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REGISTERED NUMBER: 05409815 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

PEARCELEGAL LIMITED

PEARCELEGAL LIMITED (REGISTERED NUMBER: 05409815)

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


PEARCELEGAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: G M Pearce
N A Thomas





SECRETARY: G M Pearce





REGISTERED OFFICE: 2 The Square
Solihull
West Midlands
B91 3RB





REGISTERED NUMBER: 05409815 (England and Wales)





ACCOUNTANTS: Prime
Chartered Accountants
Corner Oak
1 Homer Road
Solihull
B91 3QG

PEARCELEGAL LIMITED (REGISTERED NUMBER: 05409815)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,117 10,968

CURRENT ASSETS
Stocks 175,386 176,498
Debtors 5 215,057 302,346
Cash at bank and in hand 2,334 7,455
392,777 486,299
CREDITORS
Amounts falling due within one year 6 363,210 298,199
NET CURRENT ASSETS 29,567 188,100
TOTAL ASSETS LESS CURRENT
LIABILITIES

37,684

199,068

CREDITORS
Amounts falling due after more than one
year

7

(13,031

)

(22,500

)

PROVISIONS FOR LIABILITIES (2,029 ) (2,054 )
NET ASSETS 22,624 174,514

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 22,524 174,414
22,624 174,514

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.

PEARCELEGAL LIMITED (REGISTERED NUMBER: 05409815)

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 20 November 2024 and were signed on its behalf by:





N A Thomas - Director


PEARCELEGAL LIMITED (REGISTERED NUMBER: 05409815)

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


1. STATUTORY INFORMATION

Pearcelegal 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 (£).


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.
Short leasehold - 20% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Work in progress
Work in progress is valued on the basis of selling price of services provided, not invoiced in the year.

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.

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.

PEARCELEGAL LIMITED (REGISTERED NUMBER: 05409815)

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


2. ACCOUNTING POLICIES - continued

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.

Pensions
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a seperate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 21 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 10,000 75,065 13,973 99,038
Additions - 5,529 - 5,529
At 31 March 2024 10,000 80,594 13,973 104,567
DEPRECIATION
At 1 April 2023 10,000 68,889 9,181 88,070
Charge for year - 5,663 2,717 8,380
At 31 March 2024 10,000 74,552 11,898 96,450
NET BOOK VALUE
At 31 March 2024 - 6,042 2,075 8,117
At 31 March 2023 - 6,176 4,792 10,968

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 130,998 134,393
Other debtors 84,059 167,953
215,057 302,346

PEARCELEGAL LIMITED (REGISTERED NUMBER: 05409815)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,005 9,884
Trade creditors 81,164 52,968
Taxation and social security 100,140 106,515
Other creditors 171,901 128,832
363,210 298,199

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 13,031 22,500

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 49,805 53,645
Between one and five years 63,947 41,378
113,752 95,023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
N A Thomas
Balance outstanding at start of year 64,892 32,753
Amounts advanced 104,336 92,139
Amounts repaid (169,228 ) (60,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 64,892

G M Pearce
Balance outstanding at start of year 32,979 25,452
Amounts advanced 111,732 67,527
Amounts repaid (155,000 ) (60,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (10,289 ) 32,979