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REGISTERED NUMBER: 08867924 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

David J Foster & Co (Solicitors)
Limited

David J Foster & Co (Solicitors)
Limited (Registered number: 08867924)






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


David J Foster & Co (Solicitors)
Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: M Tucker
D Tucker





REGISTERED OFFICE: 4 Victoria Road
Tamworth
Staffordshire
B79 7HL





REGISTERED NUMBER: 08867924 (England and Wales)





ACCOUNTANTS: Clayton and Clayton Accountants LLP
Chartered Certified Accountants
64 Market Street
New Mills
HIGH PEAK
SK22 4AA

David J Foster & Co (Solicitors)
Limited (Registered number: 08867924)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 27,608 -
Tangible assets 5 6,796 8,379
34,404 8,379

CURRENT ASSETS
Stocks 615,000 87,529
Debtors 6 238,097 153,247
Cash at bank and in hand 1,064 11,580
854,161 252,356
CREDITORS
Amounts falling due within one year 7 376,842 452,897
NET CURRENT ASSETS/(LIABILITIES) 477,319 (200,541 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

511,723

(192,162

)

CREDITORS
Amounts falling due after more than
one year

8

(723,169

)

(175,283

)

PROVISIONS FOR LIABILITIES (1,127 ) (1,127 )
NET LIABILITIES (212,573 ) (368,572 )

David J Foster & Co (Solicitors)
Limited (Registered number: 08867924)

Balance Sheet - continued
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (212,673 ) (368,672 )
(212,573 ) (368,572 )

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.

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 9 August 2024 and were signed on its behalf by:





M Tucker - Director


David J Foster & Co (Solicitors)
Limited (Registered number: 08867924)

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

1. STATUTORY INFORMATION

David J Foster & Co (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.

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, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of five 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.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


David J Foster & Co (Solicitors)
Limited (Registered number: 08867924)

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
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 32 (2023 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023 208,245
Additions 34,510
At 30 June 2024 242,755
AMORTISATION
At 1 July 2023 208,245
Charge for year 6,902
At 30 June 2024 215,147
NET BOOK VALUE
At 30 June 2024 27,608
At 30 June 2023 -

David J Foster & Co (Solicitors)
Limited (Registered number: 08867924)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 45,711
DEPRECIATION
At 1 July 2023 37,332
Charge for year 1,583
At 30 June 2024 38,915
NET BOOK VALUE
At 30 June 2024 6,796
At 30 June 2023 8,379

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 215,035 163,766
Other debtors 23,062 (10,519 )
238,097 153,247

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 10,000 73,360
Trade creditors 68,074 108,434
Taxation and social security 251,373 190,447
Other creditors 47,395 80,656
376,842 452,897

David J Foster & Co (Solicitors)
Limited (Registered number: 08867924)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans 10,000 51,343
Taxation and social security 228,709 -
Other creditors 484,460 123,940
723,169 175,283

Included within this figure is the amount of £484,460 owed to the directors. There is no repayment term on this loan and no interest accruing.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors have invested to date £484,460 - which is shown in long term creditors. No interest is charged on this loan and the directors are prepared to invest further in order to support the growth and expansion of the company.

10. RELATED PARTY DISCLOSURES

The directors personally own the property 4 Victoria Road Tamworth B79 7HL, which the David J foster & Co operates from and is the head office of the group.

They have charged no rent to date on these premises.