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Registration number: 04839627

Excel Law Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Excel Law Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

Excel Law Limited

Company Information

Director

Mr D Brierley

Registered office

10 Ambassador Place
Stockport Road
Altrincham
Cheshire
WA15 8DB

Accountants

Xeinadin Phillip Carroll
10 Ambassador Place
Stockport Road
Altrincham
Cheshire
WA15 8DB

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Excel Law Limited
for the Year Ended 30 November 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Excel Law Limited for the year ended 30 November 2023 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Excel Law Limited, as a body, in accordance with the terms of our engagement letter dated 23 June 2009. Our work has been undertaken solely to prepare for your approval the accounts of Excel Law Limited and state those matters that we have agreed to state to the Board of Directors of Excel Law Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Excel Law Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Excel Law Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Excel Law Limited. You consider that Excel Law Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Excel Law Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................


Xeinadin Phillip Carroll
10 Ambassador Place
Stockport Road
Altrincham
Cheshire
WA15 8DB

29 August 2024

 

Excel Law Limited

(Registration number: 04839627)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

1,135,000

1,135,000

Current assets

 

Debtors

5

1,229,006

1,229,127

Cash at bank and in hand

 

9

-

 

1,229,015

1,229,127

Creditors: Amounts falling due within one year

6

(2,408,860)

(2,402,925)

Net current liabilities

 

(1,179,845)

(1,173,798)

Net liabilities

 

(44,845)

(38,798)

Capital and reserves

 

Called up share capital

30

30

Retained earnings

(44,875)

(38,828)

Shareholders' deficit

 

(44,845)

(38,798)

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Excel Law Limited

(Registration number: 04839627)
Balance Sheet as at 30 November 2023

Approved and authorised by the director on 29 August 2024
 

.........................................
Mr D Brierley
Director

 

Excel Law Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
10 Ambassador Place
Stockport Road
Altrincham
Cheshire
WA15 8DB

These financial statements were authorised for issue by the director on 29 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

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.

 

Excel Law Limited

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

Depreciation

Asset class

Depreciation method and rate

Office equipment

25% Straight line basis

Plant and machinery

10% Straight line basis

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Excel Law Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Investments

2023
£

2022
£

Investments in subsidiaries

1,135,000

1,135,000

Subsidiaries

£

Cost or valuation

At 1 December 2022

1,135,000

Provision

Carrying amount

At 30 November 2023

1,135,000

At 30 November 2022

1,135,000

 

Excel Law Limited

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

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2023

2022

Subsidiary undertakings

Fastrack Medical Services Limited

10 Ambassador Place
Stockport Road
Altrincham
WA15 8DB

England

ordinary

100%

100%

Subsidiary undertakings

Fastrack Medical Services Limited

The principal activity of Fastrack Medical Services Limited is provision of medical legal reports..

5

Debtors

2023
£

2022
£

Trade debtors

99,905

99,905

Prepayments and accrued income

850,000

850,000

Other debtors

279,101

279,222

1,229,006

1,229,127

 

Excel Law Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

-

7

Taxation and social security

 

215

215

Accruals and deferred income

 

1,459,814

1,458,614

Other creditors

 

948,831

944,089

 

2,408,860

2,402,925

7

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Bank overdrafts

-

7

8

Parent and ultimate parent undertaking

The company's immediate parent is The Compensation Company Limited, incorporated in England and Wales.