IRIS Accounts Production v24.3.0.553 08408214 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh084082142023-03-31084082142024-03-31084082142023-04-012024-03-31084082142022-03-31084082142022-04-012023-03-31084082142023-03-3108408214ns15:EnglandWales2023-04-012024-03-3108408214ns14:PoundSterling2023-04-012024-03-3108408214ns10:Director12023-04-012024-03-3108408214ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3108408214ns10:SmallEntities2023-04-012024-03-3108408214ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3108408214ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3108408214ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3108408214ns10:FullAccounts2023-04-012024-03-310840821412023-04-012024-03-3108408214ns10:Director22023-04-012024-03-3108408214ns10:Director32023-04-012024-03-3108408214ns10:RegisteredOffice2023-04-012024-03-3108408214ns5:CurrentFinancialInstruments2024-03-3108408214ns5:CurrentFinancialInstruments2023-03-3108408214ns5:Non-currentFinancialInstruments2024-03-3108408214ns5:Non-currentFinancialInstruments2023-03-3108408214ns5:ShareCapital2024-03-3108408214ns5:ShareCapital2023-03-3108408214ns5:RetainedEarningsAccumulatedLosses2024-03-3108408214ns5:RetainedEarningsAccumulatedLosses2023-03-3108408214ns5:NetGoodwill2023-04-012024-03-3108408214ns5:PatentsTrademarksLicencesConcessionsSimilar2023-04-012024-03-3108408214ns5:FurnitureFittings2023-04-012024-03-3108408214ns5:ComputerEquipment2023-04-012024-03-3108408214ns5:NetGoodwill2023-03-3108408214ns5:PatentsTrademarksLicencesConcessionsSimilar2023-03-3108408214ns5:NetGoodwill2024-03-3108408214ns5:PatentsTrademarksLicencesConcessionsSimilar2024-03-3108408214ns5:NetGoodwill2023-03-3108408214ns5:PatentsTrademarksLicencesConcessionsSimilar2023-03-3108408214ns5:FurnitureFittings2023-03-3108408214ns5:ComputerEquipment2023-03-3108408214ns5:FurnitureFittings2024-03-3108408214ns5:ComputerEquipment2024-03-3108408214ns5:FurnitureFittings2023-03-3108408214ns5:ComputerEquipment2023-03-3108408214ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3108408214ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3108408214ns5:WithinOneYear2024-03-3108408214ns5:WithinOneYear2023-03-3108408214ns5:BetweenOneFiveYears2024-03-3108408214ns5:BetweenOneFiveYears2023-03-3108408214ns5:MoreThanFiveYears2024-03-3108408214ns5:MoreThanFiveYears2023-03-3108408214ns5:AllPeriods2024-03-3108408214ns5:AllPeriods2023-03-31
REGISTERED NUMBER: 08408214 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

CHARLES AND CO SOLICITORS LIMITED

CHARLES AND CO SOLICITORS LIMITED (REGISTERED NUMBER: 08408214)

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


CHARLES AND CO SOLICITORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: J Chahal
G Chahal
R S Tiwana





REGISTERED OFFICE: 16-17 Caroline Street
Birmingham
West Midlands
B3 1TR





REGISTERED NUMBER: 08408214 (England and Wales)





ACCOUNTANTS: Prime
Chartered Accountants
161 Newhall Street
Birmingham
B3 1SW

CHARLES AND CO SOLICITORS LIMITED (REGISTERED NUMBER: 08408214)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 21,292 22,035
21,292 22,035

CURRENT ASSETS
Debtors 6 372,885 333,724
Cash at bank and in hand 93,602 76,226
466,487 409,950
CREDITORS
Amounts falling due within one year 7 99,480 72,612
NET CURRENT ASSETS 367,007 337,338
TOTAL ASSETS LESS CURRENT
LIABILITIES

388,299

359,373

CREDITORS
Amounts falling due after more than one
year

8

(12,219

)

(22,423

)

PROVISIONS FOR LIABILITIES (3,686 ) (4,740 )
NET ASSETS 372,394 332,210

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 372,094 331,910
SHAREHOLDERS' FUNDS 372,394 332,210

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.

CHARLES AND CO SOLICITORS LIMITED (REGISTERED NUMBER: 08408214)

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 9 October 2024 and were signed on its behalf by:





J Chahal - Director


CHARLES AND CO SOLICITORS LIMITED (REGISTERED NUMBER: 08408214)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Charles and Co Solicitors Limited 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 comprises the value of sales (excluding VAT and similar taxes and trade discounts) of services in the normal course of business. In general income is recognised on the basis of fees earned for work done and in the case of conveyancing work on completion.

Goodwill
Goodwill arising on incorporation of the business represents any excess of the fair value of the consideration given over the fair value of the identifiable assets and liabilities acquired.

Goodwill is being amortised to profit and loss over five years, being the best estimate of its useful economic life. Provision is made for an impairment.

Intangible assets
Amortisation is provided at the following annual rates in order to write off the assets over their expected useful economic life.

Website development - 20% on cost

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
Equipment - 25% on reducing balance

Current 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 that have been enacted or substantively enacted by the balance sheet date.


CHARLES AND CO SOLICITORS LIMITED (REGISTERED NUMBER: 08408214)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Website
Goodwill development Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 225,000 3,900 228,900
AMORTISATION
At 1 April 2023
and 31 March 2024 225,000 3,900 228,900
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 - - -

CHARLES AND CO SOLICITORS LIMITED (REGISTERED NUMBER: 08408214)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings Equipment Totals
£    £    £   
COST
At 1 April 2023 25,864 57,353 83,217
Additions - 4,912 4,912
At 31 March 2024 25,864 62,265 88,129
DEPRECIATION
At 1 April 2023 16,093 45,089 61,182
Charge for year 1,954 3,701 5,655
At 31 March 2024 18,047 48,790 66,837
NET BOOK VALUE
At 31 March 2024 7,817 13,475 21,292
At 31 March 2023 9,771 12,264 22,035

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 56,993 29,423
Accrued income 68,116 76,525
Other debtors 247,776 227,776
372,885 333,724

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loan 10,204 9,953
Taxation and social security 75,305 52,633
Other creditors 13,971 10,026
99,480 72,612

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 12,219 22,423

CHARLES AND CO SOLICITORS LIMITED (REGISTERED NUMBER: 08408214)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 63,510 58,831
Between one and five years 204,853 193,882
In more than five years 45,000 90,000
313,363 342,713

Included above are operating leases in respect of land and buildings due within one year £45,000 (2023: £45,000) and between one and five years £225,000 (2022: £270,000).