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REGISTERED NUMBER: 08942695














SP LAW INCORPORATING MARTIN ADAMS &
MCCOLL LTD

Unaudited Financial Statements

for the Year Ended 30 April 2024






SP LAW INCORPORATING MARTIN ADAMS &
MCCOLL LTD (REGISTERED NUMBER: 08942695)

Contents of the Financial Statements
for the Year Ended 30 April 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


SP LAW INCORPORATING MARTIN ADAMS &
MCCOLL LTD

Company Information
for the Year Ended 30 April 2024







Directors: Mr S Patel
Mr H R Shah
Mr M Normansell





Registered office: 8 Spencer Parade
Northampton
Northamptonshire
NN1 5AA





Registered number: 08942695





Accountants: Cobley Desborough
Chartered Certified Accountants
Chartered Tax Advisers
Artisans' House
7 Queensbridge
Northampton
Northamptonshire
NN4 7BF

SP LAW INCORPORATING MARTIN ADAMS &
MCCOLL LTD (REGISTERED NUMBER: 08942695)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 78,540 19,073
78,540 19,073

CURRENT ASSETS
Stocks - 57,847
Debtors 6 146,276 257,306
Cash at bank and in hand 9,245 117,816
155,521 432,969
CREDITORS
Amounts falling due within one year 7 106,917 295,607
NET CURRENT ASSETS 48,604 137,362
TOTAL ASSETS LESS CURRENT
LIABILITIES

127,144

156,435

CREDITORS
Amounts falling due after more than
one year

8

11,732

22,113
NET ASSETS 115,412 134,322

SP LAW INCORPORATING MARTIN ADAMS &
MCCOLL LTD (REGISTERED NUMBER: 08942695)

Balance Sheet - continued
30 April 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 130 130
Retained earnings 115,282 134,192
SHAREHOLDERS' FUNDS 115,412 134,322

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.

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 13 October 2024 and were signed on its behalf by:





Mr S Patel - Director


SP LAW INCORPORATING MARTIN ADAMS &
MCCOLL LTD (REGISTERED NUMBER: 08942695)

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

SP Law Incorporating Martin Adams & McColl Ltd is a private company, limited by shares , registered in Not specified/Other. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

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 balance sheet date.


SP LAW INCORPORATING MARTIN ADAMS &
MCCOLL LTD (REGISTERED NUMBER: 08942695)

Notes to the Financial Statements - continued
for the Year Ended 30 April 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.

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 and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Going concern
The current economic conditions present increased risks for all businesses. In response to such conditions, the director has carefully considered these risks, including an assessment of uncertainty on future trading projections for a period of at least twelve months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on this assessment, the director considers that the Company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations of external liabilities.

In addition, the Company's assets are assessed for recoverability on a regular basis, and the director considers that the Company is not exposed to losses of these assets which would affect their decision to adopt the going concern basis.

The director is therefore satisfied and has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the Company's ability to continue as a going concern. Theses financial statements have therefore been prepared on a going concern basis.

SP LAW INCORPORATING MARTIN ADAMS &
MCCOLL LTD (REGISTERED NUMBER: 08942695)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1 May 2023
and 30 April 2024 1,075,000
Amortisation
At 1 May 2023
and 30 April 2024 1,075,000
Net book value
At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
Cost
At 1 May 2023 77,358
Additions 78,939
At 30 April 2024 156,297
Depreciation
At 1 May 2023 58,285
Charge for year 19,472
At 30 April 2024 77,757
Net book value
At 30 April 2024 78,540
At 30 April 2023 19,073

SP LAW INCORPORATING MARTIN ADAMS &
MCCOLL LTD (REGISTERED NUMBER: 08942695)

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 102,564 165,218
Other debtors 43,712 92,088
146,276 257,306

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,648 10,206
Trade creditors 618 9,833
Taxation and social security 16,148 93,651
Other creditors 79,503 181,917
106,917 295,607

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 11,732 22,113