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Registered number: 09692925










HENDERSON & JONES LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
HENDERSON & JONES LIMITED
REGISTERED NUMBER: 09692925

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,205
1,104

Investments
 5 
200
200

  
1,405
1,304

Current assets
  

Stocks
 6 
3,708,663
2,819,513

Debtors: amounts falling due after more than one year
 7 
-
52,646

Debtors: amounts falling due within one year
 7 
4,605,150
5,697,263

Current asset investments
 8 
1
1

Cash at bank and in hand
 9 
1,525,076
1,026,990

  
9,838,890
9,596,413

Creditors: amounts falling due within one year
 10 
(6,951,427)
(3,613,617)

Net current assets
  
 
 
2,887,463
 
 
5,982,796

Total assets less current liabilities
  
2,888,868
5,984,100

Creditors: amounts falling due after more than one year
 11 
-
(3,854,452)

Provisions for liabilities
  

Other provisions
 13 
(1,665,714)
-

  
 
 
(1,665,714)
 
 
-

Net assets
  
1,223,154
2,129,648


Capital and reserves
  

Called up share capital 
  
10
10

Share premium account
  
164,992
164,992

Profit and loss account
  
1,058,152
1,964,646

  
1,223,154
2,129,648


Page 1

 
HENDERSON & JONES LIMITED
REGISTERED NUMBER: 09692925
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 October 2024.




G Jones
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
HENDERSON & JONES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The company is a private company limited by shares and incorporated in England and Wales. The registered office is 14th Floor, 33 Cavendish Square, W1G 0PW. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

After reviewing the Company’s current year performance,  forecast and projections, the directors are of the opinion that the Company has adequate resources to continue to operate for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable. Revenue represents the Company's entitlement to returns from its acquired claims. Revenue is recognised once a judgement or settlement has been received in the Company's favour. 

Page 3

 
HENDERSON & JONES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
HENDERSON & JONES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%
straight-line
Computer equipment
-
33%
straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.12

Stocks

Work in progress is stated at the lower of cost and net realisable value, being the estimated settlement value less costs to complete. Cost is made up of purchase price, legal fees and other costs directly attributable to the case. 
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Property held for resale is stated at the lower of cost and net realisable value. 

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Page 5

 
HENDERSON & JONES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2022 - 8).

Page 6

 
HENDERSON & JONES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost


At 1 January 2023
4,805
7,761
12,566


Additions
1,314
-
1,314



At 31 December 2023

6,119
7,761
13,880



Depreciation


At 1 January 2023
4,805
6,657
11,462


Charge for the year on owned assets
109
1,104
1,213



At 31 December 2023

4,914
7,761
12,675



Net book value



At 31 December 2023
1,205
-
1,205



At 31 December 2022
-
1,104
1,104


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 January 2023
200



At 31 December 2023
200




Page 7

 
HENDERSON & JONES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Stocks

2023
2022
£
£

Work in progress
3,708,663
2,059,513

Property for resale
-
760,000

3,708,663
2,819,513



7.


Debtors

2023
2022
£
£

Due after more than one year

Prepayments and accrued income
-
52,646


2023
2022
£
£

Due within one year

Trade debtors
4,084,653
4,516,019

Amounts owed by group undertakings
4,246
1,228

Other debtors
17,116
867

Prepayments
259,893
1,179,149

Deferred taxation
239,242
-

4,605,150
5,697,263



8.


Current asset investments

2023
2022
£
£

Shares in group undertakings
1
1



9.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,525,076
1,026,990


Page 8

 
HENDERSON & JONES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
3,126,533
-

Trade creditors
636,036
504,670

Amounts owed to group undertakings
7,342
18,475

Corporation tax
1,487
21,627

Other taxation and social security
33,881
91,306

Other creditors
12,570
8,810

Accruals and deferred income
3,133,578
2,968,729

6,951,427
3,613,617



11.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
3,854,452



12.


Deferred taxation




2023


£






Charged to profit or loss
239,242



At end of year
239,242

The deferred tax asset is made up as follows:

2023
2022
£
£


Tax losses carried forward
239,242
-

239,242
-


The company is expected to generate future taxable profits in the next financial year to enable the recovery of this asset.

Page 9

 
HENDERSON & JONES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

13.


Provisions




Other provision

£





Charged to profit or loss
1,665,714



At 31 December 2023
1,665,714

The above provision pertains to a potential profit share based on the consideration received to date but contingent on the completion and final outcome of the case.


14.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions totalling £6,923 (2022:£6,650) were payable to the fund at the balance sheet date and is included in creditors. 


15.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 7 October 2024 by Daryush Farshchi-Heidari (FCA) (Senior Statutory Auditor) on behalf of Sumer Auditco Limited.

 
Page 10