Registered number
07438288
Mortonlaw Specialist Employment Lawyers Limited
Unaudited Filleted Accounts
31 March 2024
Mortonlaw Specialist Employment Lawyers Limited
Registered number: 07438288
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 11,550 34,650
Tangible assets 4 - 260
11,550 34,910
Current assets
Debtors 5 24,479 24,373
Cash at bank and in hand - 1,553
24,479 25,926
Creditors: amounts falling due within one year 6 (134,789) (133,856)
Net current liabilities (110,310) (107,930)
Net liabilities (98,760) (73,020)
Capital and reserves
Called up share capital 100 100
Profit and loss account (98,860) (73,120)
Shareholder's funds (98,760) (73,020)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr F Morton
Director
Approved by the board on 30 September 2024
Mortonlaw Specialist Employment Lawyers Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The financial statements are presented in sterling which the functional currency of the company and are rounded to the nearest £.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment over 4 years
Debtors and creditors receivable/payable within one year
Debtor and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 231,000
At 31 March 2024 231,000
Amortisation
At 1 April 2023 196,350
Provided during the year 23,100
At 31 March 2024 219,450
Net book value
At 31 March 2024 11,550
At 31 March 2023 34,650
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Office equipment
£
Cost
At 1 April 2023 8,491
At 31 March 2024 8,491
Depreciation
At 1 April 2023 8,231
Charge for the year 260
At 31 March 2024 8,491
Net book value
At 31 March 2024 -
At 31 March 2023 260
5 Debtors 2024 2023
£ £
Deferred tax asset 22,164 22,164
Other debtors 2,315 2,209
24,479 24,373
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,778 -
Trade creditors - 458
Taxation and social security costs 64 685
Other creditors 131,947 132,713
134,789 133,856
7 Going concern
Whilst the company now has negative reserves the director is confident that the company will return to profitability and has indicated his intention to continue his support of the company.
8 Other information
Mortonlaw Specialist Employment Lawyers Limited is a private company limited by shares and incorporated in England. Its registered office is:
13-14 Orchard Street
Bristol
BS1 5EH
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