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REGISTERED NUMBER: 06901117 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

CITY LAWYERS (PERSONAL INJURY) LIMITED

CITY LAWYERS (PERSONAL INJURY) LIMITED (REGISTERED NUMBER: 06901117)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023




Page

Company Information 1

Income Statement 2

Balance Sheet 3

Notes to the Financial Statements 5


CITY LAWYERS (PERSONAL INJURY) LIMITED

COMPANY INFORMATION
for the Year Ended 30 November 2023







DIRECTORS: Ms V Ralfe
Mrs L Robson





REGISTERED OFFICE: Suite 3, Phoenix House
63 Campfield Road
St Albans
Hertfordshire
AL1 5FL





REGISTERED NUMBER: 06901117 (England and Wales)





ACCOUNTANTS: Stein Richards
Chartered Accountants
10 London Mews
Paddington
LONDON
W2 1HY

CITY LAWYERS (PERSONAL INJURY) LIMITED (REGISTERED NUMBER: 06901117)

INCOME STATEMENT
for the Year Ended 30 November 2023

30.11.23 30.11.22
Notes £    £   

TURNOVER 799,245 550,372

Administrative expenses 553,370 478,141
OPERATING PROFIT 4 245,875 72,231

Interest receivable and similar income 18,115 1,092
263,990 73,323

Interest payable and similar expenses 4,194 4,292
PROFIT BEFORE TAXATION 259,796 69,031

Tax on profit 63,433 13,116
PROFIT FOR THE FINANCIAL YEAR 196,363 55,915

CITY LAWYERS (PERSONAL INJURY) LIMITED (REGISTERED NUMBER: 06901117)

BALANCE SHEET
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 6 - -
Tangible assets 7 94,148 54,009
94,148 54,009

CURRENT ASSETS
Stocks - 227,242
Debtors 8 71,122 8,139
Cash at bank and in hand 1,239,481 890,108
1,310,603 1,125,489
CREDITORS
Amounts falling due within one year 9 1,200,151 1,126,331
NET CURRENT ASSETS/(LIABILITIES) 110,452 (842 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

204,600

53,167

CREDITORS
Amounts falling due after more than one
year

10

(33,795

)

-

PROVISIONS FOR LIABILITIES (23,537 ) (10,262 )
NET ASSETS 147,268 42,905

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 147,266 42,903
SHAREHOLDERS' FUNDS 147,268 42,905

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

CITY LAWYERS (PERSONAL INJURY) LIMITED (REGISTERED NUMBER: 06901117)

BALANCE SHEET - continued
30 November 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2024 and were signed on its behalf by:





Mrs L Robson - Director


CITY LAWYERS (PERSONAL INJURY) LIMITED (REGISTERED NUMBER: 06901117)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

City Lawyers (Personal Injury) 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 accounts are prepared on a going concern basis. The directors believe this to be appropriate on the basis that they have received assurances from the creditors that they will not require the repayment of advances made by them to the company until the company has adequate funds to remain solvent.

Turnover
Turnover represents fee income in the year, net of discounts and value added tax.

Rendering of services

Revenue for providing services is recognised in the period when work is carried out..

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, 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.
Fixtures and fittings - 15% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 25% straight line

Work-in-progress
The company works on a conditional fee basis and at the accounting date it was not considered probable, that is a great than 70% chance, their contingent fees would be paid. The main focus for the company is now clinical negligence and the cases last for between 4 to 5 years with no guarantee of success at the end of the period. This has resulted in writing the work in progress to nil and an increase in legal costs.

Stock/Work in Progress is valued at the lower of cost and net realisable value.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans to related parties.

The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments / receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date.


CITY LAWYERS (PERSONAL INJURY) LIMITED (REGISTERED NUMBER: 06901117)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued
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.

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 5 (2022 - 9 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

30.11.23 30.11.22
£    £   
Depreciation - owned assets 9,454 9,531

5. DIVIDENDS
30.11.23 30.11.22
£    £   
Ordinary shares of £1 each
Interim 92,000 69,360

CITY LAWYERS (PERSONAL INJURY) LIMITED (REGISTERED NUMBER: 06901117)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

6. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 301,471
AMORTISATION
At 1 December 2022
and 30 November 2023 301,471
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

7. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022 121,721 - 17,834 139,555
Additions - 44,180 5,413 49,593
At 30 November 2023 121,721 44,180 23,247 189,148
DEPRECIATION
At 1 December 2022 67,713 - 17,833 85,546
Charge for year 8,101 - 1,353 9,454
At 30 November 2023 75,814 - 19,186 95,000
NET BOOK VALUE
At 30 November 2023 45,907 44,180 4,061 94,148
At 30 November 2022 54,008 - 1 54,009

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other debtors 71,122 8,139

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 40,634 95,728
Hire purchase contracts 10,385 -
Trade creditors 29,027 39,399
Taxation and social security 74,759 26,372
Other creditors 1,045,346 964,832
1,200,151 1,126,331

CITY LAWYERS (PERSONAL INJURY) LIMITED (REGISTERED NUMBER: 06901117)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Hire purchase contracts 33,795 -

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
2 Ordinary £1 2 2

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2023 and 30 November 2022:

30.11.23 30.11.22
£    £   
Ms V Ralfe
Balance outstanding at start of year - -
Amounts advanced 37,557 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 37,557 -

Mrs L Robson
Balance outstanding at start of year - -
Amounts advanced 24,848 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 24,848 -

The loans were repaid by 6 April 2024.