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REGISTERED NUMBER: 05872793 (England and Wales)















Financial Statements for the Year Ended 31st December 2023

for

One Essex Court Limited

One Essex Court Limited (Registered number: 05872793)






Contents of the Financial Statements
for the Year Ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


One Essex Court Limited

Company Information
for the Year Ended 31st December 2023







DIRECTORS: W R Davies
A R F Lenon
S B Elliott
A I McLeod





SECRETARY: J E Huxley





REGISTERED OFFICE: One Essex Court
Temple
London
EC4Y 9AR





REGISTERED NUMBER: 05872793 (England and Wales)





ACCOUNTANTS: Sampson Fielding Ltd
34 - 35 Clarges Street
Mayfair
London
W1J 7EJ

One Essex Court Limited (Registered number: 05872793)

Balance Sheet
31st December 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 271,410 229,830
Investments 5 100 100
271,510 229,930

CURRENT ASSETS
Debtors 6 2,538,104 1,798,266
Cash at bank and in hand 2,159,200 670,896
4,697,304 2,469,162
CREDITORS
Amounts falling due within one year 7 1,858,278 712,193
NET CURRENT ASSETS 2,839,026 1,756,969
TOTAL ASSETS LESS CURRENT LIABILITIES 3,110,536 1,986,899

PROVISIONS FOR LIABILITIES 39,282 21,198
NET ASSETS 3,071,254 1,965,701

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 3,071,250 1,965,697
SHAREHOLDERS' FUNDS 3,071,254 1,965,701

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

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

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 11th September 2024 and were signed on its behalf by:





A R F Lenon - Director


One Essex Court Limited (Registered number: 05872793)

Notes to the Financial Statements
for the Year Ended 31st December 2023

1. STATUTORY INFORMATION

One Essex Court 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 contributions receivable in respect of services provided to members of the chambers during the year net of value added tax. Turnover excludes amounts received by the company where it acts as an agent for the members of the chambers.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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.

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the period until the date the rent is expected to be adjusted to the prevailing market rate.

Pensions
The company provides access to a stakeholder pension scheme and remits employee contributions to the pension scheme provider.

Funds held on trust
The company receives monies in respect of fees due to barristers, which it holds in a separate account on trust for those barristers. The funds are not treated as an asset of the company and are not reported in the company's balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2022 - 36 ) .

One Essex Court Limited (Registered number: 05872793)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1st January 2023 627,337 491,990 326,506 1,445,833
Additions 8,495 82,799 44,514 135,808
At 31st December 2023 635,832 574,789 371,020 1,581,641
DEPRECIATION
At 1st January 2023 506,292 451,549 258,162 1,216,003
Charge for year 34,930 29,184 30,114 94,228
At 31st December 2023 541,222 480,733 288,276 1,310,231
NET BOOK VALUE
At 31st December 2023 94,610 94,056 82,744 271,410
At 31st December 2022 121,045 40,441 68,344 229,830

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st January 2023
and 31st December 2023 100
NET BOOK VALUE
At 31st December 2023 100
At 31st December 2022 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 1,795,209 1,020,161
Prepayments and other debtors 742,895 778,105
2,538,104 1,798,266

Trade debtors represent amounts invoiced for barrister contributions in December 2023 and received in January 2024.


Prepayment and other debtors include:

20232022
Prepaid expenses £612,611£618,899
Loans to Barristers£7,167£89,561

One Essex Court Limited (Registered number: 05872793)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade creditors 575,803 88,192
Amounts owed to group undertakings 28,196 7,597
Taxation and social security 950,968 376,363
Other creditors 303,311 240,041
1,858,278 712,193

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/12/23 31/12/22
£    £   
Within one year 521,326 480,779

The above figures include property leases.