REGISTERED NUMBER: SC419946 (Scotland) |
Report of the Directors and |
Unaudited Consolidated Financial Statements for the Year Ended 31 August 2024 |
for |
A & J Law Group Ltd |
REGISTERED NUMBER: SC419946 (Scotland) |
Report of the Directors and |
Unaudited Consolidated Financial Statements for the Year Ended 31 August 2024 |
for |
A & J Law Group Ltd |
A & J Law Group Ltd (Registered number: SC419946) |
Contents of the Consolidated Financial Statements |
for the Year Ended 31 August 2024 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Consolidated Income Statement | 3 |
Consolidated Balance Sheet | 4 |
Company Balance Sheet | 6 |
Notes to the Consolidated Financial Statements | 8 |
A & J Law Group Ltd |
Company Information |
for the Year Ended 31 August 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
15 St Leonard Street |
Lanark |
Lanarkshire |
ML11 7AB |
A & J Law Group Ltd (Registered number: SC419946) |
Report of the Directors |
for the Year Ended 31 August 2024 |
The directors present their report with the financial statements of the company and the group for the year ended 31 August 2024. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 September 2023 to the date of this report. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
A & J Law Group Ltd (Registered number: SC419946) |
Consolidated Income Statement |
for the Year Ended 31 August 2024 |
31.8.24 | 31.8.23 |
Notes | £ | £ |
TURNOVER | 348,865 | 479,187 |
Cost of sales | 150,334 | 277,092 |
GROSS PROFIT | 198,531 | 202,095 |
Administrative expenses | 222,144 | 243,588 |
(23,613 | ) | (41,493 | ) |
Other operating income | 531 | 115,420 |
OPERATING (LOSS)/PROFIT | 4 | (23,082 | ) | 73,927 |
Interest receivable and similar income | 5,508 | 2,297 |
(LOSS)/PROFIT BEFORE TAXATION | (17,574 | ) | 76,224 |
Tax on (loss)/profit | (10,013 | ) | 22,760 |
(LOSS)/PROFIT FOR THE FINANCIAL YEAR |
( |
) |
(Loss)/profit attributable to: |
Owners of the parent | (7,561 | ) | 53,464 |
A & J Law Group Ltd (Registered number: SC419946) |
Consolidated Balance Sheet |
31 August 2024 |
31.8.24 | 31.8.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 | 57,000 | 71,502 |
Investments | 7 | - | - |
57,000 | 71,502 |
CURRENT ASSETS |
Stocks | 50,392 | 30,747 |
Debtors | 8 | 54,286 | 71,964 |
Cash at bank and in hand | 241,940 | 364,316 |
346,618 | 467,027 |
CREDITORS |
Amounts falling due within one year | 9 | 14,996 | 37,178 |
NET CURRENT ASSETS | 331,622 | 429,849 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
388,622 |
501,351 |
PROVISIONS FOR LIABILITIES | 2,907 | 13,075 |
NET ASSETS | 385,715 | 488,276 |
CAPITAL AND RESERVES |
Called up share capital | 102 | 102 |
Retained earnings | 385,613 | 488,174 |
SHAREHOLDERS' FUNDS | 385,715 | 488,276 |
The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024. |
The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006. |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group. |
A & J Law Group Ltd (Registered number: SC419946) |
Consolidated Balance Sheet - continued |
31 August 2024 |
The financial statements have been prepared 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 26 November 2024 and were signed on its behalf by: |
Mr A J Law - Director |
Mr J J Law - Director |
A & J Law Group Ltd (Registered number: SC419946) |
Company Balance Sheet |
31 August 2024 |
31.8.24 | 31.8.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
Investments | 7 |
CURRENT ASSETS |
Debtors | 8 | ( |
) |
Cash at bank |
( |
) |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
Company's profit for the financial year | 113,437 | 60,001 |
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. |
A & J Law Group Ltd (Registered number: SC419946) |
Company Balance Sheet - continued |
31 August 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
A & J Law Group Ltd (Registered number: SC419946) |
Notes to the Consolidated Financial Statements |
for the Year Ended 31 August 2024 |
1. | STATUTORY INFORMATION |
A & J Law Group Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant & machinery - 20% Reducing Balance |
Fixtures & Fittings - 25% Straight Line |
Computing Equipment - 33.3% Straight Line |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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. |
A & J Law Group Ltd (Registered number: SC419946) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 August 2024 |
2. | ACCOUNTING POLICIES - continued |
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 group operates a defined contribution pension scheme. Contributions payable to the group'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 |
4. | OPERATING (LOSS)/PROFIT |
The operating loss (2023 - operating profit) is stated after charging: |
31.8.24 | 31.8.23 |
£ | £ |
Depreciation - owned assets | 14,502 | 14,818 |
5. | INDIVIDUAL INCOME STATEMENT |
As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
6. | TANGIBLE FIXED ASSETS |
Group |
Plant and |
machinery |
etc |
£ |
COST |
At 1 September 2023 |
and 31 August 2024 | 123,599 |
DEPRECIATION |
At 1 September 2023 | 52,097 |
Charge for year | 14,502 |
At 31 August 2024 | 66,599 |
NET BOOK VALUE |
At 31 August 2024 | 57,000 |
At 31 August 2023 | 71,502 |
A & J Law Group Ltd (Registered number: SC419946) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 August 2024 |
7. | FIXED ASSET INVESTMENTS |
Group |
Shares in |
group |
undertakings |
£ |
COST |
At 1 September 2023 | 100 |
Disposals | (100 | ) |
At 31 August 2024 | - |
NET BOOK VALUE |
At 31 August 2024 | - |
At 31 August 2023 | 100 |
Company |
Shares in |
group |
undertakings |
£ |
COST |
At 1 September 2023 |
Disposals | ( |
) |
At 31 August 2024 |
NET BOOK VALUE |
At 31 August 2024 |
At 31 August 2023 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
31.8.24 | 31.8.23 | 31.8.24 | 31.8.23 |
£ | £ | £ | £ |
Trade debtors | 16,858 | 30,461 |
Other debtors | 37,428 | 41,503 | ( |
) |
54,286 | 71,964 | ( |
) |
A & J Law Group Ltd (Registered number: SC419946) |
Notes to the Consolidated Financial Statements - continued |
for the Year Ended 31 August 2024 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
31.8.24 | 31.8.23 | 31.8.24 | 31.8.23 |
£ | £ | £ | £ |
Trade creditors | 6,913 | 16,672 |
Taxation and social security | 2,956 | 12,377 |
Other creditors | 5,127 | 8,129 | ( |
) |
14,996 | 37,178 | ( |
) |
10. | ULTIMATE CONTROLLING PARTY |
The company was under the control of Mr J Law throughout the current period. Mr J Law holds 50% of the company's issued share capital. |