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REGISTERED NUMBER: 10681650 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Biscoes Legal Services Limited

Biscoes Legal Services Limited (Registered number: 10681650)






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


Biscoes Legal Services Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Ms A P Lee
T Gamester
R T Barnes
Mrs S D Bellchambers
C E King
Ms S J Gravestock
Mrs L N R Clutton
Mrs C Hamer
Mrs C K Oldham
K Richardson
A J Spooner





REGISTERED OFFICE: Lake House
2 Port Way
Port Solent
Portsmouth
Hampshire
PO6 4TY





REGISTERED NUMBER: 10681650 (England and Wales)





ACCOUNTANTS: Johnston Wood Roach Limited
24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ

Biscoes Legal Services Limited (Registered number: 10681650)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,021 6,874
Tangible assets 5 64,275 92,645
69,296 99,519

CURRENT ASSETS
Debtors 6 3,789,978 3,144,099
Cash at bank and in hand 1,264,156 380,632
5,054,134 3,524,731
CREDITORS
Amounts falling due within one year 7 2,333,736 1,907,991
NET CURRENT ASSETS 2,720,398 1,616,740
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,789,694

1,716,259

CREDITORS
Amounts falling due after more than one
year

8

(393,210

)

(208,333

)

PROVISIONS FOR LIABILITIES (336,972 ) (68,714 )
NET ASSETS 2,059,512 1,439,212

CAPITAL AND RESERVES
Called up share capital 720 720
Retained earnings 11 2,058,792 1,438,492
SHAREHOLDERS' FUNDS 2,059,512 1,439,212

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.

Biscoes Legal Services Limited (Registered number: 10681650)

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 13 November 2024 and were signed on its behalf by:




Ms A P Lee - Director C E King - Director




T Gamester - Director Mrs S D Bellchambers - Director




R T Barnes - Director


Biscoes Legal Services Limited (Registered number: 10681650)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Biscoes Legal Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


Accounts are rounded to the nearest £.

The accounts represent the company as an individual entity.

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 financial statements requires the use of estimates and assumptions that affect reported
amounts of assets and liabilities at the date of the financial statements, and revenues and expenses during the reporting period. These estimates and assumptions are based on management's best knowledge of the amount, events or actions. Actual results may differ from those amounts.

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 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

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.


Biscoes Legal Services Limited (Registered number: 10681650)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

Functional and presentational currencies
The financial statements are presented in sterling which is also the functional currency of the Company.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 141 (2023 - 125 ) .

Biscoes Legal Services Limited (Registered number: 10681650)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 10,000 2,585 12,585
AMORTISATION
At 1 April 2023 5,000 711 5,711
Charge for year 1,000 853 1,853
At 31 March 2024 6,000 1,564 7,564
NET BOOK VALUE
At 31 March 2024 4,000 1,021 5,021
At 31 March 2023 5,000 1,874 6,874

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 64,234 112,949 48,635 225,818
Additions - 5,189 53,748 58,937
Disposals (44,463 ) (100,462 ) - (144,925 )
At 31 March 2024 19,771 17,676 102,383 139,830
DEPRECIATION
At 1 April 2023 28,754 60,348 44,071 133,173
Charge for year 1,977 1,185 11,689 14,851
Eliminated on disposal (18,539 ) (53,930 ) - (72,469 )
At 31 March 2024 12,192 7,603 55,760 75,555
NET BOOK VALUE
At 31 March 2024 7,579 10,073 46,623 64,275
At 31 March 2023 35,480 52,601 4,564 92,645

Biscoes Legal Services Limited (Registered number: 10681650)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:
Fixtures
and
fittings
£   
COST
At 1 April 2023 42,644
Transfer to ownership (42,644 )
At 31 March 2024 -
DEPRECIATION
At 1 April 2023 21,077
Charge for year 6,283
Transfer to ownership (27,360 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 21,567

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 650,988 497,769
Other debtors 3,138,990 2,646,330
3,789,978 3,144,099

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 9) 818,329 563,534
Finance leases - 6,052
Trade creditors 54,327 26,117
Taxation and social security 798,509 576,220
Other creditors 662,571 736,068
2,333,736 1,907,991

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 9) 393,210 208,333

Biscoes Legal Services Limited (Registered number: 10681650)

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:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 464,639 363,534
Other Loans 2 353,690 200,000
Other loans - 200,194
818,329 763,728

Amounts falling due between one and two years:
Bank Loan 1-2 years 93,515 183,333

Amounts falling due between two and five years:
Bank loans - 2-5 years 299,695 25,000

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Clydesdale Bank - 183,333

11. RESERVES
Retained
earnings
£   

At 1 April 2023 1,438,492
Profit for the year 1,124,300
Dividends (504,000 )
At 31 March 2024 2,058,792

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.3.24 31.3.23
£    £   
Ms A P Lee
Balance outstanding at start of year 25,482 21,334
Amounts advanced 87,124 76,148
Amounts repaid (84,000 ) (72,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 28,606 25,482

Biscoes Legal Services Limited (Registered number: 10681650)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

R T Barnes
Balance outstanding at start of year 48,645 35,312
Amounts advanced 96,888 85,333
Amounts repaid (84,000 ) (72,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 61,533 48,645

T Gamester
Balance outstanding at start of year 564 8,456
Amounts advanced 91,887 64,108
Amounts repaid (84,000 ) (72,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,451 564

Mrs S D Bellchambers
Balance outstanding at start of year (26,364 ) (20,740 )
Amounts advanced 95,631 66,376
Amounts repaid (84,000 ) (72,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (14,733 ) (26,364 )

C E King
Balance outstanding at start of year (212,891 ) (210,228 )
Amounts advanced 97,054 69,337
Amounts repaid (84,000 ) (72,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (199,837 ) (212,891 )

Mrs L N R Clutton
Balance outstanding at start of year (148,700 ) -
Amounts advanced 91,851 -
Amounts repaid (84,000 ) (148,700 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (140,849 ) (148,700 )

Mrs C Hamer
Balance outstanding at start of year - -
Amounts repaid (150,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (150,000 ) -

The total loan balances due to directors at the end of the year is £408,156 (2023 £314,590).