Company registration number 13145754 (England and Wales)
ST. MARY'S CHAMBERS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
ST. MARY'S CHAMBERS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
4 - 6
ST. MARY'S CHAMBERS LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,631
7,873
Current assets
Debtors
4
185,701
134,102
Cash at bank and in hand
242
42
185,943
134,144
Creditors: amounts falling due within one year
5
(85,314)
(99,593)
Net current assets
100,629
34,551
Total assets less current liabilities
106,260
42,424
Creditors: amounts falling due after more than one year
6
(38,944)
(54,019)
Net assets/(liabilities)
67,316
(11,595)
Reserves
Income and expenditure account
67,316
(11,595)
Members' funds
67,316
(11,595)

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

ST. MARY'S CHAMBERS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 2 October 2024 and are signed on its behalf by:
C  Coles
G E Jacques
Director
Director
H J Simpson
J D Hazelwood
Director
Director
C L Howell
A J Wren
Director
Director
Company registration number 13145754 (England and Wales)
ST. MARY'S CHAMBERS LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
Income and expenditure
£
Balance at 1 April 2022
30,899
Year ended 31 March 2023:
Deficit and total comprehensive income
(42,494)
Balance at 31 March 2023
(11,595)
Year ended 31 March 2024:
Surplus and total comprehensive income
78,911
Balance at 31 March 2024
67,316
ST. MARY'S CHAMBERS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information

St. Mary's Chambers Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is 32a Stoney Street, Nottingham, NG1 1LL. The company registration number is 13145754.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

 

Expenses include VAT where applicable as the company cannot reclaim it.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
33.3% Straight line
Fixtures and fittings
33.3% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments
Basic financial assets

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Basic financial liabilities

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest method. Loans and borrowings that are receivable within one year are not discounted. If an arrangement constitutes a finance transaction it is measured at present value of future payments discounted at a market rate of interest for a similar loan.

ST. MARY'S CHAMBERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -

The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.

1.6
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees
2024
2023
Number
Number
Total
58
57
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2023
5,092
5,518
10,610
Additions
1,217
165
1,382
At 31 March 2024
6,309
5,683
11,992
Depreciation and impairment
At 1 April 2023
1,068
1,669
2,737
Depreciation charged in the year
1,780
1,844
3,624
At 31 March 2024
2,848
3,513
6,361
Carrying amount
At 31 March 2024
3,461
2,170
5,631
At 31 March 2023
4,024
3,849
7,873
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
132,450
75,359
Other debtors
53,251
58,743
185,701
134,102
ST. MARY'S CHAMBERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
44,121
70,819
Trade creditors
7,993
17,544
Taxation and social security
28,700
-
0
Other creditors
4,500
11,230
85,314
99,593
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
38,944
54,019
7
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
332,378
456,788
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