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REGISTERED NUMBER: 14659942 (England and Wales)

















Unaudited Financial Statements

for the Period 13 February 2023 to 31 March 2024

for

Thorntons Legal Limited

Thorntons Legal Limited (Registered number: 14659942)






Contents of the Financial Statements
for the period 13 February 2023 to 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Thorntons Legal Limited

Company Information
for the period 13 February 2023 to 31 March 2024







DIRECTORS: G R L Leighton-Jones
J O A Hand
E D Parker





REGISTERED OFFICE: Rowan House South
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG





REGISTERED NUMBER: 14659942 (England and Wales)





ACCOUNTANTS: WR Partners
Chartered Accountants
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

Thorntons Legal Limited (Registered number: 14659942)

Balance Sheet
31 March 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 7,804
Investments 5 1,803,938
1,811,742

CURRENT ASSETS
Stocks 15,750
Debtors 6 170,791
Cash at bank and in hand 462,604
649,145
CREDITORS
Amounts falling due within one year 7 1,412,371
NET CURRENT LIABILITIES (763,226 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,048,516

CAPITAL AND RESERVES
Called up share capital 75
Retained earnings 1,048,441
1,048,516

Thorntons Legal Limited (Registered number: 14659942)

Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period 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.

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 11 November 2024 and were signed on its behalf by:





G R L Leighton-Jones - Director


Thorntons Legal Limited (Registered number: 14659942)

Notes to the Financial Statements
for the period 13 February 2023 to 31 March 2024

1. STATUTORY INFORMATION

Thorntons Legal 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.

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 taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 15% on cost
Plant and machinery etc - 33% on cost and 15% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss.

Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost.


Thorntons Legal Limited (Registered number: 14659942)

Notes to the Financial Statements - continued
for the period 13 February 2023 to 31 March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period 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 period 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 period was 14 .

Thorntons Legal Limited (Registered number: 14659942)

Notes to the Financial Statements - continued
for the period 13 February 2023 to 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
Additions 1,055 1,187 6,975 9,217
At 31 March 2024 1,055 1,187 6,975 9,217
DEPRECIATION
Charge for period 66 31 1,316 1,413
At 31 March 2024 66 31 1,316 1,413
NET BOOK VALUE
At 31 March 2024 989 1,156 5,659 7,804

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 1,803,938
At 31 March 2024 1,803,938
NET BOOK VALUE
At 31 March 2024 1,803,938

The company's investments at the Balance Sheet date in the share capital of companies include the following:

SCT Legal Services Limited
Registered office: England
Nature of business: Solicitors
%
Class of shares: holding
Ordinary 100.00
Ordinary B 100.00
2024
£   
Aggregate capital and reserves 133,705
Loss for the period (757,036 )

Thorntons Legal Limited (Registered number: 14659942)

Notes to the Financial Statements - continued
for the period 13 February 2023 to 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 23,658
Other debtors 147,133
170,791

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 42,957
Taxation and social security 222,411
Other creditors 1,147,003
1,412,371

8. RELATED PARTY DISCLOSURES

During the period, total dividends of £251,085 were paid to the directors .

Included within other creditors due within one year is an amount of £139,836 due to the directors of the company. The loan is repayable on demand. No interest was paid on this loan during the year.