Company registration number 09877015 (England and Wales)
MANAK LAWYERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
MANAK LAWYERS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
MANAK LAWYERS LIMITED (REGISTERED NUMBER: 09877015)
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Intangible assets
3
77,500
87,500
Tangible assets
4
632,511
624,522
Investments
5
148,922
61,647
858,933
773,669
Current assets
Stocks
181,439
221,497
Debtors
7
617,933
682,116
Cash at bank and in hand
657,069
1,269,789
1,456,441
2,173,402
Creditors: amounts falling due within one year
8
(752,322)
(790,157)
Net current assets
704,119
1,383,245
Total assets less current liabilities
1,563,052
2,156,914
Creditors: amounts falling due after more than one year
9
-
0
(743,788)
Provisions for liabilities
(19,841)
(20,017)
Net assets
1,543,211
1,393,109
Capital and reserves
Called up share capital
1,002
1,002
Profit and loss reserves
1,542,209
1,392,107
Total equity
1,543,211
1,393,109
MANAK LAWYERS LIMITED (REGISTERED NUMBER: 09877015)
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 1 August 2024 and are signed on its behalf by:
Mr S  Manak
Director
MANAK LAWYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Manak Lawyers Limited is a private company limited by shares incorporated in England and Wales. The registered office is 265 & 271a High Street, Orpington, Kent, BR6 0NW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. Investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.

1.2
Turnover

Turnover represents net invoiced provision of services, exclusive of value added tax.

1.3
Intangible fixed assets - goodwill

Goodwill represents the consideration paid for the acquisition of Walker & Walker Solicitors. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

1.4
Tangible fixed assets

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% on cost
Leasehold improvements
20% reducing balance
Fixtures and fittings
20% reducing balance
Computers
20% reducing balance
1.5
Fixed asset investments

Investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

MANAK LAWYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
51
51
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
100,000
Amortisation and impairment
At 1 April 2023
12,500
Amortisation charged for the year
10,000
At 31 March 2024
22,500
Carrying amount
At 31 March 2024
77,500
At 31 March 2023
87,500
MANAK LAWYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Tangible fixed assets
Freehold land and buildings
Leasehold improvements
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 1 April 2023
633,089
20,670
67,888
107,486
829,133
Additions
-
0
10,583
11,436
16,914
38,933
At 31 March 2024
633,089
31,253
79,324
124,400
868,066
Depreciation and impairment
At 1 April 2023
88,634
16,335
41,934
57,708
204,611
Depreciation charged in the year
12,662
1,092
6,396
10,794
30,944
At 31 March 2024
101,296
17,427
48,330
68,502
235,555
Carrying amount
At 31 March 2024
531,793
13,826
30,994
55,898
632,511
At 31 March 2023
544,455
4,335
25,954
49,778
624,522
5
Fixed asset investments
2024
2023
£
£
Other investments other than loans
148,922
61,647
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2023
61,647
Valuation changes
87,275
At 31 March 2024
148,922
Carrying amount
At 31 March 2024
148,922
At 31 March 2023
61,647
6
Financial instruments
2024
2023
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
58,159
29,949
MANAK LAWYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
261,963
389,984
Other debtors
355,970
292,132
617,933
682,116
8
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
73,074
94,401
Taxation and social security
455,586
460,183
Other creditors
223,662
235,573
752,322
790,157
9
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
-
0
743,788
10
Financial commitments, guarantees and contingent liabilities

A company owned by family members of a director has entered into a cross guarantee arrangement with its bankers in relation to the company.

 

The company has entered into an arrangement with its bankers in relation to the properties of the company.

11
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
81,493
63,000
MANAK LAWYERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
12
Client accounts

As at the balance sheet date, the company held £9,892,549 (£17,502,643) in client accounts.

13
Prior period adjustment
Reconciliation of changes in equity
The prior period adjustments do not give rise to any effect upon equity.
Notes to reconciliation

The prior year adjustment relates to the client bank accounts which have been offset against the corresponding creditor.

2024-03-312023-04-01false01 August 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityS Manak EsqJ S Jandu EsqMiss A K KangMrs S N BukhariMr A ThindMr S MoftahMs P Nahalfalsefalse098770152023-04-012024-03-31098770152024-03-31098770152023-03-3109877015core:NetGoodwill2024-03-3109877015core:NetGoodwill2023-03-3109877015core:LandBuildingscore:OwnedOrFreeholdAssets2024-03-3109877015core:LeaseholdImprovements2024-03-3109877015core:FurnitureFittings2024-03-3109877015core:ComputerEquipment2024-03-3109877015core:LandBuildingscore:OwnedOrFreeholdAssets2023-03-3109877015core:LeaseholdImprovements2023-03-3109877015core:FurnitureFittings2023-03-3109877015core:ComputerEquipment2023-03-3109877015core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3109877015core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3109877015core:Non-currentFinancialInstrumentscore:AfterOneYear2024-03-3109877015core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3109877015core:CurrentFinancialInstruments2024-03-3109877015core:CurrentFinancialInstruments2023-03-3109877015core:ShareCapital2024-03-3109877015core:ShareCapital2023-03-3109877015core:RetainedEarningsAccumulatedLosses2024-03-3109877015core:RetainedEarningsAccumulatedLosses2023-03-3109877015bus:Director12023-04-012024-03-3109877015core:Goodwill2023-04-012024-03-3109877015core:LandBuildingscore:OwnedOrFreeholdAssets2023-04-012024-03-3109877015core:LeaseholdImprovements2023-04-012024-03-3109877015core:FurnitureFittings2023-04-012024-03-3109877015core:ComputerEquipment2023-04-012024-03-31098770152022-04-012023-03-3109877015core:NetGoodwill2023-03-3109877015core:NetGoodwill2023-04-012024-03-3109877015core:LandBuildingscore:OwnedOrFreeholdAssets2023-03-3109877015core:LeaseholdImprovements2023-03-3109877015core:FurnitureFittings2023-03-3109877015core:ComputerEquipment2023-03-31098770152023-03-3109877015core:WithinOneYear2024-03-3109877015core:WithinOneYear2023-03-3109877015core:Non-currentFinancialInstruments2024-03-3109877015core:Non-currentFinancialInstruments2023-03-3109877015bus:PrivateLimitedCompanyLtd2023-04-012024-03-3109877015bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3109877015bus:FRS1022023-04-012024-03-3109877015bus:AuditExemptWithAccountantsReport2023-04-012024-03-3109877015bus:Director22023-04-012024-03-3109877015bus:Director32023-04-012024-03-3109877015bus:Director42023-04-012024-03-3109877015bus:Director52023-04-012024-03-3109877015bus:Director62023-04-012024-03-3109877015bus:Director72023-04-012024-03-3109877015bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP