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Registration number: 08729674

C&R Legal Limited

trading as Crowdy & Rose Solicitors

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

C&R Legal Limited

trading as Crowdy & Rose Solicitors

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 10

 

C&R Legal Limited

trading as Crowdy & Rose Solicitors

(Registration number: 08729674)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

15,000

Tangible assets

5

69,242

51,472

 

69,242

66,472

Current assets

 

Stocks

6

50,635

42,773

Debtors

7

276,065

212,465

Cash at bank and in hand

 

496,847

467,926

 

823,547

723,164

Creditors: Amounts falling due within one year

8

(349,059)

(287,401)

Net current assets

 

474,488

435,763

Total assets less current liabilities

 

543,730

502,235

Provisions for liabilities

(4,666)

(4,141)

Net assets

 

539,064

498,094

Capital and reserves

 

Called up share capital

9

240

240

Retained earnings

538,824

497,854

Shareholders' funds

 

539,064

498,094

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

C&R Legal Limited

trading as Crowdy & Rose Solicitors

(Registration number: 08729674)
Balance Sheet as at 31 January 2024

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 October 2024 and signed on its behalf by:
 

.........................................
S J Clarke
Director

.........................................
S H Robinson
Director

.........................................
Mrs M Gongala-Stepien
Director

 

C&R Legal Limited

trading as Crowdy & Rose Solicitors

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Crowdy & Rose
High Street
Lechlade
Glos
GL7 3AE
United Kingdom

These financial statements were authorised for issue by the Board on 31 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

 

C&R Legal Limited

trading as Crowdy & Rose Solicitors

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% RB

Furniture and fittings

25% RB

Computer equipment

33% SL

Buildings

10% SL

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

C&R Legal Limited

trading as Crowdy & Rose Solicitors

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

C&R Legal Limited

trading as Crowdy & Rose Solicitors

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 29 (2023 - 24).

 

C&R Legal Limited

trading as Crowdy & Rose Solicitors

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 February 2023

150,000

150,000

At 31 January 2024

150,000

150,000

Amortisation

At 1 February 2023

135,000

135,000

Amortisation charge

15,000

15,000

At 31 January 2024

150,000

150,000

Carrying amount

At 31 January 2024

-

-

At 31 January 2023

15,000

15,000

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

53,161

64,925

118,086

Additions

24,696

12,698

37,394

At 31 January 2024

77,857

77,623

155,480

Depreciation

At 1 February 2023

18,596

48,018

66,614

Charge for the year

8,914

10,710

19,624

At 31 January 2024

27,510

58,728

86,238

Carrying amount

At 31 January 2024

50,347

18,895

69,242

At 31 January 2023

34,565

16,907

51,472

 

C&R Legal Limited

trading as Crowdy & Rose Solicitors

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Included within the net book value of land and buildings above is £50,347 (2023 - £34,565) in respect of freehold land and buildings.
 

6

Stocks

2024
£

2023
£

Work in progress

50,635

42,773

7

Debtors

2024
£

2023
£

Trade debtors

139,761

178,167

Other debtors

136,304

34,298

276,065

212,465

 

C&R Legal Limited

trading as Crowdy & Rose Solicitors

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

118,219

52,397

Taxation and social security

216,118

174,118

Accruals and deferred income

9,001

59,483

Other creditors

5,721

1,403

349,059

287,401

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

60

60

60

60

Ordinary B of £1 each

60

60

60

60

Ordinary C of £1 each

60

60

60

60

Ordinary D of £1 each

60

60

60

60

240

240

240

240

 

C&R Legal Limited

trading as Crowdy & Rose Solicitors

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

10

Dividends

Final dividends paid

2024
£

2023
£

Final dividend of £1,642.00 (2023 - £333.00) per each Ordinary A Shares

98,500

20,000

Final dividend of £1,658.00 (2023 - £1,404.00) per each Ordinary B Shares

99,500

84,250

Final dividend of £1,742.00 (2023 - £1,404.00) per each Ordinary C Shares

104,500

84,250

Final dividend of £1,658.00 (2023 - £2,058.00) per each Ordinary D Shares

99,500

123,500

402,000

312,000