Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr J Halewood-Dodd 09 May 2024 The principal activity of the company continued to be that of criminal law and legal aid solicitors. 07167758 2023-12-31 07167758 2022-12-31 07167758 core:CurrentFinancialInstruments 2023-12-31 07167758 core:CurrentFinancialInstruments 2022-12-31 07167758 core:ShareCapital 2023-12-31 07167758 core:ShareCapital 2022-12-31 07167758 core:RetainedEarningsAccumulatedLosses 2023-12-31 07167758 core:RetainedEarningsAccumulatedLosses 2022-12-31 07167758 core:Goodwill 2022-12-31 07167758 core:Goodwill 2023-12-31 07167758 core:OtherPropertyPlantEquipment 2022-12-31 07167758 core:OtherPropertyPlantEquipment 2023-12-31 07167758 bus:OrdinaryShareClass1 2023-12-31 07167758 bus:OrdinaryShareClass2 2023-12-31 07167758 2023-01-01 2023-12-31 07167758 bus:FilletedAccounts 2023-01-01 2023-12-31 07167758 bus:SmallEntities 2023-01-01 2023-12-31 07167758 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07167758 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07167758 bus:Director1 2023-01-01 2023-12-31 07167758 core:Goodwill core:TopRangeValue 2023-01-01 2023-12-31 07167758 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 07167758 2022-01-01 2022-12-31 07167758 core:Goodwill 2023-01-01 2023-12-31 07167758 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 07167758 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 07167758 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 07167758 bus:OrdinaryShareClass2 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07167758 (England and Wales)

LHD SOLICITORS LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

LHD SOLICITORS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Contents

LHD SOLICITORS LTD

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
LHD SOLICITORS LTD

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
DIRECTOR Mr J Halewood-Dodd
REGISTERED OFFICE 31 Church Street
Lancaster
LA1 1LP
United Kingdom
COMPANY NUMBER 07167758 (England and Wales)
ACCOUNTANT MHA
Richard House
9 Winckley Square
Preston
Lancashire
PR1 3HP
LHD SOLICITORS LTD

BALANCE SHEET

AS AT 31 DECEMBER 2023
LHD SOLICITORS LTD

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 312,500 362,500
Tangible assets 4 14,311 12,711
326,811 375,211
Current assets
Debtors 5 117,155 62,802
Cash at bank and in hand 191,470 154,555
308,625 217,357
Creditors: amounts falling due within one year 6 ( 62,351) ( 37,625)
Net current assets 246,274 179,732
Total assets less current liabilities 573,085 554,943
Provision for liabilities ( 3,388) ( 3,045)
Net assets 569,697 551,898
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 569,597 551,798
Total shareholders' funds 569,697 551,898

For the financial year 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 financial statements of LHD Solicitors Ltd (registered number: 07167758) were approved and authorised for issue by the Director on 09 May 2024. They were signed on its behalf by:

Mr J Halewood-Dodd
Director
LHD SOLICITORS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
LHD SOLICITORS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

LHD Solicitors Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 31 Church Street, Lancaster, LA1 1LP, United Kingdom.

The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. 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 20 years.

Goodwill 20 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals payable under operating leases, including any lease incentives received, are charged to profit and loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 12 10

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2023 1,000,000 1,000,000
At 31 December 2023 1,000,000 1,000,000
Accumulated amortisation
At 01 January 2023 637,500 637,500
Charge for the financial year 50,000 50,000
At 31 December 2023 687,500 687,500
Net book value
At 31 December 2023 312,500 312,500
At 31 December 2022 362,500 362,500

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2023 40,162 40,162
Additions 3,941 3,941
At 31 December 2023 44,103 44,103
Accumulated depreciation
At 01 January 2023 27,451 27,451
Charge for the financial year 2,341 2,341
At 31 December 2023 29,792 29,792
Net book value
At 31 December 2023 14,311 14,311
At 31 December 2022 12,711 12,711

5. Debtors

2023 2022
£ £
Trade debtors 26,526 17,452
Other debtors 90,629 45,350
117,155 62,802

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 2,328 1,096
Taxation and social security 52,347 26,226
Other creditors 7,676 10,303
62,351 37,625

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
65 A Ordinary shares of £ 1.00 each 65 65
35 B Ordinary shares of £ 1.00 each 35 35
100 100

8. Financial commitments

Commitments

2023 2022
£ £
Total future minimum lease payments under non-cancellable operating lease 2,730 19,527

9. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Amount owed by the Director to the company 0 702
Amount owed to the Director of the company 182 0