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REGISTERED NUMBER: 09730027 (England and Wales)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ELIAS LAW LIMITED

ELIAS LAW LIMITED (REGISTERED NUMBER: 09730027)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELIAS LAW LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: I Elias





REGISTERED OFFICE: 3 Durrant Road
Bournemouth
Dorset
BH2 6NE





REGISTERED NUMBER: 09730027 (England and Wales)





ACCOUNTANTS: Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE

ELIAS LAW LIMITED (REGISTERED NUMBER: 09730027)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 734 1,099
Tangible assets 5 6,711 8,948
7,445 10,047

CURRENT ASSETS
Debtors 6 36,937 24,110
Cash at bank and in hand 58,500 46,711
95,437 70,821
CREDITORS
Amounts falling due within one year 7 77,806 139,738
NET CURRENT ASSETS/(LIABILITIES) 17,631 (68,917 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,076

(58,870

)

PROVISIONS FOR LIABILITIES 1,678 -
NET ASSETS/(LIABILITIES) 23,398 (58,870 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 23,298 (58,970 )
SHAREHOLDERS' FUNDS 23,398 (58,870 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

ELIAS LAW LIMITED (REGISTERED NUMBER: 09730027)

BALANCE SHEET - continued
31 DECEMBER 2023


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 director and authorised for issue on 18 September 2024 and were signed by:





I Elias - Director


ELIAS LAW LIMITED (REGISTERED NUMBER: 09730027)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Elias Law 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 work done during the period, exclusive of Value Added Tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

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 reducing balance
Computer equipment - 33% on 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.


ELIAS LAW LIMITED (REGISTERED NUMBER: 09730027)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 January 2023
and 31 December 2023 4,269
AMORTISATION
At 1 January 2023 3,170
Amortisation for year 365
At 31 December 2023 3,535
NET BOOK VALUE
At 31 December 2023 734
At 31 December 2022 1,099

ELIAS LAW LIMITED (REGISTERED NUMBER: 09730027)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 67,040 17,340 84,380
DEPRECIATION
At 1 January 2023 58,092 17,340 75,432
Charge for year 2,237 - 2,237
At 31 December 2023 60,329 17,340 77,669
NET BOOK VALUE
At 31 December 2023 6,711 - 6,711
At 31 December 2022 8,948 - 8,948

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 24,450 500
Other debtors 12,487 23,610
36,937 24,110

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 895 555
Taxation and social security 11,185 3,818
Other creditors 65,726 135,365
77,806 139,738

ELIAS LAW LIMITED (REGISTERED NUMBER: 09730027)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. RELATED PARTY DISCLOSURES

At the balance sheet date the company had received loans from the director of £60,000 (2022 - £70,031) which are included in creditors falling due within one year. This balance is interest free and repayable on demand.

I Elias & Co LLC

A company under common control.

Non interest bearing loan on which no terms of repayment have been agreed. The amount due to I Elias & Co LLC at the balance sheet date was £1,994 (2022 - £61,314).

EMCO Consulting Ltd

A company under common control.

Non interest bearing loan on which no terms of repayment have been agreed. The amount due to Elias Law Ltd at the balance sheet date was £2,343 (2022 - £2,343).

Elias Marine Consulting Ltd

A company under common control.

Non interest bearing loan on which no terms of repayment have been agreed. The amount due to Elias Law Ltd at the balance sheet date was £2,847 (2022 - £3,225).