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REGISTERED NUMBER: 07209925 (England and Wales)







FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

FODENS SOLICITORS LIMITED

FODENS SOLICITORS LIMITED (REGISTERED NUMBER: 07209925)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


FODENS SOLICITORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: Mr S M Foden
Mrs K E Davies
Mrs S J Price
Mr L Young





REGISTERED OFFICE: Fodens Business Centre
M54 Junction 6
Lawley
Telford
Shropshire
TF3 5HL





REGISTERED NUMBER: 07209925 (England and Wales)





ACCOUNTANTS: Stanton Ralph & Co Limited
Chartered Accountants
The Old Police Station
Whitburn Street
Bridgnorth
Shropshire
WV16 4QP

FODENS SOLICITORS LIMITED (REGISTERED NUMBER: 07209925)

ABRIDGED BALANCE SHEET
31ST DECEMBER 2023

31.12.22 31.12.23
£    £    Notes £    £   
FIXED ASSETS
- Intangible assets 4 -
65,666 Tangible assets 5 20,092
65,666 20,092

CURRENT ASSETS
251,577 Debtors 392,873
296,936 Cash at bank and in hand 201,381
548,513 594,254
CREDITORS
219,714 Amounts falling due within one year 246,628
328,799 NET CURRENT ASSETS 347,626
394,465 TOTAL ASSETS LESS CURRENT LIABILITIES 367,718

CREDITORS

(11,317

)
Amounts falling due after more than one
year

-

(7,500 ) PROVISIONS FOR LIABILITIES 6 (4,200 )
375,648 NET ASSETS 363,518

CAPITAL AND RESERVES
100 Called up share capital 7 100
375,548 Retained earnings 363,418
375,648 SHAREHOLDERS' FUNDS 363,518

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

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

The directors acknowledge their 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.

FODENS SOLICITORS LIMITED (REGISTERED NUMBER: 07209925)

ABRIDGED BALANCE SHEET - continued
31ST DECEMBER 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18th September 2024 and were signed on its behalf by:




Mr S M Foden - Director Mrs K E Davies - Director




Mrs S J Price - Director


FODENS SOLICITORS LIMITED (REGISTERED NUMBER: 07209925)

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

1. STATUTORY INFORMATION

Fodens Solicitors 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 net invoiced sales of services, excluding 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - over the period of the lease
Plant and machinery etc - 20% on cost and 20% on reducing balance

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 contributes to defined contribution pension schemes on behalf of its directors. Contributions payable to the pension scheme are charged to the profit and loss account in the period to which they relate.

FODENS SOLICITORS LIMITED (REGISTERED NUMBER: 07209925)

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

2. ACCOUNTING POLICIES - continued

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administration expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st January 2023
and 31st December 2023 250,000
AMORTISATION
At 1st January 2023
and 31st December 2023 250,000
NET BOOK VALUE

At 31st December 2023 -
At 31st December 2022 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st January 2023 226,862
Additions 3,349
Disposals (122,846 )
At 31st December 2023 107,365
DEPRECIATION
At 1st January 2023 161,196
Charge for year 8,464
Eliminated on disposal (82,387 )
At 31st December 2023 87,273
NET BOOK VALUE
At 31st December 2023 20,092
At 31st December 2022 65,666

6. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 4,200 7,500

FODENS SOLICITORS LIMITED (REGISTERED NUMBER: 07209925)

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

6. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st January 2023 7,500
Credit to Income Statement during year (3,300 )
Balance at 31st December 2023 4,200

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £ £
45 A Ordinary £1 45 45
45 B Ordinary £1 45 45
10 C Ordinary £1 10 10
100 100

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st December 2023 and 31st December 2022:

31.12.23 31.12.22
£    £   
Mr S M Foden
Balance outstanding at start of year (284 ) (4,616 )
Amounts advanced 103,210 85,613
Amounts repaid (72,648 ) (81,281 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 30,278 (284 )

Interest is charged using the HMRC official rate.

9. RELATED PARTY DISCLOSURES

During the year the company received £42,000 from (2022 - £24,000) Foden Property (Lawley) Limited which is controlled by Mrs K E Davies and Mr S Foden, directors. At 31st December 2023 £6,258 was owed to (2021 - £35,742 owed by) Foden Property (Lawley) Limited.

During the year the company made net loans of £18,132 (2022 - £1,481) to Fodens LLP which is controlled by Mr S Foden, director. At 31st December 2023 £20,859 (2022 - 2,727) was owed by Fodens LLP.

During the year the company made net loans of £nil (2022 - £nil) to PIP Limited a company in which Mr S Foden is a shareholder. At 31st December 2023 £7,000 (2022 - £7,000) was owed by PIP Limited.