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REGISTERED NUMBER: SC376004 (Scotland)












Financial Statements

for the Year Ended 31 March 2024

for

Oraclelaw Limited

Oraclelaw Limited (Registered number: SC376004)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Oraclelaw Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J Carruthers
Mrs C Carruthers





REGISTERED OFFICE: 1a Helena House
Busby Road
Clarkston
Glasgow
G76 7RA





REGISTERED NUMBER: SC376004 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Oraclelaw Limited (Registered number: SC376004)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 81,667 91,667
Tangible assets 5 38,133 38,628
119,800 130,295

CURRENT ASSETS
Stocks 45,000 73,500
Debtors 6 78,797 55,781
Cash at bank 2,078,051 4,013,533
2,201,848 4,142,814
CREDITORS
Amounts falling due within one year 7 2,185,192 4,120,247
NET CURRENT ASSETS 16,656 22,567
TOTAL ASSETS LESS CURRENT
LIABILITIES

136,456

152,862

CREDITORS
Amounts falling due after more than one year 8 (15,431 ) (101,959 )

PROVISIONS FOR LIABILITIES (9,533 ) (7,339 )
NET ASSETS 111,492 43,564

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 111,392 43,464
SHAREHOLDERS' FUNDS 111,492 43,564

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Oraclelaw Limited (Registered number: SC376004)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:





J Carruthers - Director


Oraclelaw Limited (Registered number: SC376004)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Oraclelaw Limited is a private company, limited by shares , registered in Scotland. 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.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Revenue represents the amounts derived from the provision of solicitor services provided.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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 the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - Straight line over 6 years
Computer equipment - 33% on cost

Inventories
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.


Oraclelaw Limited (Registered number: SC376004)

Notes to the Financial Statements - continued
for the Year Ended 31 March 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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 180,000
AMORTISATION
At 1 April 2023 88,333
Amortisation for year 10,000
At 31 March 2024 98,333
NET BOOK VALUE
At 31 March 2024 81,667
At 31 March 2023 91,667

Oraclelaw Limited (Registered number: SC376004)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 29,746 68,383 98,129
Additions 4,034 12,892 16,926
At 31 March 2024 33,780 81,275 115,055
DEPRECIATION
At 1 April 2023 12,579 46,922 59,501
Charge for year 4,292 13,129 17,421
At 31 March 2024 16,871 60,051 76,922
NET BOOK VALUE
At 31 March 2024 16,909 21,224 38,133
At 31 March 2023 17,167 21,461 38,628

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 65,000 42,000
Other debtors 13,797 13,781
78,797 55,781

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 56,430 -
Taxation and social security 125,712 129,703
Other creditors 2,003,050 3,990,544
2,185,192 4,120,247

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 15,431 101,959

Oraclelaw Limited (Registered number: SC376004)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100