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REGISTERED NUMBER: 11537835 (England and Wales)














Report of the Director and

Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Lawyer Talent Network Limited

Lawyer Talent Network Limited (Registered number: 11537835)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Report of the Director 2

Balance Sheet 3

Notes to the Financial Statements 4


Lawyer Talent Network Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: M Allen





REGISTERED OFFICE: 99 Bishopsgate
Bishopsgate
London
EC2M 3XD





REGISTERED NUMBER: 11537835 (England and Wales)





ACCOUNTANTS: Myers & Co Accountants Limited
Suite 204A, East Wing
Sterling House
Langston Road
Loughton
Essex
IG10 3TS

Lawyer Talent Network Limited (Registered number: 11537835)

Report of the Director
for the Year Ended 31 December 2023

The director presents his report with the financial statements of the company for the year ended 31 December 2023.

REVIEW OF BUSINESS
The company's balance sheet moved into a net liability position during the second half of 2023, caused principally by several expected placements falling through at a late stage and some personnel changes. The company was able to agree deferred payment plans with certain key creditors that were then fully met and various consultants, staff and the director lent the company funds to ensure debts were paid as they fell due. During the first half of 2024 expected placements have occurred and the company once again has a net asset position. This is expected to continue going forward.

DIRECTORS
M Allen has held office during the whole of the period from 1 January 2023 to the date of this report.

Other changes in directors holding office are as follows:

V Jenkins - resigned 26 June 2023

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





M Allen - Director


20 September 2024

Lawyer Talent Network Limited (Registered number: 11537835)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,372 5,442
Investments 5 - 80
4,372 5,522

CURRENT ASSETS
Debtors 6 149,239 677,356
Cash at bank 18,190 223,998
167,429 901,354
CREDITORS
Amounts falling due within one year 7 733,115 862,392
NET CURRENT (LIABILITIES)/ASSETS (565,686 ) 38,962
TOTAL ASSETS LESS CURRENT
LIABILITIES

(561,314

)

44,484

CAPITAL AND RESERVES
Called up share capital 143 143
Share premium 22,453 22,453
Retained earnings (583,910 ) 21,888
(561,314 ) 44,484

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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 September 2024 and were signed by:



M Allen - Director


Lawyer Talent Network Limited (Registered number: 11537835)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Lawyer Talent Network 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 13 (2022 - 11 ) .

Lawyer Talent Network Limited (Registered number: 11537835)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 15,002
Additions 2,751
At 31 December 2023 17,753
DEPRECIATION
At 1 January 2023 9,560
Charge for year 3,821
At 31 December 2023 13,381
NET BOOK VALUE
At 31 December 2023 4,372
At 31 December 2022 5,442

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023 80
Disposals (80 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 80

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 60,635 186,360
Amounts owed by group undertakings - 19,200
Other debtors 88,604 471,796
149,239 677,356

Lawyer Talent Network Limited (Registered number: 11537835)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 9,783 12,541
Trade creditors 34,432 40,036
Amounts owed to group undertakings 97,400 -
Taxation and social security 411,943 611,620
Other creditors 179,557 198,195
733,115 862,392