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DERBYSHIRE LEGAL SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






DERBYSHIRE LEGAL SERVICES LIMITED (REGISTERED NUMBER: 08838592)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DERBYSHIRE LEGAL SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: C D Gale
R L Roberts
Mrs J C Renshaw





REGISTERED OFFICE: Sherwood House
1 Snitterton Road
Matlock
Derbyshire
DE4 3LZ





REGISTERED NUMBER: 08838592 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

DERBYSHIRE LEGAL SERVICES LIMITED (REGISTERED NUMBER: 08838592)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,000 8,000
Tangible assets 5 20,028 25,686
26,028 33,686

CURRENT ASSETS
Debtors 6 945,057 676,951
Cash at bank and in hand 521,248 305,744
1,466,305 982,695
CREDITORS
Amounts falling due within one year 7 616,764 440,648
NET CURRENT ASSETS 849,541 542,047
TOTAL ASSETS LESS CURRENT LIABILITIES 875,569 575,733

CREDITORS
Amounts falling due after more than one year 8 (118,686 ) (170,626 )

PROVISIONS FOR LIABILITIES 10 (500 ) (1,500 )
NET ASSETS 756,383 403,607

CAPITAL AND RESERVES
Called up share capital 11 120 120
Retained earnings 756,263 403,487
SHAREHOLDERS' FUNDS 756,383 403,607

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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2024 and were signed on its behalf by:



R L Roberts - Director


DERBYSHIRE LEGAL SERVICES LIMITED (REGISTERED NUMBER: 08838592)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Derbyshire Legal Services 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.

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
Revenue represents the fair value of consideration receivable in respect of professional services provided during the year, inclusive of recoverable expenses incurred on client assignments but excluding vat. Where the outcome of a transaction can be estimated reliably, revenue associated with the transaction is recognised in the income statement by reference to the stage of completion at the year end, provided that a right to consideration has been obtained by performance. Consideration accrues as contract activity progresses by reference to the value of the work performed.

Where the outcome of the transaction cannot be estimated reliably, revenue is recognised only to the extent that the costs of providing the service are recoverable. No revenue is recognised where there are significant uncertainties regarding recovery of the consideration due or where the right to receive payment is contingent on events outside the control of the company. Costs incurred are carried within "Amounts recoverable on contracts" but appropriately provided until such time as the contingency is removed. Expected losses are recognised as soon as they become probable based on latest estimates of revenue and costs. Unbilled revenue is included in "Amounts recoverable on contracts".

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, 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.
Improvements to property - 10% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

DERBYSHIRE LEGAL SERVICES LIMITED (REGISTERED NUMBER: 08838592)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2023 - 33 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 20,000
AMORTISATION
At 1 April 2023 12,000
Charge for year 2,000
At 31 March 2024 14,000
NET BOOK VALUE
At 31 March 2024 6,000
At 31 March 2023 8,000

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 3,514 35,620 49,599 88,733
Additions - 1,150 1,511 2,661
At 31 March 2024 3,514 36,770 51,110 91,394
DEPRECIATION
At 1 April 2023 1,549 19,970 41,528 63,047
Charge for year 194 4,080 4,045 8,319
At 31 March 2024 1,743 24,050 45,573 71,366
NET BOOK VALUE
At 31 March 2024 1,771 12,720 5,537 20,028
At 31 March 2023 1,965 15,650 8,071 25,686

DERBYSHIRE LEGAL SERVICES LIMITED (REGISTERED NUMBER: 08838592)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 234,291 182,608
Amounts recoverable on contracts 624,310 425,000
Other debtors 86,456 69,343
945,057 676,951

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 27,273 27,273
Taxation and social security 284,105 164,746
Other creditors 305,386 248,629
616,764 440,648

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 31,818 62,044
Other creditors 86,868 108,582
118,686 170,626

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 4,545 34,771

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 59,091 89,317
Other loans 100,883 114,383
159,974 203,700

The loans are secured via fixed and floating charges over the assets of the company.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 500 1,500

DERBYSHIRE LEGAL SERVICES LIMITED (REGISTERED NUMBER: 08838592)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 1,500
Provided during year (1,000 )
Balance at 31 March 2024 500

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
40 Ordinary A £1 40 40
40 Ordinary B £1 40 40
40 Ordinary C £1 40 40
120 120

12. RELATED PARTY DISCLOSURES

At the year end, £190,060 (2023: £189,124) was due to directors of the company. These amounts are interest-free and repayable on demand.

At the year end, £73,464 (2023: £68,057) was due from companies under common control. These amounts are interest-free and repayable on demand.