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REGISTERED NUMBER: 07068648 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ORMRODS SOLICITORS & ADVOCATES LTD

ORMRODS SOLICITORS & ADVOCATES LTD (REGISTERED NUMBER: 07068648)






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


ORMRODS SOLICITORS & ADVOCATES LTD

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: S Ela
M W Penny
Ms L Ball





REGISTERED OFFICE: 1 Victoria Square
Thornton-Cleveleys
Lancashire
FY5 3LU





REGISTERED NUMBER: 07068648 (England and Wales)





ACCOUNTANTS: Jones Harris Limited
17 St Peters Place
Fleetwood
Lancashire
FY7 6EB

ORMRODS SOLICITORS & ADVOCATES LTD (REGISTERED NUMBER: 07068648)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 18,043 24,056
18,043 24,056

CURRENT ASSETS
Stocks 83,156 35,000
Debtors 6 212,633 261,833
Cash at bank and in hand 141,427 9,648
437,216 306,481
CREDITORS
Amounts falling due within one year 7 (155,114 ) (107,962 )
NET CURRENT ASSETS 282,102 198,519
TOTAL ASSETS LESS CURRENT
LIABILITIES

300,145

222,575

CREDITORS
Amounts falling due after more than one
year

8

(18,192

)

(30,822

)

PROVISIONS FOR LIABILITIES (4,244 ) (4,571 )
NET ASSETS 277,709 187,182

CAPITAL AND RESERVES
Called up share capital 6 6
Share premium 11,232 11,232
Retained earnings 266,471 175,944
277,709 187,182

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 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.

ORMRODS SOLICITORS & ADVOCATES LTD (REGISTERED NUMBER: 07068648)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





S Ela - Director


ORMRODS SOLICITORS & ADVOCATES LTD (REGISTERED NUMBER: 07068648)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Ormrods Solicitors & Advocates Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

ORMRODS SOLICITORS & ADVOCATES LTD (REGISTERED NUMBER: 07068648)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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.

Going concern
The directors are satisfied at the time of approving the financial statements that the company has adequate resources to continue to operate for the foreseeable future and as such, continues to adopt the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 31,234
AMORTISATION
At 1 January 2023
and 31 December 2023 31,234
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 48,016 84,241 132,257
DEPRECIATION
At 1 January 2023 34,517 73,684 108,201
Charge for year 3,374 2,639 6,013
At 31 December 2023 37,891 76,323 114,214
NET BOOK VALUE
At 31 December 2023 10,125 7,918 18,043
At 31 December 2022 13,499 10,557 24,056

ORMRODS SOLICITORS & ADVOCATES LTD (REGISTERED NUMBER: 07068648)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 178,403 216,369
Other debtors 29,299 103
Directors' current accounts - 41,086
Prepayments 4,931 4,275
212,633 261,833

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,057 7,236
Trade creditors 1,680 2,104
Tax 76,641 35,163
VAT 59,174 52,702
Other creditors 189 189
Directors' current accounts 493 4,000
Accruals and deferred income 6,880 6,568
155,114 107,962

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 18,192 30,822

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£    £   
G G Ormrod
Balance outstanding at start of year 35,885 9,707
Amounts advanced - 26,178
Amounts repaid (35,885 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 35,885

M W Penny
Balance outstanding at start of year 6,768 6,416
Amounts advanced 11,292 19,673
Amounts repaid (18,060 ) (19,321 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 6,768

ORMRODS SOLICITORS & ADVOCATES LTD (REGISTERED NUMBER: 07068648)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

S Ela
Balance outstanding at start of year 5,593 6,969
Amounts advanced 11,909 15,593
Amounts repaid (17,502 ) (16,969 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 5,593

Ms L Ball
Balance outstanding at start of year - -
Amounts advanced 7,257 9,000
Amounts repaid (7,257 ) (9,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The loans to the directors were unsecured and repayable on demand. Interest is payable at the HMRC rate applicable to beneficial loan arrangements.

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £152,669 (2022 - £129,000) were paid to the directors .