Registered number
08203425
Chartergate Legal Services Limited
Filleted Accounts
31 December 2023
Chartergate Legal Services Limited
Registered number: 08203425
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 187,161 91,361
Current assets
Debtors 4 191,775 212,709
Cash at bank and in hand 435,108 290,401
626,883 503,110
Creditors: amounts falling due within one year 5 (339,412) (212,842)
Net current assets 287,471 290,268
Total assets less current liabilities 474,632 381,629
Creditors: amounts falling due after more than one year 6 (191,876) (49,784)
Net assets 282,756 331,845
Capital and reserves
Called up share capital 2 2
Profit and loss account 282,754 331,843
Shareholders' funds 282,756 331,845
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Taylor
Director
Approved by the board on 12 September 2024
Chartergate Legal Services Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price).
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 16 12
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 5,220 84,377 115,258 204,855
Additions - - 156,447 156,447
At 31 December 2023 5,220 84,377 271,705 361,302
Depreciation
At 1 January 2023 - 68,331 45,163 113,494
Charge for the year - 4,011 56,636 60,647
At 31 December 2023 - 72,342 101,799 174,141
Net book value
At 31 December 2023 5,220 12,035 169,906 187,161
At 31 December 2022 5,220 16,046 70,095 91,361
4 Debtors 2023 2022
£ £
Trade debtors 170,772 170,605
Other debtors 21,003 42,104
191,775 212,709
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 31,702 7,418
Taxation and social security costs 297,460 201,037
Other creditors 10,250 4,387
339,412 212,842
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 191,876 49,784
7 Other information
Chartergate Legal Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
1-2 Rankin House, Murdoch Court, Roebuck Way, Knowlhill, MK5 8GB
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