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Mark Reynolds Solicitors Limited

Unaudited Financial Statements for the Year Ended 30 November 2023






Mark Reynolds Solicitors Limited (Registered number: 07803860)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mark Reynolds Solicitors Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: M Reynolds
P McCourt





REGISTERED OFFICE: 75 Walton Vale
Liverpool
Merseyside
L9 4RQ





REGISTERED NUMBER: 07803860 (England and Wales)





ACCOUNTANTS: Matthews Sutton & Co Ltd
Chartered Certified Accountants
48 - 52 Penny Lane
Mossley Hill
Liverpool
Merseyside
L18 1DG

Mark Reynolds Solicitors Limited (Registered number: 07803860)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 231,710 246,918
231,710 246,918

CURRENT ASSETS
Debtors 6 1,370,495 1,270,887
Cash at bank and in hand 466,075 387,170
1,836,570 1,658,057
CREDITORS
Amounts falling due within one year 7 445,252 383,393
NET CURRENT ASSETS 1,391,318 1,274,664
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,623,028

1,521,582

PROVISIONS FOR LIABILITIES 3,435 3,036
NET ASSETS 1,619,593 1,518,546

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,619,493 1,518,446
SHAREHOLDERS' FUNDS 1,619,593 1,518,546

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

Mark Reynolds Solicitors Limited (Registered number: 07803860)

Balance Sheet - continued
30 November 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:





M Reynolds - Director


Mark Reynolds Solicitors Limited (Registered number: 07803860)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Mark Reynolds 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 represents net invoiced sales of services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, 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.
Plant and machinery etc - 25% on cost, 15% on reducing balance and 5% straight line

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.

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 25 (2022 - 27 ) .

Mark Reynolds Solicitors Limited (Registered number: 07803860)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 300,000
AMORTISATION
At 1 December 2022
and 30 November 2023 300,000
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2022 143,980 318,205 462,185
Additions - 1,921 1,921
At 30 November 2023 143,980 320,126 464,106
DEPRECIATION
At 1 December 2022 25,916 189,351 215,267
Charge for year 2,880 14,249 17,129
At 30 November 2023 28,796 203,600 232,396
NET BOOK VALUE
At 30 November 2023 115,184 116,526 231,710
At 30 November 2022 118,064 128,854 246,918

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 621,583 550,236
Other debtors 748,912 720,651
1,370,495 1,270,887

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Taxation and social security 432,321 372,849
Other creditors 12,931 10,544
445,252 383,393