REGISTERED NUMBER: |
FERGUSONS SOLICITORS LIMITED |
Unaudited Financial Statements |
for the Period 1 July 2022 to 29 June 2023 |
REGISTERED NUMBER: |
FERGUSONS SOLICITORS LIMITED |
Unaudited Financial Statements |
for the Period 1 July 2022 to 29 June 2023 |
FERGUSONS SOLICITORS LIMITED (REGISTERED NUMBER: NI653830) |
Contents of the Financial Statements |
FOR THE PERIOD 1 JULY 2022 TO 29 JUNE 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
FERGUSONS SOLICITORS LIMITED |
Company Information |
FOR THE PERIOD 1 JULY 2022 TO 29 JUNE 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
36-38 Northland Row |
Dungannon |
Co. Tyrone |
BT71 6AP |
FERGUSONS SOLICITORS LIMITED (REGISTERED NUMBER: NI653830) |
Statement of Financial Position |
29 JUNE 2023 |
2023 | 2022 |
Notes | £ | £ |
NON-CURRENT ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
CURRENT ASSETS |
Stocks |
Receivables: amounts falling due within one year |
7 |
Cash at bank and in hand |
PAYABLES |
Amounts falling due within one year | 8 | ( |
) |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 9 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 10 |
Retained earnings |
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. |
FERGUSONS SOLICITORS LIMITED (REGISTERED NUMBER: NI653830) |
Statement of Financial Position - continued |
29 JUNE 2023 |
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 |
FERGUSONS SOLICITORS LIMITED (REGISTERED NUMBER: NI653830) |
Notes to the Financial Statements |
FOR THE PERIOD 1 JULY 2022 TO 29 JUNE 2023 |
1. | STATUTORY INFORMATION |
Fergusons Solicitors Limited is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets. |
Revenue |
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 is the amount paid in connection with the acquisition of a business. No amortisatioin is charged in respect of same. |
Property, plant and equipment |
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment less their estimated residual value, over their expected useful lives as follows: |
Fixtures and fittings - 10% reducing balance |
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable. |
Inventories |
Stocks are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling. |
Taxation |
Taxation for the period 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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
FERGUSONS SOLICITORS LIMITED (REGISTERED NUMBER: NI653830) |
Notes to the Financial Statements - continued |
FOR THE PERIOD 1 JULY 2022 TO 29 JUNE 2023 |
3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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. |
Cash flow statement |
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
Additions |
At 29 June 2023 |
NET BOOK VALUE |
At 29 June 2023 |
6. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
and |
fittings |
£ |
COST OR VALUATION |
Additions |
Revaluations |
At 29 June 2023 |
DEPRECIATION |
Charge for period |
At 29 June 2023 |
NET BOOK VALUE |
At 29 June 2023 |
Cost or valuation at 29 June 2023 is represented by: |
Fixtures |
and |
fittings |
£ |
Valuation in 2023 | 6,972 |
FERGUSONS SOLICITORS LIMITED (REGISTERED NUMBER: NI653830) |
Notes to the Financial Statements - continued |
FOR THE PERIOD 1 JULY 2022 TO 29 JUNE 2023 |
7. | RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
8. | PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade payables |
Taxation and social security |
Other payables |
9. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | 1,214 | - |
Deferred tax |
£ |
Provided during period |
Balance at 29 June 2023 |
10. | RESERVES |
Revaluation |
reserve |
£ |
Revaluation of assets | 6,971 |
Transfer between reserves | (581 | ) |
At 29 June 2023 |