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REGISTERED NUMBER: 10562007 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

GOOD & TRUSTED LEGAL SERVICES LTD

GOOD & TRUSTED LEGAL SERVICES LTD (REGISTERED NUMBER: 10562007)

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


GOOD & TRUSTED LEGAL SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: S Motivala
N Chapman
A Pryce-Jones





REGISTERED OFFICE: Asset House
26-28 Thorpe Wood
Peterborough
Cambridgeshire
PE3 6SR





REGISTERED NUMBER: 10562007 (England and Wales)





ACCOUNTANTS: TC CH Limited
4 Office Village
Forder Way
Cygnet Park, Hampton
Peterborough
Cambridgeshire
PE7 8GX

GOOD & TRUSTED LEGAL SERVICES LTD (REGISTERED NUMBER: 10562007)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,928 3,660

CURRENT ASSETS
Stocks 5 78,905 16,506
Debtors 6 1,140,963 1,391,437
Cash at bank and in hand 7,583 2,620
1,227,451 1,410,563
CREDITORS
Amounts falling due within one year 7 1,132,082 1,411,491
NET CURRENT ASSETS/(LIABILITIES) 95,369 (928 )
TOTAL ASSETS LESS CURRENT LIABILITIES 98,297 2,732

CREDITORS
Amounts falling due after more than one
year

8

(96,882

)

-

PROVISIONS FOR LIABILITIES 10 (732 ) (915 )
NET ASSETS 683 1,817

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 583 1,717
SHAREHOLDERS' FUNDS 683 1,817

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.

GOOD & TRUSTED LEGAL SERVICES LTD (REGISTERED NUMBER: 10562007)

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 5 November 2024 and were signed on its behalf by:




N Chapman - Director



S Motivala - Director


GOOD & TRUSTED LEGAL SERVICES LTD (REGISTERED NUMBER: 10562007)

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


1. STATUTORY INFORMATION

Good & Trusted Legal Services Ltd 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.

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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

No significant judgements (apart from those involving estimations) have been made by management in the process of applying the entity's accounting policies and preparing these financial statements.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There have been no key assumptions or there sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 20% on reducing balance

At each balance sheet date assets not carried at fair value are assessed to determine whether there is an indication that the asset may be impaired. If there is such an indication the recoverable amount of the asset is compared to the carrying amount of the asset.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost.

Financial liabilities - trade creditors, accruals and other creditors and basic financial instruments and are measured at amortised cost. Taxation and social security and not included in the financial instruments disclosure definition.


GOOD & TRUSTED LEGAL SERVICES LTD (REGISTERED NUMBER: 10562007)

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


2. ACCOUNTING POLICIES - continued
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 balance sheet date.

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.

Debtors
Short term debtors are initially measured at transaction price less attributable costs and then subsequently measured at amortised costs using EIR. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are initially measured at transaction price less attributable costs. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

GOOD & TRUSTED LEGAL SERVICES LTD (REGISTERED NUMBER: 10562007)

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


4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 5,608
DEPRECIATION
At 1 April 2023 1,948
Charge for year 732
At 31 March 2024 2,680
NET BOOK VALUE
At 31 March 2024 2,928
At 31 March 2023 3,660

5. STOCKS
2024 2023
£    £   
Work-in-progress 78,905 16,506

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,661 8,542
Amounts owed by group undertakings 66,411 32,486
Deposit 840 840
Client account 1,052,135 1,343,684
Directors' loan accounts 6,916 5,885
1,140,963 1,391,437

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 32,597 33,803
Trade creditors 1,045 7,722
Corporation tax 25,285 17,304
Social security and other taxes 1,955 -
VAT 17,706 6,686
Client account Cr 1,052,135 1,343,684
Pension 373 254
Directors' loan accounts 986 158
Accrued expenses - 1,880
1,132,082 1,411,491

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 9) 96,882 -

GOOD & TRUSTED LEGAL SERVICES LTD (REGISTERED NUMBER: 10562007)

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


9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 18,613 33,803
Bank loans 13,984 -
32,597 33,803

Amounts falling due between one and two years:
Bank loans - 1-2 years 96,882 -

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 732 915

Deferred
tax
£   
Balance at 1 April 2023 915
Provided during year (183 )
Balance at 31 March 2024 732

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

12. RESERVES
Retained
earnings
£   

At 1 April 2023 1,717
Profit for the year 74,866
Dividends (76,000 )
At 31 March 2024 583

GOOD & TRUSTED LEGAL SERVICES LTD (REGISTERED NUMBER: 10562007)

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


13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
S Motivala
Balance outstanding at start of year 5,885 (3,530 )
Amounts advanced 41,467 58,723
Amounts repaid (40,436 ) (49,308 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,916 5,885

N Chapman
Balance outstanding at start of year (158 ) -
Amounts advanced 41,430 29,117
Amounts repaid (42,258 ) (29,275 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (986 ) (158 )

14. RELATED PARTY DISCLOSURES

During the year, total dividends of £76,000 (2023 - £72,500) were paid to the directors .

As at the year end, the company was owed £14,971 (2023:£10,424) by Good Wills & Estate Planing Ltd. This loan is unsecured, interest free and repayable on demand. The balance is included within other debtors.

As at the year end, the company was owed £36,589 (2023:£19,500) by Good & Trusted Wills Ltd. This loan is unsecured, interest free and repayable on demand. The balance is included within other debtors.

As at the year end, the company was owed £14,851 (2023:£2,562) by Good & Trusted Storage Ltd. This loan is unsecured, interest free and repayable on demand. The balance is included within other debtors.

15. ULTIMATE CONTROLLING PARTY

Shernaz Motivala and Natalie Chapman share joint ultimate control.