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REGISTERED NUMBER: 06411962 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Latitude Law Limited

Latitude Law Limited (Registered number: 06411962)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Latitude Law Limited (Registered number: 06411962)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,003 55,824
Investments 5 45 45
24,048 55,869

CURRENT ASSETS
Stocks 87,652 61,821
Debtors 6 271,930 202,057
Cash at bank and in hand 7 139,259 203,026
498,841 466,904
CREDITORS
Amounts falling due within one year 8 291,579 295,614
NET CURRENT ASSETS 207,262 171,290
TOTAL ASSETS LESS CURRENT LIABILITIES 231,310 227,159

CREDITORS
Amounts falling due after more than one year 9 (20,417 ) (14,351 )

PROVISIONS FOR LIABILITIES (4,150 ) (3,759 )
NET ASSETS 206,743 209,049

CAPITAL AND RESERVES
Called up share capital 112 112
Share premium 39,984 39,984
Retained earnings 166,647 168,953
SHAREHOLDERS' FUNDS 206,743 209,049

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Latitude Law Limited (Registered number: 06411962)

Balance Sheet - continued
31 December 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 July 2024 and were signed by:





Mr G McIndoe - Director


Latitude Law Limited (Registered number: 06411962)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Latitude Law Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06411962

Registered office: St James' Building
6th Floor
Oxford Street
Manchester
M1 6FQ

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 is derived from the ordinary activities of the company. Revenue is recognised as the total sales value of work done and services provided during the year and is stated net of Value Added Tax.

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.
Short leasehold improvements - Equally over the term of the lease
Fixtures & equipment - 50% on cost and 20% on cost
Computer equipment - 33% on cost

Stocks
Work in Progress is recognised at estimated realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Latitude Law Limited (Registered number: 06411962)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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.

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.

Clients money
Bank balances held in client accounts on behalf of clients and the corresponding liabilities to clients are not included in the balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 20 ) .

4. TANGIBLE FIXED ASSETS
Short
leasehold Fixtures Computer
improvements & equipment equipment Totals
£    £    £    £   
COST
At 1 January 2023 147,036 28,275 59,561 234,872
Additions - - 7,035 7,035
Disposals - - (2,644 ) (2,644 )
At 31 December 2023 147,036 28,275 63,952 239,263
DEPRECIATION
At 1 January 2023 110,708 22,402 45,938 179,048
Charge for year 29,407 1,766 7,683 38,856
Eliminated on disposal - - (2,644 ) (2,644 )
At 31 December 2023 140,115 24,168 50,977 215,260
NET BOOK VALUE
At 31 December 2023 6,921 4,107 12,975 24,003
At 31 December 2022 36,328 5,873 13,623 55,824

Latitude Law Limited (Registered number: 06411962)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:
Short
leasehold
improvements
£   
COST
At 1 January 2023
and 31 December 2023 144,220
DEPRECIATION
At 1 January 2023 108,766
Charge for year 28,844
At 31 December 2023 137,610
NET BOOK VALUE
At 31 December 2023 6,610
At 31 December 2022 35,454

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 45
NET BOOK VALUE
At 31 December 2023 45
At 31 December 2022 45

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 113,608 52,192
Other debtors 158,322 149,865
271,930 202,057

7. CASH AT BANK AND IN HAND

Included in cash at bank is £78,884 (2022: £84,115) relating to amounts held in the client bank account

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 58,889 16,667
Finance leases (see note 10) 6,610 28,490
Taxation and social security 74,402 68,308
Other creditors 151,678 182,149
291,579 295,614

Latitude Law Limited (Registered number: 06411962)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 20,417 13,889
Finance leases (see note 10) - 462
20,417 14,351

10. LEASING AGREEMENTS

Total commitments under non-cancellable operating leases amount to £31,868 (2022: £83,931).

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Finance leases 6,610 28,952

The secured debts are secured by a charge against short leasehold assets.

12. RELATED PARTY DISCLOSURES

At the year end the company owed £14,788 (2022: £11,700) to the director.
The loan was interest free and repayable on demand.