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REGISTERED NUMBER: 13694405 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Welland Valley Legal Ltd

Welland Valley Legal Ltd (Registered number: 13694405)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Welland Valley Legal Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs N L Biggin
C O Jenkins





REGISTERED OFFICE: Blaston Lodge
Blaston Road
Blaston
Market Harborough
Leicestershire
LE16 8DB





REGISTERED NUMBER: 13694405 (England and Wales)





ACCOUNTANTS: Knights Lowe Chartered Accountants
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

Welland Valley Legal Ltd (Registered number: 13694405)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,895 2,332

CURRENT ASSETS
Debtors 5 30,373 30,114
Cash at bank 60,871 52,041
91,244 82,155
CREDITORS
Amounts falling due within one year 6 33,439 50,707
NET CURRENT ASSETS 57,805 31,448
TOTAL ASSETS LESS CURRENT LIABILITIES 62,700 33,780

PROVISIONS FOR LIABILITIES 7 930 443
NET ASSETS 61,770 33,337

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 61,769 33,336
SHAREHOLDERS' FUNDS 61,770 33,337

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Welland Valley Legal Ltd (Registered number: 13694405)

Balance Sheet - continued
31 March 2024


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 4 October 2024 and were signed on its behalf by:





Mrs N L Biggin - Director


Welland Valley Legal Ltd (Registered number: 13694405)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Welland Valley Legal 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.

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 the net invoiced sales of services, excluding value added tax. Fees are recognised as earned when the company obtains the right to receive consideration in return for its performance under its contracts.

For incomplete contracts, revenue is recognised to reflect the accrual of the right to consideration as contract activity progresses. This amount will reflect the value of the services provided as a proportion of the total value of the contract. Revenue in respect of contingent fee engagements is recognised when the contingent event occurs and recoverability of the fee is assured.

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 - 20% on reducing balance
Computer equipment - 25% 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.

Amounts due on contracts
Included within debtors are amounts due on contracts, this being an accrual for work completed at the year end that has yet to be billed. This is recognised at selling price, reduced for any provision of time unlikely to be billed or recovered.

Welland Valley Legal Ltd (Registered number: 13694405)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 518 2,095 2,613
Additions 1,688 2,092 3,780
At 31 March 2024 2,206 4,187 6,393
DEPRECIATION
At 1 April 2023 25 256 281
Charge for year 257 960 1,217
At 31 March 2024 282 1,216 1,498
NET BOOK VALUE
At 31 March 2024 1,924 2,971 4,895
At 31 March 2023 493 1,839 2,332

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 23,077 23,247
Amounts recoverable on contract 5,427 4,758
Other debtors 1,869 2,109
30,373 30,114

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 1,329
Taxation and social security 17,995 16,267
Other creditors 15,444 33,111
33,439 50,707

Other creditors includes a directors loan.

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 930 443

Welland Valley Legal Ltd (Registered number: 13694405)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 443
Charge to Income Statement during year 487
Balance at 31 March 2024 930

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
1 Share capital £1 1 1

On the 1 July 2024, the company issued 99 shares to increase the share capital to 100 shares at £1 each. The company reclassified these shares to 60 Ordinary A shares and 40 Ordinary B shares.