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Registered number: 11823642
Willetts & Co Solicitors Limited
Financial Statements
For The Year Ended 31 March 2024
Stubbs Parkin
55 Hoghton Street
Southport
Merseyside
PR9 0PG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11823642
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,743 1,104
1,743 1,104
CURRENT ASSETS
Debtors 5 109,011 84,191
Cash at bank and in hand 53,022 63,479
162,033 147,670
Creditors: Amounts Falling Due Within One Year 6 (48,906 ) (34,944 )
NET CURRENT ASSETS (LIABILITIES) 113,127 112,726
TOTAL ASSETS LESS CURRENT LIABILITIES 114,870 113,830
Creditors: Amounts Falling Due After More Than One Year 7 (16,242 ) (26,095 )
NET ASSETS 98,628 87,735
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 98,627 87,734
SHAREHOLDERS' FUNDS 98,628 87,735
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs T E Willetts
Director
29th July 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Willetts & Co Solicitors Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11823642 . The registered office is 28 Hoghton Street, Southport, Merseyside, PR9 0PA. The financial statements are presented in the company's presentation currency of GBP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% straight line basis
Computer Equipment 3 year straight line basis
2.4. Taxation
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 2)
3 2
Page 3
Page 4
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 5,522 405 5,927
Additions 2,504 - 2,504
As at 31 March 2024 8,026 405 8,431
Depreciation
As at 1 April 2023 4,418 405 4,823
Provided during the period 1,865 - 1,865
As at 31 March 2024 6,283 405 6,688
Net Book Value
As at 31 March 2024 1,743 - 1,743
As at 1 April 2023 1,104 - 1,104
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 92,857 67,471
Other debtors 16,154 16,720
109,011 84,191
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,831 4,905
Bank loans and overdrafts 9,517 9,517
Other creditors 825 190
Taxation and social security 33,733 20,332
48,906 34,944
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 16,242 26,095
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Page 5
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 5