Lolaw Limited 07987878 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the provision of legal services. Digita Accounts Production Advanced 6.30.9574.0 true 07987878 2023-04-01 2024-03-31 07987878 2024-03-31 07987878 bus:OrdinaryShareClass1 2024-03-31 07987878 core:CurrentFinancialInstruments 2024-03-31 07987878 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 07987878 core:FurnitureFittingsToolsEquipment 2024-03-31 07987878 bus:SmallEntities 2023-04-01 2024-03-31 07987878 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07987878 bus:FullAccounts 2023-04-01 2024-03-31 07987878 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07987878 bus:RegisteredOffice 2023-04-01 2024-03-31 07987878 bus:Director1 2023-04-01 2024-03-31 07987878 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 07987878 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07987878 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 07987878 core:OfficeEquipment 2023-04-01 2024-03-31 07987878 core:KeyManagementPersonnel 2023-04-01 2024-03-31 07987878 countries:AllCountries 2023-04-01 2024-03-31 07987878 2023-03-31 07987878 core:FurnitureFittingsToolsEquipment 2023-03-31 07987878 2022-04-01 2023-03-31 07987878 2023-03-31 07987878 bus:OrdinaryShareClass1 2023-03-31 07987878 core:CurrentFinancialInstruments 2023-03-31 07987878 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 07987878 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07987878

Lolaw Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Lolaw Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Lolaw Limited

Company Information

Director

H Goldberg

Registered office

26 Durham Road
London
N2 9DT

Accountants

Thomas Alexander & Company Limited
590 Green Lanes
London
N13 5RY

 

Lolaw Limited

(Registration number: 07987878)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

438

584

Current assets

 

Debtors

5

227,725

318,035

Cash at bank and in hand

 

819,514

644,798

 

1,047,239

962,833

Creditors: Amounts falling due within one year

6

(40,639)

(37,470)

Net current assets

 

1,006,600

925,363

Net assets

 

1,007,038

925,947

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

1,007,037

925,946

Shareholders' funds

 

1,007,038

925,947

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 November 2024
 

.........................................
H Goldberg
Director

 

Lolaw Limited

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

1

General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
26 Durham Road
London
N2 9DT

These financial statements were authorised for issue by the director on 26 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Lolaw Limited

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

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Lolaw Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

779

779

At 31 March 2024

779

779

Depreciation

At 1 April 2023

195

195

Charge for the year

146

146

At 31 March 2024

341

341

Carrying amount

At 31 March 2024

438

438

At 31 March 2023

584

584

5

Debtors

Current

2024
£

2023
£

Trade debtors

20,419

10,419

Other debtors

207,306

307,616

 

227,725

318,035

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Other creditors

227

715

Corporation tax liability

40,412

36,755

40,639

37,470

 

Lolaw Limited

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

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

8

Dividends

   

2024

 

2023

   

£

 

£

Interim dividend of £45,000.00 (2023 - £47,000.00) per ordinary share

 

45,000

 

47,000

         

9

Related party transactions

Key management personnel

Inlcuded in other creditors is an amount of £227 (2023 : £715) owed to H Goldberg, the director of the company.