Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-011false1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09360998 2023-01-01 2023-12-31 09360998 2022-01-01 2022-12-31 09360998 2023-12-31 09360998 2022-12-31 09360998 c:Director1 2023-01-01 2023-12-31 09360998 d:FreeholdInvestmentProperty 2023-12-31 09360998 d:FreeholdInvestmentProperty 2022-12-31 09360998 d:CurrentFinancialInstruments 2023-12-31 09360998 d:CurrentFinancialInstruments 2022-12-31 09360998 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09360998 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09360998 d:ShareCapital 2023-12-31 09360998 d:ShareCapital 2022-12-31 09360998 d:InvestmentPropertiesRevaluationReserve 2023-01-01 2023-12-31 09360998 d:InvestmentPropertiesRevaluationReserve 2023-12-31 09360998 d:InvestmentPropertiesRevaluationReserve 2022-12-31 09360998 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 09360998 d:RetainedEarningsAccumulatedLosses 2023-12-31 09360998 d:RetainedEarningsAccumulatedLosses 2022-12-31 09360998 c:FRS102 2023-01-01 2023-12-31 09360998 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09360998 c:FullAccounts 2023-01-01 2023-12-31 09360998 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09360998 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-01-01 2023-12-31 09360998 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-01-01 2022-12-31 09360998 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-12-31 09360998 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-12-31 09360998 d:OtherDeferredTax 2023-12-31 09360998 d:OtherDeferredTax 2022-12-31 09360998 2 2023-01-01 2023-12-31 09360998 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 09360998









NJB LAW LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
NJB LAW LIMITED
REGISTERED NUMBER: 09360998

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
575,000
575,000

Current assets
  

Debtors: amounts falling due within one year
 5 
277
1,830

Cash at bank and in hand
  
22,249
67,794

  
22,526
69,624

Creditors: amounts falling due within one year
 6 
(172,500)
(223,565)

Net current liabilities
  
 
 
(149,974)
 
 
(153,941)

Total assets less current liabilities
  
425,026
421,059

Provisions for liabilities
  

Deferred tax
 7 
(18,513)
(18,513)

Net assets
  
406,513
402,546


Capital and reserves
  

Called up share capital 
  
100
100

Fair value reserve
 8 
55,540
59,983

Profit and loss account
 8 
350,873
342,463

  
406,513
402,546


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


N.J. Belcher
Director
Date: 29 August 2024

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
NJB LAW LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

NJB Law Limited is a private limited company incorporated in the United Kingdom and the company registration number is 09360998. The registered office address is Moss's Farmhouse, Helions Bumpstead, Haverhill, Suffolk, CB9 7AS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.3

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.

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.5

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the
Page 2

 
NJB LAW LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.5
Financial instruments (continued)

present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 3

 
NJB LAW LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 4

 
NJB LAW LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
575,000



At 31 December 2023
575,000

The 2023 valuations were made by the director, on a fair value for existing use basis.

2023
2022
£
£

Revaluation reserves


At 1 January 2023
59,983
59,983

Net deficit in movement properties
(4,443)
-

At 31 December 2023
55,540
59,983



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
500,947
500,947


5.


Debtors

2023
2022
£
£


Other debtors
-
1,527

Prepayments and accrued income
277
303

277
1,830


Page 5

 
NJB LAW LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
1,165
2,819

Other taxation and social security
733
3,348

Other creditors
163,078
209,075

Accruals and deferred income
7,524
8,323

172,500
223,565



7.


Deferred taxation




2023


£






At beginning of year
(18,513)



At end of year
(18,513)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Capital gain on uplift in fair value of investment properties
18,513
18,513


8.


Reserves

Fair value reserve

The fair value reserve represents the movement in the fair value of the investment properties net of deferred tax.

Profit and loss account

The profit and loss represents cumulative profits and losses net of dividends and other adjustments.


9.


Related party transactions

During the year the company paid dividends of £1,000 (2022 - £1,000) to the director of the company.
The amount due to the director at year end was £162,919 (2022 - £209,074) and included within other creditors. Interest is charged on the loan at 2.25% and the loan itself is repayable on demand.


Page 6