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Registration number: 14545588

Finlaw Ltd

Unaudited Filleted Financial Statements

for the Period from 16 December 2022 to 31 December 2023

 

Finlaw Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

Finlaw Ltd

Company Information

Director

Mr J G Moores

Registered office

18 Highcross Road
Poulton-le-Fylde
Lancashire
FY6 8BA

Accountants

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Finlaw Ltd
for the Period Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Finlaw Ltd for the period ended 31 December 2023 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Finlaw Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Finlaw Ltd and state those matters that we have agreed to state to the Board of Directors of Finlaw Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Finlaw Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Finlaw Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Finlaw Ltd. You consider that Finlaw Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Finlaw Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

13 September 2024

 

Finlaw Ltd

(Registration number: 14545588)
Balance Sheet as at 31 December 2023

Note

2023
£

Current assets

 

Debtors

4

14,734

Cash at bank and in hand

 

1,884

 

16,618

Creditors: Amounts falling due within one year

5

(14,791)

Net assets

 

1,827

Capital and reserves

 

Called up share capital

6

1

Retained earnings

1,826

Shareholders' funds

 

1,827

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 September 2024
 

.........................................
Mr J G Moores
Director

 

Finlaw Ltd

Notes to the Unaudited Financial Statements for the Period from 16 December 2022 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
18 Highcross Road
Poulton-le-Fylde
Lancashire
FY6 8BA

These financial statements were authorised for issue by the director on 13 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Finlaw Ltd

Notes to the Unaudited Financial Statements for the Period from 16 December 2022 to 31 December 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4

Debtors

Current

2023
£

Prepayments

281

Other debtors

14,453

 

14,734

 

Finlaw Ltd

Notes to the Unaudited Financial Statements for the Period from 16 December 2022 to 31 December 2023

5

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Taxation and social security

13,891

Accruals and deferred income

900

14,791

6

Share capital

Allotted, called up and fully paid shares

2023

No.

£

Ordinary shares of £1 each

1

1

   

7

Dividends

2023

£

 

8

Related party transactions

Director's remuneration

The director's remuneration for the period was as follows:

2023
£

Remuneration

12,570

Loans to related parties

 

Finlaw Ltd

Notes to the Unaudited Financial Statements for the Period from 16 December 2022 to 31 December 2023

2023

Key management
£

Total
£

Advanced

62,428

62,428

Repaid

(48,375)

(48,375)

Interest transactions

399

399

At end of period

14,452

14,452