Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 08877128 Miss L H McCammon iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08877128 2023-02-28 08877128 2024-02-28 08877128 2023-03-01 2024-02-28 08877128 frs-core:Non-currentFinancialInstruments 2024-02-28 08877128 frs-core:ComputerEquipment 2023-03-01 2024-02-28 08877128 frs-core:FurnitureFittings 2023-03-01 2024-02-28 08877128 frs-core:MotorVehicles 2023-03-01 2024-02-28 08877128 frs-core:ShareCapital 2024-02-28 08877128 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 08877128 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 08877128 frs-bus:AbridgedAccounts 2023-03-01 2024-02-28 08877128 frs-bus:SmallEntities 2023-03-01 2024-02-28 08877128 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 08877128 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 08877128 frs-bus:Director1 2023-03-01 2024-02-28 08877128 frs-bus:Director1 2023-02-28 08877128 frs-bus:Director1 2024-02-28 08877128 frs-countries:EnglandWales 2023-03-01 2024-02-28 08877128 2022-02-28 08877128 2023-02-28 08877128 2022-03-01 2023-02-28 08877128 frs-core:Non-currentFinancialInstruments 2023-02-28 08877128 frs-core:ShareCapital 2023-02-28 08877128 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 08877128
SFR Law Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 28 February 2024
Alexander Myerson & Co Limited
Alexander House
61 Rodney Street
Liverpool
Merseyside
L1 9ER
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 08877128
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 47,899 37,316
47,899 37,316
CURRENT ASSETS
Debtors 52,972 33,748
Cash at bank and in hand 1,125 24,447
54,097 58,195
Creditors: Amounts Falling Due Within One Year (80,657 ) (71,150 )
NET CURRENT ASSETS (LIABILITIES) (26,560 ) (12,955 )
TOTAL ASSETS LESS CURRENT LIABILITIES 21,339 24,361
Creditors: Amounts Falling Due After More Than One Year (10,555 ) (16,141 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (10,642 ) (8,101 )
NET ASSETS 142 119
CAPITAL AND RESERVES
Called up share capital 5 100 100
Profit and Loss Account 42 19
SHAREHOLDERS' FUNDS 142 119
Page 1
Page 2
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 28 February 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Miss L H McCammon
Director
1 October 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
SFR Law Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08877128 . The registered office is Alexander House, 61 Rodney Street, Liverpool, L1 9ER.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% on cost
Computer Equipment 33% on cost
2.4. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 7)
8 7
Page 3
Page 4
4. Tangible Assets
Total
£
Cost
As at 1 March 2023 81,101
Additions 22,184
As at 28 February 2024 103,285
Depreciation
As at 1 March 2023 43,785
Provided during the period 11,601
As at 28 February 2024 55,386
Net Book Value
As at 28 February 2024 47,899
As at 1 March 2023 37,316
5. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
6. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 28 February 2024
£ £ £ £ £
Miss Lorna McCammon (10,917 ) (138,054 ) 124,750 - (24,221 )
The above loan is unsecured, interest free and repayable on demand.
Page 4