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REGISTERED NUMBER: 13258317 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 June 2024

for

FLC Solicitors Limited

FLC Solicitors Limited (Registered number: 13258317)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FLC Solicitors Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: A Chapman
J M Chapman
J Harris
S C Harris





REGISTERED OFFICE: Leofric House
18B Binley Road
Coventry
West Midlands
CV3 1JN





REGISTERED NUMBER: 13258317 (England and Wales)





ACCOUNTANTS: Leigh Christou Ltd
Chartered Certified Accountants
Leofric House
Binley Road
Coventry
CV3 1JN

FLC Solicitors Limited (Registered number: 13258317)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 17,015 19,475
Tangible assets 5 133,363 145,621
150,378 165,096

CURRENT ASSETS
Debtors 6 25,095 40,187
Cash at bank 223,338 186,060
248,433 226,247
CREDITORS
Amounts falling due within one year 7 189,650 129,265
NET CURRENT ASSETS 58,783 96,982
TOTAL ASSETS LESS CURRENT
LIABILITIES

209,161

262,078

CREDITORS
Amounts falling due after more than one
year

8

(84,594

)

(105,308

)

PROVISIONS FOR LIABILITIES (27,018 ) (35,363 )
NET ASSETS 97,549 121,407

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 92,549 116,407
97,549 121,407

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

FLC Solicitors Limited (Registered number: 13258317)

Balance Sheet - continued
30 June 2024


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 8 August 2024 and were signed on its behalf by:




S C Harris - Director



J M Chapman - Director


FLC Solicitors Limited (Registered number: 13258317)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

FLC 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 represents the value of services provided during the period. This value represents the amounts expected to be recovered from clients based upon time spent and expenses incurred excluding VAT. Fee income is recognised as the service provided progresses and the right to consideration is secured, except in respect of certain services whereby the final outcome cannot be assessed with reasonable certainty.

Fee income in respect of contingent fee services is recognised in the period in that the contingent service occurs when it can be assured the fee can be collected.

Unbilled fee income for services provided is included as work in progress within other debtors.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance and Straight line over 10 years
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

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 balance sheet date.


FLC Solicitors Limited (Registered number: 13258317)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Disbursements
Disbursements are not included within fee income or expenses, but are netted off against each other.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 24,600
AMORTISATION
At 1 July 2023 5,125
Charge for year 2,460
At 30 June 2024 7,585
NET BOOK VALUE
At 30 June 2024 17,015
At 30 June 2023 19,475

FLC Solicitors Limited (Registered number: 13258317)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 1,792 4,229 143,741 35,525 185,287
Additions - 26,874 - 6,157 33,031
Disposals - - - (2,572 ) (2,572 )
At 30 June 2024 1,792 31,103 143,741 39,110 215,746
DEPRECIATION
At 1 July 2023 90 1,579 24,268 13,730 39,667
Charge for year 358 1,076 29,868 11,414 42,716
At 30 June 2024 448 2,655 54,136 25,144 82,383
NET BOOK VALUE
At 30 June 2024 1,344 28,448 89,605 13,966 133,363
At 30 June 2023 1,702 2,650 119,473 21,795 145,620

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2023
and 30 June 2024 143,741
DEPRECIATION
At 1 July 2023 24,268
Charge for year 29,868
At 30 June 2024 54,136
NET BOOK VALUE
At 30 June 2024 89,605
At 30 June 2023 119,473

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 6,621 4,156
Other debtors 18,474 36,031
25,095 40,187

FLC Solicitors Limited (Registered number: 13258317)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts 20,714 20,714
Taxation and social security 161,999 101,238
Other creditors 6,937 7,313
189,650 129,265

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts 84,594 105,308

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Hire purchase contracts 105,308 126,022

The hire purchase creditor is secured upon the asset purchased under the individual agreement.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
A Chapman
Balance outstanding at start of year (56 ) (86 )
Amounts advanced 81,726 54,530
Amounts repaid (81,670 ) (54,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (56 )

J Harris
Balance outstanding at start of year (186 ) (7 )
Amounts advanced 85,616 57,571
Amounts repaid (85,430 ) (57,750 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (186 )

FLC Solicitors Limited (Registered number: 13258317)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

J M Chapman
Balance outstanding at start of year (194 ) (19 )
Amounts advanced 82,782 69,075
Amounts repaid (82,588 ) (69,250 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (194 )

S C Harris
Balance outstanding at start of year (160 ) (42 )
Amounts advanced 97,722 56,309
Amounts repaid (97,562 ) (56,427 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (160 )

The above loans have been repaid in full during the year.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors by virtue of their shareholdings in the company,