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REGISTERED NUMBER: SC438860 (Scotland)












Financial Statements

for the Year Ended 31 March 2024

for

Parkhead Law Limited

Parkhead Law Limited (Registered number: SC438860)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Parkhead Law Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: M O'Neill





REGISTERED OFFICE: Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU





REGISTERED NUMBER: SC438860 (Scotland)

Parkhead Law Limited (Registered number: SC438860)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 400,933 400,933
Property, plant and equipment 4 26,389 26,389
427,322 427,322

CURRENT ASSETS
Debtors 5 29,298 29,298
Cash at bank and in hand 4,196 4,196
33,494 33,494
CREDITORS
Amounts falling due within one year 6 10,797 10,797
NET CURRENT ASSETS 22,697 22,697
TOTAL ASSETS LESS CURRENT
LIABILITIES

450,019

450,019

CREDITORS
Amounts falling due after more than one year 7 113,601 113,601
NET ASSETS 336,418 336,418

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 336,318 336,318
SHAREHOLDERS' FUNDS 336,418 336,418

The company is entitled to exemption from audit under Section 480 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 director acknowledges his 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.

Parkhead Law Limited (Registered number: SC438860)

Statement of Financial Position - 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 director and authorised for issue on 27 November 2024 and were signed by:





M O'Neill - Director


Parkhead Law Limited (Registered number: SC438860)

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

1. 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.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 15% on reducing balance
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Parkhead Law Limited (Registered number: SC438860)

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

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 865,750
AMORTISATION
At 1 April 2023
and 31 March 2024 464,817
NET BOOK VALUE
At 31 March 2024 400,933
At 31 March 2023 400,933

4. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023
and 31 March 2024 47,636 7,516 39,243 17,583 111,978
DEPRECIATION
At 1 April 2023
and 31 March 2024 35,037 5,528 27,816 17,208 85,589
NET BOOK VALUE
At 31 March 2024 12,599 1,988 11,427 375 26,389
At 31 March 2023 12,599 1,988 11,427 375 26,389

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 29,298 29,298

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 137 137
Taxation and social security 660 660
Other creditors 10,000 10,000
10,797 10,797

Parkhead Law Limited (Registered number: SC438860)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 113,601 113,601

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100