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REGISTERED NUMBER: 13923492 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Hannays Solicitors and Advocates Limited

Hannays Solicitors and Advocates Limited (Registered number: 13923492)






Contents of the Financial Statements
for the year ended 30 April 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Hannays Solicitors and Advocates Limited

Company Information
for the year ended 30 April 2024







DIRECTORS: K C Rainford
G M Wright





SECRETARY: M Rainford





REGISTERED OFFICE: 19 Beach Road
South Shields
Tyne & Wear
NE33 2QA





REGISTERED NUMBER: 13923492 (England and Wales)





ACCOUNTANTS: TTR Barnes Limited
Chartered Accountants
3-5 Grange Terrace
Stockton Road
Sunderland
Tyne & Wear
SR2 7DG

Hannays Solicitors and Advocates Limited (Registered number: 13923492)

Statement of Financial Position
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 150,000 200,000
Tangible assets 5 4,984 2,911
154,984 202,911

CURRENT ASSETS
Debtors 6 128,738 118,964
Cash at bank and in hand 206,373 236,171
335,111 355,135
CREDITORS
Amounts falling due within one year 7 178,186 250,228
NET CURRENT ASSETS 156,925 104,907
TOTAL ASSETS LESS CURRENT
LIABILITIES

311,909

307,818

PROVISIONS FOR LIABILITIES 754 56
NET ASSETS 311,155 307,762

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 249,900 249,900
Retained earnings 61,155 57,762
SHAREHOLDERS' FUNDS 311,155 307,762

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Hannays Solicitors and Advocates Limited (Registered number: 13923492)

Statement of Financial Position - continued
30 April 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2024 and were signed on its behalf by:





K C Rainford - Director


Hannays Solicitors and Advocates Limited (Registered number: 13923492)

Notes to the Financial Statements
for the year ended 30 April 2024

1. STATUTORY INFORMATION

Hannays Solicitors and Advocates 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.

The financial statements have been prepared on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future, which the directors consider to be appropriate.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% Straight line

Financial instruments
The company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hannays Solicitors and Advocates Limited (Registered number: 13923492)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

2. ACCOUNTING POLICIES - continued

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 15 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 250,000
AMORTISATION
At 1 May 2023 50,000
Amortisation for year 50,000
At 30 April 2024 100,000
NET BOOK VALUE
At 30 April 2024 150,000
At 30 April 2023 200,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 3,738
Additions 3,340
At 30 April 2024 7,078
DEPRECIATION
At 1 May 2023 827
Charge for year 1,267
At 30 April 2024 2,094
NET BOOK VALUE
At 30 April 2024 4,984
At 30 April 2023 2,911

Hannays Solicitors and Advocates Limited (Registered number: 13923492)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 94,396 81,387
Other debtors 34,342 37,577
128,738 118,964

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 41,569 65,010
Other creditors 136,617 185,218
178,186 250,228