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REGISTERED NUMBER: 05067303 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

MS SOLICITORS LIMITED
TRADING AS
MARTIN SEARLE SOLICITORS

MS SOLICITORS LIMITED (REGISTERED NUMBER: 05067303)
TRADING AS MARTIN SEARLE SOLICITORS






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MS SOLICITORS LIMITED
TRADING AS MARTIN SEARLE SOLICITORS

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Ms F E Martin
Ms C L Searle





SECRETARY: Ms C L Searle





REGISTERED OFFICE: 9 Marlborough Place
Brighton
East Sussex
BN1 1UB





REGISTERED NUMBER: 05067303 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

MS SOLICITORS LIMITED (REGISTERED NUMBER: 05067303)
TRADING AS MARTIN SEARLE SOLICITORS

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,917 5,798

CURRENT ASSETS
Debtors 5 476,134 453,761
Cash at bank and in hand 486,475 155,981
962,609 609,742
CREDITORS
Amounts falling due within one year 6 527,438 236,288
NET CURRENT ASSETS 435,171 373,454
TOTAL ASSETS LESS CURRENT
LIABILITIES

437,088

379,252

CREDITORS
Amounts falling due after more than one
year

7

(12,621

)

(22,560

)

PROVISIONS FOR LIABILITIES (479 ) (1,450 )
NET ASSETS 423,988 355,242

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 423,985 355,239
SHAREHOLDERS' FUNDS 423,988 355,242

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.

MS SOLICITORS LIMITED (REGISTERED NUMBER: 05067303)
TRADING AS MARTIN SEARLE SOLICITORS

STATEMENT OF FINANCIAL POSITION - 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 15 October 2024 and were signed on its behalf by:




Ms F E Martin - Director



Ms C L Searle - Director


MS SOLICITORS LIMITED (REGISTERED NUMBER: 05067303)
TRADING AS MARTIN SEARLE SOLICITORS

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

1. STATUTORY INFORMATION

MS 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 18 (2023 - 20 ) .

MS SOLICITORS LIMITED (REGISTERED NUMBER: 05067303)
TRADING AS MARTIN SEARLE SOLICITORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 5,987 182,536 - 188,523
Additions - - 2,875 2,875
At 31 March 2024 5,987 182,536 2,875 191,398
DEPRECIATION
At 1 April 2023 5,987 176,738 - 182,725
Charge for year - 5,798 958 6,756
At 31 March 2024 5,987 182,536 958 189,481
NET BOOK VALUE
At 31 March 2024 - - 1,917 1,917
At 31 March 2023 - 5,798 - 5,798

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 361,532 336,619
Other debtors 114,602 117,142
476,134 453,761

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,648 10,648
Trade creditors 60,143 43,942
Tax 61,588 15,186
Social security and other taxes 14,046 9,574
VAT 114,475 97,399
Other creditors 266,538 57,871
Accruals and deferred income - 1,668
527,438 236,288

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,648 10,648
Bank loans - 2-5 years 1,973 11,912
12,621 22,560

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 29,000 29,000

MS SOLICITORS LIMITED (REGISTERED NUMBER: 05067303)
TRADING AS MARTIN SEARLE SOLICITORS

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

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 23,269 33,208

The loan is guaranteed by the UK Government under Bounce Back Loan Scheme.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Ms C L Searle
Balance outstanding at start of year 1,162 2,800
Amounts advanced 50,799 1,162
Amounts repaid (56,000 ) (2,800 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (4,039 ) 1,162

Ms F E Martin
Balance outstanding at start of year 4,781 2,785
Amounts advanced 58,936 4,781
Amounts repaid (58,562 ) (2,785 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,155 4,781

This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Ms F Martin & Ms C Searl .

This was by virtue of their 100% holding of the issued share capital.