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Registered number: 13142036
Cd Law Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Bennett Verby Limited
7 St Petersgate
Stockport
Cheshire
SK1 1EB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13142036
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 53 53
Tangible Assets 5 4,432 1,531
4,485 1,584
CURRENT ASSETS
Debtors 6 48,901 39,110
Cash at bank and in hand 57,095 16,554
105,996 55,664
Creditors: Amounts Falling Due Within One Year 7 (76,694 ) (45,692 )
NET CURRENT ASSETS (LIABILITIES) 29,302 9,972
TOTAL ASSETS LESS CURRENT LIABILITIES 33,787 11,556
PROVISIONS FOR LIABILITIES
Deferred Taxation (842 ) (291 )
NET ASSETS 32,945 11,265
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 32,943 11,263
SHAREHOLDERS' FUNDS 32,945 11,265
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr John Green
Director
17 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Cd Law Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13142036 . The registered office is Alderley Chambers, 12 London Road, Alderley Edge, SK9 7JS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are that of Virtual Property. It is not amortised to the profit and loss account.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% straight line
Computer Equipment 25% straight line
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.7. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Other
£
Cost
As at 1 February 2023 53
As at 31 January 2024 53
Net Book Value
As at 31 January 2024 53
As at 1 February 2023 53
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 February 2023 765 1,123 1,888
Additions 191 3,520 3,711
As at 31 January 2024 956 4,643 5,599
Depreciation
As at 1 February 2023 200 157 357
Provided during the period 191 619 810
As at 31 January 2024 391 776 1,167
Net Book Value
As at 31 January 2024 565 3,867 4,432
As at 1 February 2023 565 966 1,531
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 38,884 32,386
Other debtors 10,017 6,724
48,901 39,110
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 96 1,093
Amounts owed to participating interests 44,000 30,001
Other creditors 1,841 1,508
Taxation and social security 30,757 13,090
76,694 45,692
8. Share Capital
2024 2023
£ £
Called Up Share Capital not Paid 2 2
Amount of Allotted, Called Up Share Capital 2 2
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 February 2023 Amounts advanced Amounts repaid Amounts written off As at 31 January 2024
£ £ £ £ £
Mr John Green (23 ) 41,260 (41,250 ) - 13
Ms Emma Green - 41,263 (41,250 ) - 13
The above loan is unsecured, interest free and repayable on demand.
10. Related Party Transactions
At the balance sheet date the company owed £44,000 to Green CDL Ltd (2023: £30,001), a company with the same ownership and officers as CD Law Ltd.
During the period services of £24,000 were charged by Green CDL Ltd (2023: nil).
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