,478 16,212
At 31 January 2024 3,890 14,856 79,929 98,675
NET BOOK VALUE
At 31 January 2024 - 7,334 21,714 29,048
At 31 January 2023 778 10,390 27,022 38,190

LIDDYS SOLICITORS LIMITED (REGISTERED NUMBER: 07457288)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 492,794 412,567
Amounts recoverable on
contracts 1,173,593 942,757
Other debtors 336,936 295,320
Directors' current accounts 37,794 58,561
Prepayments and accrued income 17,712 20,730
2,058,829 1,729,935

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 199 (1,707 )
Corporation tax 137,747 152,898
Social security and other taxes - 9,766
VAT 57,885 15,641
Other creditors 2,107 1,471
Directors' current accounts 124,960 2,234
Accruals and deferred income 19,431 104,274
342,329 284,577

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.1.24 31.1.23
£    £   
Within one year 34,667 34,667
Between one and five years - 34,667
34,667 69,334

LIDDYS SOLICITORS LIMITED (REGISTERED NUMBER: 07457288)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
300 Ordinary £1 300 300
100 Ordinary B £1 100 100
400 400

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
K M Liddy
Balance outstanding at start of year 58,561 19,624
Amounts advanced 135,545 137,927
Amounts repaid (156,312 ) (98,990 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 37,794 58,561

11. RELATED PARTY DISCLOSURES

Other related parties:


31.01.24 31.01.23
£ £
Expenses paid on behalf of related party 60,780 12,250
Loan repayments 20,000 30,000
Amounts due (to)/from related party 335,265 294,485